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If you’ve ever pitched your new business idea to a venture capital angel investor, only to be tortured with an endless list of reasons your idea will never work, my sympathies go out to you. The rejection of being told your business idea su

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

cks can be incredibly painful.

That said, I think you need to keep one thing in mind while you’re being told what a buffoon you are for presenting your idea – maybe this venture capital angel investor has no idea what they hell he’s talking

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

about!

It’s true, most venture capital angel investors don’t know jack. Don’t get me wrong – they think they know it all, but the truth is that most investors have a lot to say, and very little to deliver. The problem for entrepreneurs is

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

that they tend to think that because venture capital angel investors can write a check, they must be experts on investments. That’s like saying that because you can buy a few shares of Gillette that you might be Warren Buffet. Not quite.

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

Consider the Source

When you’re listening to the feedback from anyone, investors included, you should evaluate the credibility of that feedback with healthy skepticism. You should be asking yourself “What makes this person qualified to val

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

date my business idea?”

While many venture capital angel investors have experienced success in one or two industries at some period in time, that doesn’t necessarily make them an expert on your current business opportunity. Just because an

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

venture capital angel investor made a gazillion dollars in the real estate industry in 1976 doesn’t mean he’s qualified to tell you about the state of the software industry in 2006.

Ideally you want to solicit feedback from venture capital

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

angel investors who have “been there and done that” in your particular industry, preferably sometime in the last decade! The last thing you need is to waste your time listening to ancient war stories of an venture capital angel investor who

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

hasn’t suited up for the game since before you were born.

Venture Capital Angel Investors Make Bets, NOT Predictions

If venture capital angel investors knew exactly which market opportunities were going to be the next big thing they wouldn

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

t need you – they could go start the company themselves. Investors aren’t that gifted, so they need to make lots of bets in hopes that a few of them will hit big while the others fall away and die.

When an investor tells you they don’t see

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

the viability of your business, they are simply telling you that they are not willing to bet their money on your particular idea (or in many cases, on you in particular). It’s not the same as making a prediction that you will fail. The tru

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

th is the investor has no idea whether or not you will ultimately be successful, only whether they have enough confidence to bet on your success.

Bad Investors Are Like Black Holes

Not every investor is worthy of your time either. Bad inv

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

stors, particularly those without much success at investing, can be a black hole for entrepreneurs, sucking up time and space at an incredible rate.

They spend countless hours asking inane questions that they should know the answer to. The

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

spend a lot more time talking than they do listening. They ask more questions not because they want to know more, but because they don’t know enough to begin with. If you find yourself in front of this investor – run away as fast as you c

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

an! They are going to suck the life out of you.

Conversely, good investors get to the point quickly. They understand the industries they invest in and they don’t need to be “brought up to speed” about industry events that have occurred in

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

he past few years. They are less concerned about learning your industry and drive straight into the few aspects of your business that will make or break you. They can do this quick analysis because they actually know what they’re talking a

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

out.

All Investors Are NOT created equal

It’s no surprise that the best venture capital funds consistently churn out the best startup companies – it’s because they are better investors than the other funds. Just like investors are looking

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

for the best ideas, entrepreneurs should constantly be looking for the best investors to pitch their ideas to.

Unlike entrepreneurs who often only have one hit, good investors typically have a long track record of successful investments.

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

f they don’t, that should be a big red flag to the entrepreneur. They might have some money, but that doesn’t mean they have talent.

So the next time you’re sitting across from some know-it-all investor who is telling you how your company c

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

uldn’t possibly succeed, ask yourself “is it possible that this guy has no idea what he’s talking about?” Surprisingly, the answer will often be yes! And when it is, don't hesitate to find yourself a competent venture capital angel investor

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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