Crowdfunding is a hot idea in small biopharma, but a lot of people don't quite know what to make of it. I've written about some academic examples of it, and I think that's a good use of the idea. People can donate in the expectation that they're helping along a research project, not because they're looking for a big return on their money.
But what about a small biopharma company trying it? John Carroll at FierceBiotech has an example, and he's skeptical. In this environment, especially, with so much money sloshing into the sector, I would also be worried. If your idea can't attract any financing other than what you can round up from people who don't know anything about the field - which is, unfortunately, a good description in this case - then there might be something wrong with it. At the very least, people are telling you that your proposal is premature.
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