As tech investors rush into life sciences, founders are getting bigger offers [CNBC]
FOUNDATION MEDICINE (FMI)
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Source: CNBC
Source: Dupont DuPont research scientists at work in a biobutanol molecular biology lab Freenome CEO Gabriel Otte received two very different term sheets when fundraising for his diagnostics startup earlier this year. Freenome is one of half a dozen companies in the red hot "liquid biopsy" space, which is aiming to develop a blood test to detect cancer at the earliest stages. One of the term sheets came from a traditional health and life sciences fund, which Otte said offered him a modest valuation in exchange for about 40% of the company. Another came from a Silicon Valley tech investor with a far higher valuation and check size than he expected. He turned it down, but eventually ended up taking some money from other tech investors with newfound interests in biotech. "Tech investors will offer higher valuations, if they believe you're going to grow like a tech company," said Otte. In recent years, technology venture capitalists
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