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Frequently Asked Questions
- What is a "Partner Company"?
- Synogen refers to companies with which it works as "partner companies" to differentiate the relationship from a consulting company or a contract for services. Synogen partners with select early-stage biotech and med-tech companies. We provided assistance to those companies in areas of management, business plan development, strategic planning, financial forecasting, regulatory and intellectual property issues, market research and venture funding. We take an active role in working with the executive management team of the partner company, and we take an equity position in the company rather than a cash fee.
- How does a company begin the process with Synogen?
- Contact us, giving us a summary of the product or technology involved, without disclosing any confidential information. We will follow up by sending you an executed confidentiality and nondisclosure agreement to protect you in sharing your confidential information. Once we receive that information, we will arrange discussions. If both parties wish to move forward from that point, we will send a non-binding Letter of Offer (LOO) with proposed terms and commitments. If both parties are able to come to agreement on the terms and commitments, we will have a definitive agreement prepared. No one is obligated in any way until or unless that definitive agreement is signed.
- What kind of agreement does Synogen enter into with its partner companies?
- Our agreements typically specify the commitments we will make to the success of the company. Those commitments generally include certain amounts of time, certain roles, and specific work product from Synogen principals. The work products often include business plans, operational plans, regulatory plans or IP and licensing plans, as well as elements of those plans. We often commit, as well, to certain milestones in seeking venture funding. The partner company is also asked to make certain commitments that Synogen believes will be instrumental to the success of the company. The agreement typically provides Synogen a percentage of the equity in the company, with the same rights and privileges as the other founders. If cash investment is involved by Synogen, that investment is often made separately and may contain financial provisions such as certain stock preferences and tag-along or piggy-back rights with future investors.
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