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UCSF Life Sciences: Week 7 Therapeutics: Resources, Activities, Costs

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  • 1. Resources,%AcEviEes,%and%Costs% Lean%Launchpad:%TherapeuEcs% Value Propositions % Lean Launchpad: Digital Health UCSF%Entrepreneurship%Center% UCSF Entrepreneurship Center November%12,%2013% October 1, 2013 % Karl%Handelsman% Abhas Gupta, MD Codon%Capital%% Mohr Davidow Ventures @abhasguptamd Karl@CodonCapital.com% Weekly%Office%Hours:%4:30<5:30%before%class%
  • 2. Resources,%AcEviEes,%and%Costs% This% Week% Value Propositions Lean Launchpad: Digital Health This% Week% UCSF Entrepreneurship Center October 1, 2013 Are%you%really%cheaper,% %beQer,%faster?% Abhas Gupta, MD How$does$your$approach$build$value$be3er$than$everyone$else?! Mohr Davidow Ventures @abhasguptamd
  • 3. Value Propositions Lean Launchpad: Digital Health Biotech%Features% UCSF Entrepreneurship Center October 1, 2013 RESOURCES,(ACTIVITIES,(COSTS( Abhas Gupta, MD Mohr Davidow Ventures @abhasguptamd
  • 4. Biotech%Value=%technology,%talent,%transacEons% •  Finance% –  Equity%Raise,%Non<diluEve,%Industry%CollaboraEon% Value Propositions •  Physical% Lean Launchpad: Digital Health –  Core%team%coordinates%best%worldwide%resources% UCSF Entrepreneurship Center October 1, 2013 •  Intellectual%Property% –  Key%value%is%IP,%but%only%key%IP%creates%value% •  Talent% Abhas Gupta, MD Mohr Davidow Ventures –  Match%experEse%to%problem,%relevant%experience% @abhasguptamd
  • 5. Resources:%TherapeuEc%Points% •  Physical% –  Facility%creates%no%value,%acEviEes%via%true%partners%creates%data%to% drive%value% Value Propositions –  Capital%intensity%is%related%to%how%much%risk%needs%to%be%assumed% Major%players%cu^ng,%they%do%not%want%your%overhead% prior%to%creaEng%value% Lean Launchpad: Digital Health •  pre<clinical%data%vs.%a%phase%III%trial% UCSF Entrepreneurship Center It%is%more%interesEng%for%an%entrepreneur%if%the%risk%reward%is% October 1, 2013 high%early%where%an%innovaEve%insights%can%dominate% •  Financial%Resources% –  Understand%total%costs%and%potenEal%collaborators% Abhas Gupta, MD –  “TransformaEonal%TransacEon”% Mohr Davidow Ventures @abhasguptamd
  • 6. TransacEons%not%IPOs%built%this%city!% Value Propositions Lean Launchpad: Digital Health UCSF Entrepreneurship Center October 1, 2013 Abhas Gupta, MD Mohr Davidow Ventures @abhasguptamd
  • 7. Corporate%Partnerships% •  OperaEng%capital% •  Technology%or%resources%from%the%partner% Value Propositions –  FormulaEon% Lean Launchpad: Digital Health –  High%throughput%screening% UCSF Entrepreneurship Center October 1, 2013 •  More%shots%on%goals% –  There%have%been%collaboraEons%where%the%future% upside%is%shared%even%if%the%winning%asset% Abhas Gupta, MD originates%in%the%larger%company% Mohr Davidow Ventures @abhasguptamd
  • 8. Culture%vs.%Talent% •  Good%culture%aQracts%talent% •  Good%culture%aligns%talent%to%operaEonal%plan% Value Propositions •  Good%culture%allows%talent%the%freedom%to% Lean Launchpad: Digital Health improve,%adapt,%overcome,%re<invent% UCSF Entrepreneurship Center October 1, 2013 •  Good%culture%embodies%focus,%drive,%talent% •  Good%culture%values%performance% Abhas Gupta, MD •  Good%culture%improves%talent% Mohr Davidow Ventures @abhasguptamd
  • 9. Intellectual%Property% •  Valuable%IP%protects%approaches%to%improve%a% paEent%outcome% Value Propositions •  There%are%more%novel%chemical%structures/ Lean Launchpad: Digital Health proteins%possible%than%atoms%in%the%universe% UCSF Entrepreneurship Center October 1, 2013 •  There%are%very%few%early%stage%assets%with% compelling%quality%data%demonstraEng%disease% modifying%potenEal% Abhas Gupta, MD Mohr Davidow Ventures @abhasguptamd
  • 10. Cost%Structure:%Business%Case% •  Need%Emeline% –  Cost%to%produce%data%as%program%progresses% Value Propositions –  Metrics%match%your%MVP% Lean Launchpad: Digital Health –  Your%advantage%is%the%ability%to%bring%together% UCSF Entrepreneurship Center resources%and%insight%into%an%operaEonal%plan% October 1, 2013 •  Ability%to%drive%toward%value% •  Prototype%generaEon%and%tesEng%avoids%obstacles% •  Product%centric%culture%driving%toward%IND%candidate% Abhas Gupta, MD Mohr Davidow Ventures @abhasguptamd
  • 11. Can%you%show?% •  Pre<clinical%models% –  Disease%modifying%mechanism%of%acEon% –  Benchmark%against%compeEng%programs% Value Propositions •  You%are%compeEng%against%everything%including%generics%and%pre< Lean Launchpad: Digital clinical%programs% Health –  Generate%and%evaluate%proto<types% UCSF Entrepreneurship Center %% •  The%goal%is%to%produce%the%highest%quality%asset,%extreme%insight%is% October 1, 2013 needed%to%know%when%to%invest%more%to%“keep%going”% •  Metrics%need%to%be%understood%from%day%one%and%constantly% reviewed.%%Your%experEse%must%be%the%best%in%the%world.% •  There%is%not%“reality%distorEon%field”%without%data%to%back%it%up% Abhas Gupta, MD Mohr Davidow Ventures @abhasguptamd What%does%it%cost?%Who%cares%the%most?%What%will%they%pay?%
  • 12. Partner%Cost%Analysis% •  •  •  •  Upfront%% Ongoing%support% Value Propositions Outgoing%funds%to%each%stage% Health Lean Launchpad: Digital Risk/reward%at%each%stage% Center UCSF Entrepreneurship October 1, 2013 Abhas Gupta, MD Mohr Davidow Ventures @abhasguptamd
  • 13. Value Propositions Lean Launchpad: Digital Health UCSF Entrepreneurship Center October 1, 2013 My%Contact:%Put%LLP%in%Subject%Line%for%extra%points%% KARL@CODONCAPITAL.COM( Abhas Gupta, MD Mohr Davidow Ventures @abhasguptamd