Session 5 – A New Paradigm in Biotech Innovation & Investment
Date: 22 July (Wednesday) 15:40 – 17:10 (GMT+8)
Venue: 701EF, 7F, TaiNEX2 / Online event platform
Todd Kaloudis is currently a Managing Director at Cobro Ventures, a private US-based investment firm that focuses on software and biotech. Cobro recently co-led the Series B financing for C4 Therapeutics and Series A financing for Regenacy Pharmaceuticals. Cobro previously led the Series A round for Frequency Therapeutics (2017), which went on to complete B, C, and IPO financings in 2019. Todd has broad functional experience in C-suite operator, advisor, and investment roles dating back to 1999. He has managed through numerous equity and debt financings as well as M&A transactions. Mr. Kaloudis studied at MIT as an undergraduate, where he was admitted to the Eta Kappa Nu Honors Society for Electrical Engineering & Computer Science.
Speech title & Synopsis
We’re all fortunate to be living during a time of explosive innovation and economic activity in the biotech industry. Hidden behind the IPOs, unicorn valuations, and blockbuster licensing and M&A deals are the stories of many brave venture-stage companies with aspirations to change the world. They may have great ideas to provide breakthrough therapies for unmet medical needs, experienced founders, exciting pre-clinical data, and an enthusiastic cast of clinicians supporting their vision. But success also depends on having the right investors. Capital, expertise, and relationships are needed at the right times. Economic opportunity and risk must be fairly divided among management, employees, partners, and shareholders at each stage of development -- with shared patience and motivation. People need to get along well enough to overcome the inevitable challenges that come with the process of launching something new. How can all these criteria possibly be met by early-stage firms that are balancing hard scientific work with fundraising? The answer depends on the choices available. More independent options lead to leverage. Fewer independent options can lead to a false sense of value and egregious deal terms. This is why strong relationships between venture capital firms with diverse backgrounds can be so helpful. Together they can tap multiple networks faster, creating more shots on goal for early-stage biotech companies. When Asia-based investors gain access to US-deal flow they participate in a uniquely robust ecosystem that covers academic research to the clinic, through regulatory and commercial phases of growth. Increasingly, they bring value to the table with fresh perspectives on deal terms, new KOLs, pharma relationships, and local market know-how to create optionality for their US counterparts.