Situation Assessment

• Leveraging proprietary network science & real-world transcriptomic datasets, the NewCo was formed to identify transcription factors (TFs) that drive cancerous phenotypes and develop oligonucleotides that can inhibit multiple TFs with a single therapeutic agent
• As a co-founder, Locust Walk worked with the NewCo to develop a comprehensive business plan and secure an initial seed financing of $340K to efficiently generate validating PoC data

Key Activities

• Collaborated with scientific founders to develop an optimal experimental plan, allowing for quick and efficient demonstration of proof of concept to situate the company for future raises
• Provided thoughtful framing around the novel scientific approach, competitive differentiation, and intended corporate strategy to create a compelling investor story with strong positioning
• Supported cap table modeling and scenario planning to guide financing decision-making
• Organized targeted outreach to accredited institutional and individual seed investors and led pitch meetings to close a $340K Seed #1 financing despite minimal preclinical data on hand to validate the lead asset and platform
• Directed the company through the financing process by capturing and organizing investor feedback and advising on diligence questions and concerns
• Collaborated with the management team, Board of Directors, and legal counsel to drive the initial seed financing to deal close in an agreed-upon timeline

Successful Outcome

• Raised an initial $340K Seed #1 with capital from Locust Walk and respected individual angel investors / biotech executives
• Proceeds will fully fund platform PoC and in vivo PoC for the lead candidate
• Data package generated from this capital-efficient round positions the company for a larger Seed #2 in ~6 months and eventual Series A
• Introduced the story to prominent investors and strategic partners ahead of the subsequent Seed #2 financing to generate interest