We are proud to have been selected for this program from among 400 applicants (top 5% selected). BioTools Innovator Accelerator is a four-month program providing in-depth, customized mentorship from senior industry leaders, funding opportunities, and engagement with peers and advisors. This program is part of MedTech Innovator, the world’s largest accelerator for medical technology.
Accelerator Kickoff-Summit in California in June
Key Takeaways from the Summit
Current Funding Climate:
- The funding environment remains challenging. The general recommendation is to delay new funding rounds and extend current capital well into 2025.
Investor Interest Areas:
- There is significant investor interest in biotools that can get close to “pharmaceutical economics” through roles in drug formulation. Investment multiples in diagnostics range from 3-5x, but in pharmaceuticals, they are considerably higher at 10-15x.
Fortunately, Life Magnetics is in a strong position, having oversubscribed a funding round earlier this year. The investor interest areas are also well aligned with our product pipeline, which gives us great confidence about the future.
For your enjoyment, we have included a few pictures of the team’s travels to the Sunshine State 🙂
