June 23, 2017
PolyAurum is looking for $2.7M in seed funding to support development and testing of its biodegradable gold nanoparticle technology which significantly enhances the effectiveness of radiation therapy in locally advanced tumors. “This will enable us to complete all of the animal studies needed for approval from FDA to move into human clinical trials”, said Debra Travers, PolyAurum’s CEO. Seed money typically comes from a number of sources including friends and family, grants and angel investors. A typical angel investor is usually in for $10,000-50,000, so it takes a lot of them to fill a round as large as ours. Angel groups are able to combine the resources of several members to make a bigger investment which gives them a bigger piece of the company. Keiretsu Forum is one of the largest angel groups with chapters worldwide in more than 50 cities. The Keiretsu Forum Mid-Atlantic group which is composed of four cities – New York, Philadelphia, Washington DC and Pittsburgh – selected PolyAurum from a group of 9 companies in April to present to their membership to seek funding. During the roadshow, companies present to 20-45 angel investors in each of the four cities. During the June roadshow, PolyAurum gained considerable interest from members in investing in the company and Travers is working with members to field a due diligence team to move the angel group closer to an investment. The Keiretsu Forum Mid-Atlantic group funded 37 of the 42 companies who presented to the group in 2016 and invested more than $3.0M in 16 life science companies.