clinical stage life sciences venture capital investor

investment criteria

CLS believes that the most dependable and most rewarding creators of value in life sciences companies are products. Therefore, we seek to invest in product focused early stage companies that use capital efficiently and that have a clear path to product development and/or product marketing.

Products

We invest in biotech and drug development companies, medical device companies and health care information technology companies.

With respect to biotech and drug development companies, we are interested in both biologic and small molecule opportunities. With respect to small molecule drug opportunities, we are interested in both new chemical entities and proprietary applications of already approved drugs.

With respect to medical devices, we are particularly focused on therapeutic devices, although we will consider diagnostic opportunities.

With respect to health care information technology, we invest only in companies that are focused on solving significant information access needs of healthcare providers and/or healthcare payers.  We do not invest in consumer focused healthcare information technology.

Investment Characteristics

We will generally make an initial portfolio investment only in Series A or Series B rounds, usually as part of the first institutional venture capital financing.

We will consider making an initial portfolio investment in later financing rounds if the company is undergoing a change in strategic direction or some other form of “restart” transition.

We require board representation as a condition to our investment.

Our initial investment will typically be in the range of $1 to $5 million, and we are willing to be part of an investment syndicate of other professional venture capital investors, if such a syndicate is required.

The amount of capital raised in our initial investment round must be adequate to allow the company to reach a significant value inflection point.