Cytonics is a biotech company developing therapeutics for osteoarthritis. After a previously successful Reg CF round in 2019, Cytonics returned for a larger Reg A raise to begin manufacturing its lead drug candidate CYT-108 and push it through phase 1 clinical trials. After the recent success of the campaign, we connected with Joey Bose, President and CEO of Cytonics, to learn more about his experience conducting his second round of equity crowdfunding on SeedInvest.
- Amount Raised on SeedInvest: $4.7M
- Offering Type: Reg A+
- Round Size: $19M
SeedInvest: How did you find out about SeedInvest and what led you to choose this route of fundraising?
Joey Bose: We found SeedInvest while exploring the idea of conducting our initial Reg CF raise. We decided to return for our Reg A campaign because we felt that we were still too early-stage for institutional capital.
SeedInvest: What did you most value about fundraising on SeedInvest, and working with our team?
Joey Bose: I most valued the overall aggressiveness of the campaign. You get a good deal of investor outreach and get to participate in many presentations.
SeedInvest: What was the greatest challenge you faced around fundraising? If you had to do it all over again, what would you approach differently?
Joey Bose: Explaining the story. Biotech is a tough sell to investors outside the industry. We would have spent some more time crafting the message.
SeedInvest: What do you wish you had known going into the fundraising process on SeedInvest that you know now?
Joey Bose: Going into the raise, I wish I had known more information surrounding the SEC disclosures and filings.
SeedInvest: If you could give one piece of advice to an entrepreneur looking to raise on SeedInvest what would it be?
Joey Bose: Be prepared to dedicate a lot of time to the campaign. You will need to maintain constant communication with potential investors to convert them.
To learn more about Cytonics, click here.
This post was written by Alexandra Tynion on July 20, 2021