Friday, September 26, 2008

The Pitch

Relay seeks to leverage biomed tech licensing

By Mass High Tech Staff

Relay Technology Management Inc.
Headquarters: Boston
Employees: 7
Founded: 2008
Web: www.relaytm.com
E-mail: bhyde@relaytm.com
Phone: 617-935-143
The Pitch: Relay is seeking seed funding to facilitate a three-year plan to hire and buy infrastructure capital aimed at generating $10 million to $15 million in revenue.

PITCHING THE TECHNOLOGY

Relay Technology Management Inc. says it leverages disease-specific, in-house scientific expertise, technology transfer experience, and academic and industry relationships to facilitate the licensing of early stage biomedical technologies. The company derives revenue from licensing deals and from selling research/information products. Relay says its primary goal is to drive commercialization of early stage ideas by selecting technologies with scientific merit and commercial potential, and finding development partners for licensure. The company was founded from a business plan that won the 2008 Tufts 50k Plan Competition and was a featured entrepreneurial venture at MIT Bioinnovation 2008. 

PITCHING THE PEOPLE

Who is on the management team? Brigham Hyde, co-founder and president; and Dave Greenwald, co-founder; both recent Tufts University Ph.D. graduates.

Have executives been involved in a cashout prior to this venture? No.

Who is on the board of advisers? The company says it is in the process of forming a board.

PITCHING THE BUSINESS

How much money is being sought? Relay says it’s seeking $1 million to $3 million for hiring and capital. 

What partnerships, collaborations or affiliations are already in place? Relay was a recent presenter at the Worcester Polytechnic Institute Venture Forum Spotlight on Entrepreneurs.

List any federal or state grants, contracts or awards received: None.

What’s the market size being pursued? Relay estimates its potential revenue from licensing deals in the northeastern U.S. could exceed $50 million within five years.

Who are the likely competitors, direct or indirect? The competition for Relay comes mostly from established tech transfer institutions like MIT and Massachusetts General Hospital, the company says.
 
Is the company profitable? No.