Steering Research from Symptoms Toward Causes
Human biological starting material connected to deeper donor information, biological context and the longitudinal history.
Prepared August 2026
Confidential and forward-looking
This document contains management information and forward-looking assumptions.
Projections are planning estimates, not guarantees. Scientific performance, customer adoption, donor availability, facility timing and financing outcomes remain subject to validation.
Investment Overview
First Choice Bio, Inc. (FCBio) is a Delaware C-corporation building an integrated human biological-supply operation for discovery, translational and preclinical research. The company will supply conventional human samples while developing SMART Samples: biological assets connected to deeper donor information, standardized collection and processing records, repository history and, where available, repeat collections from the same donor.
The central opportunity
Advanced laboratory models are only as interpretable as the biological material introduced into them. FCBio gives researchers a choice: continue using conventional blind or random samples when appropriate, or select better-understood samples when additional biological context can strengthen design and interpretation.
Company: First Choice Bio, Inc.
Market entry: Conventional human samples and related services
Differentiation: SMART Samples and connected donor/asset history
Financing: $7.5 million seed round
The Problem and FCBio’s Response
Much research still begins with samples for which basic information - such as sex, age, basic health status and collection details - may be known, while other biological differences that can affect an experiment remain unknown. Donor shortages can narrow the choices further.
Random selection may be scientifically appropriate; lack of knowledge is a separate issue.
FCBio integrates donor recruitment, qualification, biological characterization, collection, processing, quality control, repository management, fulfillment and repeat-donor follow-up. Researchers define which information matters and whether selection should be random, matched or specific. FCBio’s role is to preserve and make reliable information available.
· Conventional samples remain available for broad research use.
· SMART Samples add deeper donor information, screening, matching and interpretive context.
· Repeat collections can build longitudinal donor histories.
· Repository and donor-recall decisions are informed by observed RFQs, orders and inventory use.
· AI can support matching and pattern recognition, while the connected operating dataset is built through real collections and customer demand.
Products, Customers and Revenue
Initial offerings include whole blood, bone marrow, apheresis material, separated cells and related frozen products for research use. Target customers include biotechnology and pharmaceutical companies, life-science tools and diagnostic developers, contract research organizations, precision-medicine programs and academic or governmental research institutions.
Layered revenue model
Base material + SMART characterization + matching/specificity + special processing and quality testing + freezing/storage/retrieval + reserved inventory + delivery + agreed scientific collaboration.
The company will not assume that all material from each donor will be sold. Small-volume or narrowly matched orders may reduce opportunities to combine orders or maximize donor utilization. Each order must therefore remain profitable on its own, and repository inventory must be created under demand-linked rules.
Why the Operating Architecture Matters
Conventional supply workflow: A sample and basic donor record
FCBio intended architecture: The donor, every collection, derivatives, stored aliquots and
research requirements remain connected
Conventional supply workflow: Characterization added to existing inventory
FCBio intended architecture: Donor qualification and demand can influence what is
collected, retained and matched
Conventional supply workflow: One-time donor relationship
FCBio intended architecture: Repeat collections create longitudinal biological context
Conventional supply workflow: Inventory managed primarily by availability
FCBio intended architecture: RFQs, fulfillment and utilization inform replenishment and
donor recall
Conventional supply workflow: Software matching as a feature
FCBio intended architecture Matching operates on a governed dataset accumulated
through collections and orders
Competitors can expand characterization and acquire similar algorithms. FCBio’s opportunity is to compound its advantage through patents, IP and Trademarks, but above all through donor continuity, integrated operations, quality, customer relationships and a connected history of real biological assets and real demand.
Commercial Evidence and Market Context
Signal: Historical customers
Management-reported amount: 130+
Qualification: Prior distribution and market relationships
Signal: Historical sales
Management-reported amount: $650,000+
Qualification: Completed distribution activity
Signal: Requests for quotation
Management-reported amount: $4.75 million+\
Qualification: Demand signal, not booked revenue
Signal: Acquisition inquiries
Management-reported amount: 12
Qualification: Strategic interest, not a commitment
Market conditions increasingly favor human-relevant research inputs. The FDA’s March 2026 draft guidance for New Approach Methodologies (NAMs) emphasizes context of use, human biological relevance, technical characterization and fit-for-purpose performance. FCBio will not validate customers’ research models; it intends to provide better-characterized, traceable starting material that can support those requirements.
Collection Center 1 and Commercialization
The first San Francisco Bay Area collection center will combine donor operations, collection, instant characterization and laboratory processing, quality control, repository capacity, data systems and fulfillment. It is intended to generate revenue while establishing the reference operating model for further expansion.
1. Re-engage historical customers and convert qualified RFQs.
2. Enter through conventional sample demand and reliable fulfillment.
3. Offer instant SMART characterization and matching when the research question requires it.
4. Measure donor acquisition, order contribution margin, SMART attachment, repository turns and repeat-customer behavior.
5. Expand through frozen products and replicate centers only after Center 1 performance is repeatable.
Financial Plan and Funding
$ millions Year 1 Year 2 Year 3 Year 4 Year 5
Revenue 1.544 6.045 18.300 59.700 119.500
Gross profit 0.852 3.416 10.629 35.727 73.540
EBITDA (2.265) (1.515) 1.648 18.321 46.379
Ending cash 4.631 2.378 1.613 9.803 37.318
FCBio is seeking $7.5 million to fund facility preparation, laboratory equipment, donor recruitment and reimbursement, operational and quality personnel, screening and donor-information systems, repository capacity, AI-supported matching, customer acquisition and operating runway through the center’s commercial ramp.
The reconciled financial model reaches positive EBITDA in Year 3. Year 4 represents a material scale step and must be validated against operating capacity, donor availability, order mix and customer conversion. Projections are conservative management planning assumptions, not guarantees.
Leadership, Governance and Principal Risks
Team Role
Jan (Johannes) Breukers Founder and CEO
Sam Vasilevsky, PhD Founder and COO
Kamran Tahamtanzadeh Founder and Business Development Officer
Jason Aulenbach Founder and CFO
The five-member advisory board adds life-science, business, automation, AI, CMC, portfolio, licensing and M&A experience. The company plans to add laboratory, donor recruitment, quality, data and commercial personnel through the funding round.
Principal risks
· Donor recruitment, qualification and retention may be slower or more expensive than modeled.
· Customers may adopt SMART services more slowly than projected.
· Narrow matching requirements and repository inventory can reduce material utilization.
· Facility qualification, regulatory interpretation and quality systems may delay launch.
· Larger suppliers may implement limited characterization and matching capabilities.
· The revenue ramp may require more time or capital than the base model assumes.
Investment Conclusion
FCBio’s investment case is a combination of an established market and a differentiated operating model. Conventional samples provide a route to current revenue.
SMART Samples, longitudinal donor relationships and demand-linked repository operations will build a more valuable and increasingly useful infrastructure over time.
The immediate objective is straightforward: finance and launch Center 1, demonstrate disciplined donor and laboratory operations, fulfill customer orders profitably and validate whether better-understood biological assets improve customer decision-making enough to support premium services and repeat demand.
Source / basis: First Choice Bio August 2026 investor presentations; reconciled August 2026 financial model; management-provided commercial and team information; FDA March 2026 draft NAM guidance.
