RelevaBio is a startup evaluation and commercialization project developed as part of an the Entrepreneurship in Healthcare and Life Science course at Chicago Booth taught by serial entrepreneur Brian Coe.

The company evaluation deck can be found here, base and upside case financial models here.

December 2025

RelevaBio

Neuropathic Pain Cell Therapy Spin-Out Conceptualization and Evaluation

Entrepreneurship in Healthcare & Life Science – Final Project

Overview

RelevaBio is a university spin-out concept based on bone marrow stromal cell (BMSC) therapy for chronic neuropathic pain, with initial focus on chemotherapy-induced peripheral neuropathy (CIPN). This project evaluates the translational viability of the technology across science, regulation, and economics. The underlying technology evaluated for commercialization was developed by Ru-Rong Ji at Duke University.

Core Question

Whether a cell therapy approach can deliver durable neuropathic pain relief while meeting regulatory, manufacturing, and payer constraints.

Scope of Work

  • Translation of academic pain biology into a therapeutic development thesis

  • Indication prioritization across multiple neuropathies

  • Comparison of autologous, donor-based, and allogeneic development pathways

  • Regulatory strategy for intrathecal cell therapies

  • Construction of base-case and upside DCF and rNPV financial models

Project Insights

  • Strong preclinical rationale with meaningful unmet clinical need

  • Significant sensitivity to adoption friction, delivery complexity, and payer dynamics

  • Autologous approaches de-risk early approval but limit scalability

  • Allogeneic approaches offer upside with higher capital and execution risk

Why This Work Matters

This project reflects how early-stage biotech opportunities must be evaluated with scientific rigor and commercial realism, rather than narrative-driven optimism.

My Role

  • Led commercialization strategy and indication prioritization

  • Developed market builds and estimated market sizing

  • Built financial models and risk-adjusted valuation cases

  • Co-authored final investment and development recommendations

RelevaBio logo with the slogan 'Biology that brings lasting relief' on a white background.
Slide with mission statement to deliver relief from chronic neuropathic pain through cell therapies, and vision statement for treating pain through restoration.
An infographic on how neuropathy affects the body, showing symptoms and common causes, including chemotherapy, diabetes, spinal injuries, HIV, shingles, and surgery. It also explains nerve inflammation and pain signals.
Diagram explaining Chemotherapy Induced Peripheral Neuropathy (CIPN) origins, illustrating nerve fiber damage, nerve signal transmission, and effects of chemotherapeutic agents like platinum-based drugs and taxanes.
Slide titled 'CIPN: the numbers and the shortcomings of current drugs', showing data on the frequency of CIPN in adult cancer patients receiving chemotherapy, common neuropathy drugs, and their side effects, with a table comparing drugs' effectivenes
Infographic explaining intrathecal BMSC therapy for pain relief, showing bone marrow stromal cells, injection process, and nerve pain relief mechanisms.
Graphs showing the effects of BMSCs on touch and heat sensitivity after nerve injury, with bar charts comparing different groups, including saline and BMSCs treatments, and a legend for sensory responses.
A scientific research slide titled 'BMSCs target DRGs to secrete anti-inflammatory factors' displaying various graphs and data related to BMSCs' effects on DRGs, including flow cytometry images, bar charts measuring CXCL12/CXCL13 levels, and results
Slide titled 'Preclinical evidence supports lasting symptom relief in a model of chemotherapy-induced peripheral neuropathy (CIPN)' showing a timeline of preclinical testing, a bar graph comparing different treatments over time, and references at the
Slide titled 'Pre-clinical evidence and clinical translation' with two sections. The left section says 'Completed pre-clinical data' and lists four points about efficacy, validation, imaging, and safety. The right section says 'Aligned clinical endpo
Table showing novel CIPN therapies targeting single pathways, including product names, companies, phases, classes, mechanisms, and routes of administration.
A timeline infographic showing indication prioritization from 2026 to 2045, categorized by therapeutic, scientific, and commercial phases, with color codes for preclinical, Phase 1, Phase 2, Phase 3, regulatory, and commercial stages.
Market opportunity data for TAM, SAM, and SOM with patient numbers and market values for each category.
Diagram illustrating a business model with two strategic pathways: Autologous Model focusing on patients' own cells, and Allogeneic Model involving donor cells. Each pathway includes target market, revenue model, operational model, and key advantages
Diagram of the regulatory pathway showing stages from preclinical to phase 3 clinical trials, including FDA approval and post-market surveillance, with color-coded flowchart illustrating processes and timelines.
Slide with headlines and quotes about clinical and regulatory experts' view on first-in-class therapy, highlighting inflammation and allogeneic model, with names of doctors and companies involved.
A table comparing reasons why insurance companies switch to a different company, including factors like cost, pain management, therapy durability, and the need for additional interventions.
Slide titled 'Go-to-market strategy' with three phases of clinical development outlined, details about sales model, direct sales team, and hub services, including key points on market coverage and operational focus.
Partnerships slide listing strategic and academic research partnerships with tiers for biotech/pharma, cell therapy, infrastructure, and government/non-profit collaborations.
Slide showing team members and their roles: Chris Schweitzer (CEO, Co-Founder), JoAnn Tinker (CSO, Co-Founder), Swetha Puranam (CFO, Co-Founder), Vishnu Dharmaraj (CTO), Aamish Rao (CRO). Inventors include Duke. Team experience logos include Harvard,
Roadmap outline titled 'Primary De-risking Roadmap until Phase 1' with tasks scheduled over months 1-20, including company formation, validation studies, fundraising, IND filing, and phase 2 execution.
A slide from a presentation titled 'Challenging business case with upside potential' showing a comparison of base case and upside case for a healthcare scenario, including key assumptions, indication priority, and key areas for additional validation.
Slide titled 'Final thoughts' with sections for Science and Business. Science mentions robust pre-clinical data, validated mechanisms, broad anti-inflammatory relief, impact on long-acting therapy, and quality control of cell-banked donor cells. Busi
Abstract image with radial lines emanating from a central point against a teal background.