Indiana companies team up to foster biotech entrepreneurship
Pearl Pathways – a company dedicated to providing support and IRB services for regulatory compliance of biotech companies, and VisionTech Partners- a group of angel investors interested in local early-stage startups, will combine their strengths to promote biotech and other life science startups.
Both Indiana companies have established rapport in the area through financial support and mentorship.
“VisionTech Partners is extremely committed to growing Indiana’s life sciences industry”, said Ben Pidgeon, CEO of VisionTech. “The alliance with Pearl Pathways will not only ensure a high-quality deal flow, it will also help us make better investment decisions. Most of these companies must secure FDA approval in order to commercialize their drug, device or diagnostic tool”, said Pidgeon, highlighting the importance of relying on expert knowledge for success in business endeavors.
“VisionTech Partners […] have deep experience and success in the life sciences industry. They also have a chapter composed entirely of physicians. These are the people who are around medical technology on a daily basis and have knowledge and insight few investors have”, said Pearl Pathways’ CEO and co-founder Diana Caldwell.
The partnership is focused on bringing together the strengths of each company and their joint contact network toward three goals: promising startups access to funding, quality networking, and support for compliance with FDA approval and other demanding regulatory
processes. The main hurdle faced by early-stage startups is securing the funding and expertise to successfully navigate FDA regulations and secure its approval for their products.
“Partnering with VisionTech will not only open doors for our clients, startup companies across Indiana will benefit from the combined talents and resources of our two companies”, she concluded. VisionTech, founded in 2008, has accumulated a portfolio of startups that is comprised of over 40% biomedical companies, making it a valuable partner for further investments in the field.
Since its foundation in 2010, Pearl Pathways has been committed to helping the Indiana biotech and healthcare communities thrive. Their latest show of support was on August 14, when they announced their sponsorship for the Indiana chapter of the Healthcare Businesswomen’s Association, with Caldwell making a keynote speech at their upcoming event in Indianapolis on September 29.