The past five years have been one of the more challenging periods for raising capital in the biotechnology industry, especially for early-stage companies. Numerous factors, including a challenging FDA environment upon NDA submission, long timelines to approval and the high rate of drug failure, have contributed to a dim venture capitalist view of the sector’s prospects. As a result, emerging growth biotechnology companies are increasingly pursuing alternative financing vehicles, including Equity Crowdfunding, to advance their drug development programs.
On April 5th, 2012, the “JOBS Act” (Jumpstart Our Business Startups Act) was signed into law including a provision for Equity Crowdfunding. It allows companies to raise capital in small amounts from large groups of people using the Internet and social media. The JOBS Act leaves many of the details of Crowdfunding and private offerings in the hands of the Securities and Exchange Commission (SEC) which has 270 days to conduct rule-making, at which time Crowdfunding should become available for issuers.
Join Scott Jordan from Scott Jordan and Associates to learn more about Crowdfunding, the JOBS Act and the influence it may have on your business. Scott will describe the different platforms available to Life Science companies including Equity and Non-Equity/“Compassionate Use” Crowdfunding. Finally, Scott will assess the value of Equity Crowdfunding for Life Science companies including Seed, Bridge and Side Car financings. Don’t miss this opportunity!
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