Joshua Elkington
Joshua Elkington
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Axial - Observations #22

Axial - Observations #22

SubscribeMore well thought out work can be found at — Axial partners with great founders and inventors. We invest in early-stage life sciences companies often when they are no more than an idea. We are fanatical about helping the rare inventor who is compelled to build their own enduring business. If you or someone you know has a great idea or company in life sciences, Axial would be excited to get to know you and possibly invest in your vision and company . We are excited to be in business with you - email us at   A set of ideas and observations from a week’s worth of work analyzing...

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Joshua Elkington
3d ago
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Life Sciences Financings and Commentary #19

Life Sciences Financings and Commentary #19

SubscribeMore well thought out work can be found at — Axial partners with great founders and inventors. We invest in early-stage life sciences companies often when they are no more than an idea. We are fanatical about helping the rare inventor who is compelled to build their own enduring business. If you or someone you know has a great idea or company in life sciences, Axial would be excited to get to know you and possibly invest in your vision and company . We are excited to be in business with you - email us at   Number of deals: 11 & Total capital invested: $817.6M- raised $72.6M led by...

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Joshua Elkington
4d ago
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Axial - Observations #21

Axial - Observations #21

SubscribeMore well thought out work can be found at — Axial partners with great founders and inventors. We invest in early-stage life sciences companies often when they are no more than an idea. We are fanatical about helping the rare inventor who is compelled to build their own enduring business. If you or someone you know has a great idea or company in life sciences, Axial would be excited to get to know you and possibly invest in your vision and company . We are excited to be in business with you - email us at   A set of ideas and observations from a week’s worth of work analyzing...

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Joshua Elkington
Aug 1
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Axial - New Medicines #12

Axial - New Medicines #12

SubscribeMore well thought out work can be found at — Axial partners with great founders and inventors. We invest in early-stage life sciences companies often when they are no more than an idea. We are fanatical about helping the rare inventor who is compelled to build their own enduring business. If you or someone you know has a great idea or company in life sciences, Axial would be excited to get to know you and possibly invest in your vision and company . We are excited to be in business with you - email us at   A weekly overview of the development of new medicines.- with Bristol Myers...

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Joshua Elkington
Aug 1
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Life Sciences Financings and Commentary #18

Life Sciences Financings and Commentary #18

SubscribeMore well thought out work can be found at — Axial partners with great founders and inventors. We invest in early-stage life sciences companies often when they are no more than an idea. We are fanatical about helping the rare inventor who is compelled to build their own enduring business. If you or someone you know has a great idea or company in life sciences, Axial would be excited to get to know you and possibly invest in your vision and company . We are excited to be in business with you - email us at   Number of deals: 24 & Total capital invested: $1.4B- raised $13.9M led by...

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Joshua Elkington
Jul 31
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Axial - Observations #20

Axial - Observations #20

SubscribeMore well thought out work can be found at — Axial partners with great founders and inventors. We invest in early-stage life sciences companies often when they are no more than an idea. We are fanatical about helping the rare inventor who is compelled to build their own enduring business. If you or someone you know has a great idea or company in life sciences, Axial would be excited to get to know you and possibly invest in your vision and company . We are excited to be in business with you - email us at   A set of ideas and observations from a week’s worth of work analyzing...

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Joshua Elkington
Jul 25
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Life Sciences Financings and Commentary #17

Life Sciences Financings and Commentary #17

SubscribeMore well thought out work can be found at — Axial partners with great founders and inventors. We invest in early-stage life sciences companies often when they are no more than an idea. We are fanatical about helping the rare inventor who is compelled to build their own enduring business. If you or someone you know has a great idea or company in life sciences, Axial would be excited to get to know you and possibly invest in your vision and company . We are excited to be in business with you - email us at   Number of deals: 22 & Total capital invested: $627M- raised $50M with...

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Joshua Elkington
Jul 24
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Value investing in life sciences

Value investing in life sciences

SubscribeAxial partners with great founders and inventors. We invest in early-stage life sciences companies often when they are no more than an idea. We are fanatical about helping the rare inventor who is compelled to build their own enduring business. If you or someone you know has a great idea or company in life sciences, Axial would be excited to get to know you and possibly invest in your vision and company . We are excited to be in business with you - email us at   Is value investing possible in life sciences? This piece uses a set of case studies to show there is the potential to use...

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Joshua Elkington
Jun 24
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Axial - Founder-driven life sciences companies

Axial - Founder-driven life sciences companies

SubscribeHistorically founders have created some of the world’s most important businesses from Standard Oil to Amazon to Genentech. Simply if you’re the initial designer of a business or anything in general, you’ll know the limits of the company and its technology and act appropriately. This might seem obvious but founders who set the initial conditions of a business and understand the underlying thesis have a good shot at creating something great. It doesn’t mean a non-founder cannot do great work at a given company, but the bar for them is definitely higher. Given that founders create...

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Joshua Elkington
Aug 29
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Axial - Observations #13

Axial - Observations #13

SubscribeMore well thought out work can be found at — Axial invests and partners in early-stage life sciences companies. If you or someone you know has a great idea or company in life sciences, Axial would be excited to get to know you and possibly invest in your vision and company — A set of ideas and observations from a week’s worth of work analyzing businesses and technologies.Lupus and the power of the human immune systemLupus in particular systemic lupus erythematosus (SLE) is a pretty bad autoimmune disease. I have a personal connection to it - SLE’s complexity and heterogeneity make...

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Joshua Elkington
Jun 5
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Substitutes and complements in life sciences

Substitutes and complements in life sciences

SubscribeAs always, if you or someone you know has a great idea or company in life sciences, Axial would be excited to get to know you and possibly invest in your vision and company.Strategy in life sciences is often focused on new technologies or discoveries - investing in them and hoping that creates enough value to get approval, go public, or get bought out. This makes sense given that high levels of technical risk upfront for most companies in the field. This high activation energy for most companies in life sciences doesn’t allow for too much deep thinking about business models....

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Joshua Elkington
Mar 12
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Business Model Matrix

Business Model Matrix

SubscribeTo build off the analysis on substitutes and complements in life sciences - , the output of that work is a business model :Technologies enable new business models but the underlying market structures determine how successful they can be. From a simple supply chain view, there are four major business model classes:Consolidated demand and supplyWith a market that has simple distribution but pressure on pricing is a market that sets a high bar for success. This is not the ideal market structure, it might be the worst out of the four, so a business needs to solve a big problem (i.e....

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Joshua Elkington
Mar 14
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Axial - Guardant Health

Axial - Guardant Health

Subscribe is one of the canonical case studies on how to design a diagnostics business that can potentially generate drug-like economics. With the basis of monitoring cancer development across every stage, Guardant is  likely with a partner. Whereas most diagnostics companies suffer from mediocre economics over time as competition increases mainly because the moats of diagnostics businesses are not strong other than scale (i.e. Quest, Danaher), Guardant is using the model to garner economic deals similar to a drug company. With the underlying platform mapping out patients’ entire experience...

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Joshua Elkington
Aug 2
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Axial - AbCellera

Axial - AbCellera

Subscribe is an emerging antibody discovery company led by Carl Hansen, a professor at the University of British Columbia. Formed around his core inventions on microfluidic valves, AbCellera combines microfluidics and next-generation sequencing to identify new antibodies. Similar to Adimab, AbCellera is of interest due to the unique economics it generates. Instead of developing a drug internally, the business model discovers unique molecular matter and licenses it out to companies whose core competency is clinical development. With the high clinical demand and vast target space for...

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Joshua Elkington
Aug 2
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Life Sciences Financings and Commentary #7

Life Sciences Financings and Commentary #7

SubscribeMore well thought out work can be found at — Axial invests and partners in early-stage life sciences companies. If you or someone you know has a great idea or company in life sciences, Axial would be excited to get to know you and possibly invest in your vision and company — Number of deals: 18 & Total capital invested: $340.4M- raised $4M from CR2 Ventures and DM Wellness to commercialize their corporate wellness app focused on telemedicine. Despite the generic-style of the product, if the company can get the corporate contracts, that’s a pretty nice lock-in to get. There’s a lot...

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Joshua Elkington
May 15
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Observations #10

Observations #10

SubscribeMore well thought out work can be found at — Axial invests and partners in early-stage life sciences companies. If you or someone you know has a great idea or company in life sciences, Axial would be excited to get to know you and possibly invest in your vision and company — A set of ideas and observations from a week’s worth of work analyzing businesses and technologies.Business models for brain scienceThere are a wide range of companies developing products to measure brain activity non-invasively:CTRL-Labs - Neurable - Neurosity - Kernel - BrainCo - There is a plausible pathway...

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Joshua Elkington
May 15
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Axial - DiCE Molecules

Axial - DiCE Molecules

SubscribeAxial invests and partners in early-stage life sciences companies. If you or someone you know has a great idea or company in life sciences, Axial would be excited to get to know you and possibly invest in your vision and company — To simplify this newsletter, if you want to receive: is pushing the business model possibilities for small molecule companies. Centered around a directed evolution technology for DNA-encoded libraries, DiCE is a useful case study on how hard it is to build a licensing business for small molecules and how to use a small molecule platform to find rare...

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Joshua Elkington
May 12
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Axial - New frontiers #1

Axial - New frontiers #1

Subscribe3D GenomeAutoimmunityNanoporesMass spectrometryDepressionAging biomarkersCryo-EMGenome engineeringGlobal medicineDrugging non-coding targetsIf you’re a founder or an inventor in this field, Axial would be happy to help and possibly invest in the company or key experiments.Axial invests and partners in early-stage life sciences companies. If you or someone you know has a great idea or company in life sciences, Axial would be excited to get to know you and possibly invest in your vision and company — info@axialsprawl.comAlso, go 49ers today - I’m a Packers fan, but I’m a Kyle...

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Joshua Elkington
Feb 2
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Early-stage companies - Novome

Early-stage companies - Novome

SubscribeMore well thought out work can be found at — Novome is led by Blake Wise (CEO) with the founders being Liz Shepherd, Will DeLoache, Weston Whitaker, and Zachary Russ. Blake is the former CEO of Achaogen (a great case study on the current status of antibiotic businesses), and the founders were graduate students from Stanford and UC Berkeley. The idea originated out of research in the Sonnenburg Lab at Stanford developing new tools to engineer Bacteroides in the microbiome.Novome develops engineered microbial therapeutics what they call genetically engineered microbial medicines...

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Joshua Elkington
Apr 30
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