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Driving Innovation And Strategic Excellence in the Life Sciences Carlos N Velez, Ph.D. Managing Partner Lacerta Bio Inc. [email protected] +1 845 380 9496

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Page 1: Driving Innovation And Strategic Excellence in the Life Scienceslacertabio.com/wp-content/uploads/2016/06/Lacerta-Bio... · 2016-06-21 · Driving Innovation And Strategic Excellence

DrivingInnovationAndStrategicExcellenceintheLifeSciences

CarlosNVelez,Ph.D.ManagingPartnerLacertaBioInc.

[email protected]+18453809496

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OurPracticeCanBeDividedIntoTwoSegments,IntegratedWhenNecessary

Weruncompletein-licensingandout-licensingprocesses,utilizingasuiteofapproachestomaximizetheprobabilityoflicensingsuccess.

Licensing

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OurPractice

WeconsulttoBD&Lteamsbyprovidingduediligencesupport,valuation,secondopinions,andprocessaudits.

Consulting

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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

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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

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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.

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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

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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

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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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0

5

10

15

20

25

30

35

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

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CombinedForcesToFormAGlobalEngineToDriveProductInnovation,Development,andCommercialization

US-Basedconsultancyspecializinginsupportingbusinessdevelopmentandlicensingthroughnovelandtraditionalmethods.

EU-basedconsultancyfocusedonadvisory,companyformation,andfinancing.

LacertaBio VentacPartners

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LacertaBioandVentacPartnersMergedInNovember, 2014

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TheCombinedLacertaBio/VentacParters Team

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OurConsultantsAreLocatedAroundTheWorld

LundCopenhagen

BaselMadridBoulder Boston

London

Düsseldorf

ShanghaiNewYork

WeWorkWhereYouDo

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SanFranciscoSanDiego

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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

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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

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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

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TrackRecord– AdditionalPastProjects

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*IncludestransactionscompletedpriortojoiningVentacPartners

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DrivingInnovationAndStrategicExcellenceintheLifeSciences

CarlosNVelez,Ph.D.ManagingPartnerLacertaBioInc.

[email protected]

PartnerVentacPartners– NewYork

+18453809496