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LIB Therapeutics Has An Unorthodox Funding Method And Big Plans

 
• By Elizabeth Cairns

Armed with highly satisfactory Phase III cholesterol-lowering data, the private group is heading to market alone – though it is open to offers.   

Money in sack on wooden table

There are a number of models for funding a private biotech company, but most involve going cap-in-hand to venture capital firms or other institutional investors and, after many meetings and much presentation of financial and scientific documentation, persuading them to part with their cash. Few biotechs seem to have thought of a much more convenient approach: simply pay for everything yourself.

"We have no investors. Myself and my partner funded the trials to date,” said Evan Stein, chief executive of LIB Therapeutics, LLC, which this week posted encouraging Phase III...

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