SOURCE: Mid Atlantic Bio Angels

Mid Atlantic Bio Angels

February 07, 2014 08:00 ET

Mid Atlantic Bio Angels Funds Over $1.5 Million in Second Year of Operation

NEW YORK, NY--(Marketwired - Feb 7, 2014) - Mid Atlantic Bio Angels (www.bioangels.net), an angel investor group focused exclusively on early-stage life science companies, announced today that its investments for calendar year 2013 totaled over $1.5 million. The investments were distributed to promising biotech startups: Immunomic Therapeutics, Tarnhelm Therapeutics and more than $1 million to Cerus Endovascular, making Mid Atlantic Bio Angels (MABA) investors the largest single stockholder in that company.

"For an angel investor group that was only founded in May 2012, our numbers indicate that we have done a good job of bringing investors and potential investments together," said Yaniv Sneor, a co-founder of the group.

While vigorously pursuing its investment activities, MABA has also initiated a separate program, 1st Pitch Life Science (1stpitchlifescience.com), to educate pre-investment stage entrepreneurs and others about the investment process. "We do this in a hands-on forum, where several pre-investment companies (screened in advance) pitch their business model (without discussing capital needs) to an expert panel in front of a general audience drawn from the NYC life science community -- Ph.D.s, post-docs, tech transfer personnel and others. Based on both audience questions and panel feedback, everyone gets a chance to learn about the strengths and weaknesses of a particular pitch or business model. Hopefully, some of these companies will grow up to present to MABA," said Stephen M. Goodman, a partner at Pryor Cashman LLP and another co-founder of the group.

In 2014, MABA looks to expand potential deal flow and sources, attract new investor-members and continue to raise its profile within the life science investment community through entrepreneur education efforts such as 1st Pitch Life Science and other initiatives. For more information please visit www.bioangels.net.

About MABA Mid Atlantic Bio Angels (MABA) is a group of active angel investors which meets in New York City monthly (except July and August) solely to hear from pre-screened early-stage life science companies. MABA members consist of individuals from Delaware to Massachusetts with significant expertise and experience in the biotechnology, pharmaceutical and healthcare industries, including former and current corporate executives, doctors and Ph.D. scientists with product development backgrounds, successful medical entrepreneurs and analyst/investors focused on life sciences. MABA's goal is to create an environment where the depth of investors' knowledge coupled with the pre-screening of presenting companies enhances the potential for meaningful investment.

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