How a Health Scare Led to a $275M Biotech Company | Backstory
captivating and inspiring than a story of resilience, determination, and triumph against all odds. This is the incredible backstory of Serbi Serna, the founder of a $275 million biotech company called Envision.
A Health Scare and a Dream
Serbi Serna, a brown woman with an ordinary bachelor’s degree, embarked on the challenging journey of starting her own company in the healthcare industry. Despite the lack of prestigious degrees, she was driven by a deep passion for making a difference and a personal experience that fueled her determination.
During her high school years, Serbi experienced a health scare that turned her world upside down. She was suddenly hit with excruciating pain in her side, which led her to the hospital. Initially, doctors suspected appendicitis but later discovered that she had complex ovarian cysts. The uncertainty of whether these cysts were cancerous or not haunted Serbi and her family.
A Vision for Women’s Health
This life-altering experience pushed Serbi to make a promise to herself and her family. She vowed to build a company in women’s health to prevent other families from going through the same ordeal. With an unwavering determination, she pursued a career as an engineer in the medical device industry, gaining valuable experience along the way.
But Serbi couldn’t shake the feeling of dissatisfaction. There was a burning desire within her, an energy she couldn’t contain. She knew she had to do more. At the age of 24, she made a bold decision to dive headfirst into starting her own company, focusing on developing an early detection mechanism for ovarian cancer.
Overcoming Challenges
As with any entrepreneurial journey, Serbi faced numerous challenges. Securing funding was particularly difficult, with rejection after rejection from potential investors. She couldn’t help but wonder if her gender, ethnicity, or lack of higher degrees played a role in the struggle. However, she refused to let these obstacles define her worth or hinder her determination.
Serbi encountered biases and misconceptions about women’s health along the way. Investors dismissed the market potential, referring to women’s health as “bikini medicine.” But amidst these discouragements, she found two women who believed in her vision and decided to invest. This initial seed funding was instrumental in bringing her concept to life.
A Breakthrough and a Life-Changing Offer
With the help of a world-class team, Serbi’s company, Envision, developed a groundbreaking device. Through clinical studies and FDA clearance, they became the first and only company to collect cells from the fallopian tube for evaluating malignant features. Their device had the potential to provide early detection of ovarian cancer and potentially save lives.
Little did Serbi know that her hard work and dedication would catch the attention of larger companies in the industry. Boston Scientific, after reading about Envision’s clinical data, made a stunning offer to acquire the company for a staggering $275 million. The validation and recognition were overwhelming, and Serbi, surrounded by her loved ones, signed the deal, securing the future of her product and leaving an indelible mark on women’s health.
A Life Beyond Success
After the sale of Envision, Serbi found herself at a crossroads, unsure of what her next step should be. But opportunity knocked on her door when she was introduced to Jared Friedman at Y Combinator (YC). Serbi realized that her incredible journey, with all its ups and downs, could now be channeled into helping other founders. She became a partner at YC, where she could share her wisdom, experiences, and expertise to guide and support entrepreneurs in the healthcare and biotech industries.
Serbi’s story is a testament to the power of resilience, perseverance, and self-belief. It demonstrates that success knows no boundaries when passion and determination drive you forward. Her journey serves as an inspiration to aspiring entrepreneurs, encouraging them to chase their dreams, no matter the obstacles they may face.
Frequently Asked Questions
1. How did Serbi Serna overcome the challenges she faced as a brown woman without a higher degree?
Serbi Serna faced rejection and biases throughout her entrepreneurial journey. However, she refused to let these challenges define her worth or hinder her determination. She persevered, believing in her vision and seeking out investors who shared her passion. With unwavering determination, she found two women who believed in her concept and provided the initial seed funding. Serbi’s story teaches us to embrace our strengths, push through biases, and find the right people who recognize our potential.
2. How did Serbi’s personal experience shape her vision for Envision?
Serbi’s experience with a health scare during her high school years ignited a deep desire to prevent other families from going through a similar ordeal. This personal experience motivated her to build a company focusing on women’s health. She knew firsthand the challenges and uncertainties women faced when dealing with health issues, particularly ovarian cysts. Serbi’s vision was rooted in creating an early detection mechanism for ovarian cancer, providing women with quicker access to treatment and avoiding unnecessary interventions.
3. What is Serbi’s role at Y Combinator, and why is she passionate about it?
Serbi Serna serves as a partner at Y Combinator (YC), specifically in the healthcare and biotech sectors. Her role entails supporting and guiding founders in these industries, sharing her expertise and experiences. Serbi is passionate about helping entrepreneurs navigate the challenges of bringing their technologies to market. She finds joy in working with founders, helping them overcome obstacles, and ultimately making a meaningful impact in areas such as agriculture, medicine, and cancer detection.
