Building a Pitch

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Speaker: Mike Polonsky

"Hey buddy, can you spare a $100 million?"
or
How to convince successful financiers to give you millions of dollars in a project doomed to fail!

Part of the CIBC Presents Entrepreneurship 101 lecture series. For more information, including video of the session, please visit: http://www.marsdd.com/Events/Event-Calendar/Ent101/2009/building-a-pitch-04152009.html

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Building a Pitch

  1. 1. hey buddy, can you spare a $100 million? or how to convince successful financiers to give you millions of dollars in a project doomed to fail! Michael Polonsky April 15th, 2009
  2. 2. I love love love entrepreneurs innovation canada
  3. 3. General Petraeus on powerpoint quot;It's how you communicate big ideas - to communicate them effectively.quot;
  4. 4. ? what is a presentation
  5. 5. general specific
  6. 6. The closest cousin to a power point slide is a billboard!
  7. 7. But you’ve got a lot to say … 350 employees logo VC shareholders 75 key accounts Track record Website Business plan Chief financial officer Audited statements Momentum Strengths Something big coming Overcome obstacles Opportunities Media coverage 95,000 square feet Expert board Revenue model 8 products Awards Acquisitions Competitive advantages Growth strategy Nice boardroom Mission Organizational chart Technology Vision Money in the bank Intellectual property Values Features and benefits 7 years of hard won memories
  8. 8. leave an impression
  9. 9. how do you encourage someone to give you $10M in 45 minutes? On June 4 1940, Winston Churchill delivered a 45 minute speech, commonly known as “We shall fight on the beaches”, to the House of Commons of the British Parliament. It was a great inspiration to an embattled United Kingdom as it entered what was probably the most vulnerable phase of the entire war. Public opinion for the war effort was waning in the face of devastating losses and a formidable enemy. Churchill encouraged a country to keep fighting in 45 minutes.
  10. 10. general specific
  11. 11. tip (not rule) no. 1 keep it high level don’t DROWN in DETAIL keep it clean
  12. 12. ? what is a presentation
  13. 13. You got 45 minutes: on you mark, get set, go … 350 employees logo VC shareholders 75 key accounts Track record Website Business plan Chief financial officer Audited statements Momentum Strengths Something big coming Overcome obstacles Opportunities Media coverage 95,000 square feet Expert board Revenue model 8 products Awards Acquisitions Competitive advantages Growth strategy Nice boardroom Mission Organizational chart Technology Vision Money in the bank Intellectual property Values Features and benefits 7 years of hard won memories
  14. 14. You actually only get 23 minutes.
  15. 15. Marathon 100 metres
  16. 16. huh aha NOW! (rapid transfer)
  17. 17. points NOT all are created equal
  18. 18. All points are equal •  Interesting point but not really relevant •  Uninteresting point but relevant •  Major, earth shattering, earth quaking point •  Interesting corollary perspective •  Necessary background point •  Interesting-but-dude-is-now-sleeping point •  Because-I-love-the-sound-of-my-voice point
  19. 19. The point additional support Big big big additional support support additional support
  20. 20. The point Big big additional support big support additional support Underlying takeaway message
  21. 21. The point A B C Underlying takeaway message
  22. 22. The point A B C 1 2 3 Underlying takeaway message
  23. 23. / 1 3 of all new products The future of medicine 25
  24. 24. Outlook: Revenue growth of 10 to15 percent in fiscal 2008 26
  25. 25. Cangene is fully integrated   Develop from concept to commercialization   Manufacture process sensitive biopharmaceuticals   Sell niche marketing team for biodefense products and commercial partnerships
  26. 26. Strong preclinical franchise 28 Top 10 Preclinical CRO worldwide 400+ Active clients A fast growing, 90% highly profitable Retention rate CRO 8 of 10 Largest pharma as clients
  27. 27. Molybdenum 12B * Strengthens steel $ annual market Anti-corrosive agent Chemical catalyst 29 MERCATOR MINERALS LTD. *Add note here
  28. 28. tip (not rule) no. 2 think about emphasis think about scale GRID it to GREAT think about priorities
  29. 29. maps pictures diagrams Not words illustrations
  30. 30. ? what is a presentation
  31. 31. •  afj;psldk •  afj;psldk •  afj;psldk •  afj;psldk •  afj;psldk •  afj;psldk •  aslkdflfk •  aslkdflfk •  aslkdflfk •  aslkdflfk •  aslkdflfk •  aslkdflfk •  asljkfhf •  asljkfhf •  asljkfhf •  asljkfhf •  asljkfhf •  asljkfhf •  afj;psldk •  afj;psldk •  afj;psldk •  afj;psldk •  afj;psldk •  afj;psldk •  aslkdflfk •  aslkdflfk •  aslkdflfk •  aslkdflfk •  aslkdflfk •  aslkdflfk •  asljkfhf •  asljkfhf •  asljkfhf •  asljkfhf •  asljkfhf •  asljkfhf •  afj;psldk •  afj;psldk •  afj;psldk •  afj;psldk •  afj;psldk •  afj;psldk •  aslkdflfk •  aslkdflfk •  aslkdflfk •  aslkdflfk •  aslkdflfk •  aslkdflfk •  asljkfhf •  asljkfhf •  asljkfhf •  asljkfhf •  asljkfhf •  asljkfhf •  afj;psldk •  afj;psldk •  afj;psldk •  afj;psldk •  afj;psldk •  afj;psldk •  aslkdflfk •  aslkdflfk •  aslkdflfk •  aslkdflfk •  aslkdflfk •  aslkdflfk •  asljkfhf •  asljkfhf •  asljkfhf •  asljkfhf •  asljkfhf •  asljkfhf •  afj;psldk •  afj;psldk •  afj;psldk •  afj;psldk •  afj;psldk •  afj;psldk •  aslkdflfk •  aslkdflfk •  aslkdflfk •  aslkdflfk •  aslkdflfk •  aslkdflfk •  asljkfhf •  asljkfhf •  asljkfhf •  asljkfhf •  asljkfhf •  asljkfhf 20-30 slides
  32. 32. the great ones are more than a series of slides
  33. 33. power of a narrative
  34. 34. ? what is a presentation 1 story
  35. 35. which came first?
  36. 36. hunger no hunger … no plot … no one cares
  37. 37. Coronary Heart Disease one Number 20% killer! of all deaths
  38. 38. BREAKING THROUGH Wet AMD
  39. 39. Insulin Meeting the Emerging Exploding Demand
  40. 40. What if there wasn’t enough insulin?
  41. 41. What if there wasn’t enough insulin? There isn’t.
  42. 42. 50% of potential wind energy is lost 44 59.3% Maximum theoretical efficiency (Betz limit) 25 - 30% Actual efficiency 0
  43. 43. Because the wind is always shifting, turbines are almost always misaligned… 45 45 Optimal alignment Actual misalignment in operation LOST EFFICIENCY energy produced energy produced wind Yaw
  44. 44. …and because the wind is always gusting, the blades are almost always mis-pitched 46 Optimal pitch Actual mis-pitch in operation LOST MORE ENERGY EFFICIENCY LOST ENERGY CAPTURED energy produced energy produced
  45. 45. value proposition Solution to hunger
  46. 46. Neuradiab Survival Data Clinically compelling difference 42 % 91 Surgery + Radiation + Temozolomide + Neuradiab weeks 64 2005 Surgery + Radiation + Temozolomide weeks 1980 53 Surgery + Radiation to weeks 2004 0 15 30 45 60 75 90 105 Survival in weeks 48
  47. 47. CRD5 Rapidly Increases HDL % increase in HDL CRD5 Niacin - ER Levels still rising Poorly tolerated Non-optimized Low market share formulation Healthy volunteers Crestor (Statin)
  48. 48. Expanding Clinical Benefit Frontline Watchful waiting OvaRex® MAb extends time to relapse 13 months Tumor Relapse Burden diagnosed CA 125 Level Initiate OvaRex® MAb therapy Months 0 6 16 30 Surgery No drugs approved chemo OvaRex MAb 10 (Source: OGY 07)
  49. 49. complete responses four doses of Proxinium™ complete tumor response 25% complete responses
  50. 50. FunctionFIRST™ yields results Five A pipeline of 500 lead candidates antibodies 52 52
  51. 51. We can make wind energy production more efficient! 53 Possible efficiency Improvement with our Actual technology! efficiency 0
  52. 52. greedno one invests in hyper growth stories to double their money you have to show them the 10 bagger - Michael Denny
  53. 53. ISA247 Psoriasis Opportunity if at $5,000 = $692,500,000 25% per treatment cycle if at $10,000 = $1,385,000,000 market share per treatment cycle ISA247: 554,000 Established safety and patients treated with oral immunosuppressants in the U.S. efficacy 55 Source: Datamonitor
  54. 54. World’s Largest Drug Market Top 3 drug categories $30.2B 5 drugs over $25.5B $ 1billion+ $23.8B Cytostactics Cholesterol Antiulcerants (Cancer) triglyceride (GI tract) reducers
  55. 55. Our potential 57 + Wind turbine opportunity Expanded operating envelope Reduced downtime Improved speed control $11 Reduced wear   Met tower replacement Pitch benefit Yaw benefit Billion   Airports   Yacht/sailboats   Forest fire fighting   National wind map
  56. 56. $8B Spent annually in North America expanding replacing current infrastructure Resin Systems 58
  57. 57. need expressed: hunger need addressed: value proposition market opportunity: greed
  58. 58. tip (not rule) no. 3 don’t come up flat think about structure
  59. 59. brevity patterns stories Not blind faith emotion
  60. 60. Complexity/quantity Time constraints Durable goals right information rapidly transferred High impact/recall grid it to great don’t come up flat don’t drown in detail
  61. 61. the distilled not right information messages everything maps pictures diagrams not rapidly transferred illustrations words brevity patterns with stories not high recall emotion blind faith
  62. 62. don’t forget milestones request for cash current shareholders financings to date IP
  63. 63. Milestones SPY System Q3 2005 Q4 2005 Q1 2006 U.S. sales partner X Installed in 25 U.S. hospitals X Initiate studies for expanded indications X OPTTX System Initiate North American multi-centre trial X Initiate combo trial with multi-national partner X File for Canadian and European approval X
  64. 64. Exendin-4 Albumin Conjugate: Next Steps (PC-DAC™:Exendin-4) One month multi-dose Phase I/II trial
  65. 65. Investment Opportunity Seeking –  Launching commercial platform $15million –  Expanding content partnerships in financing –  Developing to drive the molecular tests business –  Scaling quality forward manufacturing
  66. 66. recommended reading made to stick brain rules slideology
  67. 67. closing thoughts
  68. 68. evidence evidence evidence
  69. 69. be authentic! STOP TALK …transacts! generating the bullshit like a person earned attributes
  70. 70. how do you get to Carnegie Hall?
  71. 71. speed dating show a little leg … … move on
  72. 72. dilution 100% Think big!!! of zero is zero
  73. 73. thank you

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