# Presentation: 268209

## Louis Cantolupo

**Louis Cantolupo**
**Director, Sales & Marketing**
**Presenting to:**
**NIH Biosciences Business Interest Group**

## The Company

- Omnia Biologics provides process development, manufacturing, and fill-finish capabilities of infectious biological substances used in vaccine, biodefense, and gene therapy applications.

## What we (want to) do

- Process development
- Design
- Optimization
- Validation
- Manufacturing of infectious biologics
- 5000 vpd filling capability

## Why would I do this?

***“******Mom! Dad!  When I grow up I wanna be a contract biologics manufacturer!”***

**Notes:**
No one ever says this.
Saw this as an opportunity from my last company woes.
Started b/c I was laid off.

## The Investors

## The Waters

- FFF’s
- Angels
- VC’s
- Institutional investors
- Corporate partners

**Notes:**
No need to talk about the latter two; you won’t run into them in your first go around.

## It’s all about the money

**Period.**

**Notes:**
The fact of the matter is that folks are investing in you and want their investment back and more than “and then some.”  If that were the case everyone would be able to get money.

Always remember that.  Your goal in meeting and convincing investors is increasing shareholder value.  Your primary goal as an entrepreneur taking in private investment is that.  Period.

## Friends, Family, and Fools

- Think they’re gonna get rich
- Assume that you’re The Expert
- Like ideas
- PATHOLOGICALLY focused on ROI

**Notes:**
They’re investing primarily ‘cause you told them this was gonna make them rich...and they believed you.  

## Angels

- Think they’re helping you – and they are
- Assume you’ve got a grip on reality
- Like ideas that lead to opportunities
- PATHOLOGICALLY focused on dilution

**Notes:**
Some have been entrepreneurs themselves and are returning the favor.  Some are just rich and like private investing.  But mainly they like the prospect of being the first one in on an investment.  Angels can be big helps in many other ways.

## The VC’s

- Think you’ve got a long way to go
- Assume nothing
- Like opportunities
- PATHOLOGICALLY focused on valuation

**Notes:**
Not the bad guys you think they are; VC’s just have more investment criteria.  You either meet them or you don’t.  And, they’ll take a lot of your company from you.  It’s the harsh reality, but they’re also the ones putting in the biggest chunk of cash and taking the biggest risk.  It all comes with the territory.  It’s in your interest NOT to talk to a VC until you’ve gone the FFF and Angel route.

## "Venture capitalists are people looking for innovation - until they see it.  If you have an innovative idea, your chance of getting funding is virtually zero."

- Nolan Bushnell

*Quote: Business Week, Aug. 2003*

**Notes:**
Nolan Bushnel – founder of Atari.  Quote from Business Week.

## So, Lou, tell me what it’s like...

## Pounding the pavement

- It’s more like pounding your desk
- It gets REAL old after awhile
- “How’s the business goin’?”
- Confidence drops
- It ain’t no kind of fun

## Before you look for dough

- Business plan
- Implementation/Execution plan
- A registered company
- FTO, patent(s), license, etc.
- A good law firm & accountant
**Understand the process ******** REG D!**
- Find someone who’s done it

## While looking for dough

**ALWAYS.  BE.  POSITIVE.  **
- “No”
- Don’t get angry.
- Look nice
- Three food groups: mints, water, coffee
- Baby steps & small victories

**Notes:**
Get used to the word “no” an derivations of.
Look nice: get a nice suit and shoes.  Don’t look sloppy.  No one will invest in you if you look that way.

## Getting to No

- You still have your (day) job
- You don’t have FTO or IP
- You don’t have experience
- You don’t have a Ben & Jerry’s model
- You

**Notes:**
B&J model: grabbing 90% of a $100M market rather than 1% of a $1B market.  90% looks better even though it’s less.

## Getting to Ye...well...hmm...

- You quit your (day) job
- You have an idea of FTO or IP
- You found some experience
- You have a Microsoft model
- You

**Notes:**
Microsoft model: grabbing 90% of a $10B market.  No one questions that, but stick with B&J for now.

## BEWARE!

- The Slum Lord
- The Golf Pro
- The Thinker
- The Virgin
- Jerry Maguire
- The Seller

**Notes:**
Slum Lord – leverage the house, max your credit cards, then talk to me.  Ignore them until later.
Golfer – name dropping, course dropping, “my swing is great,” nothing gets done.
Thinker – takes too long, nitpicky about too many details.  Don’t discard them, just don’t waste too much time.
Virgin – first time angel investor.  Needs handholding, but don’t discard them.
Jerry Maguire – finders who take 2% of all monies you collect if “they found it.”  Have very structured agreements with these folks before using them, make sure you maintain control of who gets your business plan.
Seller – consultants, sales reps, etc.  They can’t help you find money, but they sure know how to help you spend it when you get it.  Keep them at bay until you’re ready.  Don’t waste your time nor theirs when you know you can’t use them for 8 months down the road.  

## Godspeed to us all!