Bullpen

Consider joining us March 9 - 11 for Pitch Fest Miami. We are close to announcing our program with venue details, sponsor and pitchers, but we want to ensure we’ve got an accurate count. Bullpen Members attend complimentary. There is a fee to pitch and/or sponsor. If interested, please complete this form: https://lnkd.in/gkq-ixvj

This Bull might be the GOAT.

#Bullpen Founding Member David R. Craig, MBA at Sarcomatrix will be pitching at BIO CEO & Investor Conference on Monday, February 10th. Details: https://lnkd.in/gSzh25Qj Comment if you are a Bullpen Member who is attending. Let’s support each other in NYC. Good luck everyone!

It's an exciting day for the scientific community.   At SciShield, our vision has always been to deliver a best-in-class digital platform where life changing scientific breakthroughs can be done safely and efficiently. By joining forces with the incredible team at eLabNext, we are extending that vision into what was previously uncharted territory.   SciSure will deliver an unparalleled Scientist Experience (SX) and vendor Marketplace that will change the way we think about a digital lab and the ecosystem supporting it.   Our Scientific Management Platform (SMP) will unify scientists, lab operations, EHS, leadership, and trusted vendors, to create harmony across your organization.   Join us on our journey. We are better together: www.SciSure.com   #ScientificManagementPlatform #ScientistExperience #ScientificCommunity

Founder Mark November reached out in advance of an upcoming Venture Starters pitch event. He’s looking for a diagnostic reimbursement specialist to guide his community. Leave a comment if that’s you👆or tag a friend to do us a solid 👊 Also, I thought it would be a good opportunity for the Bullpen community to help another at an event in our wheelhouse. We loved having Norma and Mark at the Golden Gate Yacht Club during #JPM2025. Let’s visit them at their virtual HQ. Register Here: https://lnkd.in/gXwwURSF More about #VentureStarters: https://lnkd.in/gC2xgV9G

A Valley startup is raising a $2.5M pre-seed round at a $12M valuation. The product is almost ready, but there’s no traction yet, just the first pilot agreements being signed. They’ve been fundraising for 3-4 months now, but so far, they only have soft commitments for $500K. 🤷♂️ And this isn’t the first time in recent weeks that I’ve seen founders trying to raise a pre-seed round at a high valuation right off the bat and struggling with it. I just don’t get it. Why set a $12M valuation at this stage? Let’s break it down. Say they raise $2M now, everything goes well, and in a year, they hit $1M ARR. What valuation will they get with $1M ARR? Probably around $15M, maybe $20M at best - assuming they’re not in YC or don’t have big tech experience. And that’s in an ideal scenario. But here’s the problem: founders won’t want to raise at $15M because their last round was at $12M. They’ll aim for $20M or even $25M, struggle with it again, waste time, and risk not raising at all. By setting a $12M valuation now, they’re already putting themselves in a tough spot for the next round. A better approach? Raise a smaller pre-seed $500K to $1M at a lower valuation, say $6M. Give up 8%, use that capital to build traction, then raise a proper $2M seed round at a $15M valuation in six months to a year, giving up another 13%. Founders going for a $12M valuation early on usually worry about dilution, thinking they’re giving up too much equity too soon. But in reality, the difference is minimal! Let’s do the math: Gradual fundraising approach:  • Pre-seed: $500K / $6M → 8.3%  • Seed: $2M / $15M → 13%  • Total dilution: 21.6% Raising more upfront:  • $2.5M / $12M → 20.8% The difference? Less than 1%. But the gradual approach significantly increases the chances of actually closing both rounds while saving valuable time. And let’s not forget - fundraising is a full-time job for founders.

Phacilitate’s Advanced Therapies Week moved to Dallas this year, which is a 13+ hr drive straight south from my home in Minneapolis. The overwhelming mood of the conference was resilience. It’s about overcoming the cards we have been dealt as an industry and connecting with each other to become stronger. Many flights were cancelled Sunday, Jan 19 at MSP due to mechanical issues and extreme cold including mine, so I pulled an all-nighter driving to make it just in time to Chair the Investor Summit. I was blown away by Michael E. Meyers’ at H.C. Wainwright & Co., LLC State of the Industry address. Michael actually had a tougher time getting to #ATW2025 than I did. Instead of ice, he was dealing with fires in LA. Michael drove two days to get to Dallas. It’s all a little blurry but I can’t forget how wonderful Troels Jordansen, Irene Rombel, Daniel Friedman and Bo Wiinberg were on the Tools & Services Investment panel. Bravo to Becky Johnson-Kent, ingerid sorgaard, Abby Cairns, Lydia Britton, Olivia Day, Ry Leahy, Serena Mirpuri, Kimberley Jane Barnes, and everyone at Clarion Events and Phacilitate who pulled off this wonderful gathering. Thank you to my Bullpen brethren for making it extra special. Linda Ann Tempelman, Caley Anderson, MBA, Josh Forrest Conway, Arnaud Deladeriere, Ph.D., Raphaël G. Ognar, MSc MBA, Audrey Greenberg, Priya Baraniak, Ph.D., Tamika Jackson, Lynn Fischer, Bryan Poltilove, Kristin King-Jankiewicz, MBA, Renaud VAILLANT, Christopher E Hopkins, PhD, MBA, Scott Alpizar, Anna (Haugo) Argo, MBA, Julia Taravella, Justin Smith, Dominic Clarke, Geoffrey Stephens, Ph.D., Frederick Kweh, Eli Goldaris, Heather Nielsen Sugrue

#Bullpen Stats #JPM2025 Congratulations to the Bullpen Community for an impressive performance in January 2025. Dare we say dominant performance? This is the result of putting good people in the room together. LinkedIn (January 2025) Impressions: 80K+ Engagements: 3K+ New Followers: 473 (~15% growth) Golden Gate Yacht Club (1/12 - 1/16/25) Total Visitors: ~1.5K Bullpen Club Member Hosts: 189 Bullpen Cup Pitches: 25 Pitch Fest San Francisco Pitches: 14 Gourmet Group Meals: 11 Bentley Motors Test Drives: 50+ DENISON YACHT SALES Bay Tours: 10+ Thank you to our sponsors: Ben Kromnick | Mercury Lisa Cavallaro | Brisbane Economic Development Agency Caley Anderson, MBA | Collaborative Drug Discovery - CDD Vault Jess Hawthorne | CSC Leasing James Zanewicz, JD, LLM, RTTP | BIO on the BAYOU Jeff Steinle | Fredrikson & Byron, P.A. Bruce Hunter | University of Utah Technology Licensing Office Roberta Antoine D. | Medical Alley Terry Stelter | Mazzetti Mark Stevenson | Veranex Jonathan Cheng (he/him) | Osborne Clarke James Graham, CPA, CGMA | Richtr Financial Studio Daniel Tabb | Houchens Insurance Group Jacques Jospitre | SohoMD, PLLC

Bullpen Moments | Golden Gate Yacht Club #Bullpen's San Francisco Headquarters at the GGYC provided the perfect counterpoint to the hustle and energy of #JPM2025. It's simply the most spectacular and serene spot on the Bay. General Manager Bob Mulhern has created a unique and unforgettable environment for those fortunate enough to visit. Every direction offers picturesque views of the Golden Gate Bridge, Alcatraz, Islands, San Francisco, as well as the coastlines across the bay. Members and Guests enjoyed all of this during their meetings, pitches, KOL interviews, and meals. Beauty aside, did you know the GGYC is also home to America's Cup Champion Oracle Team USA? Thank you to all Members, Sponsors, and Guests who brought this place to life during JPM Week 2025. Thank You Sponsors & Partners for making this venue possible: Mercury Brisbane Economic Development Agency Collaborative Drug Discovery - CDD Vault J.P. Morgan CSC Leasing CSSi LifeSciences MTEC | Medical Technology Enterprise Consortium Silicon Valley Bank BIO on the BAYOU Fredrikson & Byron, P.A. University of Utah Technology Licensing Office Tulane University School of Medicine Medical Alley Mazzetti Veranex Osborne Clarke Richtr Financial Studio Houchens Insurance Group SciLeads The Beautiful Way Foundation Women And AI Emily Whitehead Foundation The Alliance for Artificial Intelligence in Healthcare (AAIH) Bullpen is an invite-only Club gathering Life Science Investors and CxOs with a shared goal of helping each other. We prepare for and attend premier industry events together. Our #Mantra: Find Someone to Help. Repeat. Mission: https://lnkd.in/gemP3WGC Membership Inquiries: https://lnkd.in/gfnyBEpK Member Roster: https://lnkd.in/gqJA_nKB Full Schedule: https://lnkd.in/giP5dNkR

Bullpen thanks Phacilitate and Bullpen Member Linda Ann Tempelman of Persista Bio Inc. for a great Advanced Therapies Week (ATW) in Dallas, TX. Bullpen ATW Moments: 🐂 #Bullpen’s CEO Christiaan Engstrom moderated the panel: “Investing in Tools, Services and Propelling CGT Ecosystems”. With panelists: Bo Wiinberg | Novo Nordisk Foundation Cellerator Daniel Friedman | BroadOak Capital Partners Irene Rombel | Advisor to 1315 Capital Troels Jordansen | KELI Therapeutics 🐂 Dallas Night Out featuring bull riding! 🐂 Bullpen's Club photoshoot at the Pioneer Plaza Cattle Drive sculptures Advanced Therapies Week has been the epicenter of the cell & gene therapy revolution. This is a dynamic and must-attend forum where breakthrough technologies and impactful partnerships come to life to transform drug development. Visit ATW Website: https://lnkd.in/gk9V_Dsw Thank you to the ATW team. Becky Johnson-Kent Abby Cairns Olivia Day Ayaan Lowry Serena Mirpuri Interested in joining #Bullpen? Bullpen is an invite-only Club gathering Life Science Investors and Senior Executives with the shared goal of helping each other. We prepare for and attend premier industry events together. Our #Mantra: Find Someone to Help. Repeat. Request to become a Member: https://lnkd.in/gKhx6SHN Learn More: Mission: https://lnkd.in/gN7rvyZP Full Schedule: https://lnkd.in/gjepJCXB Testimonials: https://lnkd.in/g_7n7Zqw