Entrepreneurship 101 - Science and Business do Mix Mathieu Boudreau MaRS Lecture Series March 13, 2007 From Research to Bu...
Preface <ul><li>The objective of this presentation is to share my experience (good & bad) as it relates to my transition f...
Outline <ul><li>Background on Doctoral Studies </li></ul><ul><li>How it All Started </li></ul><ul><li>Starting-Up a Busine...
Background on Doctoral Studies <ul><li>Ph.D. at McGill – Montreal Neurological Institute </li></ul><ul><li>Supervisor: Dr....
How it All Started <ul><li>Met a group of physicists/software engineers in a coffee shop in 2000 </li></ul><ul><ul><ul><li...
<ul><li>Step 1 –  Writing a business plan (2001) </li></ul><ul><li>Learned how to write a business plan </li></ul><ul><ul>...
<ul><li>Step 2 –  Seeking seed financing (2001/2002) </li></ul><ul><li>Raised close to $2 million in seed financing (debt ...
Facing Choices <ul><li>As I was finishing up my Ph.D. I needed to make a decision as it relates to my career path....... <...
The Rise.... <ul><li>Built a team of up to 17 people </li></ul><ul><li>Signed several collaboration agreements (research &...
.... And Fall of a Start-up <ul><li>Companies ended up not agreeing on the terms of the acquisition </li></ul><ul><li>Our ...
What Would I do Differently? <ul><li>I would join an experienced/senior team from which I would learn more efficiently – G...
What Did I Learn From This? <ul><li>Having a good relationship with my supervisor was key – Dr. Kaplan was very supportive...
What Did I Learn From This? <ul><li>Make sure you understand or are advised on legal aspects – understand your personal li...
Aegera Therapeutics Inc.
Aegera Programs <ul><li>  </li></ul><ul><li>Apoptosis Inhibition for Cancer </li></ul><ul><ul><li>Molecular Target: Inhibi...
Aegera’s Focus Apoptosis Control Drugs <ul><li>Cancer </li></ul>Neuropathy & Pain <ul><li>Diabetic </li></ul><ul><li>Chemo...
Pipeline Status/Projections <ul><li>Oncology  </li></ul><ul><ul><li>AEG35156   </li></ul></ul><ul><ul><ul><li>2 nd  genera...
<ul><li>Dominant Intellectual Property Base  –  Over 100 Issued & Pending Patents/Applications </li></ul><ul><li>Five Memb...
Proprietary Targets: IAP Protein Family (IAP = “Inhibitor of Apoptosis Protein”) XIAP Expression in Pancreatic Cancer <ul>...
XIAP: A Validated Cancer Target <ul><li>Cancer cells are highly resistant to apoptosis; yet in many cases are primed for a...
Aegera Compounds Demonstrate  Neuroprotective Activity and Pain Relief   Pain Relief & RNAi suppression of HSP70 blocks cm...
Potential Therapeutic Areas Based on MOA Ischemia & Stroke (excitotoxicity)  CDT CNS Neuro Disorders  63-7 [2005] Alzheime...
Experienced Management Team Shire, Biochem Pharma, NCI (National Cancer Institute)  26 VP Clinical Jacques Jolivet, M.D. N...
Aegera Development Pipeline CANDIDATE SELECTION PHASE 1 PHASE 2 PHASE 3 AEG35156  Small Molecule IAP Antagonists Mono Smal...
Aegera Development Pipeline - 2008 CANDIDATE SELECTION PHASE 1 PHASE 2 PHASE 3 AEG35156  Small Molecule IAP Antagonists Mo...
Aegera In-Licensing Criteria <ul><li>Small molecule therapeutic addressing unmet medical needs in either oncology, periphe...
Contact: Aegera Therapeutics Inc. 810 Chemin du Golf Montreal, Quebec H3E 1A8 T: 514-288-5532; F: 514-288-9280 www.aegera....
What’s My Job Like? <ul><li>Try to find strategic partners for our programs (out-licensing/partnering) </li></ul><ul><li>S...
What’s Next <ul><li>Expand my skill set/experience in BD/Licensing </li></ul><ul><li>Continue contributing to Aegera’s gro...
Thank You!
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Entrepreneurship 101: From Research to Business Development & Licensing -- When science and business make a perfect blend

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Part of the MaRS Entrepreneurship 101 Event Series
Being able to link science and business by "speaking both languages" is a great advantage when playing a managerial role in a biotechnology company. Mathieu will be discussing how he is able to use the knowledge he acquired by combining his entrepreneurial venture experience with his training in fundamental life science.

Speaker: Mathieu Boudreau, Ph.D., Manager, Business Development, Aegera Therapeutics Inc.
Download the audio presentation and post questions on the MaRS blog:
http://blog.marsdd.com/2007/03/16/entrepreneurship-101-how-important-is-grey-hair/

Published in: Economy & Finance, Business

Entrepreneurship 101: From Research to Business Development & Licensing -- When science and business make a perfect blend

  1. 1. Entrepreneurship 101 - Science and Business do Mix Mathieu Boudreau MaRS Lecture Series March 13, 2007 From Research to Business Development & Licensing – When Science and Business Make a Perfect Blend
  2. 2. Preface <ul><li>The objective of this presentation is to share my experience (good & bad) as it relates to my transition from academic science to business: </li></ul><ul><ul><ul><li>Transitioning from the “bench” to a biotech business development/licensing career via an “unexpected & unplanned” entrepreneurship experience! </li></ul></ul></ul><ul><li>Notice: statements and conclusions in this presentation reflect personal experience - are subjective, and may not apply to everyone. </li></ul><ul><li>This presentation contains subject matter which may cause extreme pleasure and uncontrollable urges to become an entrepreneur – VIEWER DISCRETION IS ADVISED! </li></ul>
  3. 3. Outline <ul><li>Background on Doctoral Studies </li></ul><ul><li>How it All Started </li></ul><ul><li>Starting-Up a Business </li></ul><ul><li>The Rise and Fall of a Start-Up </li></ul><ul><li>What Would I Do Differently? </li></ul><ul><li>What Did I Learn from This? </li></ul><ul><li>Choosing a New Career Path </li></ul><ul><li>About Aegera Therapeutics Inc. </li></ul><ul><li>What’s my Job Like? </li></ul><ul><li>What’s Next? </li></ul>
  4. 4. Background on Doctoral Studies <ul><li>Ph.D. at McGill – Montreal Neurological Institute </li></ul><ul><li>Supervisor: Dr. David R. Kaplan </li></ul><ul><li>Thesis: The roles of Akt in the regulation of apoptosis/survival of neurons and glioblastoma cells </li></ul><ul><ul><ul><li>Negative regulation of MLK-3/JNK by Akt-dependent phosphorylation </li></ul></ul></ul><ul><ul><ul><li>Positive regulation of XIAP by Akt-dependent phosphorylation </li></ul></ul></ul><ul><li>General interests: signalling complex/scaffold dynamics </li></ul>
  5. 5. How it All Started <ul><li>Met a group of physicists/software engineers in a coffee shop in 2000 </li></ul><ul><ul><ul><li>They a had developed prototype technologies for medical imaging/computer-assisted detection (CAD). </li></ul></ul></ul><ul><ul><ul><li>Were interested in starting-up a company to develop the prototypes for medical applications in vascular diseases. </li></ul></ul></ul><ul><ul><ul><li>Needed someone who could “speak the language” and may have contacts in the medical field. </li></ul></ul></ul><ul><li>Subsequently became involved on a part-time basis (evenings and weekends) while I was still in grad school </li></ul><ul><ul><ul><li>Establishing contacts for Research collaborations </li></ul></ul></ul><ul><ul><ul><li>Writing Business Plan </li></ul></ul></ul>
  6. 6. <ul><li>Step 1 – Writing a business plan (2001) </li></ul><ul><li>Learned how to write a business plan </li></ul><ul><ul><li>Researched market and competitive environment data and established a marketing/sales plan </li></ul></ul><ul><li>Recipient of several business plan/entrepreneurship competition awards - including cash bursaries </li></ul><ul><ul><li>As a result became incubated by the HEC-poly-University of Montreal Entrepreneurship Center </li></ul></ul><ul><ul><li>The Company hired its first part time employee </li></ul></ul>How it All Started
  7. 7. <ul><li>Step 2 – Seeking seed financing (2001/2002) </li></ul><ul><li>Raised close to $2 million in seed financing (debt and grants) </li></ul><ul><ul><ul><li>Built a small team </li></ul></ul></ul><ul><ul><ul><li>Nominated an Advisory Committee </li></ul></ul></ul><ul><ul><ul><li>Developed a solid scientific/business/legal “entourage” </li></ul></ul></ul><ul><ul><ul><li>Filed patent applications </li></ul></ul></ul><ul><ul><ul><li>Setup research collaborations (academic and industrial) </li></ul></ul></ul><ul><ul><ul><li>Developed products to proof of concept/beta testing </li></ul></ul></ul>How it All Started
  8. 8. Facing Choices <ul><li>As I was finishing up my Ph.D. I needed to make a decision as it relates to my career path....... </li></ul>
  9. 9. The Rise.... <ul><li>Built a team of up to 17 people </li></ul><ul><li>Signed several collaboration agreements (research & business) </li></ul><ul><li>Signed a contract (product sale/custom development) with a mid-cap biotech company </li></ul><ul><li>Identified important business opportunity </li></ul><ul><li>In-licensed patent portfolio and prototype for a medical device from a small biotech company </li></ul><ul><ul><ul><li>Fiber optic sensor-based diagnostic/interventional catheter for vulnerable atherosclerotic plaque </li></ul></ul></ul><ul><ul><ul><li>To be coupled to our other products in development </li></ul></ul></ul><ul><li>Engaged in advanced discussions with several medical device and pharmaceutical companies around our company and products </li></ul><ul><li>Engaged in advanced negotiations with a medical device company interested in acquiring our company </li></ul><ul><li>And then ........ </li></ul>
  10. 10. .... And Fall of a Start-up <ul><li>Companies ended up not agreeing on the terms of the acquisition </li></ul><ul><li>Our Company did not have much cash flow </li></ul><ul><li>Our normal operations/product development were significantly slowed down by the M&A discussions </li></ul><ul><ul><ul><li>Due diligence process impeded our normal activities and delayed our planned product development timelines </li></ul></ul></ul><ul><li>We were having a difficult time attracting VC investment – early products, high risk/competition </li></ul><ul><li>In an effort to reduce expenditures and allow the Company time to select the best strategic option, we implemented a restructuring plan which involved downsizing </li></ul><ul><li>However, in spite of significant efforts to turn the situation around the Company was forced to cease its operations </li></ul><ul><li>The rest became an exercise in “damage control” </li></ul>
  11. 11. What Would I do Differently? <ul><li>I would join an experienced/senior team from which I would learn more efficiently – Great value in learning from experienced individuals – less learning from our own or other people’s mistakes </li></ul><ul><li>Would probably become involved in a project with more mature products/technologies </li></ul><ul><li>Would favor a more pragmatic and focused approach </li></ul><ul><ul><ul><li>Initially build on one project </li></ul></ul></ul><ul><li>Would probably become involved in a drug discovery/development company </li></ul>
  12. 12. What Did I Learn From This? <ul><li>Having a good relationship with my supervisor was key – Dr. Kaplan was very supportive of my involvement in this company, even as a graduate student </li></ul><ul><li>Making career choices out of frustration is not ideal </li></ul><ul><li>Being bold, taking chances, trying new things is a good thing – but staying rational and understanding your level of tolerance to risk and stress is very important! </li></ul><ul><li>Make sure that you get along with your future colleagues/partners – you spend a lot of time with them when you start-up a company </li></ul><ul><li>Learn how to set your limits both physically and emotionally </li></ul>
  13. 13. What Did I Learn From This? <ul><li>Make sure you understand or are advised on legal aspects – understand your personal liabilities </li></ul><ul><li>Give it all you’ve got – but being able to say that’s not what I want anymore is really important </li></ul><ul><li>Don’t let the prospects of financial success become your main driver/motivation! </li></ul><ul><li>Great scientific/technological ideas do not guarantee and are often not good enough for commercial success! </li></ul><ul><li>No regrets – anyways you can’t do anything about it! </li></ul><ul><li>Be open-minded to new opportunities </li></ul>
  14. 14. Aegera Therapeutics Inc.
  15. 15. Aegera Programs <ul><li> </li></ul><ul><li>Apoptosis Inhibition for Cancer </li></ul><ul><ul><li>Molecular Target: Inhibitor of Apoptosis Proteins (IAPs) </li></ul></ul><ul><ul><ul><li>AEG35156 Antisense Program </li></ul></ul></ul><ul><ul><ul><li>IAP Small Molecule Program </li></ul></ul></ul><ul><li>Apoptosis Inhibition for Neuropathy & Neuropathic Pain </li></ul><ul><ul><li>Molecular Target: HSP 90/JNK Pathway Inhibition </li></ul></ul><ul><ul><ul><li>Small Molecule Program </li></ul></ul></ul><ul><ul><ul><li> </li></ul></ul></ul>
  16. 16. Aegera’s Focus Apoptosis Control Drugs <ul><li>Cancer </li></ul>Neuropathy & Pain <ul><li>Diabetic </li></ul><ul><li>Chemotherapeutic </li></ul><ul><li>Autoimmune </li></ul><ul><li>Inflammation </li></ul>Prevent Facilitate A P O P T O S I S
  17. 17. Pipeline Status/Projections <ul><li>Oncology </li></ul><ul><ul><li>AEG35156 </li></ul></ul><ul><ul><ul><li>2 nd generation antisense in 4 Phase1-2 clinical trials </li></ul></ul></ul><ul><ul><ul><li>Early indications of target knockdown/efficacy </li></ul></ul></ul><ul><ul><ul><li>Multiple Phase 2 programs to be initiated in 2007 </li></ul></ul></ul><ul><ul><li>Small Molecule IAP Inhibitor </li></ul></ul><ul><ul><ul><li>Solid in vitro/in vivo Proof-of-Principle </li></ul></ul></ul><ul><ul><ul><li>Clinical development candidate selected in Q1/07 </li></ul></ul></ul><ul><ul><ul><li>Targeting i.v. P1 trial for Q1/08 </li></ul></ul></ul><ul><li>Neuropathy & Neuropathic Pain </li></ul><ul><ul><ul><li>Small molecule program that targets HSP90/JNK Pathway </li></ul></ul></ul><ul><ul><ul><li>Strong in vitro/in vivo for diabetic neuropathic pain </li></ul></ul></ul><ul><ul><ul><li>Targeting oral P1 trial for Q4/07 </li></ul></ul></ul>
  18. 18. <ul><li>Dominant Intellectual Property Base – Over 100 Issued & Pending Patents/Applications </li></ul><ul><li>Five Members of the IAP Family (Antibodies, Genes & Fragments) </li></ul><ul><li>Composition of Matter/Pharmaceutical Compositions – Antisense, Small Molecules </li></ul><ul><li>Methods of Treatment – Cancer, Neuropathic Pain/Neuropathy, Inflammation, Autoimmune Diseases </li></ul>TARGETED APOPTOSIS CONTROL AEGERA R&D STRATEGY THERAPEUTIC AREAS TARGETS/ MECHANISM PRODUCT/ NME <ul><li>Cancer </li></ul>XIAP Knock Down 2 nd Generation Antisense (AEG35156) <ul><li>Cancer </li></ul><ul><li>Autoimmune </li></ul><ul><li>Inflammation </li></ul>Pan IAP Suppression Small Molecule Inhibitors <ul><li>Neuropathic </li></ul><ul><li>Pain </li></ul><ul><li>Neuropathy </li></ul>JNK Pathway/ HSP Small Molecule Modulators <ul><li>Cancer </li></ul><ul><li>Neuropathy </li></ul><ul><li>Pain </li></ul>Apoptosis Regulation Small Molecules Internal Internal Internal In-Licensing/M&A
  19. 19. Proprietary Targets: IAP Protein Family (IAP = “Inhibitor of Apoptosis Protein”) XIAP Expression in Pancreatic Cancer <ul><li>Gene family discovered by Aegera </li></ul><ul><li>Central role in apoptosis inhibition </li></ul><ul><li>Strong correlation with cancer staging, outcome and resistance </li></ul><ul><li>Dominant/fundamental IP on family </li></ul>“ The IAPs…are the most powerful intrinsic inhibitors of cell death. ….IAP antagonists are promising candidates for anticancer therapies…” U. Fischer, K. Schulze-Osthoff “ Apoptosis-based therapies and drug targets”, Cell Death and Differentiation , 2005
  20. 20. XIAP: A Validated Cancer Target <ul><li>Cancer cells are highly resistant to apoptosis; yet in many cases are primed for apoptosis </li></ul><ul><li>XIAP inhibits caspase activities coupled to both intrinsic & extrinsic apoptotic pathways (caspases 3,7,9) </li></ul><ul><li>When XIAP is elevated caspase-dependent apoptosis can’t occur </li></ul><ul><li>Inhibiting XIAP lowers the apoptotic threshold in cancer cells when challenged with CT agents </li></ul><ul><li>Clinically, XIAP expression/regulation correlates with prognosis (AML, renal, prostate, etc..) </li></ul><ul><li>TNF </li></ul><ul><li>TRAIL </li></ul><ul><li>Fas </li></ul>
  21. 21. Aegera Compounds Demonstrate Neuroprotective Activity and Pain Relief Pain Relief & RNAi suppression of HSP70 blocks cmpd-induced JNK inhibition Cmpds fail to induce HSP70 in HSF1 knock out cells JNK CASPASE 3 CASPASE 9 MITO Cyto C CASPASE 7 Bad Bim Cell Survival HSP70 HSP5 others ... HSF1 HSF1 HSF1 HSP70 HSF1 Induces HSP70 HSF1 HSF1 HSP90 Compounds bind to HSP90 and release HSF1 HSP70 potently Inhibits JNK
  22. 22. Potential Therapeutic Areas Based on MOA Ischemia & Stroke (excitotoxicity) CDT CNS Neuro Disorders 63-7 [2005] Alzheimer’s Disease Am J Alz Other Demen 79-88 [2002] Parkinson’s Disease IUBMB Life 267-71 [2003] Huntington’s Disease Neuroscience 859-70 [2004] Diabetic Neuropathy FASEB 15: 2508 [2001] JBC 278: 23151 [2003] Diabetologia 49(3): 580 [2006] Mol Pharm. 70:1246 [2006] Taxol Neurotoxicity J. Neurosci. 21: 4657 [2001] JBC 278: 567 [2003] Neuropathic Pain Pain 99: 175 [2002] Biochem. Biophys. Res.Comm. 335: 132 [2005] J. Neurosci. 26(13): 3551 [2006] Axotomy-induced Neuronal Death JBC 280: 1132 [2005] HIV-induced PN Exp. Neurol. 188: 246 [2004] Stress-induced Death of SCGs and DRGs JBC 276: 4531 [2001] CNS PNS
  23. 23. Experienced Management Team Shire, Biochem Pharma, NCI (National Cancer Institute) 26 VP Clinical Jacques Jolivet, M.D. NRC, U of Ottawa, Salk Institute 28 VP Drug Discovery Jon Durkin, Ph.D. Telecom, TD Securities 18 Chief Operating Officer & Chief Financial Officer Donald Olds, M.Sc., MBA BioChem Pharma, Merck 29 Chief Scientific Officer John Gillard, Ph.D. RCT, AEA Investors, Bayer, Pfizer 24 President & CEO Michael Berendt, Ph.D. Prior Experience Years of Experience Title Name
  24. 24. Aegera Development Pipeline CANDIDATE SELECTION PHASE 1 PHASE 2 PHASE 3 AEG35156 Small Molecule IAP Antagonists Mono Small Molecule Neuropathy/Pain Combination
  25. 25. Aegera Development Pipeline - 2008 CANDIDATE SELECTION PHASE 1 PHASE 2 PHASE 3 AEG35156 Small Molecule IAP Antagonists Mono Small Molecule Neuropathy/Pain Combination Small Molecule Licensed
  26. 26. Aegera In-Licensing Criteria <ul><li>Small molecule therapeutic addressing unmet medical needs in either oncology, peripheral neuropathies or pain; </li></ul><ul><li>Direct activity on a known and biologically validated target preferentially involved in apoptosis control; </li></ul><ul><li>Primary indication that will allow a meaningful clinical readout in a Phase 2 study; </li></ul><ul><li>Lead compound no more than 6-12 months from IND filing up to Phase 3 (with an emphasis on proof of principle); </li></ul><ul><li>High quality preclinical or clinical data from well planned and administered preclinical models or trials; </li></ul><ul><li>Market potential of $ 250M or greater; </li></ul><ul><li>Solid and expandable intellectual property base </li></ul>
  27. 27. Contact: Aegera Therapeutics Inc. 810 Chemin du Golf Montreal, Quebec H3E 1A8 T: 514-288-5532; F: 514-288-9280 www.aegera.com
  28. 28. What’s My Job Like? <ul><li>Try to find strategic partners for our programs (out-licensing/partnering) </li></ul><ul><li>Shop for drug programs which complement our current pipeline (in-licensing) </li></ul><ul><li>Explore/seek M&A opportunities </li></ul><ul><li>Member of the R&D Management Committee </li></ul><ul><li>Secretary of the Licensing Review Committee </li></ul><ul><li>Represent BD/Licensing in internal program team meetings – align R&D and business objectives </li></ul><ul><li>Competitive business intelligence & market research </li></ul><ul><li>Take care of marketing on the side </li></ul>
  29. 29. What’s Next <ul><li>Expand my skill set/experience in BD/Licensing </li></ul><ul><li>Continue contributing to Aegera’s growth </li></ul><ul><li>Experience an IPO or major acquisition </li></ul><ul><li>Keep my options open – large biotech/pharma, equity analyst.... </li></ul><ul><li>.....in a few years, with more experience and even less hair, if an opportunity comes along......maybe start-up a new company!! </li></ul>
  30. 30. Thank You!

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