Academics Advancing Neurotech: Founders Bringing the Laboratory to the Public

Summary

 
 
 

Featured Panelists:

​Lorenz Studer, MD, PhD - Stem cell biologist who is the founder and director of the Stem Cell Center at MSK. His lab is well known for pioneering the large-scale generation of midbrain dopamine neurons for transplantation into Parkinson’s disease patients. He founded BlueRock therapeutics in 2016, a biotech company focused on developing cell based therapies for degenerative conditions such as Parkinson’s.

Li Gan, PhD - Director of the Helen and Robert Appel Alzheimer’s Disease Research Institute. Dr. Gan is well known for her work in uncovering the molecular mechanisms of neurodegeneration, with a particular focus in Alzheimer’s and FTD. Her lab is also keenly interested in studying microglia and neuroinflammation. She founded Aeton Thereapuetics in 2018, which aims to develop inhibitors against key molecular drivers of neuroinflammation, such as the CGAS-STING pathway.

Jean Hebert, PhD - Professor of genetics and neuroscience from Albert Einstein School of Medicine. His lab is developing stem cell transplantation strategies for repairing the neocortex. Much of his research has also focused on FGF signal transduction in brain development, perhaps explaining his current research interest in repair. Last year he spun out his research into BE therapeutics, which believes they can progressively replace areas of neocortex over time to rejuvenate the brain.

 

Words of Wisdom:

Lorenz:

·       In rare cases, the market is such that there is a lot of funding for investments. In this case, companies that are too early may receive funding and die quickly. In most cases, VCs want products that are close to finished, e.g. mouse models and other validation are necessary to receive investment.

·       Company leadership changes a lot and new hires can change the ideas for what the company is focused on. This can make it difficult for scientists to continue having a large influence over a company they founded.

·       Constant pivoting is necessary to survive in entrepreneurship. You have to find the best way to make the product work.

·       Bluerock was started as a collaboration with a Canadian lab.

·       Collaboration can bring a source of good tension between people with different ideas that leads to innovation. This can happen internally within a company and externally between companies. Partnerships between companies are very common since one company may need permission from another to use their products.

·       For clinical trials, work more as a consultant than a lead.

·       Timing of communication is critical. You need to work a lot on your pitch to do it effectively.

·       In a small market, it may be difficult to find an investor.

·       Past successes help by creating a network to use for new startups.

·       It is necessary to look at a lot of funding sources to find a good fit. Failing at one VC is not the end of the company.

·       For a successful company, find something that is not obvious and is novel. You will need some conviction to be an entrepreneur.

 

Li:

·       Li’s therapeutic came out at a bad time because other tau products failed and investors turned away from this idea. Therefore, a pivot was necessary to develop small molecules.

·       Collaborations give complimentary expertise. Some collaborations with CROs and consultants are helpful. Pro bono and hourly waged employees are common as well.

·       Startups are the best way to reach patients, a very difficult task in academia.

·       Judges of SBIR grants are often from industry and so this can be a different way of judging a grant than a normal academic grant. CTL has consultants that can be helpful for submission, and there are a lot of workshops that can be attended for free.

·       It is easy to convince investors that Alzheimer’s Disease is a problem, but not easy to convince them we have a solution.

·       It is important for your technology to be novel. If it has been done before, it is very difficult to get funding.

·       Believe in your discovery and be passionate to bring it to the population.

 

Jean:

·       Sometimes a technology is too early and VCs are not educated about the cutting edge developments. In these cases, it is hard to receive investments because VCs consider these technologies too large of a risk.

·       Advancement of technology needs industry.

·       Collaborations with the academic and business world are instrumental since no person can be an expert in all the fields necessary to develop a product from their science.

·       The company started with the regeneration of the neocortex because it is the largest pat and most superficial part of the brain. It is also largely studied in the literature.

·       Networking is the most important way to advance your startup. You can change the world with a network. Jean sent a book to VC and this started some conversations. It is necessary to get personally involved with VCs.

·       Industry is much more rigorous than academia with reproducibility. There is a lot of diligence even in early stages or before getting funding.

·       Be committed to your idea. It will not be easy. If others are working on the same project, join forces. Be bold. Go big.