Post by LasVegas on Jun 21st, 2013 at 6:24pm
Did anybody else receive the following email?
Thoughts?
-Gregg in Las Vegas
"
Dear Cluster Headache Community,
I am writing today because we need your help to get BOL-148 developed. After countersigning a $19 million dollar term sheet, our venture capital pulled out because they could not get the big fast exit they wanted and now there is not enough money to advance our development strategy. This was the second time this has happened since we started Entheogen in 2010. In both cases, the retreat of investors did not have any negative bearing on either Entheogen or BOL-148 and in fact they both further validated our mission and resulted instead from their own internal considerations and how the investment fit their unique requirements.
In addition to the venture offers, we also have two major pharmaceutical companies interested in partnering to develop BOL-148, but they still require a little additional data before they will commit to an investment. Since receiving the second VC offer, we attracted two successful Life Science veterans with deep experience and understanding of developing Central Nervous System therapeutics and pain analgesics. We are completing a new package for investors with more data, and we are confident that we will get a third funding offer and this time we expect it will close. Despite all the major obstacles that have stood in the path of developing BOL-148, we have been able to overcome them and persevere. Unfortunately we are now at a critical juncture where we have only this last chance and should we fail, BOL-148 will have little prospect of ever becoming an approved medication.
A few thousand people from all over the world have registered at our website, and many have expressed an interest in helping us succeed. Thanks to recent changes in US law we are now for the first time able to crowd fund some of our work. Today we launched a 30-day campaign on START PRINTPAGEMultimedia File Viewing and Clickable Links are available for Registered Members only!! You need to
or 
END PRINTPAGE to raise $750,000, and we are emailing over 10,000 people for support plus other friends with large social networks to get the word out. None of this money will be used for any salaries, and all of it will go towards new development that includes hiring expert consultants and doing as many of the preclinical studies as we can afford. The work will begin 45-days from today.
Your help is critical to this effort. Any financial contribution you can make, regardless of the size, could mean the difference between BOL-148 becoming a medication or not. A large showing of support will encourage others. Spreading the word amongst your own social network will also play a big role and will help the campaign go viral. While we need a considerable sum of money, it is not out of reach and we may even be able to raise more which will allow us to possibly get past filing an Investigational New Drug application with FDA to be cleared for the next human clinical trial. Regardless of whether we raise the full amount or not, any funds will advance BOL-148 and significantly increase the odds of attracting new investment to pay for the large future studies. Indiegogo accepts payments via credit/debit card or Paypal. We greatly appreciate your consideration and thank you for all your support, and together we will succeed in making BOL-148 available for all.
Sincerely,
The Entheogen Team
START PRINTPAGEMultimedia File Viewing and Clickable Links are available for Registered Members only!! You need to or END PRINTPAGE"
Thoughts?
-Gregg in Las Vegas
"
Dear Cluster Headache Community,
I am writing today because we need your help to get BOL-148 developed. After countersigning a $19 million dollar term sheet, our venture capital pulled out because they could not get the big fast exit they wanted and now there is not enough money to advance our development strategy. This was the second time this has happened since we started Entheogen in 2010. In both cases, the retreat of investors did not have any negative bearing on either Entheogen or BOL-148 and in fact they both further validated our mission and resulted instead from their own internal considerations and how the investment fit their unique requirements.
In addition to the venture offers, we also have two major pharmaceutical companies interested in partnering to develop BOL-148, but they still require a little additional data before they will commit to an investment. Since receiving the second VC offer, we attracted two successful Life Science veterans with deep experience and understanding of developing Central Nervous System therapeutics and pain analgesics. We are completing a new package for investors with more data, and we are confident that we will get a third funding offer and this time we expect it will close. Despite all the major obstacles that have stood in the path of developing BOL-148, we have been able to overcome them and persevere. Unfortunately we are now at a critical juncture where we have only this last chance and should we fail, BOL-148 will have little prospect of ever becoming an approved medication.
A few thousand people from all over the world have registered at our website, and many have expressed an interest in helping us succeed. Thanks to recent changes in US law we are now for the first time able to crowd fund some of our work. Today we launched a 30-day campaign on START PRINTPAGEMultimedia File Viewing and Clickable Links are available for Registered Members only!! You need to
or END PRINTPAGE to raise $750,000, and we are emailing over 10,000 people for support plus other friends with large social networks to get the word out. None of this money will be used for any salaries, and all of it will go towards new development that includes hiring expert consultants and doing as many of the preclinical studies as we can afford. The work will begin 45-days from today.Your help is critical to this effort. Any financial contribution you can make, regardless of the size, could mean the difference between BOL-148 becoming a medication or not. A large showing of support will encourage others. Spreading the word amongst your own social network will also play a big role and will help the campaign go viral. While we need a considerable sum of money, it is not out of reach and we may even be able to raise more which will allow us to possibly get past filing an Investigational New Drug application with FDA to be cleared for the next human clinical trial. Regardless of whether we raise the full amount or not, any funds will advance BOL-148 and significantly increase the odds of attracting new investment to pay for the large future studies. Indiegogo accepts payments via credit/debit card or Paypal. We greatly appreciate your consideration and thank you for all your support, and together we will succeed in making BOL-148 available for all.
Sincerely,
The Entheogen Team
START PRINTPAGEMultimedia File Viewing and Clickable Links are available for Registered Members only!! You need to
or END PRINTPAGE"