The BioGenerator Seed Fund was started in 2003 as a unique source of regional investment capital for early-stage bioscience companies. BioGenerator makes seed stage investments in select technologies to develop technical and business milestones that will translate into funding milestones for next-stage investors. For technology-based companies that will require follow-on funding, it is critical that seed round milestones will position the company to raise the next round of funding. Many of BioGenerator's seed investments are syndicated with angel investors or early stage venture capital groups. BioGenerator also makes seed investments in companies that will be technical service providers, or Contract Research Organizations. Since 2003, BioGenerator has invested in the seed stage funding of fourteen early-stage technology companies, including seven in 2009-2010.
Initial Contact addresses the opportunity's general fit with BioGenerator Investment Criteria to assist in determining whether an initial meeting is warranted. If an Initial Meeting is warranted, a confidentiality agreement may be established to facilitate a review of confidential materials.
Send relevant pre-reads and background information one week in advance of the Initial Meeting with BioGenerator staff. Prepare a one hour presentation covering a summary of the opportunity. Presentation should include (if available):
BioGenerator assessment of the opportunity versus our Investment Criteria. At this stage, BioGenerator will address the probability of meeting meaningful technical and business milestones with the proposed funding plan.
BioGenerator staff, expert consultants, IP attorneys and investor advisors assist in an iterative process to assess the opportunity. Areas identified in Evaluation to require further development are addressed by integrating input from BioGenerator and others to further develop business and technical strategies. Development stage objectives are to build and verify:
The Investment Memo summarizes the opportunity to BioGenerator's Operations Committee for funding consideration. Under confidentiality, the memo may be shared with potential side-by-side investors. The Investment Memo includes detailed assessment of:
The BioGenerator Operation's Committee is a sub-set of the BioGenerator's Board of Directors that have the authority to review and approve proposed investments. Before the Meeting, the Operations Committee members review the Investment Memo prepared by the BioGenerator staff. The actual Operations Committee Meeting is internal staff and the Committee only, where the BioGenerator staff presents the proposed milestones and a request for formal funding approval. Subject to any conditions to closing, approval from the Operations Committee triggers the preparation of legal closing documentation and final diligence documents required for closing.
In Deal Closing, additional supporting corporate documentation is required from the company and company's counsel. Simultaneously, closing documents are prepared. A typical Deal Closing requires the following documents to be executed:
BioGenerator typically continues to provide support through participation on Portfolio Companies’ board of directors, scientific advisory board and other advisory and support roles as needed. BioGenerator gives input on the progress of the company towards the agreed upon milestones and works to connect the company with additional and downstream investors.
Business HQ to be in St. Louis Region
Startup, Pre-Revenue, Pre-Venture Funded