driving innovation and strategic excellence in the life...
TRANSCRIPT
DrivingInnovationAndStrategicExcellenceintheLifeSciences
CarlosNVelez,Ph.D.ManagingPartnerLacertaBioInc.
[email protected]+18453809496
OurPracticeCanBeDividedIntoTwoSegments,IntegratedWhenNecessary
Weruncompletein-licensingandout-licensingprocesses,utilizingasuiteofapproachestomaximizetheprobabilityoflicensingsuccess.
Licensing
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OurPractice
WeconsulttoBD&Lteamsbyprovidingduediligencesupport,valuation,secondopinions,andprocessaudits.
Consulting
WeCanIncreasethePaceofBDThroughaCompletelyOutsourcedApproach
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Executives WantFasterBDWithoutMajorIncreases inExpenses. WeProvideThisSolution.
Situation
• Managementneedstoefficiently increasein- andout-licensingcapabilitiesanddealflow
• AmplesupplyofexperiencedBDprofessionalsavailable
• Demandforqualityassetswithattractivecommercialpotentialandaclearly-definedriskprofilehasneverbeengreater
Challenges
• InvestorsdemandfasterBD&L,distractingmanagementfromkeyoperationaltasks
• HiringBDtalentisexpensive,risky,andtime-consuming
• Needtoemphasizecommercialbenefitsandriskstoprospectivepartners
OurSolution
• WeprovidetheBDservicesneeded,enablingmanagementtofocusonotherareasofthebusiness
• OutsourcedBDledbyindependent,seasonedprofessionals
• Materialsandprocessesemphasizecommercialbenefitstoprospectivepartner,unclutteredbytechnicaldetails
OurProcess
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Whether In- orOut-Licensing, WeUtilizeMultiple Channels ForMaximizing Communication
• PassiveMarketing– IndividualpagesonLacertaBio.comwithformtosubmitcontactdetailsmarketedviaLinkedInandotherdigitalchannels
• Databases – Pastconferences,GlobalData,SalesForce.com…
• ActiveOutreach– Callstocompanieswithexpressedinterestintherapeuticareaorasset,plusnewsletterwith3000+recipients
• Conferences – RepresenationatBiotechShowcase,BIO,andBIOEuropeFallincludedinfee
• Client/LacertaBioIdeas– PriorcontactsandrelationshipsandVCs
DrugDeliveryLicensingPresentsSpecialChallenges
Situation
• Drugdeliverytechnologycompaniesfrequentlyhavealargeportfolioofprojects
• Rangefromideastofullclinicalprograms
• Productlicenseorapprovaloftennecessarytovalidateunderlyingtechnology
Challenges
• Difficulttoextractmeaningfulbenefitsorperformancefromolddrugs
• BigPharmacompaniesusuallyeschewnon-NCEproductcandidates
• Reimbursement canbeatremendouschallengewithoutdemonstratedhead-to-headclinicalbenefits
OurSolution
• Prioritizationbasedonlocalcompetitiveenvironments&superioritytogenerics
• Seekpartnersoutside“BigPharma”landscape, suchasAsiaandLatAm
• Focus onclinicalbenefits,nottechnicalperformance
OurExperience atPenwestRemains QuiteRelevant
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OurConsultingExperience CanBeIntegratedWithAnyIn- orOut-LicensingProcess
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WeFocusOnWhatMattersMostToSeniorManagement AndTheir Investors
• ProductDevelopment• IntellectualProperty• MarketOpportunityAssessments
• ProductIn- andOut-Licensing• PresenceinChina• Duediligencesupportforinvestors
• InterimandFullTimeManagement• TurnAroundSituations• TemporaryManagementSupport
Weadviseonproductdevelopment andcommercialopportunities.
Wesource andassessnoveltechnologies, orfindpartners forourclients’ innovations.
Weexecute companyturnarounds,orprovideinterimmanagementservices.
Consulting:Asset&PortfolioAnalysesHelpFocusBDEfforts
OurApproachHelpsFocusOut-Licensing EffortsOnAssets WithGreatest ChanceofSuccess
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AssetAnalysis• Indications•Datainhand•CommercialOpportunity•Developmentplan• IP•Competition
PartnerPerspective•Searchforpotentialpartners• Examinetheirrequirements•Assessgapsintheirpipelineorrevenueforecasts
Decision•YES- Assetislicensableandseveralpotentialpartnersidentified
•NO- Noobviousmarketforasset;deprioritize
•MAYBE- Assethaspotential,butgapsexist,i.e.,datagaps&furtheranalysis
Deliverable isareportwhich:• Prioritizesassetstofocusout-licensingefforts• Identifiesprospectivepartnerstotarget• Providesinformationtohelpcustomizemessagetotargetcompany
CaseStudy:License-AbilityandPrioritizationWeHelpFocusLicensing EffortsToMaximize Chances ForATransaction
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Situation
• Asiangovernmentresearchinstitutewith12drugdiscoveryprograms
• Eachwithalibraryofnoveldrugcandidatesandinitialpreclinicaldata
• Instituteinitiatedout-licensingefforttofindcorporatepartners
Challenges
• Onlyonepersonresponsibleforout-licensing12programs
• SomeNCEswereagainstestablishedtargets,somewithonmarketproducts
• Lackofcleardetailedcommunicationinpresentationmaterials
OurSolution
• Were-prioritized andfocusedeffortson6ofthe12programs
• Repositionedassetstogeographiesoutsideestablishedmarkets
• Workedtoreviseallnon-confidentialandconfidentialdatapackages
BDAudits:WhatHappensWhenBDIsNotSuccessful?
CommercialAssessments – WhatCanGoWrong?• ExaggerationsorincorrectassumptionscanquicklyleadtoBDfailure• Overestimationofreimbursementenvironmentanotherproblem•Wecanidentifyareasthatrequirerevisionofexistingdata
OutreachProcess• Areyouattendingtherightconferences?• Areyoutalkingtotherightpeople?• Areyourmaterialscustomizedforyouraudiences?
BDPersonnel&SkillSet• Doyouneedleadgeneratorswhenyouonlyhaveclosers?• Isthereamismatchbetweenyoursalesfunnelandyourorganization?• Aretherightpeoplewiththerightskillsinplace?
WeCanAuditExisting Efforts,ProvidingReal-World AdviceWhichMayLeadToSuperiorResults
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ExamplesofPast&CurrentConsultingClientsProjects InvolvedLicensing, MarketResearch, DueDiligence, &OtherIssues
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DealMakingInAnimalHealth:APositiveTrend
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Market IsGrowingAndInnovative,Creating PerfectConditions ForNewAssets AndLicensing
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2003 2005 2007 2009 2011 2013 2015
Anim
alHealth
Tran
sactions
Source:GlobalData
• Animal Health companies couldprovideanalternative tohumanpharmalicensing
• Animal Health companies areincreasingly innovative,seekingnoveltherapeutics forrapiddevelopment inanimal healthindications
• Leading companies includeMerckAnimal Health, Aratana,ELANCO,Sanofi,andothers(bothinUSandAbroad)
• Upfront&Milestone paymentstendtobelower,butpathtocommercialization is faster
CombinedForcesToFormAGlobalEngineToDriveProductInnovation,Development,andCommercialization
US-Basedconsultancyspecializinginsupportingbusinessdevelopmentandlicensingthroughnovelandtraditionalmethods.
EU-basedconsultancyfocusedonadvisory,companyformation,andfinancing.
LacertaBio VentacPartners
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LacertaBioandVentacPartnersMergedInNovember, 2014
TheCombinedLacertaBio/VentacParters Team
OurConsultantsAreLocatedAroundTheWorld
LundCopenhagen
BaselMadridBoulder Boston
London
Düsseldorf
ShanghaiNewYork
WeWorkWhereYouDo
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SanFranciscoSanDiego
SelectedBiographiesOfOurVentacPartners
• MikaelOerum– Copenhagen• Founder,VentacPartners• CurrentCEO,Avexxin• BoardChair,HUNTBiosciences,others
• JonathanMyers– Shanghai• FormerBD,PainTx,Onyx,Roche• Numeroustransactionsworldwide• MBA,RotterdamSOM
•MartinAustin– Basel•FormerHeadofBD,Roche•FormerPrincipal,PaulCapital•AuthorofmultipleBDtexts&courses
• NeilThomas- Madrid• FormerBD,Genetrix• OverseesIP&licensingforVentac• AdjunctProf.,IEBS,Madrid
• KostasAlevizopoulos– Basel• CSO&CEOofseveralcompanies• ImplementsPreclinicaldevelopment• Ph.D.,MolecularBiology,Lausanne
•CarlosN.Velez– NewYork•Founder,LacertaBioBD&L•FormerBD,PenwestPharmaceuticals•Ph.D.,Univ.ofNC;MBA,RIT
WeHaveTheExperience ToConsult And/OrManage Companies InTheLifeSciences
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Appendix
TrackRecord– OngoingandM&A/DueDiligence
• China:Businessdevelopment/licensingforChinabaseddrugdevelopmentclient.• China:Japanesedrugdevelopmentclient– termsheetfromChinesedrug
developmentcompany.• China:HongKongbaseddrugdevelopmentportfoliocompany– currentlyin
negotiationwithShanghaibasedpreclinicalCROregardingrisk-sharingcollaboration• IN-Licensing:Scoutingforlate-stagehospitalassetsforIsraelicompany
– Status:Post-CDA discussions addataroom reviewwith threecompanies sofar
• Out-licensingtwonovel,patentedNSAIDproducts– Status:Over200companies contacted; multiple CDAssigned;dataroom established
• China:FundraisingforDx,CROandUSbasedMedicalDeviceClient• Duediligencesupportforprivateequityacquisitionofalegacybrand(completed)• GenetrixSLsellsgroupcompanyImbiosisSLtoR-BiopharmAG• BioXellRaises€17minSecondRoundofVCFinancing• BioXellRaises€23minitsThirdRoundofPrivateFinancing• BioXellRaisesAdditional€10.5minPrivateFinancing• Cellerix(nowTiGenixNV)Raises€27.2minaSeriesBFinancingRound• Cellerix(nowTiGenixNV)Raises€27minaSeriesCFinancingRound
OurPartnersAreLeading AVarietyofBD&LandConsulting Projects
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Ongoing
M&A&Due
Diligence
TrackRecord– AdditionalPastProjects
• Cross-licensedealwithChugaiPharmaceuticalandGen-ProbeonnovelDNA/RNAtechnology
• Out-licensingofsemi-exclusiveworldwiderightstoproduceandselltheDNA/RNAtechnologyforresearchuseonlytoProligoinUSA
• Out-licensingtoTakaraforuseofDNA/RNAtechnologyinPCR• Out-licensingofanovelvectorsystemtoSigmaAldrich• Out-licensingofworldwideexclusiverightstoanoveltherapeuticcompoundforusein
respiratorydiseasestoAlgipharma• BioXellEntersLicenseAgreementwithMerck&Co.,Inc.forTREM-1andTREM
Platform• CellerixlicensesCx401celltherapyinN.AmericatoAxcanPharma,Inc.• X-PolBiotechlicenses“Qualiphi”PolymeraselicensedtoQIAGEN
• PartoftheVentacPartners’businessmodelistoformnewcompaniesaroundnoveltechnologies.ExclusiverightstovarioustechnologiesanddrugcandidateshavebeenlicensedintoportfoliocompaniesfromEuropean,NorthAmerica,andChineseinstitutionsanduniversitiesovertheyears.FormoreinformationonthecurrentVentacpartnersportfolio,pleasevisittheportfoliosectionofthewebsite:www.ventac-partners.com.
OurPartnersAreLeading AVarietyofBD&LandConsulting Projects
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Out-Licensing
PortfolioDeals
TrackRecord– AdditionalPastProjects
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*IncludestransactionscompletedpriortojoiningVentacPartners
DrivingInnovationAndStrategicExcellenceintheLifeSciences
CarlosNVelez,Ph.D.ManagingPartnerLacertaBioInc.
PartnerVentacPartners– NewYork
+18453809496