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Entrepreneurship 101: From Research to Business Development & Licensing -- When science and business make a perfect blend
Entrepreneurship 101: From Research to Business Development & Licensing -- When science and business make a perfect blend
Entrepreneurship 101: From Research to Business Development & Licensing -- When science and business make a perfect blend
Entrepreneurship 101: From Research to Business Development & Licensing -- When science and business make a perfect blend
Entrepreneurship 101: From Research to Business Development & Licensing -- When science and business make a perfect blend
Entrepreneurship 101: From Research to Business Development & Licensing -- When science and business make a perfect blend
Entrepreneurship 101: From Research to Business Development & Licensing -- When science and business make a perfect blend
Entrepreneurship 101: From Research to Business Development & Licensing -- When science and business make a perfect blend
Entrepreneurship 101: From Research to Business Development & Licensing -- When science and business make a perfect blend
Entrepreneurship 101: From Research to Business Development & Licensing -- When science and business make a perfect blend
Entrepreneurship 101: From Research to Business Development & Licensing -- When science and business make a perfect blend
Entrepreneurship 101: From Research to Business Development & Licensing -- When science and business make a perfect blend
Entrepreneurship 101: From Research to Business Development & Licensing -- When science and business make a perfect blend
Entrepreneurship 101: From Research to Business Development & Licensing -- When science and business make a perfect blend
Entrepreneurship 101: From Research to Business Development & Licensing -- When science and business make a perfect blend
Entrepreneurship 101: From Research to Business Development & Licensing -- When science and business make a perfect blend
Entrepreneurship 101: From Research to Business Development & Licensing -- When science and business make a perfect blend
Entrepreneurship 101: From Research to Business Development & Licensing -- When science and business make a perfect blend
Entrepreneurship 101: From Research to Business Development & Licensing -- When science and business make a perfect blend
Entrepreneurship 101: From Research to Business Development & Licensing -- When science and business make a perfect blend
Entrepreneurship 101: From Research to Business Development & Licensing -- When science and business make a perfect blend
Entrepreneurship 101: From Research to Business Development & Licensing -- When science and business make a perfect blend
Entrepreneurship 101: From Research to Business Development & Licensing -- When science and business make a perfect blend
Entrepreneurship 101: From Research to Business Development & Licensing -- When science and business make a perfect blend
Entrepreneurship 101: From Research to Business Development & Licensing -- When science and business make a perfect blend
Entrepreneurship 101: From Research to Business Development & Licensing -- When science and business make a perfect blend
Entrepreneurship 101: From Research to Business Development & Licensing -- When science and business make a perfect blend
Entrepreneurship 101: From Research to Business Development & Licensing -- When science and business make a perfect blend
Entrepreneurship 101: From Research to Business Development & Licensing -- When science and business make a perfect blend
Entrepreneurship 101: From Research to Business Development & Licensing -- When science and business make a perfect blend
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Entrepreneurship 101: From Research to Business Development & Licensing -- When science and business make a perfect blend

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Part of the MaRS Entrepreneurship 101 Event Series …

Part of the MaRS Entrepreneurship 101 Event Series
Being able to link science and business by "speaking both languages" is a great advantage when playing a managerial role in a biotechnology company. Mathieu will be discussing how he is able to use the knowledge he acquired by combining his entrepreneurial venture experience with his training in fundamental life science.

Speaker: Mathieu Boudreau, Ph.D., Manager, Business Development, Aegera Therapeutics Inc.
Download the audio presentation and post questions on the MaRS blog:
http://blog.marsdd.com/2007/03/16/entrepreneurship-101-how-important-is-grey-hair/

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  • 1. Entrepreneurship 101 - Science and Business do Mix Mathieu Boudreau MaRS Lecture Series March 13, 2007 From Research to Business Development & Licensing – When Science and Business Make a Perfect Blend
  • 2. Preface <ul><li>The objective of this presentation is to share my experience (good &amp; bad) as it relates to my transition from academic science to business: </li></ul><ul><ul><ul><li>Transitioning from the “bench” to a biotech business development/licensing career via an “unexpected &amp; unplanned” entrepreneurship experience! </li></ul></ul></ul><ul><li>Notice: statements and conclusions in this presentation reflect personal experience - are subjective, and may not apply to everyone. </li></ul><ul><li>This presentation contains subject matter which may cause extreme pleasure and uncontrollable urges to become an entrepreneur – VIEWER DISCRETION IS ADVISED! </li></ul>
  • 3. Outline <ul><li>Background on Doctoral Studies </li></ul><ul><li>How it All Started </li></ul><ul><li>Starting-Up a Business </li></ul><ul><li>The Rise and Fall of a Start-Up </li></ul><ul><li>What Would I Do Differently? </li></ul><ul><li>What Did I Learn from This? </li></ul><ul><li>Choosing a New Career Path </li></ul><ul><li>About Aegera Therapeutics Inc. </li></ul><ul><li>What’s my Job Like? </li></ul><ul><li>What’s Next? </li></ul>
  • 4. Background on Doctoral Studies <ul><li>Ph.D. at McGill – Montreal Neurological Institute </li></ul><ul><li>Supervisor: Dr. David R. Kaplan </li></ul><ul><li>Thesis: The roles of Akt in the regulation of apoptosis/survival of neurons and glioblastoma cells </li></ul><ul><ul><ul><li>Negative regulation of MLK-3/JNK by Akt-dependent phosphorylation </li></ul></ul></ul><ul><ul><ul><li>Positive regulation of XIAP by Akt-dependent phosphorylation </li></ul></ul></ul><ul><li>General interests: signalling complex/scaffold dynamics </li></ul>
  • 5. How it All Started <ul><li>Met a group of physicists/software engineers in a coffee shop in 2000 </li></ul><ul><ul><ul><li>They a had developed prototype technologies for medical imaging/computer-assisted detection (CAD). </li></ul></ul></ul><ul><ul><ul><li>Were interested in starting-up a company to develop the prototypes for medical applications in vascular diseases. </li></ul></ul></ul><ul><ul><ul><li>Needed someone who could “speak the language” and may have contacts in the medical field. </li></ul></ul></ul><ul><li>Subsequently became involved on a part-time basis (evenings and weekends) while I was still in grad school </li></ul><ul><ul><ul><li>Establishing contacts for Research collaborations </li></ul></ul></ul><ul><ul><ul><li>Writing Business Plan </li></ul></ul></ul>
  • 6. <ul><li>Step 1 – Writing a business plan (2001) </li></ul><ul><li>Learned how to write a business plan </li></ul><ul><ul><li>Researched market and competitive environment data and established a marketing/sales plan </li></ul></ul><ul><li>Recipient of several business plan/entrepreneurship competition awards - including cash bursaries </li></ul><ul><ul><li>As a result became incubated by the HEC-poly-University of Montreal Entrepreneurship Center </li></ul></ul><ul><ul><li>The Company hired its first part time employee </li></ul></ul>How it All Started
  • 7. <ul><li>Step 2 – Seeking seed financing (2001/2002) </li></ul><ul><li>Raised close to $2 million in seed financing (debt and grants) </li></ul><ul><ul><ul><li>Built a small team </li></ul></ul></ul><ul><ul><ul><li>Nominated an Advisory Committee </li></ul></ul></ul><ul><ul><ul><li>Developed a solid scientific/business/legal “entourage” </li></ul></ul></ul><ul><ul><ul><li>Filed patent applications </li></ul></ul></ul><ul><ul><ul><li>Setup research collaborations (academic and industrial) </li></ul></ul></ul><ul><ul><ul><li>Developed products to proof of concept/beta testing </li></ul></ul></ul>How it All Started
  • 8. Facing Choices <ul><li>As I was finishing up my Ph.D. I needed to make a decision as it relates to my career path....... </li></ul>
  • 9. The Rise.... <ul><li>Built a team of up to 17 people </li></ul><ul><li>Signed several collaboration agreements (research &amp; business) </li></ul><ul><li>Signed a contract (product sale/custom development) with a mid-cap biotech company </li></ul><ul><li>Identified important business opportunity </li></ul><ul><li>In-licensed patent portfolio and prototype for a medical device from a small biotech company </li></ul><ul><ul><ul><li>Fiber optic sensor-based diagnostic/interventional catheter for vulnerable atherosclerotic plaque </li></ul></ul></ul><ul><ul><ul><li>To be coupled to our other products in development </li></ul></ul></ul><ul><li>Engaged in advanced discussions with several medical device and pharmaceutical companies around our company and products </li></ul><ul><li>Engaged in advanced negotiations with a medical device company interested in acquiring our company </li></ul><ul><li>And then ........ </li></ul>
  • 10. .... And Fall of a Start-up <ul><li>Companies ended up not agreeing on the terms of the acquisition </li></ul><ul><li>Our Company did not have much cash flow </li></ul><ul><li>Our normal operations/product development were significantly slowed down by the M&amp;A discussions </li></ul><ul><ul><ul><li>Due diligence process impeded our normal activities and delayed our planned product development timelines </li></ul></ul></ul><ul><li>We were having a difficult time attracting VC investment – early products, high risk/competition </li></ul><ul><li>In an effort to reduce expenditures and allow the Company time to select the best strategic option, we implemented a restructuring plan which involved downsizing </li></ul><ul><li>However, in spite of significant efforts to turn the situation around the Company was forced to cease its operations </li></ul><ul><li>The rest became an exercise in “damage control” </li></ul>
  • 11. What Would I do Differently? <ul><li>I would join an experienced/senior team from which I would learn more efficiently – Great value in learning from experienced individuals – less learning from our own or other people’s mistakes </li></ul><ul><li>Would probably become involved in a project with more mature products/technologies </li></ul><ul><li>Would favor a more pragmatic and focused approach </li></ul><ul><ul><ul><li>Initially build on one project </li></ul></ul></ul><ul><li>Would probably become involved in a drug discovery/development company </li></ul>
  • 12. What Did I Learn From This? <ul><li>Having a good relationship with my supervisor was key – Dr. Kaplan was very supportive of my involvement in this company, even as a graduate student </li></ul><ul><li>Making career choices out of frustration is not ideal </li></ul><ul><li>Being bold, taking chances, trying new things is a good thing – but staying rational and understanding your level of tolerance to risk and stress is very important! </li></ul><ul><li>Make sure that you get along with your future colleagues/partners – you spend a lot of time with them when you start-up a company </li></ul><ul><li>Learn how to set your limits both physically and emotionally </li></ul>
  • 13. What Did I Learn From This? <ul><li>Make sure you understand or are advised on legal aspects – understand your personal liabilities </li></ul><ul><li>Give it all you’ve got – but being able to say that’s not what I want anymore is really important </li></ul><ul><li>Don’t let the prospects of financial success become your main driver/motivation! </li></ul><ul><li>Great scientific/technological ideas do not guarantee and are often not good enough for commercial success! </li></ul><ul><li>No regrets – anyways you can’t do anything about it! </li></ul><ul><li>Be open-minded to new opportunities </li></ul>
  • 14. Aegera Therapeutics Inc.
  • 15. Aegera Programs <ul><li> </li></ul><ul><li>Apoptosis Inhibition for Cancer </li></ul><ul><ul><li>Molecular Target: Inhibitor of Apoptosis Proteins (IAPs) </li></ul></ul><ul><ul><ul><li>AEG35156 Antisense Program </li></ul></ul></ul><ul><ul><ul><li>IAP Small Molecule Program </li></ul></ul></ul><ul><li>Apoptosis Inhibition for Neuropathy &amp; Neuropathic Pain </li></ul><ul><ul><li>Molecular Target: HSP 90/JNK Pathway Inhibition </li></ul></ul><ul><ul><ul><li>Small Molecule Program </li></ul></ul></ul><ul><ul><ul><li> </li></ul></ul></ul>
  • 16. Aegera’s Focus Apoptosis Control Drugs <ul><li>Cancer </li></ul>Neuropathy &amp; Pain <ul><li>Diabetic </li></ul><ul><li>Chemotherapeutic </li></ul><ul><li>Autoimmune </li></ul><ul><li>Inflammation </li></ul>Prevent Facilitate A P O P T O S I S
  • 17. Pipeline Status/Projections <ul><li>Oncology </li></ul><ul><ul><li>AEG35156 </li></ul></ul><ul><ul><ul><li>2 nd generation antisense in 4 Phase1-2 clinical trials </li></ul></ul></ul><ul><ul><ul><li>Early indications of target knockdown/efficacy </li></ul></ul></ul><ul><ul><ul><li>Multiple Phase 2 programs to be initiated in 2007 </li></ul></ul></ul><ul><ul><li>Small Molecule IAP Inhibitor </li></ul></ul><ul><ul><ul><li>Solid in vitro/in vivo Proof-of-Principle </li></ul></ul></ul><ul><ul><ul><li>Clinical development candidate selected in Q1/07 </li></ul></ul></ul><ul><ul><ul><li>Targeting i.v. P1 trial for Q1/08 </li></ul></ul></ul><ul><li>Neuropathy &amp; Neuropathic Pain </li></ul><ul><ul><ul><li>Small molecule program that targets HSP90/JNK Pathway </li></ul></ul></ul><ul><ul><ul><li>Strong in vitro/in vivo for diabetic neuropathic pain </li></ul></ul></ul><ul><ul><ul><li>Targeting oral P1 trial for Q4/07 </li></ul></ul></ul>
  • 18. <ul><li>Dominant Intellectual Property Base – Over 100 Issued &amp; Pending Patents/Applications </li></ul><ul><li>Five Members of the IAP Family (Antibodies, Genes &amp; Fragments) </li></ul><ul><li>Composition of Matter/Pharmaceutical Compositions – Antisense, Small Molecules </li></ul><ul><li>Methods of Treatment – Cancer, Neuropathic Pain/Neuropathy, Inflammation, Autoimmune Diseases </li></ul>TARGETED APOPTOSIS CONTROL AEGERA R&amp;D STRATEGY THERAPEUTIC AREAS TARGETS/ MECHANISM PRODUCT/ NME <ul><li>Cancer </li></ul>XIAP Knock Down 2 nd Generation Antisense (AEG35156) <ul><li>Cancer </li></ul><ul><li>Autoimmune </li></ul><ul><li>Inflammation </li></ul>Pan IAP Suppression Small Molecule Inhibitors <ul><li>Neuropathic </li></ul><ul><li>Pain </li></ul><ul><li>Neuropathy </li></ul>JNK Pathway/ HSP Small Molecule Modulators <ul><li>Cancer </li></ul><ul><li>Neuropathy </li></ul><ul><li>Pain </li></ul>Apoptosis Regulation Small Molecules Internal Internal Internal In-Licensing/M&amp;A
  • 19. Proprietary Targets: IAP Protein Family (IAP = “Inhibitor of Apoptosis Protein”) XIAP Expression in Pancreatic Cancer <ul><li>Gene family discovered by Aegera </li></ul><ul><li>Central role in apoptosis inhibition </li></ul><ul><li>Strong correlation with cancer staging, outcome and resistance </li></ul><ul><li>Dominant/fundamental IP on family </li></ul>“ The IAPs…are the most powerful intrinsic inhibitors of cell death. ….IAP antagonists are promising candidates for anticancer therapies…” U. Fischer, K. Schulze-Osthoff “ Apoptosis-based therapies and drug targets”, Cell Death and Differentiation , 2005
  • 20. XIAP: A Validated Cancer Target <ul><li>Cancer cells are highly resistant to apoptosis; yet in many cases are primed for apoptosis </li></ul><ul><li>XIAP inhibits caspase activities coupled to both intrinsic &amp; extrinsic apoptotic pathways (caspases 3,7,9) </li></ul><ul><li>When XIAP is elevated caspase-dependent apoptosis can’t occur </li></ul><ul><li>Inhibiting XIAP lowers the apoptotic threshold in cancer cells when challenged with CT agents </li></ul><ul><li>Clinically, XIAP expression/regulation correlates with prognosis (AML, renal, prostate, etc..) </li></ul><ul><li>TNF </li></ul><ul><li>TRAIL </li></ul><ul><li>Fas </li></ul>
  • 21. Aegera Compounds Demonstrate Neuroprotective Activity and Pain Relief Pain Relief &amp; RNAi suppression of HSP70 blocks cmpd-induced JNK inhibition Cmpds fail to induce HSP70 in HSF1 knock out cells JNK CASPASE 3 CASPASE 9 MITO Cyto C CASPASE 7 Bad Bim Cell Survival HSP70 HSP5 others ... HSF1 HSF1 HSF1 HSP70 HSF1 Induces HSP70 HSF1 HSF1 HSP90 Compounds bind to HSP90 and release HSF1 HSP70 potently Inhibits JNK
  • 22. Potential Therapeutic Areas Based on MOA Ischemia &amp; Stroke (excitotoxicity) CDT CNS Neuro Disorders 63-7 [2005] Alzheimer’s Disease Am J Alz Other Demen 79-88 [2002] Parkinson’s Disease IUBMB Life 267-71 [2003] Huntington’s Disease Neuroscience 859-70 [2004] Diabetic Neuropathy FASEB 15: 2508 [2001] JBC 278: 23151 [2003] Diabetologia 49(3): 580 [2006] Mol Pharm. 70:1246 [2006] Taxol Neurotoxicity J. Neurosci. 21: 4657 [2001] JBC 278: 567 [2003] Neuropathic Pain Pain 99: 175 [2002] Biochem. Biophys. Res.Comm. 335: 132 [2005] J. Neurosci. 26(13): 3551 [2006] Axotomy-induced Neuronal Death JBC 280: 1132 [2005] HIV-induced PN Exp. Neurol. 188: 246 [2004] Stress-induced Death of SCGs and DRGs JBC 276: 4531 [2001] CNS PNS
  • 23. Experienced Management Team Shire, Biochem Pharma, NCI (National Cancer Institute) 26 VP Clinical Jacques Jolivet, M.D. NRC, U of Ottawa, Salk Institute 28 VP Drug Discovery Jon Durkin, Ph.D. Telecom, TD Securities 18 Chief Operating Officer &amp; Chief Financial Officer Donald Olds, M.Sc., MBA BioChem Pharma, Merck 29 Chief Scientific Officer John Gillard, Ph.D. RCT, AEA Investors, Bayer, Pfizer 24 President &amp; CEO Michael Berendt, Ph.D. Prior Experience Years of Experience Title Name
  • 24. Aegera Development Pipeline CANDIDATE SELECTION PHASE 1 PHASE 2 PHASE 3 AEG35156 Small Molecule IAP Antagonists Mono Small Molecule Neuropathy/Pain Combination
  • 25. Aegera Development Pipeline - 2008 CANDIDATE SELECTION PHASE 1 PHASE 2 PHASE 3 AEG35156 Small Molecule IAP Antagonists Mono Small Molecule Neuropathy/Pain Combination Small Molecule Licensed
  • 26. Aegera In-Licensing Criteria <ul><li>Small molecule therapeutic addressing unmet medical needs in either oncology, peripheral neuropathies or pain; </li></ul><ul><li>Direct activity on a known and biologically validated target preferentially involved in apoptosis control; </li></ul><ul><li>Primary indication that will allow a meaningful clinical readout in a Phase 2 study; </li></ul><ul><li>Lead compound no more than 6-12 months from IND filing up to Phase 3 (with an emphasis on proof of principle); </li></ul><ul><li>High quality preclinical or clinical data from well planned and administered preclinical models or trials; </li></ul><ul><li>Market potential of $ 250M or greater; </li></ul><ul><li>Solid and expandable intellectual property base </li></ul>
  • 27. Contact: Aegera Therapeutics Inc. 810 Chemin du Golf Montreal, Quebec H3E 1A8 T: 514-288-5532; F: 514-288-9280 www.aegera.com
  • 28. What’s My Job Like? <ul><li>Try to find strategic partners for our programs (out-licensing/partnering) </li></ul><ul><li>Shop for drug programs which complement our current pipeline (in-licensing) </li></ul><ul><li>Explore/seek M&amp;A opportunities </li></ul><ul><li>Member of the R&amp;D Management Committee </li></ul><ul><li>Secretary of the Licensing Review Committee </li></ul><ul><li>Represent BD/Licensing in internal program team meetings – align R&amp;D and business objectives </li></ul><ul><li>Competitive business intelligence &amp; market research </li></ul><ul><li>Take care of marketing on the side </li></ul>
  • 29. What’s Next <ul><li>Expand my skill set/experience in BD/Licensing </li></ul><ul><li>Continue contributing to Aegera’s growth </li></ul><ul><li>Experience an IPO or major acquisition </li></ul><ul><li>Keep my options open – large biotech/pharma, equity analyst.... </li></ul><ul><li>.....in a few years, with more experience and even less hair, if an opportunity comes along......maybe start-up a new company!! </li></ul>
  • 30. Thank You!

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