Partnership Aims to Boost Life Sciences Startups
INDIANAPOLIS - Indianapolis-based VisionTech Partners has announced a partnership with life science product development consulting firm Pearl Pathways. The angel investment firm says the alliance will fuel the state's life sciences startup community, including biopharmaceutical, medical device and diagnostics technology.
VisionTech says the partnership will focus on three goals:
- Identifying promising early stage/early growth companies for potential investment by VisionTech’s statewide network of angel investors
- Connecting entrepreneurs with mentors and business advisors
- Providing entrepreneurs with access to highly specialized services required to negotiate the FDA approval process
"Of the 24 portfolio companies our angel network has invested in, 10 are in the life sciences and healthcare space; it’s definitely a sweet spot,” said Ben Pidgeon, executive director of VisionTech Partners. "The alliance with Pearl Pathways will not only ensure a high quality deal flow, it will also help us make better investment decisions. Most of these companies must secure FDA approval in order to commercialize their drug, device or diagnostic tool. Pearl Pathways will, in effect, be VisionTech Partners’ resident expert on all things FDA."
The organizations will formally launch the partnership Thursday evening at VisionTech Angels' "Pitch Night," which will feature two life sciences startups. Diana Caldwell, chief executive officer of Pearl Pathways, says startup companies from throughout the state will benefit from the alliance.
"VisionTech Partners is unique in the angel investing space," said Caldwell. "Yes, they are a source of capital, but more importantly, they have deep experience and success in the life sciences industry. They also have a chapter composed entirely of physicians. These are the people who are around medical technology on a daily basis and have knowledge and insight few investors have."
Pearl Pathways assists life sciences companies with clinical research, regulatory, quality compliance and independent review board services.