LIFE SCIENCE NATION AND STETSON FAMILY OFFICE JOIN FORCES
Launch Collaboration to Provide Early Stage Funding for International Healthcare Startups
The joint initiative between Life Science Nation (LSN) and Stetson Family Office (SFO) will:
- Assist international life science startups in raising seed capital, series A and B funding rounds, and offer a Boston-based immersion fundraising and partnering program.
- Prepare and integrate these startups into LSN’s global partnering ecosystem, including the Redefining Early Stage Investments (RESI) Conference Series in Boston, San Francisco, Europe and Asia and access to LSN’s partner network.
- Use family office philanthropic and impact investment strategies, along with angel investors’ expertise, in seed rounds to move compelling technology out of the labs and onto the commercial development path. It will focus specifically on years 0 to 3, commonly referred to as “The Valley of Death”.
- Advance women as investors and as entrepreneurs in the life sciences.
- Direct preliminary interest in products that impact healthy brain, diabetes, obesity and heart disease, although all products are welcome.
As a kickoff to the strategic alliance, the Stetson Family Office will be the Title Sponsor of the 2019 Redefining Early Stage Investments conference series. The LSN and SFO collaboration will take the best of the high-growth international start-up life science companies, with which LSN is working, and provide them access to the global angel and family office network of Global Family Office BioForum (GFOB), established by the Stetson Family Office. GFOB is the preeminent alliance of international family offices. Currently in 18 cities in the U.S., Europe and Asia, it is dedicated to speeding up the early-state life science product development journey in years 0-3, working in cooperation with the Angel Capital Association with 13,000 members in 260 organizations.
Healthcare Impact Foundation (“HCIF”) was formed in 2017 as a 501(c)(3) public charity and is dedicated to building a better private equity ecosystem for healthcare innovations and supporting the commercialization of healthcare innovations as they progress from the research laboratory to the patient.
With a focus on the “Valley of Death” – years 0 to 3 of promising new life science companies HCIF is establishing funds for geographic regions around the world to build endowments to support the earliest stage life science and thematic areas of investments, including Alzheimer’s Disease and cancer.
Structured as a portfolio of endowments, each HCIF separate account is dedicated to the community that creates it and is managed with a goal of growing the base endowment and distributing a steady and sustained stream of funding annually that can be distributed by the community’s trustees into the areas of its life science ecosystem in a way that will have the greatest potential impact.
“The Stetson Family Office has spent the last 18 months meeting with emerging healthcare innovation ecosystems around the US and globally. We found that while great ideas with high impact potential were coming from emerging life science markets like Arizona, the capital streams and support ecosystems are insufficient to support efficient growth of the companies. Too much time is wasted chasing funding. This time needs to be focused on getting high quality healthcare innovations further along the path to commercialization so that traditional venture capital and public equity funding can take it the rest of the way. We were honored to work with our partners here in Arizona to develop a new and sustainable funding model to address this critical need.”
— Chuck Stetson is head of the Stetson Family Office, a third and fourth generation family office in New York, and serves as Chairman of the Healthcare Impact Foundation.