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Nano gene case study

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“NanoGene Technologies Inc.” Case study Market • NanoGene, life sciences • Share -$10,000,000 for 60% equity (assumption) • Commercial Market Place Issues • Company culture and hiring practices • Paige Miller hiring • Series A funding • Management team Funding • First Round (angel round) o $600,000 at a $2.25 million post-money evaluation o 20% immediately, 20% at the end of the first year, remaining 60% at a 2% per month • Second Round (venture round) 2002 o $10 million series A financing 60% equity o 18 months operating o Technical proof-of-concept and pilot production Key People • Founders o Will Tompkins • 41, biochemistry Ph. D. EIT Advanced materials sciences lab …show more content…

Second is Series A funding, which consists of acquiring $10 million dollars for 18 months operating expenses, this would allow the team to first perfect the technology then prove it could work on a commercial scale. Third is acquiring the intellectual property, there were five key patents that were needed for NanoGene’s success. These patents included four in Mark Masterson’s name but owned by EIT that covered most of the key technology, and one other in Ravi Rhotta’s named also owned by EIT. These issues all fall under one key issue, getting someone in that has experience, know how, ability to, and the want to fix these issues. Paige Miller is a biotech industry consultant who Tompkins had come into contact with through some of their mutual venture capitalists. This sparked many meetings between the two that in turn lead to Miller being brought on board PRE series A financing as a consultant. Miller, a very well educated women studied at UCLA where she received her Bachelors of Science, Business Administration, after leaving UCLA she worked a few years in the San Francisco area at a tennis house where she would trade court time for back office work. In 1993 she headed to Harvard where she received her MBA, after leaving Harvard she worked for Intel corp. as a research project consultant but only for a short period of time before heading to

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