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Bionest Partners Capabilities Summer 2009
 

Bionest Partners Capabilities Summer 2009

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    Bionest Partners Capabilities Summer 2009 Bionest Partners Capabilities Summer 2009 Presentation Transcript

    • Strategic Advice and Beyond Summer 2009 1
    • A unique blend of management consulting and financial advisory services Management Consulting Financial Advisory Services Corporate development Mergers and acquisitions Product strategy/portfolio management In- and out-licensing Commercialization strategy Pipeline and company valuation Implementation support Private placement quot;We combine strategic thinking with extensive real world experience to provide operational solutions which will help you to achieve your business goalsquot; Bionest Partners Leadership Team 2
    • Bionest is exclusively dedicated to life sciences Life sciences only Over 250 clients P H A R M Global reach A Europe (Paris) and USA (New York) 35 experienced consultants Combining healthcare, strategy and banking backgrounds B I O T E C H S Extensive network Industry experts & executives Regulatory experts & healthcare officials I N Key Opinion Leaders V E S T O R S 3
    • Capabilities and track record built around six areas of expertise Rx/Generics/Biosimilars/OTC Vaccines Diagnostics Medical Devices Healthcare Services Animal Health 4
    • Bionest bridges the gap between strategy and finance Management Consulting Financial Advisory Services Product Strategy P7 Competitive positioning Clinical development strategy M&A/Licensing P 17 Market assessment & sales forecast Acquisition advisory Product strategic plans Divestment advisory Portfolio management Corporate Development P 14 Target identification Assistance in negotiations Commercialization Strategy P 10 P10 Strategic scenarios review Opportunity assessment Market Access Resource allocation “Go-it-Alone” versus partnering Spin off/carve out support strategy evaluation Strategic due diligence Valuation/Placement P 19 Blueprint for organizational structure Value drivers identification Implementation Support P 12 Business plan Financial analysis Roll-out plans / Key Performance Fund raising Indicators (KPI) Commercial organization effectiveness Initiation of operations 5
    • 1 Case Studies
    • Management Consulting Case Studies Management Consulting Financial Advisory Services Product Strategy Strategy Competitive positioning Clinical development strategy M&A/Licensing Market assessment & sales forecast Acquisition advisory Product strategic plans Divestment advisory Portfolio management Corporate Development Target identification Assistance in negotiations Commercialization Strategy Strategic scenarios review Opportunity assessment Market Access Resource allocation “Go-it-Alone ” versus partnering Spin off/carve out support strategy evaluation Strategic due diligence Valuation/Placement Blueprint for organizational structure Value drivers identification Implementation Support Business plan Financial analysis Roll -out plans / Key Performance Fund raising Indicators (KPI) Commercial organization effectiveness Initiation of operations 7
    • Product Strategy / Portfolio Management (1/2) Market assessment Assignment overview Bionest impact June 2007 Savient is a US specialty biopharma We helped Savient to Bionest provided all inputs required to build a preliminary model size up the value of the of a stand alone European commercialization strategy for Phase European market Developed an IV product for gout treatment a III Puricase® opportunity and position market without innovation Puricase ® for 40 years Key work streams included the gout market, competitive landscape, physicians’ feedback, sales forecasts… Attitude Awareness and Use study Bionest accompanied Savient on the investor road show Sales forecast model Market assessment Assignment overview Bionest impact August 2006 Javelin is a US company that applies innovative proprietary technologies to develop new drugs and improve formulations Bionest carried out a detailed of existing drugs pricing study which confirmed Developed an innovative Bionest evaluated the best target price for the product to that the new IV diclofenac IV diclofenac for a post operative pain product enable ideal positioning in Europe by analyzing: formulation could command a Attitude Awareness and Payors’ value drivers much higher price against Use Study generic competition Pricing&Reimbursement Optimal and effective price in the G5 study Market size and market share Pan-European pricing strategy Other clients 8
    • Product Strategy / Portfolio Management (2/2) Product strategic plans Assignment overview Bionest impact 8 Product strategic plans for Fully documented situation assessments 2007 - 2008 Resulting key event grids, product SWOT analyses and formulation of key challenges We enabled Bayer Schering Product strategy encompassing scenario planning, Pharma to develop the best Oncology franchise contingency plan, product ambition, One Page Strategy, global strategy for its strategic plan product positioning, targeting strategy & investment oncology franchise over the - 10 cancer indications next 5 years priorities - 8 products Product action plans including “quick wins” and Strategy, operations and organization resulting P&Ls Resource allocation exercise Development of Oncology franchise strategy, including organizational effectiveness Clinical development Assignment overview Bionest impact strategy July 2008 Large US pharmaceutical with significant pipeline but lack of experience in oncology US big pharma For each compound, Bionest: Bionest helped to maximize Developed full scenario-based forecasts taking into value creation through an account market dynamics, trials data and competitive accurate ranking Clinical and commercial landscape of portfolio products strategy assessment Recommended optimal commercialization strategies for targeted patient segmentation, unmet needs, most favorable NPV and strategic fit within the organization Other clients 9
    • Management Consulting Case Studies Management Consulting Financial Advisory Services Product Strategy Competitive positioning Clinical development strategy M&A/Licensing Market assessment & sales forecast Acquisition advisory Product strategic plans Divestment advisory Portfolio management Corporate Development Target identification Assistance in negotiations Commercialization Strategy Strategic scenarios review Opportunity assessment Market Access Resource allocation “Go-it-Alone” versus partnering Spin off/carve out support strategy evaluation Strategic due diligence Valuation/Placement Blueprint for organizational structure Value drivers identification Implementation Support Business plan Financial analysis Roll-out plans / Key Performance Fund raising Indicators (KPI) Commercial organization effectiveness Initiation of operations 10
    • Commercialization Strategy Go-it-alone strategy Assignment overview Bionest impact March 2007 Targanta, acquired by The Medicine Company in January 2009, is a US biopharmaceutical company Bionest provided Targanta with: Bionest constructed Go it alone strategy Strong data for the board to make a go/no go decision an initial organizational evaluation for the launch of oritavancin in Europe The first model of their European organization structure for the product Strategic, operational/practical and tactical launch in Europe recommendations as the basis of a detailed roll-out plan Testing a go-it-alone by country strategy Operational roadmap Assignment overview Bionest impact October 2007 The commercial infrastructure of Medimmune, acquired in 2007 by Astra Zeneca, is limited to the US Built detailed forecast and prioritization models for 32 ex-US Bionest developed countries the ex US worldwide launch Physicians and payors’ perception of the product strategy for the Flumist Flu vaccine vaccine, for Medimmune and Key Opinion Leaders interviewed for influenza Astra Zeneca Ex-US Opportunity assessment 14 markets, EU, Asia, Latin America commercialization Resourcing of ex-US launch through workshop sessions with strategy affiliates of Europe, Asia and Latin America Other clients 11
    • Management Consulting Case Studies Management Consulting Financial Advisory Services Product Strategy Competitive positioning Clinical development strategy M&A/Licensing Market assessment & sales forecast Acquisition advisory Product strategic plans Divestment advisory Portfolio management Corporate Development Target identification Assistance in negotiations Commercialization Strategy Strategic scenarios review Opportunity assessment Market Access Resource allocation “Go-it-Alone” versus partnering Spin off/carve out support strategy evaluation Strategic due diligence Valuation/Placement Blueprint for organizational structure Value drivers identification Implementation Support Business plan Financial analysis Roll-out plans / Key Performance Fund raising Indicators (KPI) Commercial organization effectiveness Initiation of operations 12
    • Implementation Support Commercial organization Assignment overview Bionest impact effectiveness October 2007 Idenix needed to build a European co-promotion infrastructure from scratch for their HBV phase III product We provided Idenix with a Bionest assessed key strategic issues for commercializing a turn-key solution to be Hepatitis B product in Europe ready in time for EMEA HBV treatment Assessed future EU HQ location and designed required filing and launch infrastructure, quantified associated investments Ex-US Developed a detailed implementation road map and supported commercialization company setup (e.g. identified subcontractors) strategy Commercial organization Assignment overview Bionest impact effectiveness 2007 Involved in a co promotion agreement with the big pharma Lundbeck, German biotech Paion gave these key assignments to Bionest helped Paion Bionest: to open discussions with Lundbeck’s team and Desmoteplase’s quot;idealquot; and quot;realisticquot; sales force sizing capture Lundbeck’s vision on Identification of co-promotion organizational models Desmoteplase com- Preparation and facilitation of a joint workshop meeting to mercialization Desmoteplase address Desmoteplase’s sales force organization co-promotion strategy for EU G5 Other clients 13
    • Corporate Development Case Studies Management Consulting Financial Advisory Services Product Strategy Competitive positioning Clinical development strategy M&A/Licensing Market assessment & sales forecast Acquisition advisory Product strategic plans Divestment advisory Portfolio management Corporate Development Target identification Assistance in negotiations Commercialization Strategy Strategic scenarios review Opportunity assessment Market Access Resource allocation “Go-it-Alone” versus partnering Spin off/carve out support strategy evaluation Strategic due diligence Valuation/Placement Blueprint for organizational structure Value drivers identification Implementation Support Business plan Financial analysis Roll-out plans / Key Performance Fund raising Indicators (KPI) Commercial organization effectiveness Initiation of operations 14
    • Corporate Development Opportunity assessment Assignment overview Bionest impact April 2008 In November 2007, Nycomed announced its intention to divest a portfolio of oncology products, encompassing three HDAC inhibitors (Phase I and PC) and several other early compounds In 3 weeks, Bionest was able Oncology The Germany-based 4SC company solicited Bionest to conduct to provide 4SC with a BUY an in-depth assessment of each drug candidate as well as the recommendation for valuation of the portfolio Nycomed’s preclinical oncology Nycomed’ Bionest Partners provided a “buy” recommendation and 4SC portfolio Assessment of submitted a successful bid including a total consideration of product franchise €14m in cash Global strategic review Assignment overview Bionest impact December 2008 Exonhit is a French-American biotech company that develops applications of its proprietary gene profiling technology in the diagnostic/ therapeutic areas A new CEO was appointed in July 2008, whose mission was to lay Rx / Dx out the vision and the business model of the Company for the Bionest developed a crystal next 5 to 10 years clear road map to share with ExonHit asked Bionest Partners to help the Company analyze its the management, the board potential future from the science & technology, commercial and and the shareholders Global strategic financial angles review ExonHit also wanted to assess the impact of new business models on financial market valuation. Other clients 15
    • Corporate Development Strategic due diligence Assignment overview Bionest impact Bionest acted as commercial due diligence provider for the 2008 Apax/Bain Capital consortium Bionest was able to act Bionest answered clients’ needs through desk research, swiftly for this major interviews with clients, competitors, industry associations and transaction, not only government representatives on an international basis assessing the business plan Bid for For a 2-month period, key work streams included: but educating the PE team Determine the attractiveness of each generics/branded about the generic market market place Commercial due diligence Evaluate the competitive position of Merck by country Assess the defensibility of Merck’s position in each market Strategic due diligence Assignment overview Bionest impact 2008 Working closely with 3i, Bionest combined extensive secondary and primary research to provide the most current view of the European animal health industry dynamics and develop a rigorous Bionest contributed Commercial due diligence set of combinations with Phibro’s business from a build-up significantly to the perspective understanding of the for To meet these objectives, Bionest followed a two-step approach: European medicated feed Global review of AH segments attractiveness in Europe, additives market and its especially nutritional feed additives evolution over time Assessment of business and industrial options for Phibro in view of European expansion Other clients 16
    • Financial Advisory Case Studies Management Consulting Financial Advisory Services Product Strategy Competitive positioning Clinical development strategy M&A/Licensing Market assessment & sales forecast Acquisition advisory Product strategic plans Divestment advisory Portfolio management Corporate Development Target identification Assistance in negotiations Commercialization Strategy Strategic scenarios review Opportunity assessment Market Access Resource allocation “Go-it-Alone” versus partnering Spin off/carve out support strategy evaluation Strategic due diligence Valuation/Placement Blueprint for organizational structure Value drivers identification Implementation Support Business plan Financial analysis Roll-out plans / Key Performance Fund raising Indicators (KPI) Commercial organization effectiveness Initiation of operations 17
    • Mergers & Acquisitions / Licensing M&A Assignment overview Bionest impact August 2007 The French health authorities decided to stop reimbursing venotonic agents as of 1 January 2008 French pharmaceutical company Ipsen did not wish to enter the Bionest was able to rapidly OTC market and decided to divest Ginkor Fort to a company secure a transforming deal Sold Ginkor Fort to offering a better fit with an “out-of-the-box” out- of- the- box” On 23 August 2007, Ipsen announced the out-licensing of Ginkor buyer Fort French distribution rights to Groupe GTF, a specialist in the management of mature products via its subsidiary Tonipharm Exclusive Advisor Licensing Assignment overview Bionest impact February 2008 EUSA Pharma is a transatlantic specialty pharmaceutical company focused on in-licensing, developing and marketing late-stage oncology, pain control and critical care products As part of the company’s 2007 acquisition of France-based OPi, Bionest supported EUSA EUSA Pharma acquired OP-R003, the first fully human anti- Pharma in the out-licensing of out- Out-licensed OP-R003 Full Rights to interleukin-6 (IL-6) antibody developed for oncology and a preclinical anti IL-6 to GSK IL- inflammatory diseases, at a preclinical stage of development for $44million In February 2008, EUSA Pharma announced the global and exclusive out-licensing of OP-R003 to GSK for a consideration of up Sole Advisor to $44m (upfront fee, development milestones plus royalties on future sales) Other clients 18
    • Financial Advisory Case Studies Management Consulting Financial Advisory Services Product Strategy Competitive positioning Clinical development strategy M&A/Licensing Market assessment & sales forecast Acquisition advisory Product strategic plans Divestment advisory Portfolio management Corporate Development Target identification Assistance in negotiations Commercialization Strategy Strategic scenarios review Opportunity assessment Market Access Resource allocation “Go-it-Alone” versus partnering Spin off/carve out support strategy evaluation Strategic due diligence Valuation/Placement Blueprint for organizational structure Value drivers identification Implementation Support Business plan Financial analysis Roll-out plans / Key Performance Fund raising Indicators (KPI) Commercial organization effectiveness Initiation of operations 19
    • Valuation / Placement Valuation Assignment overview Bionest impact December 2007 Mutabilis is a France-based biopharmaceutical company specialized in the anti-infectious field In two weeks, Bionest In view of a forthcoming fundraising round, Mutabilis mandated implemented standard as Bionest to conduct an independent valuation of the company well as creative and easy- easy- As decided together with management, Bionest approached the Independent to-read results to perform to- corporate valuation valuation of Mutabilis solely based on a benchmark approach (no the company valuation DCF analysis was performed on the Mutabilis products and technology platforms) Exclusive Advisor By using five benchmark-based valuation methods, Bionest was able to derive a realistic valuation range Placement Assignment overview Bionest impact December 2006 Genfit is a French biopharmaceutical company focused on the treatment of cardiometabolic disease Oddo Corporate Finance and Bionest Partners acted as co- Bionest actively contributed advisors to Genfit to the closing of a €15m Raised €15m Prior to the IPO, the company successfully completed a private Listed on Alternext placement by delivering a placement of €15 million amongst several qualified investors as simple yet attractive well as historical shareholders equity story Bionest produced an in-depth analyst report, positioning Genfit Co-Advisors as a highly differentiated player in the biotechnology field Other clients 20
    • 2 Selected Publications
    • Major publications by Bionest Partners 2009 2008 2008 2008 2008 2008 2008 2008 2007 2007 22
    • 3 Partners and Managers Biographies
    • Management team - Partners Claude Allary – Managing Partner , MBA, CEFA Before co-founding Bionest in 2003, Claude was a ISO HealthCare Consulting VP in Paris (1998-2002), responsible for developing the European healthcare and biotechnology consulting services and Senior consultant specialized in Healthcare for Arthur D. Little (1991-1998) He led over 200 projects in R&D, Marketing and Sales, Medical Affairs, and Business Development, in Europe and North America, for Big Pharma and growing biopharmaceutical firms. Prior to consulting, Claude held a number of Corporate and Operational Finance / Marketing positions for 14 years with Glaxo PLC International, Rhône-Poulenc Santé International and Parke-Davis France. Claude graduated from ESSEC and is a member of SFAF (Société Française des Analystes Financiers) Frédéric Desdouits – Managing Partner, PhD, MSc., CEFA Before joining Bionest as a Managing Partner, Frédéric was head of Pharma Equity Research and a partner at Exane BNP Paribas, Paris Previously head of a research team at GlaxoWellcome (Les Ulis, France) - research and preclinical development in cardiovascular diseases; Scientific Consultant for Hoechst (Sommerville, USA) Advisor for the R&D team in neurodegenerative disorders (i.e. Alzheimer’s) Guest Investigator at Rockefeller University (New York, USA) conducting research on biochemical and cellular aspects of Alzheimer’s disease in Paul Greengard’s laboratory (Nobel Prize for Medicine, 2000) Alain J. Gilbert – Managing Partner Co-founder of Bionest in 2003 Previously European Founding President of Biogen Inc, (BGEN) where he was responsible for the launch of Avonex® Held several positions at senior management level such as European founder of IDEXX Labs Inc, President of Medtronic Europe Started his career in sales and marketing at Abbott’s Diagnostic Division and remained there for 17 years At Bionest, Alain is mostly involved in Biopharmaceutical, Animal Health, Product Launch, Private Equity and very focused on the USA 24
    • Management team - Managers Lionel Delaporte – Managing Director Before Bionest, gained 10 years of management experience in strategic and organizational consulting dedicated to the Healthcare Industry Before entering consultancy, held several key operational positions at IMS Health Consulting expertise developed around strategic, operational and organizational issues Catherine Pichereau – Manager, MSc. Former London-based investment banker with Robertson Stephens and Bank of America Securities Before joining Bionest in 2004, spent over eight years specializing in US and European healthcare (Biotech, Spec Pharma, Pharma, Med Tech) Mandates mainly covered M&A (both buy-sides and sell-sides) and Private Placements Thomas Martinelli – Manager Over 5 years of Consulting experience at Bionest Partners where he has been involved and/or managed over 50 projects Worked on a large range of projects: Strategic positioning, business planning, strategic due diligences Gained experience at Genopole (Evry, France), French Trade Commission (Toronto, Canada) Obtained a Master’s in Life Sciences and Management from ISTM (Paris) 25
    • 19, rue du Général Foy 75008 Paris France Tel: +33 1 58 05 14 00 Fax: +33 1 58 05 14 09 Tower 49, 12th floor 12 East 49th Street New York, NY 10017 USA Tel: +1 646 386 2900 Fax: +1 212 832 3227 info@bionest.com www.bionest.com 26