rad biomed incubator heraklion final sept 18
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RAD Biomed IncubatorRAD Biomed IncubatorThe Israeli incubator program started in 1991 to provide a sheltered environment for scientists and entrepreneurs from the former USSR
RBM was established in 1992 as general incubator, refocused in 1998 to biotech
Located in Tel-Aviv
Owned by the RAD group of companies
Six active graduate companies
MaimoniDex RAMaimoniDex RA
InnoScent Ltd
9 Incubator companies
The RAD Biomed PortfolioThe RAD Biomed Portfolio
EDICAMRIOA
TouchMed TissueDetectTissueDetect
Drug-delivery pump Gene therapy Peripheral atherectomy
Improved enzymes Molecular diagnostics Cord-blood harvesting
Endoscopy Epidural-space detection
OccuOccuPharmaPharmaOpthalmic drug-delivery
Our PhilosophyOur PhilosophyRBM is a biotech incubator that serves as a natural interface between the world of Israeli academic research and the global biotech industry
Long term vision: to build viable businesses and to create sustainable benefits to the economy and a significant return to investors and to the entrepreneurs
The goal of the incubation period is to prove the technological concept and its feasibility and to advance it towards commercialization.
To attain our goal we To attain our goal we establish for each project a business model establish for each project a business model &&strong IP position, and demonstratestrong IP position, and demonstrate thatthat it it can attain profitability can attain profitability
in a targeted market segmentin a targeted market segment
The Deal FlowThe Deal FlowProjects are admitted to RBM either as a concept or as a small team with molecule/technology & executive-summary/IP/work-plan etc.
Deal flow is generated in the following manner: Deal flow is generated in the following manner:
Entrepreneurs approach the incubatorEntrepreneurs approach the incubator
Via our working relationship with TTOs Via our working relationship with TTOs
Proactive search for projects in Israeli academia and Proactive search for projects in Israeli academia and hospitalshospitals
Personal contactsPersonal contacts
Rad BioMed Functions as a mini Pre-Seed VC
Test Criteria
• Clinical Need• Team• Market• IP• Technology• Project status
RAD BioMed’sInvestmentCommitteeProactive
search
for projects
Approval
ProductPositioning
Incoming deal- flow
Screening the dealScreening the deal--FlowFlow
Our Nurturing Approach:
Mapping the needs (to reach the long-term goal), Assessing all the
available resources at set-up, Implementing and supporting
NurturingNurturing The Young Projecthe Young Project
While keeping our focus on the startupWhile keeping our focus on the startup’’s long term goals, s long term goals, we build the companywe build the company’’s works work--plan plan && activities stepactivities step--byby--step to position it for the next round of financingstep to position it for the next round of financing
RBM provides the incubator projects :
• Management & legal and financial support
• Business development and clinical consulting
• IP strategy and regulatory & reimbursement planning
• Extensive lab space for R&D
Nurturing The PeopleNurturing The PeopleIn an ideal world, the “unskilled” entrepreneur would step aside and make room for a “seasoned” business-oriented project-leader
In the “real world” we are limited by budget constraints, so we appoint a project manager and then mentor and coach …
Coaching, coaching, coachingCoaching, coaching, coaching:Active interaction with project managers
Creating a “business-oriented” thinking process
Adhering to work-plan
FundingFunding
RBM incubator is owned and funded by theChairman of the RAD Group of Companies
The projects are funded by the Israeli Government and matching-funds areprovided by the owner of RBM
Additional funding may be provided by business angels before or upon entry, and/or during the incubation period
Our companies seek VC or corporate funding upon graduation and at-timesalso during the incubation period
RBM maintains an active role in the fundraising processRBM maintains an active role in the fundraising process
Task Oriented Management TeamTask Oriented Management Team
Idan Tamir, Ph.D.President & CEOBinah Baum, Ph.D. MBA
Director, Business Dev Shoshi Keynan, Ph.D.Project Manager
Drug development specialistsRAD group of
companies
Medical deviceconsultants
project IP expertsClinical & regulatoryexperts
Handling The Maturing CompanyHandling The Maturing Company
Building Value To The Next LevelBuilding Value To The Next Level
√√ Demonstrating proof of concept –critical milestone
√√ Creating a strong IP position with freedom to operate
√√ Initiating regulatory procedures – what does the FDA look for? Initiating discussion with regulatory consultants
√√ Preparing succinct business plan for next investment round
√√ Creating a professional advisory board & appointing a medical director
√√ Initiating alliances with companies e.g. FP7 consortia
√√ Helping to secure follow-up financing / alliances with strategic partners
WeaknessesWeaknessesIs project funding sufficient for required tasks?
will the tight budget allow us to chose the “perfect”manager?
How well do Government financing programs adapt to changing needs?
Distance from global markets
Support & coaching to company management
Responsibility and accountability
Focus on value creation - always market oriented
Work-plan within a limited budget
Achieving technological POC within these constraints
Determination, flexibility & success orientation
StrengthsStrengths
Go Europe:Go Europe:
create alliancescreate alliances
Inclusion of our SMEs in FP7 consortia
Participation of incubator in FP7 consortia
Collaborations betw. our SMEs and clinical-centers
/SMEs in other European bioregions
Incubation of European preIncubation of European pre--seed projects in RBMseed projects in RBM
What do we need to do in order What do we need to do in order ““to do betterto do better”” ??
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