Bio Ohio Power Point Slide Set All 9 17 10


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Bioscience in Ohio: Facts and Stats, Sept 17 for ODOD Global Markets

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  • Consider: Leis Medical Inc. founded by Arthur F. Leis in Dayton, Ohio in 1950. They have grown from a single person entrepreneurship to encompass a 71,000 square foot plant employing the latest in computer-controlled tool and manufacturing systems. 3 years ago they made a complete conversion from an auto industry supplier to 100% medical company. Beginning as a design and engineering service, we followed the natural progression of growth through tool, die and special machinery into today’s more exacting area of contract machining. We have established a premier reputation as a company to be counted on when the job is difficult and must be done accurately.
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  • Bio Ohio Power Point Slide Set All 9 17 10

    1. 1. Ohio’s Bioscience Industry Why Ohio? John F. Lewis Jr. September 17th, 2010 An Ohio Thomas Edison Center
    2. 2. Agenda <ul><li>Overview of Biosciences…in detail </li></ul><ul><li>Working Lunch </li></ul><ul><li>Overview of BioOhio’s Attraction Strategy </li></ul><ul><li>Open Discussion </li></ul>
    3. 4. Be Proud…Be Strategic “ Ohio is one of the best places in the world to optimize the profitable growth of your bioscience company because we can imbed you in an asset base, 1,253 companies and growing. We are a partner that allows you to maximize any or all phases of your business strategy”
    4. 5. The Original Biotechnologies
    5. 6. Why Listen to me? <ul><li>We are here to help you! </li></ul><ul><li>Increase leads, follow-up, help create regional jobs, give you all > visibility, > bio partnerships globally, more wins… but we need your help!!! </li></ul><ul><li>Licensed attorney in Ohio 1987 </li></ul><ul><li>20 years international and TBED experience </li></ul><ul><li>Lived in 3 countries, traveled to >50 </li></ul><ul><ul><li>VC in Caribbean, Medical/Pharma/Opto Asia </li></ul></ul><ul><li>Started offices, JV’s in Korea & China, closed one in PRC </li></ul><ul><li>Since 2001 been with BioOhio </li></ul><ul><ul><li>Helped raised more than $1.1 billion </li></ul></ul>
    6. 7. Our History <ul><li>1987 Edison BioTechnology Center (EBTC) </li></ul><ul><li>2001 Moved HQS to Columbus </li></ul><ul><li>2002 Omeris </li></ul><ul><li>2007 BioOhio </li></ul>
    7. 8. What is Bioscience? <ul><ul><li>… a broad sector, including: </li></ul></ul><ul><ul><li>Pharmaceuticals </li></ul></ul><ul><ul><li>Genomics </li></ul></ul><ul><ul><li>Diagnostics </li></ul></ul><ul><ul><li>Medical devices & equipment </li></ul></ul><ul><ul><li>Bioinformatics </li></ul></ul><ul><ul><li>Biomedical imaging </li></ul></ul><ul><ul><li>Biomaterials </li></ul></ul><ul><ul><li>Clinical Research Organizations </li></ul></ul><ul><ul><li>Environmental </li></ul></ul><ul><ul><li>Regenerative medicine </li></ul></ul><ul><ul><li>Research and development & Testing Labs </li></ul></ul><ul><ul><li>Agricultural bioproducts </li></ul></ul><ul><ul><li>Healthcare Informatics </li></ul></ul><ul><ul><li>Nutraceutical/Food </li></ul></ul>
    8. 9. Bioscience Subsectors Agricultural Feedstock & Chemicals <ul><li>Agricultural processing </li></ul><ul><li>Basic organic chemicals </li></ul><ul><li>Ethyl alcohol mfg. </li></ul><ul><li>Organic fiber mfg. </li></ul><ul><li>Fertilizers </li></ul><ul><li>Pesticides and other agricultural chemicals </li></ul><ul><li>Medicinal & botanicals </li></ul><ul><li>Pharma- ceutical preparations </li></ul><ul><li>Diagnostic substances </li></ul><ul><li>Biological products </li></ul>Drugs & Pharmaceuticals Medical Devices & Equipment <ul><li>Laboratory apparatus & furniture </li></ul><ul><li>Surgical, medical, dental, ophthalmic & analytical instruments & equipment </li></ul><ul><li>Irradiation apparatus & electromedical equipment </li></ul>Hospitals <ul><li>Specialty hospitals </li></ul><ul><li>University medical research hospitals </li></ul><ul><li>Clinical research institutions </li></ul><ul><li>Healthcare IT </li></ul>Research, Testing, & Medical Laboratories <ul><li>Biological research </li></ul><ul><li>Commercial medical research </li></ul><ul><li>Testing laboratories </li></ul><ul><li>Medical laboratories & diagnostic imaging centers </li></ul>Product-Oriented Service -Oriented
    9. 10. Ohio, more than you know… <ul><li>7th largest state with 11.5 million people </li></ul><ul><li>In the top 10 nationally for Biotechnology Industry strength </li></ul><ul><li>Within 1 day drive of 61% of USA, 50% Canada </li></ul><ul><li>Highly educated workforce </li></ul><ul><li>> 150 colleges and universities </li></ul>
    10. 11. Ohio. More than you know… <ul><li>7th largest state with 11.5 million people </li></ul><ul><li>In the top 10 nationally for Biotechnology Industry strength </li></ul><ul><li>Within 1 day drive of 61% of USA, 50% Canada </li></ul><ul><li>Highly educated workforce </li></ul><ul><li>> 150 colleges and universities </li></ul>
    11. 17. Bioscience companies and organizations can be found in 73 of Ohio’s 88 counties! Source: The Ohio Bioscience Resource Directory, May 5, 2010. It’s not just the 3 C’s, Bio in Ohio is statewide!
    12. 19. Large Ohio Bioscience Companies <ul><li>Procter & Gamble Pharmaceuticals </li></ul><ul><li> </li></ul><ul><li>Ethicon Endo-Surgery (J&J) </li></ul><ul><ul><li> </li></ul></ul><ul><li>Cardinal Health </li></ul><ul><ul><li> </li></ul></ul><ul><li>Battelle Memorial Institute </li></ul><ul><li> </li></ul><ul><li>STERIS </li></ul><ul><ul><li> </li></ul></ul><ul><li>Philips Medical Systems </li></ul><ul><ul><li> </li></ul></ul><ul><li>Abbott Nutrition (Ross Laboratories) </li></ul><ul><li> </li></ul><ul><li>Chemical Abstracts </li></ul><ul><ul><li> </li></ul></ul><ul><li>Mettler-Toledo </li></ul><ul><ul><li> </li></ul></ul><ul><li>Invacare </li></ul><ul><ul><li> </li></ul></ul>… and lots of emerging and mid sized companies
    13. 21. 3 cities in the top 40 Biotech locations in USA In the top 10 nationally for Biotechnology Industry strength All three cities rank higher than the 100 city average in Research grant awards in Bio- Sciences $769 Million in NIH Awards in 2009! State City Rank OH Cleveland-Akron 20 Columbus 22 Cincinnati 28
    14. 24. Total Bioscience Funding 2004-2009 >$9 Billion   2009 2008 2007 2006 2005 2004   Funding In $Millions   VC/Angels 96 $189 $296 $114 $98 $91 IPO 0 $0 $188 $12 $49 $0 SBIR/STTR* 24 $21 $19 $27 $29 $22 State Biomedical Partnerships (Third Frontier) 40 $98 $135 $155 $75 $51 Matching Corporate Funds for Biomedical Partnerships 47 $105 $92 $273 $112 $111 NSF Bioscience Grants 24 $13 $12 $10 $15 $36 NIH Institutional Grants 769 $637 $698 $689 $725 $695 Other Healthcare Equity Financing $0 $0 $13 $0 $112 $12 Acquisitions 59 $473 $1,089 $75 $279 $0 Total Bioscience Funding $1,059 $1,536 $2,542 $1,355 $1,494 $1,018
    15. 46. Top Employers
    16. 47. Top Employers
    17. 48. Top Employers
    18. 49. NAICS The North American Industry Classification System
    19. 50. Ohio is ranked 8 th nationally in total patents issued and has more than every country in the world except for Japan, Germany, and the UK
    20. 51. Fantastic Hospitals <ul><li>12 of US News & World Report’s top 214 hospitals & medical centers are in Ohio </li></ul><ul><ul><li>Cleveland Clinic, 4 th best hospital in the nation and Top Heart Center in the country for 16 straight years! </li></ul></ul><ul><ul><li>Rainbow Babies Children’s Hospital (Cleveland) 3 rd in Neonatal Care </li></ul></ul><ul><ul><li>Cincinnati Children’s Hospital Medical Center #1 in Gastroenterology </li></ul></ul><ul><ul><li>4 pediatric hospitals ranked in the Top 25 </li></ul></ul><ul><ul><li>4 top 50 Diabetes & Endocrinology Centers </li></ul></ul><ul><ul><li>4 top 50 Pulmonology centers </li></ul></ul><ul><ul><li>3 top 50 Orthopedic centers and 3 top 50 adult cancer centers </li></ul></ul><ul><li>Child Magazine ranked Nationwide Children’s Hospital (Columbus) as the #1 facility for pediatric emergency care in 2007 </li></ul><ul><li>Thomson Reuters National Top 100, which measures hospital reliability, ranked 8 Ohio hospitals in 2009. Ohio has the most ranked facilities in the nation in this publication - 70 ranked hospitals from 2004-2009! </li></ul>
    21. 53. 17% of all clinical trials in the US are conducted in Ohio
    22. 54. 17% of all clinical trials in the US are conducted in Ohio Source:, data 2/19/2010
    23. 55. <ul><li>Now 86 Ohio Health Care Venture Funds…More than 100 have invested into Ohio bioscience companies </li></ul><ul><li>Adena Ventures </li></ul><ul><li>Akron ArchAngels Network </li></ul><ul><li>Alpha Capital Partners </li></ul><ul><li>Arboretum Ventures </li></ul><ul><li>Athenian Ventures </li></ul><ul><li>Battelle Ventures </li></ul><ul><li>Blue Chip Venture Company </li></ul><ul><li>Blue Point Capital </li></ul><ul><li>Bridge Investment Fund </li></ul><ul><li>Case Technology Ventures </li></ul><ul><li>Charter Life Sciences </li></ul><ul><li>Chrysalis Ventures </li></ul><ul><li>CID Equity Partners </li></ul><ul><li>Cincinnati Children's Tomorrow Fund </li></ul><ul><li>CincyTech Ventures </li></ul><ul><li>Cleveland Clinic Innovations </li></ul><ul><li>Core Network </li></ul><ul><li>Draper Triangle Ventures </li></ul><ul><li>Early Stage Partners </li></ul><ul><li>Edgewater Capital </li></ul><ul><li>Entrepreneurs “E” Fund </li></ul><ul><li>Everett Partners </li></ul><ul><li>Fletecher Spaght </li></ul><ul><li>Fort Washington Capital </li></ul><ul><li>Foundation Medical Partners </li></ul><ul><li>Frantz Medical Ventures </li></ul><ul><li>Glengary Ventures </li></ul><ul><li>GLIDE Fund </li></ul><ul><li>iNetwork BioOpportunity </li></ul><ul><li>Innovation Fund of LCCC </li></ul><ul><li>Isabella Capital </li></ul><ul><li>JumpStart </li></ul><ul><li>Kadima Partners </li></ul><ul><li>Miami Valley Ventures </li></ul><ul><li>Morgenthaler Ventures </li></ul><ul><li>Mutual Capital </li></ul><ul><li>NCIC Capital </li></ul><ul><li>NCT Ventures </li></ul><ul><li>North Coast Angels </li></ul><ul><li>Oakwood Medical </li></ul><ul><li>Ohio Tech Angels I, II & III </li></ul><ul><li>Portal Capital </li></ul><ul><li>Primus Capital </li></ul><ul><li>Queen City Angels </li></ul><ul><li>Radius Ventures </li></ul><ul><li>Redwood Holdings </li></ul><ul><li>Reservoir Ventures </li></ul><ul><li>River Cities Capital Funds </li></ul><ul><li>Riverside Capital </li></ul><ul><li>Rivervest Capital </li></ul><ul><li>Soin International </li></ul><ul><li>RMS Investments </li></ul><ul><li>Rocket Ventures </li></ul><ul><li>Southern Ohio Creates Capital </li></ul><ul><li>Summit Health Ventures </li></ul><ul><li>Sycamore Partners </li></ul><ul><li>Talisman Capital </li></ul><ul><li>TechColumbus TechGenesis </li></ul><ul><li>TechColumbus RCF </li></ul><ul><li>Teton Capital </li></ul><ul><li>Triathlon Medical Ventures </li></ul>
    24. 59. Business Climate Improved <ul><li>Jobs and Progress Plan </li></ul><ul><li>10-year, $5 billion investment in Ohio’s highways </li></ul><ul><li>Tax Reform </li></ul><ul><ul><li>21 percent income tax reduction </li></ul></ul><ul><ul><li>Eliminating property taxes on investments in machinery and equipment </li></ul></ul><ul><ul><li>No business tax on products exported out of Ohio </li></ul></ul><ul><ul><li>First $1 million of gross receipts tax-free </li></ul></ul><ul><li>Lawsuit Reform </li></ul><ul><li>Third Frontier $1.6 billion </li></ul><ul><li>Ohio’s Bipartisan Jobs Stimulus Plan $1.57 billion </li></ul><ul><ul><li>($100 million, $50 million, $250 million) </li></ul></ul>
    25. 60. Tax Reform
    26. 61. <ul><li>Cardiovascular </li></ul><ul><li>BioPharma </li></ul><ul><li>BioPolymers </li></ul><ul><li>Biomedical Imaging </li></ul><ul><li>AgBio </li></ul>
    27. 62. Ohio is ranked in the top 10 in biotechnology strength by Business Facilities magazine.
    28. 63. Ohio – National Top 10 AdvaMed
    29. 64. Ohio claims its 4th consecutive Governor's Cup, 2006-09, for the most new or expanded capital projects, thanks to the Strickland Administration's focus on taking steps necessary to be competitive, even in a challenging economic environment
    30. 65. BioOhio’s Balanced Strategy industry growth, resource optimization, community building Company & Capital Formation Company Attraction & Expansion Member / Trade Association Industry Function Bioscience Workforce & Education
    31. 66. BioOhio Statewide Board <ul><li>Lisa Ashby, SVP/GM, Scientific Products, Healthcare Supply Chain Services, Cardinal Health </li></ul><ul><li>John A Bantle, II , PhD, Vice President, Research & Graduate Studies, Wright State University </li></ul><ul><li>Timothy G. Biro , Managing Partner, Ohio Innovation Fund I, LP </li></ul><ul><li>Greg Blackmore, CEO, Midmark </li></ul><ul><li>Rathindra Bose, PhD, Vice President for Research & Creative Activity - Ohio University </li></ul><ul><li>Mark A. Collar , Chairman - Third Frontier Advisory Board / Partner, Triathlon Medical Ventures </li></ul><ul><li>Sandra J. Degen , PhD, Vice President for Research - University of Cincinnati </li></ul><ul><li>Anthony J. Dennis, PhD, President & CEO – BioOhio </li></ul><ul><li>Kevin Driscoll, PhD , Exec Director, Global Health Care Connect & Develop-Procter & Gamble </li></ul><ul><li>Brian Duncan, MD, Arboretum Ventures </li></ul><ul><li>John (Jack) Fisher, Executive Vice President - Ohio Farm Bureau Federation </li></ul><ul><li>Mike Hooven , President & CEO - Enable Medical Technologies </li></ul><ul><li>Peter G. Kleinhenz , Chairman Managing Director – CID Capital & Fletcher Spaght </li></ul><ul><li>Barbara Kunz, President - Health & Life Science Global Division, Battelle </li></ul><ul><li>John M. Rice , PhD, Managing Partner - Triathlon Medical Ventures </li></ul><ul><li>David R. Scholl , PhD, President & CEO - Diagnostic Hybrids now Quidel </li></ul><ul><li>Arnold W. Strauss, MD, Director - Cincinnati Children’s Research Foundation </li></ul><ul><li>Caroline Whitacre, PhD, Senior VP for Research - The Ohio State University </li></ul>
    32. 67. By-The-Numbers, then & now Year 1991 2001 2008 – Today Number of Ohio bio entities 170 352 1,253 (2009, 3.6X ‘01 ) University R&D expenditures $285 million $481 million $1.1 billion (2.3X ‘01) New Company starts ≈ 12 12 80 per year 2004-09 (6.6X ‘01) Private capital raised for new starts Unknown $14 million $96 million in 2009 (6.8X ’01) Bioscience Capital sources (in State) 4 8 86 in 2010 (10.7X ‘01) BioOhio (EBTC) membership 52 86 383 in 2010 (4.4X ‘01)
    33. 68. Member Organization/ Trade Association / Bioscience “Chamber” <ul><li>Marketing Ohio’s Collaboration & Partnership Opportunities </li></ul><ul><ul><ul><li>New Website launched July 2008 / Expanded Directory July 2009 </li></ul></ul></ul><ul><ul><ul><li> </li></ul></ul></ul><ul><ul><ul><li>Trade Missions (Japan, Taiwan, China, USA, Germany, Israel) </li></ul></ul></ul><ul><ul><ul><li>Various Publications </li></ul></ul></ul><ul><ul><ul><li>LinkedIn </li></ul></ul></ul><ul><ul><ul><li>News Ticker, Webinars, Newsletters and much more </li></ul></ul></ul><ul><li>Advocacy ( National & Ohio) </li></ul><ul><ul><ul><li>BIO, PhRMA, AdvaMed </li></ul></ul></ul><ul><ul><ul><li>SBIR Legislation, Patent Reform </li></ul></ul></ul><ul><ul><ul><li>Drug Pricing and importation, Biosimilars </li></ul></ul></ul><ul><ul><ul><li>Device Tax </li></ul></ul></ul><ul><ul><ul><li>Stem cell research / Human Cloning </li></ul></ul></ul><ul><ul><ul><li>Bioscience workforce training </li></ul></ul></ul><ul><ul><ul><li>Third Frontier funding strategies </li></ul></ul></ul><ul><li>Networking </li></ul><ul><ul><ul><li>BioOhio, statewide and regional events </li></ul></ul></ul><ul><ul><ul><li>Career Fairs </li></ul></ul></ul><ul><ul><ul><li>AgBio events </li></ul></ul></ul><ul><ul><ul><li>National BIO, PhRMA events </li></ul></ul></ul><ul><ul><ul><li>Regional Affiliate events </li></ul></ul></ul>
    34. 69. Ohio Bioscience Growth Report 2009 Accelerating Excellence Magazine
    35. 70. Company & Capital Formation <ul><ul><li> </li></ul></ul>
    36. 71. What do our Incubators / Accelerators do? <ul><li>Collaborations with universities, established companies, and start-up companies; national and international collaborations </li></ul><ul><li>Business development to help established and startup companies make contacts and pursue success </li></ul><ul><li>Management support for startup companies, “portable executives,” “entrepreneurs in residence” until the company operates on its own </li></ul><ul><li>Professional Services referrals to attorneys, accountants, regulatory expertise and others who understand the technology, the startup company environment, international business </li></ul><ul><li>Access to Capital helping startups find investors, and helping investors find companies to invest in </li></ul>
    37. 72. Workforce & Education <ul><li>Community College Partnerships . Coordinating the efforts of Ohio’s 2 year colleges to provide comprehensive programs in support of bioscience industry expansion (e.g. introduction of manufacturing content) </li></ul><ul><li>Blue Ribbon Panel. Invited participant on national 50-member NSF panel to set standards for education bio-technicians. Report published August 2008; </li></ul><ul><li>Career Fairs. Since 2006 held annual and regional Ohio Bioscience Career Fairs </li></ul><ul><li>Job awareness & Community Outreach. Entered into partnership with the Society for Manufacturing Engineers Educational Foundation to address improving bio-manufacturing image </li></ul><ul><li>$5 million Department of Labor Grant to BioOhio, workforce training grant targets Ohio’s displaced workers to implement the Ohio Bioscience Industry Workforce Preparedness project for 660 displaced workers. 6 Community Colleges: Cuyahoga, Cincinnati State, Columbus State, Owens, Lakeland and Sinclair. </li></ul>
    38. 73. Bioscience Jobs <ul><li>Research & Testing 20,565 companies </li></ul><ul><li>Medical Devices 15,190 companies </li></ul><ul><li>Drugs & Pharmaceuticals 2,589 companies </li></ul><ul><li>Ag Feedstock & Chemicals 2,111 companies </li></ul>Distribution of Bioscience Employment by Subsector Source: Battelle calculations based on Bureau of Labor Statistics, QCEW program data from the Minnesota Implan Group. Data include Puerto Rico. Agricultural Feedstock & Chemicals Drugs & Pharmaceuticals Medical Devices & Equipment Research, Testing, & Medical Laboratories
    39. 74. Bioscience Wage Trends <ul><li>The biosciences offer high-paying, quality jobs across a range of occupations </li></ul><ul><li>Bioscience workers earn $26,772 more than the average U.S. private sector wage, with all four subsectors above the national average </li></ul><ul><li>Since 2001, real (inflation-adjusted) earnings are up 6.4% for bioscience workers, compared to just a 1.4% increase for private sector </li></ul>
    40. 75. Attraction & Expansion <ul><li>52 new companies attracted to Ohio April 2007-June 2010 </li></ul><ul><li>1,984 jobs created or retained </li></ul><ul><li>Regional Partners – more than 50 </li></ul><ul><ul><li>Quarterly phone calls and e-mail updates </li></ul></ul><ul><li>Global Cardiovascular Innovation Center (GCIC) </li></ul><ul><ul><li>Strong Partnership </li></ul></ul><ul><ul><li>Supply Chain directory is outstanding </li></ul></ul><ul><li>Expansions </li></ul><ul><ul><li>Site Selection Magazine “Governor’s Cup” 4 years in a row </li></ul></ul><ul><ul><li>Area Development Magazine Silver Shovel Award </li></ul></ul><ul><ul><li>179 Bioscience expansions or new facilities 2006-09 </li></ul></ul><ul><li>OBDC Ohio Sales Partnership </li></ul><ul><li>Israel, Taiwan, Finland, Ireland, Hungary, China, Germany, India </li></ul>
    41. 76. AgBio <ul><li>Ohio is home to the world’s largest soup factory (Campbell’s) </li></ul><ul><li>Ohio is home to the world’s largest ketchup factory (Heinz) </li></ul><ul><li>Ohio is home to the world’s largest pizza plant (Pillsbury) </li></ul><ul><li>Ohio is home to the world’s largest yogurt plant (Dannon) </li></ul><ul><li>Ohio is home to the country’s largest fructose plant (Cargill) </li></ul><ul><li>More Swiss cheese is produced in Ohio than in Wisconsin </li></ul><ul><li>Center for Innovative Food Technology </li></ul><ul><li>935 food processing facilities </li></ul><ul><li>Ohio Agricultural Research & Development Center </li></ul>
    42. 77. Ohio’s Agricultural Output $79.6 Billion Ohio’s Chemicals, Plastics, Rubber Materials Output $49 Billion Ohio BioProducts Innovation Center                        
    43. 78. Ohio BioProducts Innovation Center Bio-Polymers and Bio-Product System Solutions Bio-Derived Feedstocks Monomers and Resins <ul><li>Soybean Oils </li></ul><ul><li>Next Gen Soybean Oils </li></ul><ul><li>Soy Proteins </li></ul><ul><li>Corn based carbohydrates/sugars </li></ul><ul><li>Polyacids </li></ul><ul><li>Polyols </li></ul><ul><li>Monomers </li></ul><ul><li>Oligomers and Resins </li></ul><ul><li>Specialty Compounds </li></ul><ul><li>Coatings, Binders, Toners </li></ul><ul><li>Adhesives and Sealants </li></ul><ul><li>Composites </li></ul><ul><li>Solvents, Plasticizers </li></ul><ul><li>Lubricants </li></ul><ul><li>Surfactants, Cleaners </li></ul><ul><li>Fertilizer Systems </li></ul>
    44. 79. Technology Innovation Cycle ADVANCED RESEARCH (8-15 years) PRODUCT CYCLE (1-3 years) BREAKTHROUGH (5-8 years) v: Discovery Development Application Product Development Involves the “Application” of Technology t e r C r o s s I n d u s t r y S o u r c e s F e d e r a l R e s e a r c h C o l l a b o r a t i v e R e s e a r c h R e s e a r c h U n i v e r s i t i e s G l o b a l S o u r c i n g C o r p o r a t e L a b s I n t e r n a t i o n a l S o u r c e s I n t e g r a t i o n S e n s e & L o c a t e G a p A s s e s s m e n t A s s e s s P r o d u c t P l a t f o r m P r o d u c C u s t o m D r i v e s U n m e t N e e d s Develop
    45. 80. Medical Device Commercialization Pathway Concept Development and Initial Research Company Formation / Project Team Secure IP Portfolio Product Engineering and Prototype Development Pre-Clinical and Clinical Studies Manufacturing Development/ expansion for clinical trials Clinical Trials/Outcomes FDA Approval and Market Launch Expansion/ Investment in Working Capital $ A B
    46. 81. Typical Product Development Process Source: PTRM
    47. 82. Critical Success Factors <ul><li>Differentiated, superior product/technology </li></ul><ul><li>Sharp, early product definition </li></ul><ul><li>Quality of pre-development activities </li></ul><ul><li>Strong market orientation </li></ul><ul><li>Reduced cost / drives revenue </li></ul><ul><li>Customers willing to pay $ </li></ul><ul><li>Effective organizational structure </li></ul><ul><li>Engaged Partners </li></ul><ul><li>Quality of execution </li></ul><ul><ul><li>Technical, Business </li></ul></ul>
    48. 83. Sources of Capital <ul><li>Bootstrapping </li></ul><ul><ul><li>Who will benefit from your success? </li></ul></ul><ul><li>FF&F </li></ul><ul><ul><li>Find enthusiastic supporters in your personal network </li></ul></ul><ul><ul><li>Put your own money in (investors want to see this commitment) </li></ul></ul><ul><li>Angels </li></ul><ul><ul><li>Looking to make money, but also hope to get involved and add value </li></ul></ul><ul><li>Grants </li></ul><ul><ul><li>Lots of free and cheap money out there </li></ul></ul><ul><li>Venture / Private Equity </li></ul><ul><ul><li>Care about making a return on investment </li></ul></ul><ul><ul><li>Often do not have time or ambition to get to involved </li></ul></ul><ul><li>SBA / Banks </li></ul><ul><ul><li>Always take debt before equity, but often difficult as they require security (receivables, assets…) </li></ul></ul>
    49. 84. Pitching <ul><li>10 slides, 20 minutes, 30 Point font </li></ul><ul><li>Differentiate for different audiences </li></ul><ul><li>Investor </li></ul><ul><li>Sales Prospect </li></ul><ul><li>Partner Prospect </li></ul><ul><li>B to B </li></ul><ul><li>Problem </li></ul><ul><li>Solution </li></ul><ul><li>Business Model </li></ul><ul><li>Your Magic </li></ul><ul><li>Mktg/Sales </li></ul><ul><li>Competition </li></ul><ul><li>Mgmt Team </li></ul><ul><li>Financial Projections </li></ul><ul><li>Current Status – The Ask </li></ul>
    50. 85. Medical Product Development each step has defined Work Processes
    51. 86. Let me know how we can help you! John F. Lewis Jr. Vice President [email_address] 614-675-3686 x7 An Ohio Thomas Edison Center