"Switzerland is a unique place for starting a company, especially in the biotech industry"

1.    How and why did you launch your startup?

About two years ago, we had the idea to combine peritoneal dialysis – a common medical procedure – with a detoxification technology developed in the laboratory of Prof. Leroux (ETH Zurich). This combination led to a patentable product with several promising medical applications. The first in vivo tests with this microvesicle-based peritoneal dialysis worked so well that we immediately understood the potential of this newly-engineered detoxification therapy. From that moment, things moved rapidly forward. Our patent was selected to be among the best ETH inventions of the year, we received support through the ETH Pioneer Fellowship, and our strategy/markets/financials were put together into a business plan that was awarded at several occasions. With such a positive start, Versantis has the wind at its back and an encouraging future ahead!

2.    What is the meaning of your company name?
In a way, the name Versantis tells the whole story of our company and contains two of our core foundations: versatile and antidote. The latter describes the action of our product: neutralizing the toxicity of poisons, drugs, or toxins; and the former highlights its wide range of application.

3.    What stage of its development is your startup today? What are the next steps?
By now, Versantis has shown to hold a strong business case with high potential. However, the greatest challenge remains ahead: fundraising! Being in the biotech field, Versantis will need substantial financial support to bring its product to the patients’ bedside. Nevertheless, as Versantis’ product responds to unmet medical needs in two large and rapidly growing markets (acute liver failures and drug overdoses), the founding team remains very optimistic!
In terms of product R&D, Versantis has already demonstrated the proof of concept in rats. We hope to conclude all preclinical trials by the end of 2015 and start the first-in-man studies right after. The upcoming two years will be an exciting period for us!

4.    How is your startup positioned regards to your competitors (on the market)?
Our product is safe, efficient, and can easily be provided in any medical facility around the globe. On the contrary, the detoxification therapies available today (hemodialysis) are very heavy in terms of costs, technical complexity, as well as personnel requirements, and can induce lethal complications. Versantis’ product has a clear competitive advantage compared to hemodialysis, which is particularly difficult to implement in severe and pediatric cases. Thanks to its technical simplicity, our product presents a great opportunity to treat patients in developing countries, where hemodialysis is rarely available.

5.    Why did you apply for venture kick?
Venture Kick is the most widely recognize Startup acceleration program in Switzerland. It is for us an excellent opportunity to present our venture to a professional and critical audience, to increase our visibility, and to get access to initial funds necessary to build up our business.

6.    Explain how the venture kick program helps you?
Venture Kick has been extremely kind at opening its large network within the biotech/pharma ecosystem. This bridge towards Switzerland-based advisors/investors is the most valuable support Versantis could profit from at a startup phase. In addition, the business acceleration programs, the online visibility, and obviously, the financial supports were very helpful.

7.    How did you convince the jury?
Well, that’s probably the hardest question. I think we successfully showed a clear focus and well-though development strategy. The presentation itself was also solid and the team confident during the Q&A session. Additionally, the high medical needs and large market potential must have help to convince them as well.

8.    What kind of advice would you give to another young entrepreneur?
In three words: go for it! Switzerland is a unique place for starting a company, especially in the biotech industry. There is plenty of support from different sources, so go out, talk to people, learn, adapt, and make your company visible.

9.    Why would you recommend the venture kick program to other startups?
Network, funding, advices, acceleration programs, and visibility. Venture Kick is the perfect place to start, it is an excellent opportunity to rehearse and clarify your pitch, and it does help you to turn your venture upside down to challenge your business strategy.

10.  What do you think is the impact of the venture kick program on the Swiss startup industry?
We need programs such as Venture Kick. These programs are the bridging link between great ideas or academic projects and industrialization. They are necessary to keep Switzerland’s innovation dynamism high.

11.  You participated also to venture leaders USA, what did you get out of it?
Venture Leaders was definitely an intense program. What did I get out of it? Valuable skill sets in terms of management, business strategy, partnership, negotiations, and presentation. But the most significant outcomes were new contacts I met during this trip, which are now important advisors, and of course the great fun we had with the other Venture Leaders.