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14.50 – 15.10 – Keynote Address

Exclusive overview of 2013 UK Life Sciences
Start-up Environment: The Fourth Annual
Revie...
Early stage life sciences
Glenn Crocker
CEO BioCity
BioCity Group
MediCity-Boots

Glasgow

BioHub- AstraZeneca

Nottingham
What	
  we	
  do	
  
Create deal flow and
users of services

Catalyse
business
formation

Create environment for
tenant co...
The world turned upside down
The kids are moving in…
Ø  AZ	
  -­‐	
  Charnwood,	
  Alderley	
  
Park,	
  Lund…	
  	
  
Ø  MSD-­‐	
  Newhouse	
  
Ø  ...
Pharma Incubates
Bayer- Colaborator- San Franscisco
GSK- Stevenage Biocatalyst
J&J- London, Boston, California, Shanghai

...
No more “I” in IP?
Lead discovery- €80M 5 years

Autism- £25M 5 years
Funding innovation
GSK- $50M into $250M Sanderling west coast USA early stage fund
GSK- £265M- Avalon start-up fund- San D...
What does this mean for early
stage companies?
Focus on start-ups- the next generation and a sign of things to come
BioCit...
Start-up activity declining in UK
UK	
  Life	
  Science	
  Start-­‐ups	
  
320	
  
315	
  
310	
  
305	
  
300	
  
295	
  ...
University Spin-outs
University	
  Life	
  Science	
  Spin-­‐outs	
  
12	
  
10	
  
8	
  
6	
  
4	
  
2	
  
0	
  

LS Rese...
University spin out activity
University spin-out activity correlates to quality and volume of research;
Spreading funding ...
Investment in Life science startups
UK	
  Life	
  Science	
  Start-­‐up	
  Investment	
  
410	
  
400	
  
390	
  

Amount ...
Investment Pool Growing
Welsh Life Science Fund- £50-100M
Rock Spring Scottish Fund- £50M
IP Group- £30M
Fusion IP - £20M
...
Structural Investment challenges
remain
Ø  Shortage of confident
Ø  investors in UK

Ø Lack	
  of	
  confidence	
  	
  
...
How do we break the cycle?

-Early stage funding = corporate, university/public, philanthrop
-longer horizons, strategic i...
The world turned upside down
Large pharma downsizing and moving out
–  Small	
  pharma/bio	
  moving	
  in	
  
–  Leveragi...
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Exclusive overview of 2013 UK Life Sciences Start-up Environment: The Fourth Annual Review of Life Sciences Start-up Companies

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Exclusive overview of 2013 UK Life Sciences
Start-up Environment: The Fourth Annual Review of Life Sciences Start-up Companies.
A presentation by Dr Glenn Crocker of Biocity at Pharma Integrates 2013, an event for senior management in the pharmaceutical industry created and run by Life Sciences Index.

Published in: Business, Economy & Finance
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Exclusive overview of 2013 UK Life Sciences Start-up Environment: The Fourth Annual Review of Life Sciences Start-up Companies

  1. 1. 14.50 – 15.10 – Keynote Address Exclusive overview of 2013 UK Life Sciences Start-up Environment: The Fourth Annual Review of Life Sciences Start-up Companies Dr. Glenn Crocker
  2. 2. Early stage life sciences Glenn Crocker CEO BioCity
  3. 3. BioCity Group MediCity-Boots Glasgow BioHub- AstraZeneca Nottingham
  4. 4. What  we  do   Create deal flow and users of services Catalyse business formation Create environment for tenant company success Invest £ Knowledge of companies lends to better investments Rental income Service income £ £ Early return Exit investment £ Investment return 4
  5. 5. The world turned upside down
  6. 6. The kids are moving in… Ø  AZ  -­‐  Charnwood,  Alderley   Park,  Lund…     Ø  MSD-­‐  Newhouse   Ø  Pfizer  –  Sandwich….   Ø  NovarDs-­‐  Horsham…   Ø  Sanofi-­‐  Dagenham,   Toulouse,  Montpelier   Ø  Etc  etc  
  7. 7. Pharma Incubates Bayer- Colaborator- San Franscisco GSK- Stevenage Biocatalyst J&J- London, Boston, California, Shanghai •  Merck Serono- Israel But others quietly stopped: •  Pfizer •  Biogen-Idec
  8. 8. No more “I” in IP? Lead discovery- €80M 5 years Autism- £25M 5 years
  9. 9. Funding innovation GSK- $50M into $250M Sanderling west coast USA early stage fund GSK- £265M- Avalon start-up fund- San Diego Lilly-Roche- Indiana Research Institute - $50M start-up funding Merck KGaA- €60M addition to CV fund
  10. 10. What does this mean for early stage companies? Focus on start-ups- the next generation and a sign of things to come BioCity UK Life Science Start-up review
  11. 11. Start-up activity declining in UK UK  Life  Science  Start-­‐ups   320   315   310   305   300   295   290   285   280   275   2005-­‐2009   2006-­‐2010   2007-­‐2011   2008-­‐2012   Number of life science companies formed in 5 year period
  12. 12. University Spin-outs University  Life  Science  Spin-­‐outs   12   10   8   6   4   2   0   LS Research Power> 1,000 LS Research Power < 1,000 •  5 of top 10 universities for life science spinouts are Scottish •  Correlation between research base and spin-out activity remains
  13. 13. University spin out activity University spin-out activity correlates to quality and volume of research; Spreading funding more thinly and driving academics towards commercial collaborations reduces quality and volume of fundamental research; Therefore, current policies will continue to act against spin-out activity;
  14. 14. Investment in Life science startups UK  Life  Science  Start-­‐up  Investment   410   400   390   Amount invested in the period in startups created during that period 380   10 companies raised £207M ($330 370   360   350   340   330   320   310   2005-­‐2009   2006-­‐2010   2007-­‐2011   2008-­‐2012   Atlas raised $265 million for its 9th fund, committing to focus on supporting early-stage startups in life sciences and tech. The fund is expected to fuel more than 15 new biotech startups
  15. 15. Investment Pool Growing Welsh Life Science Fund- £50-100M Rock Spring Scottish Fund- £50M IP Group- £30M Fusion IP - £20M Imperial Innovations – £30M Cambridge University- £50M Nottingham Tech Fund - £40M
  16. 16. Structural Investment challenges remain Ø  Shortage of confident Ø  investors in UK Ø Lack  of  confidence      >  Dmid  invesDng   Ø Companies  lack  resources  to   recruit  quality  and  execute   plan  effecDvely   Ø Companies  fail  to  deliver   Ø Investor  becomes      more    cauDous   IPO window opening; Ø More naïve investors drawn in; Ø Poor investment decisions or investment at wrong stage Ø Pull away
  17. 17. How do we break the cycle? -Early stage funding = corporate, university/public, philanthrop -longer horizons, strategic investing -continue to build this base -VC steps in later
  18. 18. The world turned upside down Large pharma downsizing and moving out –  Small  pharma/bio  moving  in   –  Leveraging  past  spend-­‐  increasing  capital  effficiency   Opening research doors Pharma getting ever closer to early stage –  Academic  collaboraDons   –  Venturing   Impact yet to be felt for start-ups- but opportunities abound

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