Lindsey Alexander from medcitynews.com introduces a very interesting article on the importance of venture capitalists in the medical device industry. To help support her theory she brings in TherOX’s CEO Kevin Larkin, to share his views on how to gain and maintain a relationship with a venture capitalist firm. Larkin stresses the importance of five key tidbits that will help medtech startups increase their attractiveness to outside investors. With each bullet point Larkin gives helpful advice and allows startups a view of what they might run into on the course to make a key medical breakthrough
1. “Don’t fall in love with your initial animal research data and bench top testing.”
2. Expect that you need to iterate.
3. Collect data on a very targeted patient population.
4. Work hand-in-hand with regulatory experts. Know your regulatory path inside and out.
5. Make devices that accommodate a large array of skill sets.
To read the full article click here.