Angel Group Aims to Give Medtech Start-Ups an Inside Track 3788

Originally Published MX March/April 2005

BUSINESS NEWS

Citing a dearth of investment organizations focused exclusively on supporting young life sciences companies, a coalition of 15 financial and scientific firms have launched an angel group to help seed and early-stage biotech and medical device companies position themselves for venture-backed funding.

The newly formed group calls itself Life Science Angels Inc. (LSA; Menlo Park, CA), and is sponsored by both technology and service providers to the life sciences industry. The group will target investments of approximately $250,000 to $1 million, and expects to distribute between $4 million and $6 million in 2005.