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Biotech Case Study: Proof of Principle
The Client
An early stage virtual biotechnology company was established to develop a diagnostic kit based on an ELISA assay technology, which they had recently licensed from a major university.
Situation
The Client Company was formed around two founders with money raised from angel investors to fund their initial work. In order to proceed and approach venture groups concerning a potential A-Round of financing, proof-of-principle data was required. The client needed to perform their work in a laboratory that would be viewed as maintaining a high quality level of operations and have a wide variety of instruments available. A major issue for the client was the time and expense required to set up a CLIA/CAP laboratory, a prohibitive expense for a start-up organization.
Technical Need
The ELISA assay was in a preliminary / experimental state when presented to Cambridge Biomedical. It had been run a number of times by a Ph.D. investigator at the university the technology was licensed from. The key to success was to identify the types of experiments that would be required to demonstrate the technical feasibility or proof-of-principle while maintaining tight control over limited financial resources and meeting tight deadlines.
Cambridge Biomedical's Service
We worked with the client to identify the experiments required to demonstrate technical feasibility and with the venture capital groups on how the data could be presented on their roadshow. Our staff also served as a resource that was available to potential investors to contact for confirmation of methodology and assay results and metrics.
Results
As a result of the custom assay and protocol development performed by Cambridge Biomedical, this client successfully demonstrated product proof-of-principle and secured their second round of venture financing.
