Analysis 8/12/23
Surveying great inventors and businesses
Axial: https://linktr.ee/axialxyz
Axial partners with great founders and inventors. We invest in early-stage life sciences companies such as Appia Bio, Seranova Bio, Delix Therapeutics, Simcha Therapeutics, among others 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 info@axialvc.com
Addgene is one of the most widely used products for scientists. Serving >100K scientists. Generating well over $23M in annual sales. With their collection of ~131.8K plasmids from around 5,668 research labs. Along with their expanded product offering of AAVs, CRISPR reagents, and antibodies.
One of the few biotech companies with product-led growth. Started in 2004 by Melina Fan with her brother Ken and husband, Benjie Chen to fix plasmid sharing, Addgene is now the definitive plasmid repository. As a non-profit, they facilitate the exchange of genetic materials between labs, taking a fee for commercial use.
The non-profit part makes Addgene difficult to replicate because they had different incentives and were tax-exempt. But many parts of Addgene are replicable and could be powerful tools to distribute products widely in biotech & beyond:
First Addgene provides some of the best references and overviews on key experiments & reagents in life sciences. With their free online database for plasmid cloning information/references along with CRISPR gene editing, antibody production, and more.
Allowing free-use for academics and charging for commercial use. A tactic used by other widely used products in biotech like Benchling and BenchSci.
Most importantly, Addgene has pioneered electronic material transfer agreements (eMTA). Protecting the IP of plasmid depositors while streamlining the process for fulfilling plasmid orders. Something like 80%-90% of their users rely on eMTAs. With <14 days to get plasmid deposits approved and <36 hours to approve plasmid requests.
Offering a case study showing the power of building references online to promote their product; similar to Zapier. Along with lowering the barriers of entry for academic use and sharing of IP.
