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INSTITUTO DE SALUD CARLOS III SPANISH CELL THERAPY NETWORK December 14th, 2012
Business viability of a scientific project Solving the specific challenges of biotech & medtech products in order to attract investors.
Confidential 2
Credentials
3
€30 mn
>30
$300 mn
NEW THERAPIES LAUNCHED GLOBALLY.
VENTURE CAPITAL RAISED.
INTERNATIONAL LICENSING AGREEMENTS.
INNOVATIVE TECHNOLOGIES ANALYZED
USA, GERMANY, UK.
VENTURE CAPITAL “EARLY STAGE”.
PHARMA, BIOTECH & MEDTECH. 10 years
2 years
5 years
Confidential 3
Index
1. Intro
2. The WRAPUP© methodology of analysis
3. Summary
Confidential 4
Early considerations
Confidential 5
BENEFIT
RISK
TIME
Intro
Confidential 6
TEAM
PRODUCT / TECHNOLOGY
EXIT
FINANCING
Intro
1. The WRAPUP© methodology of analysis
Confidential 8
The WRAPUP© methodology of analysis
Relevant
Unique
Protectable Achievable
Profitable
Is there a real unmet need for your tech today?
Will it stay competitive in the future?
Can it be protected from copyists? What risks & barriers may prevent success?
What How profitable and cashable is it?
Confidential 9
1. What
What will you sale?
Hospital
Physician
How will you sale it?
Patient
Payor
Clear product / service definition
Clear revenue model
Confidential 10
2. Relevant
Market
Customers
Current competition
Patient type/s
Big enough?
•Patient •Doc •Hospital •Payor
Needs
Severe enough?
Better enough?
Confidential 11
3. Unique
Needs Better enough?
Capable enough?
Early enough? Future competition
Same technology
Other technologies
Product S&W
Organization S&W
Time to market
Confidential 12
4. Protectable
Is it Patentable?
Enough Patent life?
Protect
License / sell Patent/s
Know-how
Protected Diclosed Clock starts ticking
Able to be copied Undisclosed Clock stopped
“As late as possible, but as soon as necessary…”
Confidential 13
5. Achievable
What must you prove?
What have you proved?
Target Product Profile
Route Map Validation
Risks and barriers
Confidential 14
5. Achievable
What must you prove?
What have you proved?
INTE
RN
AL
Market adoption
Price, reimbursement, access
Freedom To Operate
Clinical development
Supply Chain
CMC
Pre-clinical development
Scientific assessment
EXTE
RN
AL Potential buyers
Deal value
Deal timing (when)
Regulatory
Risks and barriers
Confidential 15
5. Achievable
What must you prove?
What have you proved?
”Licensable”?
How solid is what you proved?
Probability of success?
Reasonable timing?
Reasonable investment?
Risk mitigation?
TEAM
Confidential 16
6. Profitable
Decision tree
Cash flows
•Target Product Profile •Environment •Probabilized
•Probabilized nodes through the Route map.
Commercial scenarios
•For each scenario
Profitable enough?
Early enough?
5-10x
3-6 yrs
Likely enough? Higher than average.
Confidential 17
6. Profitable
Example: Decision Tree
Valuation was poor:
3x 9 yrs to exit
Summary
Confidential 19
Summary
TEAM
FINANCING
EXIT
PRODUCT / TECHNOLOGY
Resumen
With science, don’t gamble.
Thanks!
www.dynomicsbmt.com
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