Anti-Aging Biotech | Raising Capital to Extended Tomorrow

Fountain Therapeutics is a pre-clinical biotech leveraging deep learning and computer vision to discover and develop molecules which can impact age related diseases and potentially aging itself. After recently completing a successful Series A, led by Khosla Ventures, Fountain was tasked with identifying a new CEO with a proven track record raising significant money for an AI driven business, preferably in drug discovery. Given the niche market of the ask, the Board felt it was critical to hire a search firm with experience working in AI. LifeSci Search had previously placed Andrew Trister, MD, PhD onto the SAB at Fountain Tx and had developed a trusting relationship with the Board. There was a vote of confidence in the success of the search as it was to be led by Andrew Cronin, Founder & President at LifeSci Search and supported by Elena Liapounova, Managing Director, both of whom have specialized backgrounds recruiting the best AI talent from time spent working on wall street.

Approach

LSS immediately tapped into their known networks and exercised relationships across the LifeSci Partners Platform to successfully gain a variety of referrals and recommendations. The team was introduced to William Greene, MD within the first several weeks of the search. Bill was a former MPM Venture Partner and co-founded Pear Tx, a digital health group that leveraged AI. The Board was immediately impressed with Bill but wished to review additional candidates to ensure all possible options were explored as Bill was the very first candidate they met. The Research Team at LSS created a complete market map of all companies leveraging AI (biotech, healthcare, and advanced technology) that had raised more than $10M while simultaneously worked through a list of technology and fintech M&A deals with major players such as Apple, Amazon, etc. to create a target list of over 130 potential candidates.

Outcome

The LSS team worked diligently to connect with top executives from the mapped market to ensure that a solid list of qualified candidates was provided to Fountain Tx. After a handful of interviews with additional candidates, Bill remained the front runner and a formal offer was extended. The Board wanted to ensure a solid backup list of candidates remained viable as Bill did have an extended exit requirement to navigate with his former employer. Bill officially started with Fountain Tx on April 26, 2021. Additional information on his appointment can be read here.