How I built a $275 million biotech company from nothing
Y Combinator
11 min, 52 sec
Serena Serna shares her inspiring story from facing health issues to founding and selling a biotech company for $275 million.
Summary
- Serena discusses the challenges of starting a biotech company as a woman of color without advanced degrees.
- She talks about her personal health scare in high school with ovarian cysts, which later motivated her to improve women's healthcare.
- Serena explains the development of her company, Envision Medical, and the process of securing funding despite facing bias and skepticism.
- She highlights the clinical success and eventual acquisition of her company by Boston Scientific.
- Post-acquisition, Serena becomes a YC partner, using her experience to help other healthcare and biotech founders.
Chapter 1
![Serena Serna introduces herself, highlighting the challenges she faced as a non-typical biotech founder.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6NjI3MDksInB1ciI6ImJsb2JfaWQifX0=--5ed5b3ce880831d791ccf705b56e8715d87ffa7b/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/3713_22.jpg)
Serena Serna introduces herself, highlighting the challenges she faced as a non-typical biotech founder.
- Serena is a brown woman without the advanced degrees typically seen in the biotech industry.
- Despite feeling underqualified, she never gave up on her vision.
![Serena Serna introduces herself, highlighting the challenges she faced as a non-typical biotech founder.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6NjI3MDksInB1ciI6ImJsb2JfaWQifX0=--5ed5b3ce880831d791ccf705b56e8715d87ffa7b/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/3713_22.jpg)
Chapter 2
![Serena shares her personal health experiences that motivated her to start her company.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6NjI3MTEsInB1ciI6ImJsb2JfaWQifX0=--bda4f9c39d150b00686718d28fc9be7f3013ba94/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/3713_128.jpg)
Serena shares her personal health experiences that motivated her to start her company.
- She recounts a painful health incident from high school involving ovarian cysts.
- The lack of reliable diagnostic methods for ovarian cysts deeply affected her and her family.
- Inspired by her experiences, she aspired to improve women's healthcare.
![Serena shares her personal health experiences that motivated her to start her company.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6NjI3MTEsInB1ciI6ImJsb2JfaWQifX0=--bda4f9c39d150b00686718d28fc9be7f3013ba94/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/3713_128.jpg)
Chapter 3
![Serena discusses her early career and the founding of Envision Medical.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6NjI3MTMsInB1ciI6ImJsb2JfaWQifX0=--2c8946b3f54797bee033d2f9bdaee635acedf84f/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/3713_237.jpg)
Serena discusses her early career and the founding of Envision Medical.
- Worked as an engineer at Abbott Vascular and a device startup before founding her company at 24.
- Motivated by her high school health scare, she aimed to create an early detection mechanism for ovarian cancer.
- She faced challenges in getting her idea validated by the medical community.
![Serena discusses her early career and the founding of Envision Medical.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6NjI3MTMsInB1ciI6ImJsb2JfaWQifX0=--2c8946b3f54797bee033d2f9bdaee635acedf84f/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/3713_237.jpg)
Chapter 4
![Serena speaks about validating her medical device concept and the difficult process of seeking funding.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6NjI3MTUsInB1ciI6ImJsb2JfaWQifX0=--0fdb15545aa10ae4499677f6f38b11a3e5dd9a79/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/3713_329.jpg)
Serena speaks about validating her medical device concept and the difficult process of seeking funding.
- She consulted gynecologists to validate her concept, starting with her own doctor.
- Serena leveraged her personal network for introductions to industry professionals.
- She faced at least 50 rejections from investors, partly due to biases against her background and the Women's Health market.
![Serena speaks about validating her medical device concept and the difficult process of seeking funding.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6NjI3MTUsInB1ciI6ImJsb2JfaWQifX0=--0fdb15545aa10ae4499677f6f38b11a3e5dd9a79/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/3713_329.jpg)
Chapter 5
![Serena recounts the development of her medical device and its clinical success.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6NjI3MTcsInB1ciI6ImJsb2JfaWQifX0=--ef57e3054fe1d138d8790241084b6bfbf4609633/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/3713_442.jpg)
Serena recounts the development of her medical device and its clinical success.
- After initial funding, she built a world-class team and raised more venture capital.
- The device went through prototyping, clinical studies, and received FDA clearance.
- It became the first device cleared to collect cells from the fallopian tube for cancer evaluation.
![Serena recounts the development of her medical device and its clinical success.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6NjI3MTcsInB1ciI6ImJsb2JfaWQifX0=--ef57e3054fe1d138d8790241084b6bfbf4609633/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/3713_442.jpg)
Chapter 6
![Serena details the acquisition of her company by Boston Scientific.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6NjI3MTksInB1ciI6ImJsb2JfaWQifX0=--06d82802e91e5638dab7809e4eeb5cca9163a546/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/3713_536.jpg)
Serena details the acquisition of her company by Boston Scientific.
- She had no initial interest in selling, but the clinical data attracted several companies.
- Boston Scientific made an offer of $275 million to acquire the company.
- Serena describes the emotional moment of signing the deal.
![Serena details the acquisition of her company by Boston Scientific.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6NjI3MTksInB1ciI6ImJsb2JfaWQifX0=--06d82802e91e5638dab7809e4eeb5cca9163a546/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/3713_536.jpg)
Chapter 7
![Serena explains her transition to becoming a YC partner after selling her company.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6NjI3MjEsInB1ciI6ImJsb2JfaWQifX0=--123431237293f82979935fc29103b2ba7d12a893/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/3713_644.jpg)
Serena explains her transition to becoming a YC partner after selling her company.
- She was introduced to Jared Friedman at YC and invited to speak at an event.
- Relaying her story to other founders, she found fulfillment in helping them succeed.
- Serena looks for founders who are passionate about solving big problems, regardless of their formal qualifications.
![Serena explains her transition to becoming a YC partner after selling her company.](https://www.videogist.co/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsiZGF0YSI6NjI3MjEsInB1ciI6ImJsb2JfaWQifX0=--123431237293f82979935fc29103b2ba7d12a893/eyJfcmFpbHMiOnsiZGF0YSI6eyJmb3JtYXQiOiJqcGciLCJyZXNpemVfdG9fbGltaXQiOls3MjAsbnVsbF19LCJwdXIiOiJ2YXJpYXRpb24ifX0=--c9426325207613fdd890ee7713353fad711030c7/3713_644.jpg)
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