7. Funding Stages Company Stage Concept Company Sales / Profits Liquidity Product Devt and Commercialization 6 Funding Type Seed Stage (Series A) Startup (Series B) Expansion (Series C) Mezzanine (Series D) IPO or Merger RISK Higher Lower $$$ VALUE $$$ Lower Higher
8. Important Startup Rule #1 The more $$ you spend The more $$’s you have to raise The more of your opportunity you have to sell The less return you provide to investors… 7
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11. Anatomy of a Start-up… IPO FDA Approval; Product Launch Distribution Agreement Hired CEO; Key management in place FDA submission Animal studies completed; Start clinical trials Prototype completed; Funds raised Patents Disclosed Time (years) Valuation ($) 10
15. Understanding of the Opportunity 14 Very high Moderate - high Importance of Expense Control Lower Higher Likely Exit Value Shorter Longer Adoption Curve Novel Idea IP protection Customer willingness to change/adopt Technical/Clinical Market adoption timeliness Longer Higher Experienced team Laser focus Most Important for Success Execution timeliness and quality Competition Biggest Risks Shorter Time to Liquidity Lower Investment Dollars Needed Iterative Idea
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17. History of Interventional Cardiology 1977 1984 1988 1989 1997 1999 2000 2002 2003 2004 2005 2006 16
38. Self-expanding Nitinol multi-level frame Porcine pericardium Tissue Valve Disposable Loading System Delivery Catheter 18 French 12 Fr body The CoreValve Revalving™ System Self-Expanding Support Frame
39.
40. History of Interventional Cardiology 1977 1984 1988 1989 1997 1999 2000 2002 2003
