Aldea Pharmaceuticals, a biotechnology startup developing an emergency treatment for alcohol poisoning, seemed like an attractive investment to venture capitalist David Coats. But he didn't rely on a hunch—he consulted the computer model he'd built.
Two weeks and a few phone calls later, he cut the company, which is based in Westport, Connecticut, a $1.25 million check. "A decision like that would have normally taken a minimum of three months," says Tim Shannon, a partner with Canaan Partners, the firm that had led Aldea's $7 million fund-raising round.
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