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The life science_innovation_roadmap%5b1%5d

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How to get your life science idea to patients

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The life science_innovation_roadmap%5b1%5d

  1. 1. Arlen D Meyers, MD, MBA University of Colorado School of Medicine CEO, Society of Physician Entrepreneurs
  2. 2. Biomedical and Health Innovation Health Digital Health Care delivery platforms Business process innovation Biomedical Drugs Devices Diagnostics Vaccines Combined products
  3. 3. Why is bioscience different? IP issues Regulatory hurdles High risk Long time to market Clinical trial issues Reimbursement issues Changing business models Third party payer issues: Who is the customer?
  4. 4. Bioentrepreneurship The pursuit of biomedical and health commercial opportunity Goal is to create customer/user/patient defined value By deploying biomedical and health product, process, systems and service innovation With uncontrolled resources
  5. 5. Foundations Intellectual Property Protection Regulatory Affairs and Reimbursement Plan Team Business Opportunity Solution with sustainable competitive advantage Business model
  6. 6. 3 Phases: SOPE Phase 1: Scoping the opportunity (SO) Opportunity spotting Idea generation High level Opportunity assessment Phase 2: Planning, vetting, feasibility, validating (P) Feasibility Analysis Validation and testing Commercialzation Strategy Phase 3: Executing (E)
  7. 7. Life Science Innovation Roadmap
  8. 8. The Capital “Stack” CapitalValue Advisors, LLC is a registered broker/dealer and member of the Financial Industry Regulatory Authority (FINRA) 8 Type of Capital Pros/Cons Senior Debt - Secured Non-dilutive, least expensive, but ties up assets – limited amount available Junior or Mezzanine Debt May be non-dilutive, more expensive, may not tie up assets Trade Credit/Credit Cards More easily available, highest interest rates, non-dilutive Preferred Equity Allows more debt, more aligned with owners, but dilutive Common Equity Completely aligned with owners, but most dilutive, possible control issues drmimi94954@gmail.com
  9. 9. Capital Sources CapitalValue Advisors, LLC is a registered broker/dealer and member of the Financial Industry Regulatory Authority (FINRA) 9 Amount Growth Buyout <$1M Friends/Family SBA High Net Worth Small Local Funds High Net Worth Small Local Funds SBA $1-3M Small PE Firms VC Firms Banks/Mezzanine Small PE Firms $3-5M PE Firms VC Firms Strategic Investors Banks/Mezzanine PE Firms Strategic Investors >$5M PE Firms VC Firms Strategic Investors Banks/Mezzanine PE Firms Strategic Investors
  10. 10. Financing Biomedical ventures Research Mostly government basic science grants Development Family, friends, fools SBIR/STTR Angels and angel networks Proof of concept awards State development awards Business plan competitions Collaborative research and development grants (CRADA) Crowdfunding sites like http://medstartr.com Accelerators like http://www.blueprinthealth.com
  11. 11. Financing Biomedical Ventures Commercialization IPO’s Strategic partnerships Corporate Venture Funds VC’s Reverse mergers/PIPE’s

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