In this episode of the Africa Biotech Conversations podcast, our host Dr Adrienne Leussa engages in a captivating discussion with Gian-Marco Melfi, a partner at One Bio Venture Studio. One Bio is a venture capital fund that focuses on investing in local biotech startups in Africa. Marco, a biomedical scientist with a background in biochemistry and biomedical sciences, shares his fascinating journey from research to startups and now investing and funding early-stage biotech companies. 

  

Marco discusses his experience at Cambridge University, where he supported biotech startups and spinouts through the Milner Therapeutics Institute. He highlights the advantages of building a biotech hub in Cape Town, South Africa, including the availability of talented scientific graduates and the potential for creating supportive ecosystems for startups. 

  

The two delve into the competitive advantage of building a biotech business in Africa, emphasising natural biodiversity and genetic diversity. Marco explains One Bio's approach to making first-time investments, focusing on competitive advantages, team dynamics, and advisory support to refine startup ideas. He underscores the importance of understanding the science behind investments and how the One Bio team's scientific background contributes to their success. 

  

The conversation also covered government involvement in the biotech industry in South Africa. Marco highlights the support mechanisms provided by the Department of Science and Innovation, such as soft grant funding and supporting funds and platforms. They discuss the thriving bioeconomy in South Africa and the significant role played by the government's bioeconomy strategy. 

  

Moving forward, Marco shares a story of one of their portfolio companies in the future of food or food tech space, showcasing their resilience in closing a pre-seed round with international investors. The challenges of raising international capital are explored, along with the tips and learnings gained from their fundraising journey. 

  

Marco emphasises the importance of building networks proactively and developing resilience and connections beyond scientific ideas. They stress the need for thorough preparation and the ability to answer technical, business development, financial, and budgeting questions. 

  

Marco reflects on his time studying biochemistry at Stellenbosch University, crediting senior biochemists' mentorship for solidifying his interest in the field. He also shares an inspiring story of a founder's dedication and determination witnessed in the Milner incubator. 

  

Marco discusses the commitment and sacrifice required to build a successful biotech company. He draws inspiration from notable biotech companies like Kappa Bio Systems and Gyroscope Therapeutics. Marco reveals One Bio's plans for expansion into other African countries like Nigeria, Kenya, and Egypt. 

  

Crucial elements for a thriving biotech ecosystem are highlighted, including access to capital, support mechanisms, and talent. Marco emphasises the importance of shared access laboratories and support offerings to foster a sense of community among startups. He acknowledges the growing number of biotech startups in South Africa and other regions and emphasises the need to learn from other ecosystems while tailoring approaches to the local context. 

  

Tune in to this enlightening episode as Marco shares their expertise, experiences, and vision for the future of biotech in Africa.