[Update: 10:50 am PT] Biotech VCs had their chance to vent on Twitter last week about the sad state of affairs in financing startups, and now it’s time for the entrepreneurs to take their turn. So we’re bringing together a couple of top biotech startup executives, Carol Gallagher and Jason Rhodes, to share their thoughts (in 140 characters or less) on how to navigate these tough times.
This edition of the Xconomy Tweetchat will start at 3 pm Eastern/Noon Pacific on Monday, Dec. 5. As usual, I’ll get the ball rolling by sending questions from my personal account @ldtimmerman and @xconomy. I’ll plan to ask these two for their thoughts on alternative financing strategies and new business models in a period where venture capital is increasingly scarce. As always, you’re welcome to weigh in at any time with your questions or comments for these two guests. The searchable hash tag to keep track of the conversation will be #biostartups.
Both Gallagher and Rhodes bring some great inside perspective on what startups have to do to survive these days.
Gallagher (@carol_gallagher) is the former CEO of Seattle-based Calistoga Pharmaceuticals, and currently the executive chair of San Diego-based AnaptysBio. Calistoga, the developer of treatments for blood cancers and inflammatory diseases, raised $90 million of venture capital in its five-year history before being sold earlier this year to Gilead Sciences (NASDAQ: GILD) in a deal worth $375 million upfront, plus another $225 million if Calistoga reaches certain goals.
Rhodes (@JasonPaulRhodes) is the chief business officer of Cambridge, MA-based Epizyme. This cancer drug developer raised $54 million in venture capital in its first couple years, but it has continued to support its drug discovery effort through deals with GlaxoSmithKline and Eisai Pharmaceuticals, and via philanthropic support from the Multiple Myeloma Research Foundation and the Leukemia & Lymphoma Society.
I’m looking forward to seeing you all there in the Twittersphere on Monday, Dec. 5.
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