I'm more surprised at his being referred to as Chairman and President than I am at his being there to raise capital.
It is one thing to be self-sustaining, that is covering costs, and quite another to have in front of you various aspects of Personalized Medicine research left to do, for which large amounts of money is needed.
Is is possible that he was not there seeking VC? The article stated BioTech sector. Could DNAP be there for other purposes, such as raising their profile?
Thats a question better posed to management at DNAPrint but in the past they've expressed interest in money up front for a share of downstream revenues.
Also, I wouldn't assume that self sustainability precludes any further funding. Lots of profitable companies seek funding to expand - but they have more tools available to them than DNAP. Venture capital is one of DNAP's only avenues.
Frog How Long Did You Work With Gomez? Did He Let You Go? TIA: GL2U & All The Best. Later, The Team.
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Posted by: frogdreaming In reply to: patiencepays who wrote msg# 1089 Date:7/11/2003 10:49:16 AM Post #of 60825
What is Gomez doing at a venture capital gathering?
I was under the impression that DNAP was approaching self sustaining levels of income from Ancestry. I had also been led to believe that the recently authorized shares would not be needed to any great extent and the potential dilution was not being considered.
If Gomez is soliciting venture capital, what is he offering in exchange?
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