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Why it is essential to invest in the innovation economy at Massbio

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  • I’m very pleased to be here and thank Bob Culver and his team for pulling together such a great event. I’ll get right to the matter. While 2009 is not the best year to forecast what our economic future will be, we can look at certain trends – with regard to the biotechnology industry.
  • In 2007, 11 of 18 NMEs came from Biotech or were licensed from Biotech 2008 15 of 22 discovered by biotech/academia
  • From 2001-2008 – biopharma employment in Massachusetts grew by 42.6% - to over 45,000 jobs, at the same time we lost more than 50,000 jobs in this state.
  • Mbis Presentation

    1. 1. MassBio Innovation Services
    2. 2. Why you need to invest in MassBio Innovation Services!
    3. 3. Despite yearly increases in R&D spending, approvals stagnate 10 20 30 40 50 60 40 30 20 10 1995 2000 2005 50 NMEs and Biologics Approved R&D Spending (US$ Billions) R&D expenditures Approvals Sources: FDA/CDER, PhRMA, PricewaterhouseCoopers Note: R&D spending from non-PhRMA companies not available Courtesy of Ted Torphy, JNJ presented at MassBio Pharma Days
    4. 4. Pharma’s failure to innovate means biotech innovation must step up <ul><li>Pharma need products </li></ul><ul><li>Increasingly, biotechs are the major source of new products </li></ul><ul><ul><li>Creating ever larger Big Pharma R&D organizations through mergers and acquisitions has failed to increase productivity and spur innovation </li></ul></ul><ul><ul><li>In recent years, over half of new product approvals were for compounds derived from biotech companies </li></ul></ul><ul><li>The traditional venture capital model is stressed: </li></ul><ul><ul><li>“… number of VCs doing the early and risky stuff is dwindling. We will probably see the number of start-ups in our space dive this year. … we simply have to find new and creative ways to keep early-stage VC alive, and to redefine roles and responsibilities among the inhabitants of the healthcare ecotope, or we will all perish together…” </li></ul></ul><ul><ul><li>Jens Eckstein, TVM Capital </li></ul></ul>
    5. 5. Life sciences innovation is the lifeblood of biopharmaceuticals <ul><li>Precious resource that should be jealously guarded </li></ul><ul><li>Very hard to emulate </li></ul><ul><li>Lifesciences is a jewel in the crown </li></ul>Established “Specialty Clusters” Cluster Size Large Emerging Cluster Capability Small World-class SF MA SD Singapore India China United Kingdom Ireland Switzerland Philadelphia RTP Canada Madison DC / Baltimore Integrated Clusters Emerging Clusters Leading Integrated Clusters Lagging Integrated Clusters
    6. 6. New partnerships are needed among key stakeholders to drive innovation <ul><li>Academia and biotech are leading sources of innovative assets, many of which are under-valued and under-resourced </li></ul><ul><li>New approaches to traditional venture financing are necessary to create value by investing in early stage opportunities </li></ul><ul><li>Without a new business model, the industry cannot meet the demand for innovative new products </li></ul><ul><ul><li>Global demand increasing due to an aging population </li></ul></ul><ul><ul><li>Growth and shareholder value will suffer </li></ul></ul><ul><ul><li>“ [Pharma] spends tremendous amounts of cash to buy each other, or to purchase their own outstanding shares to prop up share prices, and I am skeptical that they will have the persistence and vision, the personal engagement, and the relationships to budding or serial entrepreneurs required to drive innovation in the long run” </li></ul></ul><ul><ul><li>-Jens Eckstein, TVM Capital </li></ul></ul>
    7. 7. The fount of opportunity for pipeline growth and enabling technology exists with new start-ups <ul><li>Invest early into your future pipeline </li></ul><ul><li>“ Find a mechanism in your partnership to do seed investments. Help early-stage ventures find and address the killer issue or experiment as early as possible.” </li></ul><ul><li>-Jens Eckstein, TVM Capital </li></ul><ul><li>Work with MassBio to cultivate that next generation “killer app” </li></ul><ul><li>“ There are actually cool technologies laying dormant all over the place…The world is flat but our minds and eyes haven’t figured out how to capture all that global knowledge yet.” </li></ul><ul><ul><li>-Lesa Mitchell, Kauffman Foundation </li></ul></ul>
    8. 8. MassBio programs connect talent, innovation, and capital through its network . <ul><li>In 2010, MassBio will launch MassBio Innovation Services (MBIS) </li></ul><ul><ul><li>increase the efficiency by which technology and value is exchanged between buyers and sellers. </li></ul></ul><ul><li>For you, it means less time travel and money spent searching for opportunities ; it means having one place to meet the right people, for the right opportunities , to forge the right collaborations. </li></ul><ul><li>The purpose of MBIS is to improve your access to strategic assets, for license and acquisition. </li></ul><ul><li>MassCONNECT </li></ul><ul><li>MassBio Innovation Exchange </li></ul><ul><li>Pharma Days </li></ul><ul><li>Investor Forum </li></ul><ul><li>Innovators’ Roundtable </li></ul>
    9. 9. MassCONNECT – advise, mentor, and steer emerging companies arising from the program. <ul><li>Participate in identifying, screening, and selecting cutting edge life science opportunities </li></ul><ul><li>Participate in mentoring teams (to position start ups for success) around pre-funded technologies. </li></ul><ul><li>Get a “first look” </li></ul><ul><ul><li>innovative platforms, </li></ul></ul><ul><ul><li>molecules of interest, </li></ul></ul><ul><ul><li>and more predictive diagnostics, </li></ul></ul><ul><li>Opportunity to later invest and collaborate </li></ul><ul><li>MassCONNECT </li></ul><ul><li>MassBio Innovation Exchange </li></ul><ul><li>Pharma Days </li></ul><ul><li>Investor Forum </li></ul><ul><li>Innovators’ Roundtable </li></ul>
    10. 10. MassBio Innovation Exchange – Access and maximize opportunity assessment for world class IP and leading biotechnology companies <ul><li>MassBio is the one point of entry to over 375 innovative biotechnology companies and world class biomedical institutions. </li></ul><ul><li>Portal to potential new product opportunities to complement your pipeline. </li></ul><ul><ul><li>true and secure electronic connection between Innovators and bio/pharma companies. </li></ul></ul><ul><ul><li>State-of-the-art web-based program will help facilitate communications of your portfolio strategy to Sellers, and improve the overall quality, quantity and speed of commercialization of biotech innovation. </li></ul></ul><ul><li>Coupled with Pharma Days, MassCONNECT, and the Investor Forum, the Exchange will leverage the personal interaction of partnering meetings with the secure confidential exchange of information using cutting edge technology. </li></ul><ul><li>MassCONNECT </li></ul><ul><li>MassBio Innovation Exchange </li></ul><ul><li>Pharma Days </li></ul><ul><li>Investor Forum </li></ul><ul><li>Innovators’ Roundtable </li></ul>
    11. 11. Pharma Days – Concentrated and focused partnering with premiere biotech companies at your convenience <ul><li>One-on-one partnering with CEOs and heads of business development </li></ul><ul><ul><li>in your therapeutic/diagnostic space. </li></ul></ul><ul><li>Present your company’s sourcing strategy for new licenses and acquisitions to the biotechnology community. </li></ul><ul><li>Intimate and unhurried exchange of information. </li></ul><ul><ul><li>Obviate the frenzy and “noise” of other major partnering conferences </li></ul></ul><ul><li>Our staff will work with you to: </li></ul><ul><ul><li>identify, invite and follow up with the contacts you’d like to meet. </li></ul></ul><ul><li>Reserve your Pharma Day today as slots are limited to 9 per year, and they are filling up rapidly! </li></ul><ul><li>A one to two day unique partnering event that is all about your company and the visibility you get before 120+ of the most innovative biotechnology firms; </li></ul>Best of all, Pharma Days is right here in Cambridge! No need to travel, take time out of your offices, or waste time trying to find a time to meet. <ul><li>MassCONNECT </li></ul><ul><li>MassBio Innovation Exchange </li></ul><ul><li>Pharma Days </li></ul><ul><li>Investor Forum </li></ul><ul><li>Innovators’ Roundtable </li></ul>
    12. 12. MassBio Investors Forum – Aggregates deal makers from all sides at one location <ul><li>Capstone to the yearlong Pharma Days program. </li></ul><ul><li>Our flagship event is the premiere investment and partnering conference in the Northeast! </li></ul><ul><li>This year’s event drew over 500 attendees: </li></ul><ul><ul><li>corporate strategics, VCs, pharma executives, disease foundation leaders, and heads of biotechnology companies. </li></ul></ul><ul><li>Aggregates financing capital from multiple streams </li></ul><ul><li>Offers a unique opportunity to meet with new biotechnology companies and disease foundations to build therapeutic and diagnostic programs in your organization. </li></ul><ul><li>Sponsor the Investor Forum and drive content, give voice to your viewpoint through panel construction and participation, and achieve visibility before potential partners. </li></ul><ul><li>MassCONNECT </li></ul><ul><li>MassBio Innovation Exchange </li></ul><ul><li>Pharma Days </li></ul><ul><li>Investor Forum </li></ul><ul><li>Innovators’ Roundtable </li></ul>
    13. 13. Innovators Roundtables – Solutions-based dialogue with leaders in industry and stakeholders <ul><li>Exclusive roundtable discussions with leading academicians, CEOs, R&D heads, angel investors, venture capitalists. </li></ul><ul><li>The objective is to define a set of initiatives, where participants can, directly or through influence, bring the necessary funding to bear to assure that those early stage innovations with the highest potential continue to the clinic, enrich pipelines and improve options for patients. </li></ul><ul><li>  </li></ul><ul><li>to devise better collaborative models to expedite translational therapeutics. </li></ul><ul><li>MassCONNECT </li></ul><ul><li>MassBio Innovation Exchange </li></ul><ul><li>Pharma Days </li></ul><ul><li>Investor Forum </li></ul><ul><li>Innovators’ Roundtable </li></ul>
    14. 14. Subscribe to MBIS services <ul><li>MassBio Innovation Exchange – Access and maximize opportunity assessment for world class IP and leading biotechnology companies ($20,000) </li></ul><ul><ul><li>Charter member fee: $20,000 covers cost of software and first year’s annual access fee. Non-Charter Members will pay software and access fees of $60,000 the first year and $20,000 each year thereafter as part of the subscription fee; </li></ul></ul><ul><li>MassCONNECT – Get a first look at innovative platforms, therapeutics and diagnostics ($20,000 for Platinum Sponsorship) </li></ul><ul><ul><li>Company joins MassCONNECT as a platinum sponsor for $20,000. Five bio/pharma companies will be accepted as platinum sponsors. </li></ul></ul><ul><li>Pharma Days – Concentrated and focused partnering with premiere biotech companies at your convenience ($10,000) - slots are limited to 9 per year! </li></ul><ul><ul><li>Customize Pharma Days to your specification, including cocktail reception (additional cost of $5000), lunch, and breakfast. </li></ul></ul><ul><li>Investors Forum – Aggregates deal makers from all sides at one location and further connections made at Pharma Days ( $25,000) </li></ul><ul><ul><li>Company participates on the strategy of the event, planning and steering committee for the 2010 Investor Forum/BioPHARM America conference, a premiere 3 day partnering and investor conference. </li></ul></ul><ul><li>Innovators’s Roundtable – Solutions based dialogue with leaders in industry from all stakeholders ($2,500) </li></ul><ul><li>MassCONNECT </li></ul><ul><li>MassBio Innovation Exchange </li></ul><ul><li>Pharma Days </li></ul><ul><li>Investor Forum </li></ul><ul><li>Innovators’ Roundtable </li></ul>