Giving birth to a
biotech........where’s the
pain relief ?!
Dr Caroline Barelle MBA
Fibrinolysis - PhD
BSc Biochem
University
Medical
mycology
Academia
University
PI
Academia
University
Biotech
Academia
University
7
Pharma
Biotech
Academia
University
9
The biggest Pharma
Pharma
Biotech
Academia
University
The biggest Pharma
Pharma
?
Biotech
Academia
University
The biggest Pharma
Asset portfolio
Pharma
IP/domains
Biotech
Academia
University
The biggest Pharma
Investment
Pharma
Biotech
Academia
University
Takes a long time and a lot of money
1
Medical devices,
Clinical Diagnostics,
Drug discovery
 High risk
 Lower risk, lower return
 Makes nothing, sells nothing
 Potential for early revenues
 99% chance of failure
 Exit often trade-sale
 Consumes loads of cash
 Returns are staggering if
successful
Medical devices,
Clinical Diagnostics,
Drug discovery
 High risk
 Lower risk, lower return
 Makes nothing, sells nothing
 Potential for early revenues
 99% chance of failure
 Exit often trade-sale
 Consumes loads of cash
 Returns are staggering if
successful
Seed
Series A
Series B
Series C
Idea generation
and validation
• IP from University/parent body
• Technology validation – “Proof of Concept”
• Commercial prototype and early pre – clinical
trials.
Early Stage –
Start up
• Technology platform and IP broadening
• Management team & Scientific group hiring
• Partnership and building company infrastructure
Late stage –
Expansion/public
offering
• Continue with clinical development (Launching of
product) and prepare exit (Eg., IPO)
• Aim for cash flow, break – even and lastly profit
Asset portfolio
Proposals
Pre-commercialisation cash
Build team and company value
Milestones
Reporting
CROs
Science
Conferences
Collaborations
Meetings
Value build
Investor ready
Value proposition
Commercial
Investors
Consultants
BP
IP
Secure seed/series A
Customers
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Lead the Science
Operations
Business Development
Commercialisation/Corporate
Alliance management
Reports
Due Diligence
IP
Papers
Conferences
BioPartnering
Budget
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Articles of association
Shareholding
Legal
Employee contracts
Facilities
Finance
IP
Consultants
SAB
The
Chair
Directors
NEDs
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Marketing
Website
HR
Organizational Development
Press
next tranche of cash!
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A good team
External support
Be realistic
Enjoy
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Questions??
25