For eight years, the DNB Nordic-American Healthcare Conference has been the leading US forum for US-Nordic healthcare investment and growth, bringing together promising Nordic innovation from biopharma, medtech, healthtech and health services companies to US investors, healthcare partners, colleagues and friends.
This year, the conference will take place December 6-7 in New York City. The event hosts and MVA members, Jonathan Gertler and Jan Upman of the DNB//Back Bay Partnership for Healthcare took a moment to chat with MVA about the investor and partnering forum and what sets it apart.
Q1: Why is this event important to DNB//Back Bay?
DNB//Back Bay is proud to host the Nordic-American Healthcare Conference each year and we enjoy and benefit greatly from the collaboration with the companies, investors and especially our partners, including Nasdaq, Business Sweden, Innovation Norway, and our supporting Nordic contributors, including Medicon Valley Alliance.
This year represents further evolution of the event, in that the companies will range from late-stage private companies ready for US investment and mid-to-large cap public companies with important technologies and treatments.
The NAHC has been a labor of love for DNB and Back Bay separately over the years and is the result of the dedication and shared undertaking by various and geographically disparate groups, committed to the same mission. It’s highly curated, a bit homemade and all together top-notch. This year is especially important to us as we’re hosting as true partners through the recent formation of our healthcare alliance.
So, we’re proud of the work done by the entire teams, the fantastic companies, partners/friends and investors that are hand-picked to join us in New York every year. We have repeat guests, and it’s always a pleasure to be in the same room together.
We’re proud that we have never charged our presenting companies or guests to attend the NAHC. The NAHC is not a for-profit industry event, but truly reflects the commitment by the hosts to the Nordic ecosystem to highlight the interesting and promising healthcare companies that cross our paths every day up to now but may not be completely known to US investors and potential partners. Or maybe they are familiar with these companies but given the opportunity to be in the same room, hear about milestones from the past year of development, ask good questions, hear from true leaders in the space, and enjoy each other’s company—that’s a real treat.
We’re also pleased when NAHC alumni have breakout moments—like Kerecis, “the fish skin company” recently acquired by Coloplast. In the medical device space, we’re proud of Palette Life Sciences, which was recently acquired by Teleflex. We are thrilled to watch these companies develop and find ways to address our most pressing health issues. It’s an exhilarating experience. And who doesn’t love New York City at Christmas time!
Separately, DNB and Back Bay have made this event an important part of our year. Now that we’re joined in our healthcare partnership, DNB//Back Bay, the introduction of innovation and solid companies to par is even more crucial to our mission of supporting healthcare growth at every stage.
Q2: How and why can Medicon Valley based companies contribute and participate?
We are always pleased to welcome MVA member companies as presenters and guests. This year, we are highlighting MVA member companies, UNEEG and Novo Nordisk. This event only invites healthcare companies, investors, and BD. Please request a seat at https://bit.ly/NAHC2023
For future presentation opportunities, MVA companies are welcome to submit a query to DNB//Back Bay at: healthcarepartnership@bblsa.com.
Q3: For MVA companies and others, what are your three key pieces of advice when looking to the US market and/or US investments?
Know the Path: Set the Strategy – Even for companies not yet ready to commit the resources toward US development or commercialization, we advise that you know the path ahead and “control the debate.”
What we mean is that by demonstrating to US investors that you have thought strategically and tactically about the transition from your home base to the complex US medical delivery system, they will be inclined to track your progress and, depending on fit and stage will have confidence that they are dealing with a management team that has the wherewithal to make it work and work well and therefore consider you an investment candidate.
Speaking of strategy – the EU regulatory environment is now in many ways tougher than the US one, so full definition of paths forward on both sides of the pond is crucial. While the paths differ for medtech and healthtech, for biotechnology we remember that chemistry and biology are the same in Aarhus and Akron Ohio. But reimbursement, IT integration, practice patterns and adoption cycles are vastly different. Do your homework on the product market fit, the competitive landscape, the commercialization issues and come prepared.
Understand that the cultural divide is an opportunity, not a barrier – Don’t worry about the perceived cultural divides between the US and the Nordics. Many Nordic teams wonder whether Nordic sensibilities may be an obstacle in the American investor setting. Mastery, confidence, humility and coachability, more than brashness, are all the traits that American investors like to see in any team.
Recognize that good governance is crucial – Ensure that you and your board are fully informed on the key differences in governance, financing vehicles, exchange trading dynamics and thresholds for public offerings and business models of American investors. Candid exploration of your counterparty’s wishes is never wrong.
Healthcare companies should feel confident that they are well positioned with technology that is superb, management is experienced and cohesive, and capital efficiency—which are all part of your great execution.
Of course, working with a partner like the DNB//Back Bay healthcare team will help to position and prepare you along the continuum of healthcare development!
Jonathan P. Gertler, MD is CEO and Managing Partner, Back Bay Life Science Advisors
Jan Upman is Senior Relationship Manager, at DNB Bank, Sweden