Cebr 1st Incubation Sig 2


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Cebr 1st Incubation Sig 2

  1. 1.
  2. 2. TLS Foundation Toscana Life Sciences Foundation was established in Siena two years ago by different public and private subjects, with the aim of supporting research activities in the field of life Sciences and, in particular, fostering the development of projects from basic research to industrial application in the field of Life Sciences The TLS final mission is to trigger the technological and industrial development and improve job and wealth creation in the Tuscan Region
  3. 3. TLS mission Toscana Life Sciences Regional Universities Public Administration Local Financial Institutions Strengthening the value of research Territory Industrial development
  4. 4. Founders
  5. 5. Germano Carganico General Manager Andrea Paolini Administration Ilaria Niccolai Administrative Assistant Francesco Refi Infrastructures/ IT Francesco Maria Senatore Business Development Letizia Sensini Comunication Cristina Tinti Scientific Affairs Laura Salvini Technology Facilities TLS Foundation boards and staff Founders Board Executive Board Scientific Advisory Board
  6. 6. <ul><li>Sustain applied research in the biomedical field, with a major interest versus socially relevant pathologies </li></ul><ul><li>The Tuscan Institute for Neglected Disease </li></ul><ul><li>Develop the cluster by attracting companies operating in the pharmaceutical/biomedical field </li></ul><ul><li>The bio-incubator and the science park </li></ul>TLS – Activities
  7. 7. TLS project chronology December 2007 Other two companies move in December 2004 September 2005 December 2005 February 2006 July 2006 November 2006 March 2007 TLS foundation’s establishment TLS operations begin 1° Call for Incubation Restructuring of Bio-incubator starts First project selection The Bio-incubator is inaugurated First two companies start operations
  8. 8. Total surface area: 83.000 sq. mt. Total buildings surface: 38.400 sq. mt. Labs (research/devel./Q.A.): 8.200 sq. mt. Production plants: 6.800 sq. mt. Warehouses: 2.800 sq. mt. Offices: 8.400 sq. mt. Services: 4.700 sq. mt. TLS bio-incubator and Sienabiotech <ul><li>Industrial and academic research activities </li></ul><ul><li>Center of excellence for Novartis Vaccines </li></ul><ul><li>More than 400 researchers </li></ul><ul><li>Common facilities, services and utilities </li></ul>Location: Siena - “Torre Fiorentina” Novartis site
  9. 9. TLS bio-incubator
  10. 10. TLS bio-incubator – facilities <ul><li>1 st stage. July 2006, 1.700 sq. mt. </li></ul><ul><ul><li>5 Modules (lab + offices) of 90 sq. mt. </li></ul></ul><ul><ul><li>3 Modules (lab + offices) of 60 sq. mt. </li></ul></ul><ul><ul><li>PCL3 lab, analytical, NMR, animal house facility, cell culture lab, etc </li></ul></ul><ul><ul><li>Common services (reagents, solvents, stockroom, etc) </li></ul></ul><ul><ul><li>Offices </li></ul></ul><ul><ul><li>Reception, meeting rooms </li></ul></ul><ul><li>2 nd stage. Fall 2008, tot 3.000 sq. mt. </li></ul>
  11. 11. TLS bio-incubator - funding <ul><ul><li>Total initial investment: 12 M € (restauration of the building / technological facilities) </li></ul></ul><ul><ul><li>Infrastructures & equipments co-financed (60%) mainly by public grants </li></ul></ul><ul><ul><li>Yearly running costs: 3.5 M € (60% covered by space rental and provided services) </li></ul></ul>
  12. 12. Positioning the TLS bio-incubator <ul><li>Monothematic : pharmaceutical / biomedical </li></ul><ul><ul><li>drugs (no specific clinical focus) </li></ul></ul><ul><ul><li>diagnostics </li></ul></ul><ul><ul><li>medical devices </li></ul></ul><ul><ul><li>biomedical technologies </li></ul></ul><ul><li>Applied research </li></ul><ul><li>Development (expertise and infrastructures) </li></ul>
  13. 13. <ul><li>Custom tailored lab spaces, </li></ul><ul><li>Laboratory equipment </li></ul><ul><li>Access to common technological facilities </li></ul><ul><li>General services (site maintenance and security, utilities, reception, centralized procurement,..) </li></ul><ul><li>Consulting services </li></ul><ul><li>Support for financing </li></ul>What we offer - Nurturing the young projects
  14. 14. Consulting services - Nurturing the young project <ul><li>Intellectual property protection </li></ul><ul><li>Technology transfer </li></ul><ul><li>Licencing </li></ul><ul><li>Personnel recruitment </li></ul><ul><li>Legal advice </li></ul><ul><li>Finance and fiscal issues </li></ul><ul><li>Product development </li></ul><ul><li>Business development </li></ul><ul><li>Marketing and communication </li></ul><ul><li>Identifying industrial and financial partners </li></ul>
  15. 15. <ul><li>Preferential access to a local seed capital company (BioFund) </li></ul><ul><li>Consolidated relationships with several financing subjects: </li></ul><ul><ul><li>Regional closed investment funds (SienaVenture, ToscanaVenture) </li></ul></ul><ul><ul><li>Other national investment funds (Quantica, Sviluppo Italia) </li></ul></ul><ul><ul><li>Venture Capital (Sofinnova, Index, Neomed, Sofimac, LM-LS, 360°Partners, etc.) </li></ul></ul><ul><ul><li>Business Angels </li></ul></ul><ul><li>Establishment of theTLS Investment Advisory Panel </li></ul><ul><li>Support for national and international grant scouting and submission application </li></ul>Support for financing - Nurturing the young project
  16. 16. Financing Incubated Companies <ul><li>Involvement of the local “seed capital” company (BioFound) and local funds </li></ul><ul><li>3-year financing (extension to 5 years) </li></ul><ul><li>Private Equity scheme (majority to the financial investors) with increasing quotes for the promoters mainly linked to research milestones </li></ul><ul><li>Attraction of further investors </li></ul>
  17. 17. BioFound <ul><li>Seed capital company” established by MPS Foundation, MPS Bank, Finanziaria Senese di Sviluppo and Fidi Toscana </li></ul><ul><li>BioFound will act preferentially as co-financing partner acquiring equities of the start-ups facilitating a second investors entry </li></ul><ul><li>Financing range over 3 years: 1-3 M Euro </li></ul><ul><li>Very flexible Private Equity investment scheme: </li></ul><ul><ul><li>Minority participation to the company capital (under 49%) </li></ul></ul><ul><ul><li>low rate of return expected </li></ul></ul><ul><ul><li>Medium/long term exit strategy </li></ul></ul>
  18. 18. First round financing                            
  19. 19. Second round financing Z- Cube                            
  20. 20. <ul><li>The biotechnology industry is steadily growing </li></ul><ul><li>The Italian biotech industry is growing and catching up with the European standard </li></ul><ul><li>There is a strong biotech tradition in Siena </li></ul><ul><li>There is a relevant academic setting (high level of scientific production) </li></ul><ul><li>The development of the biotech sector is supported by local and regional government </li></ul><ul><li>Business incubators in the EU make a significant contribution to job and wealth creation ( Benchmarking of Business Incubators, EC Enterprise Directorate General, February 2002 ) </li></ul>Major reasons for establishing the bio-incubator
  21. 21. 19 Tuscany Cluster The cluster is home to: 19 Biotech companies,10 of which born since 2000 14 Global Biotech & Pharma research centers active in clinical trials 55 Biotech/Pharma locations of Manufacturing, Research and Administration 3 Universities areas (more than 7.600 graduates in technical e scientific fields in 2004) 78 Hospitals involved in clinical trial (with an average of 23 trials per organization) 1.029 Clinical trials (excluding phase I) conducted in the period 2000-2004 Total = 19 Number of Biotech Companies by Sector 2004 Tuscany: a strategic research location From “Invest in Tuscany – Biotechnology Report 2006” Territory : • Inhabitants: 3,6 millions • Population density: (163 inhabitants/ • Surface 2.992 Km
  22. 22. Bio-incubator - mission and goals <ul><li>Mission </li></ul><ul><li>Support the birth of new entrepreneurial activities in the biomedical and pharmaceutical fields in order to reach a critical mass for the generation and self sustainment of a biotech cluster in the Tuscan Region </li></ul><ul><li>Goals </li></ul><ul><li>Exploit the know how generated in the regional academic setting </li></ul><ul><li>Sustain company, academic spin off and start up </li></ul><ul><li>Attract entrepreneurial activities in the biotech sector from other regions </li></ul>
  23. 23. <ul><li>The TLS incubator is open to start-up, spin-off and recently set-up companies (less than 3 years old) wishing to relocate </li></ul><ul><li>Applicants must have a sound business idea, a consolidated research history in the field and preferentially, a previous collaboration with industry </li></ul><ul><li>The agreement will be for 3 -5 years. The rental expenses cover the lab space, utilities and general services </li></ul><ul><li>Once companies are mature they can move to an industrial area close to Siena (master plan in progress) </li></ul><ul><li>TLS will still provide consultancies and facilities for the developmental phase </li></ul>Access to the TLS bio-incubator
  24. 24. The deal -flow International Call for Application Scouting Tight relationship with the TTO of the Tuscan universities project selection (quality as guiding criterion) Finding start up financing Business plan submission TLS Executive Board approval Incubation
  25. 25. Selected companies Photodynamic antimicrobial therapy Diagnostics for autoimmune diseases Pain treatment and new antipsychotics New targets for oncology and autoimmunity Degenerative diseases (VEGF-D biology) Cocaine addiction treatment Branched peptides for tumor targeting Cancer vaccines <ul><li>Molteni spin-off </li></ul><ul><li>Toscana Biomarkers </li></ul><ul><li>AxaPharm </li></ul><ul><li>Externautics </li></ul><ul><li>SienaGen </li></ul><ul><li>Rasna </li></ul><ul><li>SetLance </li></ul><ul><li>Gladium </li></ul>Project Company
  26. 26. Features of the first 8 selected projects <ul><li>Coming from: Siena, Firenze, Pisa, Milano, San Diego, Copenhagen </li></ul><ul><li>Mostly academic spin-off (6) </li></ul><ul><li>Previous licensing-out experience (3) </li></ul><ul><li>Presence of an industrial partner (3) </li></ul><ul><li>Previous experience of spin-off / start-up process (4) </li></ul><ul><li>Proprietary technology platform (3) </li></ul><ul><li>Intellectual property assets (7) </li></ul>
  27. 27. TLS science park companies Externautics AxaPharm
  28. 28. Unmet needs <ul><li>Available managers trained in the pharma/biotech sectors </li></ul><ul><li>Courses of entrepreneurship for young scientists </li></ul><ul><li>More high risk financing subjects </li></ul><ul><li>Business intelligence activities </li></ul>
  29. 29. TLS bioincubator peculiarity <ul><li>Highly customized lab setting </li></ul><ul><li>Lab equipment for 200.000 euro </li></ul><ul><li>Technology facilities </li></ul><ul><li>Well developed consultant’s network </li></ul><ul><li>Attracting environment </li></ul>