Ομιλία – Παρουσίαση: Αχιλλέας Γραβάνης, Professor of Pharmacology, School of Medicine University of Crete Researcher IMBB-FORTH, Affiliated Research Professor, Center of Drug Discovery, Northeastern University Τίτλος Ομιλίας: «Η φυσική ιστορία μιας Ακαδημαϊκής Βιοτεχνολογικής spin off στην Ελλάδα»

1. Academic Spin off -
Partnerships with industry
The Greek Perspective
Achilleas Gravanis

2. - The blast of Biotech-Pharma outsourcing:
academia-industry partnership
- Can Greek academia participate in it?
- The experience with our spinoff, Bionature
- Some take home messages for Greek Biotech
ecosystem and academia-industry partnership
Today’s Presentation

4. ‘’The total worldwide R&D spent of pharmaceutical and biotechnology
companies increased from USD 108 billion (2006) to USD 141 billion (2015): 40-
50% of this amount, i.e. 65-70 billion invested in outsourcing’’
J Transl Med, 14:105, 2016

6. BIG PHARMAS SHORTEN THEIR ‘IN HOUSE’ RESEARCH FACILITIES

8. Can the Greek Academics be Part of the
Multinational Pharma Outsourcing?

9. 1,13% OF GREEK SCIENTIFIC,
PEER-REVIEWED PUBLICATIONS IN THE
TOP 1% SCIENTIFIC JOURNALS
1.66% HOLLAND,
1.22% SWEDEN,
1.21% GERMANY,
1.19% ΗΠΑ,
1.09% CANADA,
0.99% FRANCE,
1.10% ITALY,
0.91% IRELAND,
0.86% PORTUGAL,
0.79% POLLAND,
The Greek Scientific PARADOX

10. A POSSIBLE
EXPLANATION ?
• Participation in 1776 FP7 research grants, 780 ME from the ΕU-FP7.
• 255 ‘’Marie Curie’’ fellowships, 5,9% of the total EU-27 participation
• European Research Council (ERC): 80 Greek PI, ~ 100 ΜΕ (2,5% of the total EU-27
participation)
• The last 5 years, Greek scientists brought 1,1 bln € from European competitive
grants!!!
• These money keep Greek Science alive, in spite the national under-funding of
research (0,7% of the GDP, compared to the almost mean 2,2% of the EU.

11. FORTH & EKETA 15ο and 16ο
in the ranking of the most
successful European Research
Centers for EU-Funding
(2007-2012)
12.000 in Greece and 12.000 abroad Greek scientists!
Bioscientists represent about 1/3!
PI and faculty, NOT graduate students, or Post-Docs

12. Eurostat 2010
Patent filing (1999, 2000, 2005)
BUT … VERY FEW PATENTS!

13. Greece is ranked 20 out of 186 countries for scientific performance
BUT performs poorly in innovation.
European Innovation Scoreboard 2016
The Innovation PARADOX …

14. www.bionature.net
OUR EXPERIENCE WITH ‘BIONATURE’

15. • ‘Strangle’ to go global with strong collaborations
both for science & for funding
• Strong Science
• Mobilize talented young Greek scientists
• Partner with the professionals: academics are not
good entrepreneurs, they do need business gyus
BIONATURE’S EFFORTS

16. Shareholding Structure
Founders
(Greece)
Emergo
(Cyprus)
University of Crete
(Greece)
MNTs - INDJoint Development

17. 20
23
DHEA
27
OUR INVENTION
Synthetic 17-spiro-steroid analogs, NGF receptor agonists, MicroNeurotrophins-MNTs)
Blood-brain-barrier permeable synthetic small molecules with strong neurotrophic,
neuroprotective and neurogenic activity
BNN27
BNN27
TrkA TrkA
NGFNGF

18. NGF
Receptors
NEUROPROTECTION
(blocks neuronal apoptosis
NEUROGENESIS
(boosts neural stem cells)
NEUROINFLAMMATION
(blocks microglia activation)
MULTIDYNAMIC MICRONEUROTROPHINS

19. In vivo animal model Human Disease
Cuprizone mice
Bonetto et al, Glia 2017
Multiple Sclerosis
Demyelination
Weaver mice
Botsakis et al, Neuropharmacology 2017
Parkinson’s
STZ model of Diabetic Retinopathy,
Arias et al, Diabetes 2018
Diabetic Retinopathy
Dry Eye Syndrome!
SCI (mechanical)
Kourgiantaki/Tzeranis et al, submitted
Spinal Cord Injury
SOD1 transgene
Clajch et al, PLoS One 2016
ALS
5xFAD mice
Karali et al, in preparation
Pitsikas & Gravanis Neurobiol Learn Mem
2017
Neural Stem cells (embryonic, adult, iPS)
Pediaditakis/Kourgiantaki et al, in preparation
Alzheimer’s
Memory,
Neurogenesis
PROOF OF CONCEPT IN ANIMALS MODELS OF NEURODEGENERATION

20. MNTs – Potential Indications
• Alzheimer’s
Disease
• Parkinson’s
Disease
• ALS
• Multiple
Sclerosis
 Diabetic Retinopathy
 Retina Detachment
 Dry Eye Syndrome
 Glaucoma
Treatment and/or Prevention
Step
1
Step
2

22. TALENTED
STUDENTS
PROFESSORS
RESEARCHERS
STARTUPS
SPINOFFS
INTERNATIONAL
PHARMAS
GREEK
PHARMAS
THE ECOSYSTEM OF INNOVATIVE BIOTECH
FUNDING:
BANKS
VENTURE CAPITALS
PRIVATE INVESTORS

23. TALENTED
STUDENTS
PROFESSORS
RESEARCHERS
STARTUPS
SPINOFFS
THE ECOSYSTEM OF INNOVATIVE BIOTECH
• Greek Universities and Research Centers must change mentality: innovation and patenting
is within their responsibilities and duties, as academics. This is applicable to students too.
Comply with the international practice!
• The country misses innovation managers, knowledgeable and experienced people in R&D
processes. Academic institutions do not have and must organize bureaus of innovation,
hiring-incorporating experienced staff from the private sector
• Extroversion: international collaborations/partnerships, targeting the international market
• The Greek State must support research in the academic institutions: Meritocracy, and
Excellence in science/innovation, the two major criteria for funding.

24. TALENTED
STUDENTS
PROFESSORS
RESEARCHERS
STARTUPS
SPINOFFS
THE ECOSYSTEM OF INNOVATIVE BIOTECH
• academic startups-spinoffs need people from
the business world to “run the show”. Our
company lost lot’s of time with academics
”playing the businessmen”!!

25. INTERNATIONAL
PHARMAS
GREEK
PHARMAS
INNOVATIVE LOCAL PRODUCTS:
- Natural products (cosmetics, nutraceuticals)
- New formulations of administration,
- Repurposing
INNOVATIVE INTERNATIONAL PRODUCTS:
- Drug development, prototypes
- Bio-markers
- Bio-materials, Bio-devices
2,2 billion €
from
generic
exports
GREEK BIOSIENTISTS
highly qualified with
competitive salaries
THE ECOSYSTEM OF INNOVATIVE BIOTECH
OPPORTUNITIES

26. FUNDING:
BANKS
VENTURE CAPITALS
PRIVATE INVESTORS
THE ECOSYSTEM OF INNOVATIVE BIOTECH
• Lower taxation and bureaucracy
• Facilitate and propagate the creation
of VCs: the mediators of the
academia and industry
• Greek Diaspora must invest in the
country. The example of Israel

27. 27
Investment strategy
Targets
• 30 portfolio
companies
• At least 50%
with science-
based IP
• Successful exit
valuations at
€50M - €300M
Stages
Lead the seed stage
First tranche
≈€500k
Second: up to
€1.0m
(Total: up to €1.5m)
Follow in Series A
Up to €3.5m
(Total: up to €5.0m)
Sectors
• Software/ Data/ AI
• Hardware
• Materials
• Chemical
engineering
• Life sciences
www.bigpi.vc