Venture Summit 2014, Greg Lucier

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Venture Summit 2014, Greg Lucier

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  3. 3. Moore’s Law $3B $4K 1999 20132005 Cost to sequence genome CostPerGenome InformationValue Genomic Sequencing: Unparalleled Productivity 3
  4. 4. San Diego is at the Heart of Genomics 4
  5. 5. Health Horizons Program. Institute for the Future. Top Ten Impediments to Better Health & Health Care in the United States. May 2005. Error Rates in Healthcare Higher than Other Industries 5
  6. 6. • The total addressable Genomics 2.0 app market is made up of both existing markets that could adopt new technologies as well as a number of new and emerging markets Genomics 2.0 Potentially a US$23bn TAM 6
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  10. 10. Wrong drug Selected, Find out 6 months later The Cost Of A Wrong Answer Note: metastatic basal cell carcinoma 10
  11. 11. Oncology: Collision Course with Complexity • 500+ compounds on the way • Targeting more than 200 biomarkers •Multiple Dx tests for each marker 11
  12. 12. Cancer characterization has shifted from anatomic to genomic 12
  13. 13. 19th Century Personalized Medicine 13
  14. 14. 20th Century Personalized Medicine 14
  15. 15. + + Changing Medicine Forever Empiric Medicine Evidence Based Medicine Personalized (Sequencing) Medicine Real Personalized Medicine is here … TODAY 15
  16. 16. My Interests in the Evolving Ecosystem  Enabling Technologies  Better Diagnostics & Monitoring  Treatment Delivery Frameworks  Drug Discovery & Development 16
  17. 17. ~$6M Saving Over 4 Years in Compute, Overhead, Networking & Storage costs for each HiSeq X Ten To Analyze the Data Generated by One HiSeq X Ten Takes Over 50 High End Compute Servers… Or Just Accelerator Card1 analyzes a whole human genome in 18 min (A high end server takes 24 hours to do this!) That is because… Which provides… 17
  18. 18. Epic Sciences – Technical Strengths and Applications +CK-/CD45- (EMT cells) Traditional CTC Process Patient Sample Epic Process Epithelial CTCs Epithelial CTCs Apoptotic CTCs Small CTCs • Unbiased approach, no enrichment • See all CTC subtypes • Subtypes confirmed by genomics Recurrence Detection Therapy Monitoring Therapy Selection ScreeningPhase I Phase II Phase III CLINICAL TRIALS Patient Care • Diagnostic assays for observational trials • Diagnostic assays for patient selection in interventional trials • On label, marketed CDx for therapy selection • Novel independent diagnostics for therapy selection • Real-time monitoring for drug resistance “No Cell Left Behind” Application Areas 18
  19. 19. RainTree – Creating Gold Standard Oncology Network 19 GPO / Distribution Data (core analytics) Care Management Regional ACO’s  Orals, injectable, infusion  Pharmacy network  Pharma portal  Outcome analytics  Protocols  Best practices  Risk bearing Multi-Billion Opportunity
  20. 20. Source: NIH Office of the Director, Office of Budget officeofbudget.od.nih.gov NIH Appropriations in Current and Constant Dollars Pivoting to translational research and partnerships to close NIH funding gap • Implement 10-year strategic vision to ensure financial stability • Leverage human biology and drug discovery expertise to accelerate therapeutics discovery • Form clinical partnerships to advance patient-oriented research • Partner with top-tier pharma/ biotech to diversify revenue $0 $5,000,000,000 $10,000,000,000 $15,000,000,000 $20,000,000,000 $25,000,000,000 $30,000,000,000 $35,000,000,000 1995 1998 2001 2004 2007 2010 2013 Constant $ (1995) Current $ 20
  21. 21. Building a Life Sciences Powerhouse 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 • 50 transaction • 5000 patents • $1.3 billion EBITDA $3.96B 21 22% CAGR $680M
  22. 22. A few thoughts on investing • Look for ‘T’ Shaped Leaders • The ‘weather’ is important, but so is the ‘climate’ • Get ahead of big ideas, but have the staying power to capture the value • Have someone look over your shoulder to double- check your thesis • Venture investing is full contact sport – you need to be in the huddle with the management team 22

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