A brand-new network of life science angel investors has popped up in Atlanta. The Bio/Med Investor Network is looking for startups in the biomedical, medtech and health IT spaces.
The group’s backed by Atlanta health industry A-listers, the Atlanta Business Chronicle reports, and expects to have 75 investor members by the end of the year.
It plans to bankroll portfolio startups with between $200,000 and $2 million, though it’ll consider other dollar amounts if the situation’s right, Bio/Med says on its website.
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“We are not a fund,” Bio/Med says – instead, it’s a network to connect high net worth individuals with promising startups. “We strive to improve access for biotech, medtech and other healthcare companies to more resources and opportunities to strengthen the industry’s investment community in Georgia, the Southeast region and the U.S.”
It’s supported by Georgia Bio, the Georgia Research Alliance, and the state’s research universities like Emory, Georgia Institute of Technology and Morehouse School of Medicine. Despite the heavy focus on Georgia, the angels are open to invest in out-of-state startups.
Some of the fund’s backers, according to the Atlanta Business Chronicle, are Emory professor and pharma exec Ray Schinazi, Emory professor Dennis Liotta, Immucor CEO Bill Hawkins, Arbor Pharma CEO Ed Schutter, cardiologist Jay Yadav and venture capitalist John Huntz.
The network’s still in absolute nascence, and hasn’t yet announced any portfolio companies. Stay tuned, or apply here: The first investment screening will be March 5 this year. To attend the meeting, you have to apply by February 9th.
