In The News
San Diego Magazine Features Jay Lichter in an Article on San Diego VCs
As one of San Diego’s prominent venture capitalists, Jay Lichter, Ph.D., was interviewed for the inaugural issue of Hatch, San Diego Magazine’s new quarterly innovation special edition. The article delves into the San Diego VCs who are funding the translation of scientific discoveries into medical products that can help patients around the world.
It’s about 15 years from scientific breakthrough to medical product, and it’s costly – estimates range in the low billions. And the whole enterprise needs people with lots of different and specific expertise.
During his experience with early-stage investing, Lichter found that entrepreneurs can burn out in the years before a product gets close to market. Young CEOs often underestimate how long a process will take or how much it will cost and have trouble delegating in support areas, like accounting and IT.
To help smooth the path, Lichter created COI Pharmaceuticals, a community of innovation and early-stage company incubator. COI provides a fully-equipped R&D infrastructure and eliminates operational noise, so entrepreneurs can focus on drug discovery.
The article discusses further how VCs find ideas, put together teams, and why San Diego is a great place for biotech.