It is a valid question. Your medical innovation is going to require money in order to advance from development to commercial launch. Whether your total capital needs are $3 million or $30 million, the needed money can trickle in via smaller increments or in tranches of millions of dollars—depending on…
Read more »With your task and timeline now fundamentally constructed, you should have a grasp on what tasks lie ahead and how much money you will need to accomplish them. This is key information for an important reason. As you progress down your timeline, accomplishing the tasks that you and your team…
Read more »An embryo seems to miraculously mature through layers of development. Cellular differentiation, a forming spinal column, organ development, and more, are all necessary for a healthy, vital birth. Just as the developing fetus goes through a myriad of maturation steps, your medical innovation and your company must proceed methodically through…
Read more »Based on our discussion in the last column, we have to uncover the product attributes that are most meaningful to the user, whether that user is a physician, nurse or technician, and to the buyer—whether he is a purchasing agent or general manager. For instance, I suggested that we learn…
Read more »Can you diagnose these symptoms? The subject has conceived of a novel medical innovation that he believes is so important it will soon become a staple device in every hospital and clinic. He thinks its features and benefits solve an important problem facing physicians and their patients. However, our subject…
Read more »In the last column we talked about how to comb through patent claims and perform a lay assessment of infringement. While you might arrive at the conclusion that your innovation would not, in your estimation, infringe any of the claims you turned up, there is something else you need to…
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Part 2 – Here is $100,000. How Much of Your Company do I get?
By this point, you should have a handle on the general timing of your milestones, your five year sales forecasts, and comparable M&A activity. If you are missing any of these, check the last two columns, as they are germane to this discussion, today. As a general rule of thumb,…
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