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AN INTERESTING CONTRARIAN VIEW ON COMPANION DIAGNOSTICS from an industry veteran with a realist's perspective. Noting that the companion diagnostic field in oncology is likely to get crowded, and speculating about the impact of this on reimbursement, he offers a cautionary perspective. Remember, though, that private pay by patients in dire need may trump the need fir reimbursement, as most of these patients go to great lengths to get the best treatment. http://www.diaceutics.com/pm-partnering-pharma-retort View in LinkedIn

BARCELONA HOSTS THE MWC, amid a lot of buzz and excitement. This region of Spain is home to a really vibrant entrepreneurial community in high tech. Even Telefonica, the giant telecom, has an incubator for ideas and new ventures in the city. This region of Spain is also vibrant in the Smart City scene, and Biopharma. No longer just a fantastic vacation destination, Barcelona is a player in early stage companies. http://lnkd.in/wU_J3X View in LinkedIn

ANGEL INVESTORS play a critical role in financing one of the hardest rounds -- the first one (Seed round). In the US, most VCs are not active in Seed rounds, while in Europe they are much more active in this space. Two key considerations in Angel deals are board seats and valuation. If the Angel has no sector experience, they do not typically add value on the board. secondly, if possible, avoid valuation-tied deals, and instead offer a discount against the next Series A round. Angel-set valuations can be big problems for Series A rounds if they are set significantly too high or too low. http://lnkd.in/mX9PM3 View in LinkedIn

AN INTERESTING POST FOR BOARD DIRECTORS. In today's environment, being a Director of a US public company is more demanding than ever. Public Watchdog groups effectively drive many Committee decisions, in an attempt to comply Class Action lawfirms are constantly opportunistic, and increase personal liability risks, and agencies like SEC can FDA make your life hell. SOX is burdensome, and will never prevent criminal players like Enron. Quarterly reporting tends to keep a short-term focus. Net net, only go public if you absolutely must. http://lnkd.in/dBfG6x View in LinkedIn

A EUROPEAN SCIENCE AND TECHNOLOGY ADVISORY COUNSEL has been created to advise on how to harness this economic driver. Firstly, it is a formal recognition of its economic importance. Secondly, it will influence capital expenditure. Assuming the advice forthcoming is halfway valuable, this is cause for optimism, and a sign that growing our way out of the Crisis is at least as important as austerity approaches in the eyes of Brussels. Watch this space. http://lnkd.in/2_afT9 View in LinkedIn

HOW MUCH STOCK TO GIVE IN EARLY TECH COMPANIES? The issue is most key for non-founders, since the founding team typically split the pie. The key is to give enough, but not too much. A hired-gun CEO can earn 5% post Series A; a CFO 1%; a CMO or CSO 4-5%; a COO 2-3%. Board members 1-2%, and SAB 1-2%, typically with double for the Chairman. It is important to give annual MBO based awards to keep them current, and always vesting straight line over 3-4 years. Try and leave enough in the SOP for future hires and distribution. View in LinkedIn

THIS BEAUTIFUL PICTOGRAM OF THE COST TO DEVELOP DRUGS BY BIG PHARMA is at the heart of the urban myth that discovering a new drug costs billions. While it is true for Big Pharma, it only costs that much because they are so inefficient. Small Biopharma companies can do it for 30 - 100 M USD. Do not let the incredible inefficiency of Big Pharma wrongly steal the headlines. It can, and is being done cheaply in small companies all over the world. http://lnkd.in/SNAjxE View in LinkedIn

IN EARLY STAGE TECH COMPANIES, HOW MUCH STOCK SHOULD YOU DISTRIBUTE? The true founders will likely take equal shares of the pie, and then dilute themselves to give stock to early key hires, as much as 5% each; quite early on it is important to creat an Option Pool for future hires, of about 20% pre-Series A, so that parameters are set on the extent of founder dilution. If the key members are not incentivized sufficiently, they may be lost. Too much, and equity has been wasted. View in LinkedIn

THE US ARMY HAD A BIO-SILK INITIATIVE TO REPLACE KEVLAR. The US Army research facility in Massachusetts has long been interested in spider silk as the toughest material in the universe (Young's Modulus), and invested in efforts to clone the gene. As a very large gene, and more complex than originally thought, this goal has been illusive. View in LinkedIn

SOMEBODY MUST HAVE MEASURED THE RATE OF CHANGE in our lives in terms of society, technology, medicine, and attitudes. It seems intuitive that the rate of change is accelerating. When you consider periods in history like the Dark Ages, where many believe that for 500 years nothing changed significantly, our epoch is a sharp contrast. And remember, we still are evolving biologically at a very slow rate: we have vestigial organs and teeth, our metabolism is geared for a hunter-gatherer lifestyle. Is this divergence in rate of change important? http://lnkd.in/vg8GvE View in LinkedIn