Groove Biopharma, one of the edgy biotech startups at Seattle’s Accelerator, could have easily raised $20 million based on the scientific goals it reached last year. That almost certainly would have been the case in 2005, 2006, or 2007. But since Groove hit its milestones in the post-downturn era, it pulled in $6 million and was kept in its incubator, instead of “graduating” as an independent company.
These are the kind of adjustments biotech companies have to make in today’s relatively stingy financing environment. It’s a great example of adaptability and perseverance, so I’m happy to say Groove will be on hand to tell the story at “Reinventing Biotech’s Business Model” on April 3 in Seattle. Groove, a developer of microRNA-based therapies, will be represented by chief scientist Dave McElligott and Carl Weissman, the CEO of Accelerator, during a 20-minute case study at this Xconomy event. Groove will replace Acylin Pharma, as Acylin’s Bard Geesaman had to drop out because of a conflict.
More than 200 people have registered now for this event, but there are still tickets available. For those of who may have missed it, this conference is a gathering of top-notch biotech entrepreneurs and investors from around the country, and the Northwest. Corey Goodman, Kevin Starr, John Maraganore, Kathy Glaub, Carol Gallagher, Thong Le, Bruce Montgomery, Brian Atwood, Peppi Prasit, and Steve Tregay will all be on hand to share their experiences working on models that are supposed to create more bang for the biotech investment buck.
There will quite a few leading members of the Seattle biotech community at this event, as I’m expecting people from Dendreon, Seattle Genetics, Gilead Sciences, the Bill & Melinda Gates Foundation, the Fred Hutchinson Cancer Research Center, and the University of Washington. It’s truly a rare thing to get this many national biotech leaders in one place in Seattle on the same day. So get your tickets now if you haven’t already. See you there on April 3.
1 pm. Registration and networking
2 pm. Welcoming remarks, PATH & Xconomy.
2:10 pm. Opening keynote chat.
Corey Goodman, venBio.
Luke Timmerman, Xconomy (moderator)
2:40 pm. Experiments with new business models. 20 minutes each.
Ed Saltzman, president, Defined Health (moderator)
Brian Atwood and Peppi Prasit, Versant Ventures/Inception Sciences
Kathy Glaub, Plexxikon
Steve Tregay, Forma Therapeutics
Thong Le & Bruce Montgomery, Cardeas Pharma
4 pm. Networking Break
4:30 pm. Experiments with new models
Alex Lash, reporter/editor, Startup/In Vivo (moderator)
Carl Weissman & David McElligott, Groove Biopharma
Heather Franklin, Blaze Bioscience
Carol Gallagher, formerly of Calistoga Pharmaceuticals
5:30 pm. Closing Keynote Chat.
Kevin Starr, Third Rock Ventures
John Maraganore, Alnylam Pharmaceuticals
Luke Timmerman, Xconomy (moderator)
6 pm. Networking reception
7 pm End
