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Business Viability of a Lifescience Early-Stage Project
- 1. INSTITUTO DE SALUD CARLOS III SPANISH CELL THERAPY NETWORK December 14th, 2012 Business viability of a scientific project Solving the specific challenges of biotech & medtech products in order to attract investors.
- 2. Credentials 10 years PHARMA, BIOTECH & MEDTECH. 2 years VENTURE CAPITAL “EARLY STAGE”. 5 years USA, GERMANY, UK. >30 INNOVATIVE TECHNOLOGIES ANALYZED 3 NEW THERAPIES LAUNCHED GLOBALLY. $300 mn INTERNATIONAL LICENSING AGREEMENTS. €30 mn VENTURE CAPITAL RAISED. Confidential 2
- 3. Index 1. Intro 2. The WRAPUP© methodology of analysis 3. Summary Confidential 3
- 5. Intro BENEFIT RISK TIME Confidential 5
- 6. Intro PRODUCT / TECHNOLOGY TEAM FINANCING EXIT Confidential 6
- 7. 1. The WRAPUP© methodology of analysis
- 8. The WRAPUP© methodology of analysis Relevant Is there a real unmet need for your tech today? Profitable Unique How profitable and cashable is it? Will it stay competitive in the future? What Achievable Protectable What risks & barriers may prevent success? Can it be protected from copyists? Confidential 8
- 9. 1. What Patient Physician What will How will you you sale? sale it? Hospital Payor Clear product / Clear revenue model service definition Confidential 9
- 10. 2. Relevant Patient type/s Market Big enough? • Patient Needs • Doc Customers • Hospital Severe enough? • Payor Current Better enough? competition Confidential 10
- 11. 3. Unique Same technology Product Better enough? Needs S&W Future Time to Early enough? competition market Organization Capable enough? Other S&W technologies Confidential 11
- 12. 4. Protectable Able to be copied Is it Know-how Undisclosed Protect Patentable? Clock stopped Enough Patent Protected License / sell Patent/s Diclosed life? Clock starts ticking “As late as possible, but as soon as necessary…” Confidential 12
- 13. 5. Achievable What have you Risks and What must you proved? barriers prove? Target Validation Route Map Product Profile Confidential 13
- 14. 5. Achievable Risks and barriers Potential buyers EXTERNAL Deal value Deal timing (when) Freedom To Operate What have you Scientific assessment What must you proved? prove? Pre-clinical development Clinical development INTERNAL Regulatory CMC Supply Chain Price, reimbursement, access Market adoption Confidential 14
- 15. 5. Achievable How solid is what you proved? Probability of success? ”Licensable”? What have you What must you proved? TEAM prove? Reasonable timing? Reasonable investment? Risk mitigation? Confidential 15
- 16. 6. Profitable Commercial • Target Product Profile • Environment scenarios • Probabilized Profitable enough? 5-10x Cash flows • For each scenario Early enough? 3-6 yrs Likely enough? Higher than average. • Probabilized nodes Decision tree through the Route map. Confidential 16
- 17. 6. Profitable Example: Decision Tree Valuation was poor: 3x 9 yrs to exit Confidential 17
- 18. Summary
- 19. Summary PRODUCT / TECHNOLOGY TEAM FINANCING EXIT Confidential 19
- 20. Resumen With science, don’t gamble.
- 21. Thanks! www.dynomicsbmt.com Now follow us at: