Program Terms

These terms govern the PharmStarsTM accelerator. Please read them carefully before applying to participate.

1. Program Overview

PharmStars is the pharma-focused accelerator for digital health startups. Applications are now being accepted and 10 startups will be selected for the Spring 2025 cohort. Each startup in the cohort participates in PharmaU^TM, a 10-week educational and mentoring program led by PharmStars staff and Mentor Advisors. After the initial in-person Launch Event in Boston, Massachusetts all PharmaU classes and mentoring occur virtually. Any startup, no matter where it is located, may apply.

PharmaU culminates with a private Showcase Event where startups pitch to PharmStars’ pharma members. Additionally, one-on-one meetings between startups and pharma members will be arranged at the Showcase Event. The Showcase Event will take place in person in Boston, MA. Further details will be shared with the cohort participants in advance of the event.

2. PharmaUTM

PharmaU is PharmStars’ proprietary educational program, developed and led by PharmStars’ professional staff. PharmaU has two components for startups:

a comprehensive, structured curriculum to teach startups what they need to know about pharma
individualized coaching and mentoring for startups on how to successfully engage pharma

Classes are interactive and focus on important pharma topics, including: the internal structure and functions of pharma, pharma business models, regulatory drivers, pharma-startup deal structures, and current industry trends. The curriculum is comprised of asynchronous videos and classes taught by the PharmStars expert staff and occasional external speakers. There are ample opportunities for peer-to-peer sharing and discussion. PharmStars’ pharma member representatives participate in “Fireside Chats” and “Members’ Panels” for the startups throughout PharmaU. Classes and mentoring meetings are held virtually.

3. Pharma Members

PharmStars is supported by its “pharma members” - forward-thinking pharma companies that have committed to assist our startups. Our pharma members have helped define our theme, reflecting the types of startups with whom they wish to partner. However, startups are selected entirely by PharmStars staff.

Each pharma member has designated a liaison (Champion), at the director-level or higher, with strong internal relationships and a passion for working with startups. The Champion serves as the connection between their company and PharmStars’ startups. Champions commit to attend the Showcase Event, meet one-on-one with startups, and assist in connecting startups that interest their firm with the appropriate contacts.

4. The Selection Process

Applicants:

PharmStars is designed to support digital health startups that:

want to engage pharma as clients, customers, or partners
would benefit from priority access to our pharma members
recognize the importance of an enhanced understanding of pharma

The ideal startup candidate would:

be interested in receiving education, mentoring, and coaching to create a clearer pharma-specific value proposition and better pitch to engage a pharma audience
have a prototype or product ready to be offered to, and used by, pharma
have an innovation related to the cohort theme
would benefit from introductions to pharma decision makers

Spring 2025 Cohort Theme: “Digital Innovations in Rare Disease”

Digital health innovations have the potential to transform every aspect of rare diseases, from drug development and clinical trials to patient care and patient, family, and provider support. We welcome startups with digital innovations addressing the unique challenges relating to any rare disease. Areas of interest include but are not limited to:

Identifying individuals with rare disease

Finding patients, despite the small populations
Overcoming the geographic dispersion of patients
Accessing and leveraging genetic data for patient identification

Diagnosing rare disease

Raising patient and provider awareness
Reducing delays in diagnosis
Developing novel biomarkers and diagnostics
Addressing genetic heterogeneity within certain rare diseases

Designing and executing rare disease clinical trials

Identifying and establishing trial sites
Collecting and monitoring patient data across disparate geographies
Enhancing patient support and education during trials
Navigating rare-disease-specific regulatory requirements
Tackling ethical challenges in treating small populations

Enhancing rare disease care

Providing resources for patients and families
Improving care coordination among providers
Supporting long-term patient engagement and follow-up

Novel collection and application of RWE
RWE endpoint design
Biomarkers

RWE generation and data sources
Data capture & remote monitoring
RWE data analysis

Digital health startups that have an innovative solution for rare diseases are encouraged to apply. The application deadline is January 26, 2025.

Selection Criteria:

Fit: Offers a promising innovation in the theme area.
Product Stage: Has a developed product or viable prototype that can be immediately adopted by pharma.
Need: Has not yet broadly and successfully engaged with pharma and would benefit from the education and coaching that PharmStars offers.

Eligibility:

All applicants must be 18 years or older.
Startups with and without pharma clients are welcome to apply. PharmStars is of value even to startups that have had some measure of success in previously engaging pharma as clients and customers.
Startups that have participated in other accelerators are welcome to apply.

Semi-Finalists Selection and Participation Deposit:

Startups whose applications advance to the semi-finalist phase will be notified by email on a rolling basis throughout the application and startup selection period. Upon notification, startups advancing to the semi-finalist phase will have 3 business days to:

Sign and return the “Participation Terms and Conditions Acknowledgement Form” acknowledging familiarity with participation terms and conditions of the program; and
Provide a $500 refundable Participation Deposit.
○ If the startup is not selected to participate, the deposit will be fully refunded within 30 days of notification.
○ If the startup is accepted to participate, the deposit will be credited toward the $6,000 tuition deposit required for participation or forfeited if the accepted startup declines to participate.

Startups that do not return the signed Participation Terms and Conditions Acknowledgement Form or do not supply the required Participation Deposit within 3 business days will not be given further consideration for participation in this cohort.

PharmStars invests significant resources in selecting finalists to participate in each cohort. The purpose of the Participation Deposit is to ensure that those resources are focused on applicants who are committed to participating in the program should they be selected.

Finalist Notification and Confirmation of Participation:

Applicants selected to participate in the Spring 2025 cohort will be notified by email on or around March 4, 2025. They will have two business days to confirm their intent to participate and pay the balance of their tuition. Otherwise, the invitation will be extended to another applicant.

5. The Application

Applications must be completed in one sitting, as they cannot be saved in draft form. However, a downloadable copy of the application is available.
Applications must be completed and submitted prior to 11:59 p.m. ET on January 26, 2025.
Applications will not be returned to the applicant after submission.

6. Investment + Tuition

Investment in Participating Startups:

Each startup that successfully completes the PharmStars accelerator program will receive an investment of $150,000 USD in the form of a SAFE (Simple Agreement for Future Equity). The SAFE is an agreement between the startup and the PharmStars Ventures Fund (PSVF) that will convert the investment into shares of the most senior share class in a subsequent equity funding round or liquidity event. The SAFE is a form of a loan that is simpler than traditional convertible notes.

The PSVF SAFE terms include:

no valuation cap
a 20% discount on the subsequent equity price

For reference, the full terms of the SAFE can be seen here. This document is not open for negotiation and needs to be signed as written. Minor modifications may be needed for the SAFE for non-US based startups.

To qualify for this investment the two primary representatives from the startup must successfully complete the PharmStars program which is defined as:

80% or greater participation in virtual classes and mentoring sessions
Completion of the asynchronous video classes (approximately 8 hours)
Creation of a PharmStars approved, pharma-focused pitch deck - developed during the program through projects supported by PharmStars mentors and staff
A pitch presentation at the Showcase Event

The SAFE investment will be issued within 4 weeks after the Showcase Event.
Only startups from countries in which SAFEs are a legal will be accepted into the program.

Tuition:

Tuition in the PharmStars PharmaU program is $30,000 USD covering participation of 2-4 startup representatives. Startups are required to pay a $6,000 tuition deposit upon acceptance into the program. The balance of tuition will be due at the time of program completion.

For startups that successfully complete the program and receive a SAFE investment from PSVF, the outstanding tuition balance can be paid out of the SAFE investment amount.

7. Startup Participation Terms

Representatives:

Each startup is expected to send at least two and up to four representatives to PharmaU. Representatives must be full-time employees (not consultants) with decision-making authority with regard to negotiating and signing contracts with prospective pharma clients. Ideally, this is the startup’s CEO and one or two other members of the senior leadership team. All representatives must be at least 18 years old.

Attendance:

PharmaU: Because our curriculum is tightly integrated, startup representatives are expected to attend all weekly PharmaU classes and personalized mentoring meetings. Attendance at approximately 45 minutes of each week’s classes will be optional.
Launch Event: Startup participants are expected to attend the in-person cohort Launch Event on March 18-19 in Boston, MA. Exceptions will be made for special circumstances.
Showcase Event: Startups are expected to present at this members-only event in May.
Member Meetings: Startups are expected to participate in one-on-one meetings requested by pharma members at the Showcase Event.

Timing:

Classes will be held virtually Mondays and Thursdays from 12:00-1:30 p.m. ET, from March 24 - May 15, 2025. There will be asynchronous video classes that participants watch at their convenience before their due dates. Members’ Panels and Fireside Chats will also take place during class time.
Startups will select mutually agreeable meeting times with PharmStars staff for weekly mentoring meetings.

Communications:

If selected as a semi-finalist, a startup must sign the Participation Terms and Conditions Contract and provide a $500 deposit within three business days.
If selected as a finalist, a startup must confirm their participation and complete their tuition deposit payment within two business days.

8. Timeline for the Spring 2025 Cohort

Applications due: January 26, 2025 (11:59 p.m. ET)
Semi-finalist notifications: Rolling basis
Semi-finalist forms and deposit due: three days after notification of status
Finalist acceptance notifications: on or around March 4, 2025
Cohort participation commitments due: two days after notification of acceptance
In-person launch event: March 18-19, 2025
PharmaU virtual classes: March 24 - May 15, 2025
Showcase Event: May 2025

9. Startups Engagement with Pharma

PharmaU is designed to educate and empower digital health startups. The knowledge and mentoring offered through PharmaU will equip startups to refine, enhance, and sometimes pivot their business models. Graduating startups will be well-positioned to successfully engage with pharma. To enable startups to fully prepare for their initial meetings and to increase the probability of a successful “initial meeting” with pharma members, contact between startups and members will be restricted to PharmStars-moderated engagements while PharmaU is in session.

Startups will gain tremendous insight into the functioning of pharma companies over the course of PharmaU, which may influence their plans for how to best engage pharma. As a result, startups may pivot their business model and/or description of their value proposition. It is, therefore, in the best interest of participating startups to limit initiation of new contacts with pharma until they have completed the accelerator. To take full advantage of our accelerator’s offerings, startups are strongly discouraged from starting new pharma business engagements from the time of acceptance into PharmStars until the conclusion of the blackout period.

Blackout Period:

During and after the Showcase Event, pharma members may engage with any startups that interests them. Immediately following the Showcase Event there will be a 4-week “blackout period.” During that time, PharmStars pharma members will have the opportunity to meet and negotiate with graduating startups. Public announcements of startups’ participation in PharmStars will be made after the blackout period.

10. Confidentiality

Startups must keep their selection, admission, and participation in PharmStars confidential until the conclusion of the blackout period (four weeks after the Showcase Event). Exceptions to the confidentiality requirement may be granted on a case-by-case basis for fundraising purposes.
Startups are required to keep PharmaU curriculum and materials confidential.
Startups are expected to share only non-confidential information with PharmStars.
Startups’ identities will be kept confidential from pharma members during the program to allow startups time to prepare their pitches and ready themselves for meetings at the Showcase Event.

11. Use of Name

PharmStars has the right to publicize names of all participating startups.
PharmStars has the right to use startups’ names and/or logos on the PharmStars website and in promotional materials.

12. Contacting PharmStars

For any questions or technical issues, please email info@pharmstars.com.

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