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LIFE SCIENCES IS IT THE JOCKEY OR THE HORSE? EXECUTIVE INSIGHT: By Lynn Brusco, PLSG Vice President and Chief Relationship Officer, Contributing Writer, lbrusco@plsg.com


In the venture capital community, an investment question is often debated, “What is more important, the jockey or the horse?” In this debate, the jockey represents the management team leading the com- pany and the horse represents the idea, product or market. There are equal arguments to support the im- portance of each. As a practical matter, you need both.


Investors conduct due diligence regarding the key management, the product or service and the market. Most agree that investing in start-up and early-stage companies is “part science, part art,” and the decision to invest or not can often be a subjective investor decision. Given the regulatory, clinical, capitalization and reimbursement hurdles that they are faced with, life science startups are high-risk but high-reward propositions. The Pittsburgh Life Sciences Green- house (PLSG) functions to mitigate the opportunities for failure at the critical seed and early stages of company development and help minimize investor risk by treating the management team and the product innovation with the


same level evaluation. We believe that great management can turn a nov- el idea into a viable commercial opportunity. The leadership has to be great. The product has to be great. We utilize our deep domain-specific expertise to thoroughly vet the key management, the product or service and the market prior to investing in the company. PLSG’s exemplary investment track record is founded upon proven due diligence and investment standards and is led by the globally-recognized PLSG Executive Program.


The PLSG Executive Program is building the regional life sciences industry one successful company at a time. Executives-in-Residence (EIRs) guide the growth of startup companies from founding through a successful exit. EIRs give companies the resources and expertise necessary to succeed. EIRs are serial entrepreneurs. They have started and sold companies. They have raised millions of dollars. EIRs possess a remarkable global network and make that network available to regional companies. The PLSG EIRs have relationships with the top funds in the world and have access to corporations, governments, universities, strategic partners and other investors for companies. All of this


Continued on pg 37 In The News (powered by Techburgher.com)


Jawbone Acquires BodyMedia After 14 years of innovating wear-


able health technology solutions for consumers and professionals alike, BodyMedia announced it was acquired by Jawbone for $100 million.


Jawbone’s expertise in consumer


technology and design, plus the insights from BodyMedia’s clinically proven system, will empower the combined team to do even more to help you achieve your goals and lead a healthier life, according to statement from BodyMedia CEO Chris Robins.


Jawbone is the creator of UP – the lifestyle tracking wristband + app system – as well as the best-selling JAMBOX family of wireless speakers and the award-winning Jawbone ERA and ICON Bluetooth headsets.


What does this mean for you as a BodyMedia user? At this point, nothing changes. Users’ armbands, activity managers, Customer Support, and any integrated apps will continue working as they always have. And the future? Reports from VentureBeat and All Things Digital indicate that BodyMedia will maintain its Pittsburgh presence for Jawbone.


Get


Listen to these interviews from TechVibe Radio http://www.talkshoe.com/tc/36639


vBodyMedia’s co-founder Ivo Stivoric talks about the Jawbone acquisition


Listen LIVE every Saturday at Noon FM NewsTalk 104.7 www.pghtech.org 35 to the PTC


Jennifer Young Director, Life Sciences Network Director, Gov’t Relations jyoung@pghtech.org 412.918.4224


The Life Sciences Network is sponsored by K&L Gates.


June 27, 2013 7:00–9:15 AM


Mark Your Calendar


Huntington Bank Breakfast Briefing: Flemming B. Bjoernslev, President and CEO, LANXESS Corporation


Location: Rivers Club, 301 Grant Street #411, Pittsburgh , PA 15219 Register at www.pghtech.org


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