Entrepreneurship 101
Success Story
The founder/inventor version
J. Paul Santerre, PhD., MSc. B.Sc.,
Associate Dean Research, Dentistry, UofT,
CSO of Interface Biologics Inc.

Interface Biologics Inc.
Convergence of two trends: Next generation:
Drug Eluting Devices
Drugs
Provides enabling
technology
Devices
• More effective
devices = superior
clinical outcomes

Three Platform Technologies at IBI
Endexo™ Technology
Passive Surface - Endexo™ can reduce platelet
activation and protein adhesion
Epidel™ Technology
Localized Drug Delivery - Epidel™ offer localized
polymer-drug delivery
Kinesyx™ Technology
Bioactive Coatings - Kinesyx™ is versatile to
deliver a range of potent
compounds to surfaces

How did I get here?
 OPPORTUNITY  DECISION (outcome)
→Biomaterials training
-1986-89: Ph.D. in Eng
polymer processing vs developed multi-discipli-
polymeric Biomaterials nary knowledge in
implant physiology,
materials sci., biology
→ Ottawa Heart Institute
-1990: Materials lab
(OHI) provided
Manager on Canada’s
exposure milestone
first Artificial heart
driven research, vendor
program at OHI vs 2
selection experience,
year postdoc at a
systems engineering,
biomaterials research
studies in inflammation
Institute in Paris,
research.[R20%,D80%]
France.

How did I get here? (continued)
 OPPORTUNITY  DECISION (outcome)
→At UofT I was
-1993: Transfer to World
Heart Corp. or take an strategically positioned
Academic Position at in the applied bio-
the Centre for engineering circle. The
Biomaterials, UofT to research program
develop my own ideas. developed around
Industry-Univ.
(VasCath, Bayer,
Zimmer…) and clinical
Collaborations , and
maintained a strong
publication record.

How did I get here? (continued)
 OPPORTUNITY  DECISION (outcome)
→Patent/Publish was
-1995-2001: “Patent and
Publish” vs “Publish or double the work, but the
Perish” mechanisms to support
patent and translational
work were being built in
the 1990’s. Last
element missing was a
bridge seed financing
structure (e.g. Genesys
Capital Partners)

How did I get here? (continued)
 OPPORTUNITY  DECISION (outcome)
→Financed Interface Biologics
-2001:
Inc. with $1,000,000 and
License 3 platform
incubated the company at
technologies or start a
UofT for 3 years, delivered
company. I took on the role
on milestones with a 2nd
of CSO and President for 4
$1,000,000 bridge financing.
years
Why:
In 2004 received $10M
Generating the jobs and the
venture consortium
value here in Ontario felt like
financing.
the right thing to do, given
the funding that got us here
was Canadian and Ontario
based.

How did I get here? (continued)
 OPPORTUNITY  DECISION (outcome)
→Remaining at the Univ
-2003:
has allowed for the
Accept an Associate
translation of my
Dean Research in
financing and planing
Dentistry /consult for
experience in my
IBI, or leave the Univ for
academic position and it
fulltime head of R&D at
has maintained a direct
IBI.
link between Univ.
resources and IBI for
their R&D program and
convincing financial
institutions that they are
well supported.

Comments on the Financial picture of the
Canadian Life Sciences Start-up Industry today
 It is a growth industry (the introduction of biology into
everyday products is at its early stages)
 Biomedical knowledge is key to growing it. (Therefore
your knowledge is needed to make informed finanical
decisions)
 The players include
-the promoters,
-the players looking for financing,
-the players that provide financing

Characteristics of a player seeking
financing with a Biotech start-up
 Soft characteristics:
-critical thinking, effective communicator, team
building, comfortable with responsibility role, multi-
tasking, organized, milestone driven
 Hard characteristics:
-Intellectual Property, strong and extensive network
of collaborators, access to facilities, interested
customers/partners, strong scientific data