Mirna Therapeutics Gains $1.5M In Equity Funding

Mirna Therapeutics, Inc. will be looking into further research and product development with the help of their most recent equity funding round worth $1.5 million.

They have also enjoyed  a couple of successful financing rounds from the Texas Emerging Technology Fund back in 2009 (worth $5 million) and in 2010 from the Cancer Prevention & Research Institute of Texas (CPRIT) (worth $10.3 million).

The company CEO Dr. Paul Lammers, MD, MSc has provided us more information about Mirna Therapeutics in this recent e-interview with Lead411:

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Are You Spending Enough Time on Product Development?

If you sell products, you know that product dev is the most important part of the equation. Spend too little time on it, and you risk putting out a product nobody wants, or worse yet, one that’s unsafe. So many companies are quick to rush a product to market just to start seeing revenues that they overlook valuable facets of this period.

The Fuzzy Front End

I’m not even sure where the term Fuzzy Front End came from, but to me it reminds me of when I look at something without my glasses on. Everything’s just a little out of focus (okay, a lot out of focus). In product development, you start with an idea. It can be raw and rough around the edges. In the Fuzzy Front End, you work on that idea. Figure out if it’s viable. Determine if anyone will buy it. You may start with Idea A and end up with Product G by the end, and that’s okay. Allow plenty of time for working through the idea, and don’t be married to it, or you might miss out on something better (a la Twitter).

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Scratching the Right Itch: Understanding Product Development

We’re in a quandary these days at Egg Marketing. We’re trying to figure out why clients insist on seeing instant growth with marketing, but when they don’t, they’re ready to stop marketing. Our typical response up front is that marketing takes time. Social media won’t net you overnight sales. It’s a snowball effect. It’s about building trust and creating conversations. And yet still they do not listen.


You know those companies you never see market their products? The 37Signals of the world? Those companies whose products fill a need, scratch an itch, so well they don’t really need to invest heavily in marketing and advertising? Well yours probably isn’t one of those. In fact, you might be scratching where there is no itch. I’m getting too metaphorical: my point is, if your product isn’t exactly the problem solver for a particular issue, all the marketing in the world might not do any good.

Likewise, if you’re not targeting the right people, you might fail too.

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