Stony Brook University’s Office for Research and Innovation hosted its second Wolf Den event on February 12, highlighting the journeys of three biotechnology entrepreneurs who have moved from scientific discovery to building biotech ventures.
Wolf Den aims to connect investors, researchers, startup founders, and business leaders to promote technology development and economic growth in Long Island. Jim Acquaviva, strategic innovation director at OR&I, compared the drive of entrepreneurs to that of Olympic athletes. “We’ve had many conversations over the past few months about how inspiration drives innovation,” he said. “It does that for art and artists, but it also does that for technology researchers and entrepreneurs. The journey entrepreneurs take to start a business and go through the trials and tribulations that bring a vision to reality requires a level of inspiration to carry them forward.”
Michael Kinch, chief innovation officer at Stony Brook, discussed efforts with state administrators: “We’ve had a lot of engagement with administrators in Albany, and we’ve been talking not just about Stony Brook University, but about Long Island, and how we promote innovation and entrepreneurship on Long Island,” he said. “I’m a biotech person. I spent about half my career in biotech companies looking at building pipelines and figuring out how to become durable and sustainable. A lot of those same ideas are what we’re trying to apply here. The key is the pipeline.”
Participants heard presentations from Christopher Ashdown (CEO/co-founder of Lahara Bio), Raza Hassan (CTO/co-founder of IAMBIC), and Eve McDavid (CEO/founder of Mission-Driven Tech). McDavid shared her personal story as a cervical cancer survivor who was inspired by her experience working at Google: “I came up in a really interesting time where we were encouraged to use the training that we had at Google and the technology that we were discovering and experimenting with and going out into the world and to find really big, hard-to-solve problems that Google’s technology might be able to do something with,” she said. “I have this ingrained education around investigation and discovery and experimentation and impact.”
She described facing outdated medical devices during treatment: “When I went through treatment, I realized that the medical devices that were being used are the same devices that were used in the 70s,” she said. “So I had questions about what I thought was insufficient technology. And that simple question registered curiosity on the faces of the doctors who were involved in my care. I said, ‘I’ve seen that face before; that face is discovery.’”
McDavid explained how these experiences led her toward problem-solving in healthcare: “We have a functional prototype, and we’re getting ready for a clinical test later this year,” she said. “We’re working with the Center for Biotechnology on that project, and there’s a very, very bright future in cervical cancer treatment once women have the quality of care that they deserve.”
Ashdown discussed collaborating with Stony Brook’s tech transfer office (TTO) as part of moving academic discoveries toward commercialization: “Here at Stony Brook, and with any technology coming out of academia, it’s critical and necessary to work closely with your tech transfer office,” he said. “We’re currently in the process of negotiating licensing deals with our TTO, and we have been fortunate to have a very close and positive relationship with them over these past years.” He advised other entrepreneurs: “…be actively engaged with the TTO… be proactively engaging…and working closely…”
Hassan addressed funding challenges faced by early-stage companies during his company’s launch amid heightened competition due to COVID-19 grant activity: “When we started the company back in 2020 we applied for our first SBIR (Small Business Innovation Research)grant,” he said. “…within nine months we started our Phase I…then moved to Phase II.” He described SBIR grants as essential seed funding allowing small businesses proof-of-concept research followed by continued support if successful.
“Currently we are in the last leg of our Phase II… Along with grants from NSF [National Science Foundation], we also received matching funds from New York State.” Hassan noted state support helps startups hire talent beyond R&D needs.
“The non-diluted funding can be a lifeline for biotech companies in early stages… Later on…get strategic…you need investors who are aligned with your vision…” He cautioned SBIRs can take time—sometimes up to two years—and recommended focusing early on developing prototypes.
Attendees found value across disciplines. Louis Peña from Stony Brook commented on fostering an entrepreneurial environment: “Sometimes words like ‘ecosystem’ get dismissed as buzzwords…but for Stony Brook…you need an ecosystem…This is…the second Wolf Den event…I’m looking forward to next one.”
Kinch emphasized resources available through events like Wolf Den: “These are success stories we’re trying facilitate…There are many resources people don’t know about…Part of our goal is make you all aware so can help you all succeed.”
