Hartford Business Journal

www.HartfordBusiness.com • February 4, 2019 • Hartford Business Journal 13 FOCUS Quality Construction + Butler Manufacturing = Repeat Customers www.borghesibuilding.com © 2011 BlueScope Buildings North America, Inc. All rights reserved. Butler Manufacturing™ is a division of BlueScope Buildings North America, Inc. 2155 East Main Street • Torrington, Connecticut 06790 Dupont Storage Systems, Bristol, CT | 2009 | 32,500 sq. ft., 46' tall 2012 | Addition — 15,300 sq. ft. Contact us at 860-482-7613 or visit us on the web. Looking to create a custom publication? Let us take care of it for you. ADVERTISING@HARTFORDBUSINESS.COM WWW.HARTFORDBUSINESS.COM/CUSTOMPUBLISHING | 860.236.9998 Whether it's the celebration of a major anniversary or the opening of a new headquarters, Hartford Business Journal's Custom Publishing Division can help you create a custom magazine for your business. Our division's top fl ight team of writers and designers can help you tell your story – and make your business look great! Based on our unique publishing model, it's surprisingly affordable. CALL TODAY! education and intensive customized networking to build their ventures during the six-month-long program. Q. How many companies were in the first accelerator? What were the results of the first accelerator? A. We accepted 12 ventures into both the first and second cohorts and 11 ventures completed the first cohort. In the first cohort, two ven- tures collectively raised more than $4.5 million of seed funding; three ventures received their first custom- er sales during the program; and 100 percent of the ventures that gradu- ated incorporated by the end of 2018. Q. What is Design Technologies' role in the accelerator program? A. Design Technologies helps build emergent intellectual property-fo- cused ventures. Design Technologies manages the top three biosciences ac- celerator programs in the Metro New York area: ELabNYC, Next Milestone and ABCT. We develop the program content, bring together a team of highly skilled mentors and entrepre- neurs from our networks and connect to our program participants. Q. One concern about Connecticut's bioscience industry is that it's spread out across the state. There are hubs in New Haven, Farmington and even along the coast line. Does the lack of a major bioscience center hurt the in- dustry's ability to grow in the state? A. While it may seem spread out, rela- tively speaking, Connecticut is a small state, with the maximum distance between bioscience hubs of less than 70 miles, which is a strength of the state. The ABCT program leverages hubs, holding program activities at univer- sity and corporate locations in New Haven, Farmington, Groton and Stam- ford. In contrast, 500 miles separate La Jolla from Palo Alto. We have an in- timate community of highly educated researchers who draw from each other and have contributed in major ways to the advancement of science. In addition, Connecticut benefits from its proximity to other major met- ropolitan and biotech hubs, including Boston and New York, with the benefit of high-quality education and lower real estate prices. autoimmune disease that effects about 3 million people in the U.S. Dealy's latest venture has attracted educational and development support from the Accelerator for Biosciences in Connecticut (ABCT), a competi- tive six-month accelerator program designed to encourage research students and faculty to form new bioscience ventures. Funded through Connecticut Innovations and CTNext, the program, which launched in 2018, features a mini- MBA curriculum, expert coaching, networking and venture advisors from corporate supporters. "We spend a lot of time help- ing with busi- ness modeling," said Mary How- ard, ABCT's program manager. "We help educate [researchers] about issues like intellectual property, finance and accounting and fundraising, and how all of that impacts their business growth." There are many key milestones for a research project to go through before an early stage company with space, employees and equipment is formed, Howard said. "Our goal is for our participating startups to develop a plan that they're ready to execute, but it's still very early in the [business] process," she said. That's what Dealy is currently focused on at DeMay Bio, which was selected with 11 other companies to participate in the second year of ABCT's accelerator program. "ABCT is helping us build our team out — and connecting us with all kinds of experts who can help us map our path forward," Dealy said. She said resources like ABCT, and what UConn has provided her, are helpful in building relationships with potential investors, including phar- maceutical companies. Dealy is also working to pass on the lessons from her entrepreneurial ventures to the next generation of scientists. She offers an immersive five-day course in bio innovation available to first-year UConn medical and dental students. "They learn about patents and the process of translating ideas into a [startup]," Dealy said. "It doesn't mean they'll all become entrepreneurs, but we want to expose our students to this kind of training so they understand the potential opportunities." Meantime, her advances in poten- tial solutions for rheumatoid arthri- tis are in the testing and validation stages. With a new long-term goal for her research, Dealy has changed some elements of her work. "There's a part that's still basic sci- ence and I will always love the intrica- cies of cells and genes and how they work," Dealy said. "But now I take a step back and think through the [potential] clinical benefits and see my research from a whole new lens." >> Business of Bioscience continued >> Q&A: Mary Howard continued Caroline Dealy, Founder, DeMay Bio

• Cover