Friday, September 18, 2009

Biotech companies court venture capitalists: Medical Money

Business Reporter Andy Vuong and Photojournalist Ken Lyons took a close look at the inaugural Rocky Mountain Life Science Investor Conference - held in Denver, Sept. 17, at the Ritz-Carlton. Remarks included from Colorado Bioscience Association President & CEO John Collar:

"The event attracted 25 venture capital companies, two-thirds of which were from out of state, said John Collar, chief executive of the Colorado BioScience Association, co-sponsor of the conference.

The trade group, which has more than 400 members, initiated the conference to help improve access to capital for companies in the region at any stage of development, Collar said.

'Colorado is really seen as a developing hub of biosciences in the middle of the country as opposed to the established life-sciences industries in California and on the East Coast,' Collar said.

After their presentations, executives were provided with a private meeting room for discussions with potential investors. Now, it is up to the venture capitalists to choose which companies, if any, to support — a process that could take some time.

After speaking with some venture capitalists, Collar said he expected deals to close as a result of the conference.

He estimated that the companies, which included 15 from Colorado, were seeking a combined $150 million in funding."

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