I have been in contact through exchanging emails with a person named Harald Oberlaender in the last few days who had started the Organization Biomedical Growth Research Initiative. On a previous post, I had stated the organization was most likely a scam since it had an address which was a PO Box in Israel while Harald was from Germany. From the very first page on the website here the person was asking for a donation for the project HERE. Apparently this project has been going on for 9 years now, 5 years since he posted on the Make Me Taller boards and he still hasn’t been able to get the funding of around say 300,000 to begin the first part of animal testing.
So far I have decided to retract that statement of the organization being a scam and wait to see if Harald will sent me the idea proposals so I can see that the initiative has a real intent. I have signed a NDA and will not go into the specifics but will only state whether the ideas the researchers created are even viable. I do have a degree very close to Biomedical Engineering and the Chemical Sciences. In the internet space, one has to have a very good Bullshit Radar.
From a financial and investment point of view, I understand the challenges he faces. I guess there was a few interested investors but no one was willing to put their money where their mouth was. Speaking from experience from what I know about VCs (Venture Capitalist) and Angel Investors, it really is VERY difficult to get money from them. Often before people are willing to put money in, they want both 1. Some proof of concept through a physical product and 2. Evidence that other people have invested.
Since the project is only on paper and has no actual physical manifestation, investors are unsure if the idea even works. Plus, there has been not one person who has given money yet, so clearly no one is going to be the first to step up. Usually the first investor who puts their hand in the pot is the one who loses. If one has ever worked for any length of time in the financial sector, say investment consultant, they would know the horrible numbers that biotechnology companies have. Very few ever survive long enough to get their product approved and out to market. Most run out of money because they did not realize how long of a “runway” they need for the venture.
So, I am sitting here waiting for Harald’s reply email with the papers so I can look over them.