Raising funds for startup or growing biotech companies is always a significant undertaking. Your ideas must be fresh and your narrative needs to be compelling. Is your product or service developed or proven? Do you have a timeline with projected milestones that are attainable and not over estimated? In order to acquire investors, you must first convince them to have faith in your company and its mission.
Series A Funding
Series A funding comes after the initial, or seed round, of investments. To begin a round of Series A funding certain pieces need to be in place. By this point, your company must have a valid business model with a promising financial plan. You need to know how your product fits into the market and have the beginnings of a customer base. Typically, you will have achieved your first set of milestones by the time you seek Series A funding. In short, you have to have all of your ducks in a very neat, straight row.
Raising Funds During Economic Crisis
While the fundraising process is always challenging, imagine doing it during an economic crisis and worldwide pandemic. These uncertain times caused by the COVID-19 pandemic have everyone concerned about finances. It is certainly not the best time to be raising funds, but we moved ahead in order to help as many as possible. And we are happy to report that we reached our goal thanks to people who were willing to step up in these trying times. We raised $2.5 million in a Series A round of financing, which closed just a few short months ago.
Faith in Regenerative Medicine
Securing funding during uncertain times really speaks to the belief in the power of regenerative medicine and the PSC business model. These funds will allow us to complete our current stem cell clinical trial for knee osteoarthritis, launch our recently approved COVD-19 clinical trial, and initiate new FDA approved clinical trials. Our plans for future clinical trials include additional orthopedic conditions, back pain, and traumatic brain injury. We are very grateful to all of our investors, without whom none of this would be possible!