Building an Effective Pitch OR "hey buddy, can you spare a $100 million? "

Follow or Tweet: #ent101

hey buddy, can you spare a $100 million?

how to convince successful financiers to give you millions of dollars in a project

doomed to fail!

or

James Smith April 21, 2010

James Smith

Why do we do it?

I love love love entrepreneurs life sciences Canada

In the meantime

focus on cash and survival

no predictable trigger for an IPO window 1991 – product approvals 1995 – fund managers demand new opportunities 2000 – dragged along by the tech sector 200X – ???

Company’s perspective – valuations are low and funding has been less than expected Investor’s perspective – IPOs have generally not provided either liquidity or good returns

Canadian Capital Markets - IPOs

–  ‘You have 6 months of cash, why are you raising

more money?’

–  ‘Why did the share price go down 5 cents today?’

–  ‘Why is company X worth more than you?’

–  ‘Why are you not more promotional like the CEO

of such and such company?’’

–  (and many more that cannot be printed)

communications matter!

what is a presentation ?

"It's how you communicate big ideas - to communicate them

effectively."�

General Petraeus on powerpoint

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.

how do you encourage �someone to give you $10M in �

45 minutes?

what is a presentation

?

general specific

objective

leave an impression

general specific

don’t DROWN in DETAIL

tip (not rule) no. 1

what is a presentation ?

350 employees

75 key accounts

Business plan

Momentum

Overcome obstacles

95,000 square feet

8 products

Competitive advantages

Mission

Vision

Values

logo

Track record

Chief financial officer

Strengths

Opportunities

Expert board

Awards

Growth strategy

Organizational chart

Money in the bank

Features and benefits

VC shareholders

Website

Audited statements

Something big coming

Media coverage

Revenue model

Acquisitions

Nice boardroom

Technology

Intellectual property

7 years of hard won memories

You got 45 minutes: on you mark, get set, go …

I lied.

You actually only get 10 minutes twice.

20-30 slides

•  afj;psldk •  aslkdflfk •  asljkfhf






























Marathon 100 metres

NOW! huh aha

(rapid transfer)

are created equal

NOT all points

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

The point

Big big big

support

additional support

additional support

additional support

The point

Big big big

support

additional support

additional support

Underlying takeaway message

The point

A


B C

The point

A


B C

1 2 3

GRID it to GREAT

think about emphasis think about scale

think about priorities


The closest cousin to a powerpoint slide �

is a billboard!

Not words

maps pictures

diagrams illustrations


G

gum, an engineering marvel

Tastes good

Lasts long

Gives you something to do

Blow bubbles!

Cleans teeth

Makes you feel young!

high quality information

generates long lasting, defined, effective, profitable relationships


?

20-30 slides































the great ones are more than a series of slides


power of a narrative

which came first?

hunger no hunger … no plot … no one cares

50

How was that hamburger?

50

51

300,000 Shigatoxin Producing E. coli (STEC) Infections

  Foodborne illness that affects primarily children and elderly

  Associated with significant morbidity and serious complications

E.coli is an ongoing public health issue

> Estimated annual cases of E.coli infections in industrialized nations

UnderlyingValueProposition

days minutes

DAC™:Peptide Native Peptide

®

tamponade

phrenic nerve impairment

esophageal fistula

RF ablation: a difficult and long procedure

stenosis

thromboembolic complications

Heat (RF) based Ablations has Significant Risks

Coronary Heart Disease

20% of all deaths

one

Number

killer!

B R E A K I N G T H R O U G H

FORTUNE MARCH 22, 2004

2

6 million patients in the world Annual incidence: 700,000

arrhythmias 1 in 4 adults will get AF (age 40+)

* Wang et al. Circulation: Journal of the American Heart Association. August 2004.

AF Incidence

13/ of all new products

The future of medicine

57

at last, your passion…

value proposition

solution to hunger

value “if only they understood me”

evidence evidence evidence remember: high quality information


50 YEAR CANCER BARRIER

Heart disease

Cancer

600

500

400

300

200

100

0

1950 1960 1970 1980 1990 2002

Age-adjusted death rates per 100,000-population

FORTUNE CHART/SOURCES CDC 3

Top 3 drug categories 2004 annual sales

5 blockbuster

Cytostatics (Cancer)

Antiulcerants (GI tract)

Cholesterol & triglyceride

reducers

World’s Largest Drug Market

drugs $23.8B

$25.5B

$30.2B

}

Current treatment drawbacks

drugs heat ablation

treats symptoms only

30 – 60% effectiveness diminishes over time

serious side effects

used in <3% of cases only when drugs fail

high procedural risks: PV stenosis Thrombosis Esophageal perforation

Healthcare ramifications and risks

1

2

3

4

>15%

>20%

415,000 (U.S.)

US$6.6 billion

leading cause of stroke

leads to chronic heart failure

leading cause of hospitalizations

cost to healthcare

* Donald M Lloyd-Jones, Md, ScM, FACC. Medscape Cardiology 8 (2). 2004.

no practical solution!

It’s Going To Get Worse

WEU 23.4 M

China

42.3 M India

79.4 M

Diabetes Incidence: 2030

CAN/US 33.9 M

600 kg insulin 10

Rest of World 65% Insulin Demand

Western World 35% Insulin Demand

Source: WHO, International Diabetes Federation

Insulin Demand Insulin Demand

And It’s Not Going To End There

Traditional Insulin Alternative Delivery Insulin

5 - 20X per dose

500 mg per patient annually

~

11

the billion dollar slide

No one invests in hyper growth stories to double their money

“you have to show them the 10 bagger” - Michael Denny


paradigm market current expected

$140 M $126 M $3 B

aGvHD current AlloSCT

aGvHD other cancers

Blood disorders

Solid tumours with GVT

Autoimmune life-threatening

TheraluxTM Market Opportunity

17

NB1011 Market Opportunity B R E A K I N G T H R O U G H

$1.0B

Lung (NSCLC)

Breast

Stomach

Small bowel

Ovarian

Bladder

Colorectal

Lung (NSCLC)

Breast

Stomach

Small bowel

Ovarian

Bladder

Colorectal

Initial Market End Stage

Paradigm Shift First Line Treatment (with TS over expression)

$4.7B

25 High TS patient

Their COMPLEXITY is our $1 BILLION OPPORTUNITY

54 million low HDL

Americans with

There are

AF Business Opportunity Untreated Pool New Cases/Year

2.2 million 160,000

2.1 million 145,000

4.3 million 305,000

>$2 Billion Annual Business Opportunity

Supplying World Insulin Demand

15,000

3 commercial farms

Supply for the entire planet in 2012

15

acres or

1 commercial farm 1 mile

evidence evidence evidence remember: high quality information

FunctionFIRST™ yields results

400 A pipeline of

antibodies

lead candidates Three

partnerships Five

Genentech

Oxford bioMedica

Takeda

PDL BioPharma

Medarex

74

complete responses

25%

four doses of Proxinium™ complete tumor response

complete responses

76 Strong preclinical franchise

Top 10 Preclinical CRO worldwide

400+ Active clients

90% Retention rate

8 of 10 Largest pharma as clients

A fast growing, highly profitable CRO

76

77

Our Customers: Leading U.S. Hospitals Our Advanced Neuro-Diagnostic Instruments are used in over 1,300 hospitals in the United States including 6 of the top 10 Neurology and Neurosurgery Hospitals

Positive Phase I Results

Safety and tolerability established

•  3 phase I trials

•  Single and multiple dose

•  65 healthy volunteers

•  Blood chemistry within normal ranges

•  No reported significant adverse events

CRD5 Rapidly Increases HDL

Crestor (Statin)

Niacin - ER CRD5

Poorly tolerated Low market share

Levels still rising Non-optimized formulation Healthy volunteers

% in

crea

se in

HD

L

ConjuChem is developing our Exendin-4 Albumin Conjugate to be a best-in-class compound in a multi-billion dollar market place

Our drug does not cross the blood brain barrier

WELL-TOLERATED EFFECTIVE

ConjuChem is developing our Exendin-4 Albumin Conjugate to �be a best-in-class compound in a multi-billion dollar market place

Arctic Front: Encouraging early results

> 84% AF free

> 95% reduced burden & AF free

no safety concerns!

20 patients / 2 centers (rev 1)

75 patients / 6 centers (rev 2)

> 98% acute success

Neuradiab

MATURE PRODUCT CANDIDATE

R&D invested by NIH grant / foundation funding

60

Progressive survival benefit demonstrated

7

Established safety profile

193

million

trials

patients

1.

2.

3.

$

82

Neuradiab Outcomes

Clinically compelling difference

42 % Increase in survival =

1980 to

2004

2005

91 Surgery + Radiation + Temozolomide + Neuradiab

Surgery + Radiation + Temozolomide

Surgery + Radiation

Survival in weeks

75 60 45 15 30 105 90 0

weeks

83

Clinical Trial Design/Path

OvaRex® MAb Milestones

Data expected

December 2005

H2 2007

IMPACT I enrollment completed

June 2006

IMPACT II enrollment completed

Phase III

Data report expected

April 2006

Q2 2007

Phase II enrollment completed

October 2006

TTR Events: IMPACT I: 117 IMPACT II: 96

Phase II

May 2007

Data lock

OvaRex MAb 12

Neuradiab Pivotal Trial Timeline

2006 2007 2008 2009 2010

Trial Preparation Mfg / FDA / Site

Prep / Svc Providers

Trial Launch Mid 2007

Enrollment Complete

2011

NDA submission

License from Duke Q4 2005

Full Data Analysis

86

“Open Label” Trial

right information the

rapidly transferred

high recall with

messages distilled

diagrams pictures

everything not

maps

illustrations words not

stories patterns

brevity

emotion blind faith not

grids

closing thoughts

…transacts! generating earned attributes

TALK like a person

be authentic!

STOP the bullsh!!

how do you get to Carnegie Hall?

if I had only one slide

need expressed: hunger

need addressed: value proposition

market opportunity: greed

recommended reading

made to stick

presenting to win: the art of telling your story

slideology

brain rules


?

1.  Night before scramble 2.  Regurgitation of old slides 3.  No practicing 4.  Title slide 5.  Agenda slide 6.  Overview 7.  Recent trends 8.  Our solution 9.  Our customers 10.  Competition 11.  Market penetration strategy 12.  Summary 13.  Recap of the summary 14.  Title slide

hard work digging deep

doing better


wimps/settlers need not apply

100% of zero is zero

dilution

Think big!!!

thank you

Date post:	25-Dec-2014
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