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The History of North Coast

What lengths would one go to address the question of whether or not you need venture funding to start a biotech company? 

“I hate it when people call themselves “entrepreneurs” when what they’re really trying to do is launch a startup and then sell or go public, so they can cash in and move on. They’re unwilling to do the work it takes to build a real company, which is the hardest work in business. That’s how you really make a contribution and add to the legacy of those who went before. You build a company that will still stand for something a generation or two from now. That’s what Walt Disney did, and Hewlett and Packard, and the people who built Intel. They created a company to last, not just to make money. That’s what I want Apple to be.”

“Some people say, “Give the customers what they want.” But that’s not my approach. Our job is to figure out what they’re going to want before they do. I think Henry Ford once said, “If I’d asked customers what they wanted, they would have told me, ‘A faster horse!’” People don’t know what they want until you show it to them. That’s why I never rely on market research. Our task is to read things that are not yet on the page.”

ImmGenics in Vancouver, BC

1994 issued SLAM tech patent

Raises $15M and deal with Corixa

2001, July - Stine hired by ImmGenics to take SLAM into cancer patients

2001, Oct - Abgenix buys ImmGenics (SLAM) for $77M usd

2003 - Stine returns to Seattle

2004 - 2007 Raises $5M to start Spaltudaq (aka Theraclone)

creates i-STAR technology

Raises $29M Series B

Generates 3 drug lead candidates

2002 - Abgenix licenses SLAM to Cell Tech (now UCB Cell Tech) for $17M

2003 - Cell Tech closes doors in Seattle

2004 - Alder Biopharma is founded using a SLAM-like approach (raised ~$70M + $1B deal with BMS)

2005 - Abgenix purchased by Amgen for $2.2B (purchase Abgenix EGFR antibody Vectibix isolated via SLAM)

Presently, UCB Cell Tech exclusively uses their SLAM-like process

2008-present - Stine founds North Coast Biologics w/o VC’s.

Creates the BLAST platform which is industrialized, deployed in multiple species, and for multiple fields of use.

Raised ~$2M over 4.5 yrs via partnerships

2008-present - Theraclone has 2 of 3 antibodies discovered by Stine in clinical trials.  They have raised an additional ~$20M, signed deals with Pfizer ($635M), Zinyaku Kogyo ($18M), IAVI (~5M).