SUPPORTING THE GROWTH OF LIFE SCIENCES

Transcription

SUPPORTING THE GROWTH
OF LIFE SCIENCES
STARTUP COMPANIES
BIOVISION 2013
MARCH 25-26
LYON-FRANCE
Co-organized with
EDITO
Dear Delegate,
We all observe a sea change in the biopharmaceutical industry due a shifting health care
landscape, expiring patents and generic competition, pricing pressures, heightened
regulatory scrutiny and a tough global economy. As a result, funding for life science
companies has become ever harder to come by, putting the engine of innovation at risk.
Our companies are asked to do more with less capital, and demonstrate outcomes, the
earlier the better. The whole industry now finds itself facing this “new normal”, but
among all those worries there is reason for guarded optimism as we take a pause
to re-think our current and test new business models in order for our companies to
survive and succeed.
Historically, the life science industry, comprising Academia, Biotech & Pharma, had been split into separate
camps, each focused on building value and maintaining control across the entire value chain. But drug R&D
and commercialization has become far too complex for any one company to be good at all of those disparate
activities. The obvious solutions are partnership structures in which early innovators get rewarded for, and
maintain control of higher-risk stages — and where Pharma partners provide development/commercial
expertise. Often it is not easy for Pharma as well as Biotech companies to cede authority over those areas
in which they aren’t competitive and many different structures are tried to address each other’s comfort
level. Our new partnership models also extend beyond the traditional Pharma – Biotech alliances, venture
capital investors now work very closely with all stakeholders, including forming direct alliances with Pharma,
and thus catalyze successful collaborations. And partnerships don’t always have to happen at a competitive
level; pre-competitive collaborations can yield tremendous benefits and cost savings for all stakeholders.
We see many creative business models being explored and for sure these are only the beginnings. In the
end, once we found a “new equilibrium”, I am very confident that we will we see an industry emerging whose
productivity is commensurate with its investment, an industry best prepared to harness the remarkable pace
of biomedical discovery for the ultimate benefit of patients.
The BIOVISION selection committee had the pleasure to select some of the best European biotech companies
and put them on display during this conference. Hence, please join me in welcoming the freshman class of
companies, and in wishing for this inaugural version of the BIOVISION Investor Conference 2013 to become a
key calendar date in years to come.
I want to thank all the participating companies, and of course, my colleagues from the venture capital industry
for their diligent work in selecting the best of the crop.
Roman Fleck, Index Ventures
Chairman of the Selection Committee
table of contents
programme
5
the selection committee
9
presenting companies
25
partners & sponsors
65
acknowledgments
69
WELCOME TO BIOVISION INVESTOR CONFERENCE
Welcome to the 1st edition of BIOVISION INVESTOR CONFERENCE, held on March 25-26 2013, at the Cité
Internationale of Lyon, France, in conjunction with the BIOVISION World Life Sciences Forum.
This event, organised in a very unique and original format in Europe, pairs the most promising lifesciences
start-up companies with representatives from leading cross-border venture capital, advisors and global
corporate firms. This is the first time that both best young & upcoming start-ups and venture backed startups will present in front of the same audience.
Biovision is also delighted to work with Lyonbiopole, world-class cluster in Rhône-Alpes, France, dedicated
to the fight against infectious diseases and cancers, as well as with France Biotech, French organization
dedicated to promote biotech and med tech businesses in France and EuropaBio, the European association
for bio-industries.
BIOVISION INVESTOR CONFERENCE promotes personal interactions between participants based on an
intensive program that places a priority on networking with high-level decision makers, companies and
investors. The event features:
• Presentations from a limited number of companies selected in advance by a panel consisting of more than
thirty international investors active in Europe
• A schedule of seminars and workshops, focusing on the issues of finance for innovation and access to the
market in Europe, moderated by high-level experts
• A dedicated space designed and equipped for one-on-one meetings scheduled in advance
The BIOVISION INVESTOR CONFERENCE Selection Committee, held on March 1st, selected 37 companies to
showcase during the two-day event.
The prestigious Selection Committee, representing nearly € 10 billion under management, is chaired by
Roman Fleck, Index Ventures and is coordinated by Jean-Marc Soustre, Humaneye Invest.
In total, approximately 280 company evaluations were performed. The selection reflects a great diversity
(11 countries), all activity sectors included: biopharma, medtech and healthcare services.
The total amount of funds sought by these 37 companies represents more than € 330 million, reflecting the
dynamism of the life sciences sector in Europe. Applications included companies based in the United States
and Australia and looking to relocate to Europe.
On behalf of the organizers, we wish you all a highly successful and productive conference.
p r o g r a m m e
6
biovision investOr conference
p r o g r a m m e
Monday, March 25, 2013
08:30
to
10:00
Building a sustainable environment for innovation in Europe
Moderated by Paul Seabright - Institute for Advanced Study, Toulouse School of Economics
Room Saint Clair 3
WELCOME PLENARY SESSION:
11:30
to
12:45
02:00
to
03:30
New partnership and investment models for innovation
Introduced by Chris Viehbacher - Sanofi
Moderated by Albertina Torsoli - Bloomberg News
Auditorium Pasteur
Company Presentations
Enabling technology for
BioManufacturing challenges &
opportunities by 2020
Neurotune
Mindseed Labs
Dorphan
Reflexion Medical
PrestoDiag
Miracor Medical
Moderated by JF Hamel
MIT / Board member Accinov
Room Saint Clair 1
Room Saint Clair 3
Mosaic Biomedicals
Ecrins Therapeutics
Epitherapeutics
Innavirvax
Biosourcing
DNA Therapeutics
03:30
to
05:30
05:30
to
05:45
05:45
to
07:15
Room Saint Clair 1
Corporate Pitch
Johnson & Johnson
Room Saint Clair 1
H2020
New investment tools
H2020
New Biotech Opportunities
Moderated by Jean-David Malo
European Commission
Moderated by Jürg Zürcher
Ernst & Young AG
Room Saint Clair 3
Room Saint Clair 2
Investor Conference Evening
Salle de la Corbeille - Lyon Chamber of Commerce and Industry
1:1 MEETINGS - Room Saint Clair 4&5
7
p r o g r a m m e
tuesday, March 26, 2013
08:00
to
09:00
Innovation Strategy & Corporate pitches
Mérieux Développement, Sanofi, GSK, Medtronic
Moderated by Olivier Exertier - ALGOE
Room Saint Clair 3
VitamFero
Enterome
Eydo Pharma
XL-protein
BioAtrix
Cytoo
09:00
to
10:30
Xeltis
Pixium Vision
Presbeasy
Abionic
Eveon
Glysure
Picoseq
Trophos
Anergis
GenKyoTex
Bone Therapeutics
TxCell
Genticel
Probiodrug
Room Saint Clair 1
Room Saint Clair 2
01:30
to
03:00
DigitalMediaLab
AlzProtect
Glyconova
GMP Orphan
GeNeuro
Room Saint Clair 1
CLOSING PLENARY SESSION:
03:30
to
04:30
European Commission Horizon 2020:
Securing Europe’s global competitiveness
Moderated by Olivier Raynaud - World Economic Forum
Auditorium Lumière
1:1 MEETINGS - Room Saint Clair 4&5
10:45
to
12:30
Room Saint Clair 1
the selection
c o m m i t t e e
the selection
c o m m i t t e e
index
Renee Aguiar-Lucander Omega Funds
UK
11
Claus Andersson
Sunstone Capital
DK
11
Muriel Bekto
MÖLNLYCKE HEALTHCARE
CH
11
Jasper Bos
Merck Serono Ventures
CH
12
Diego Braguglia
VI Partners AG
CH
12
Ivica Cerina
NGN Capital
DE
12
Aris Constandinides
NBGI
UK
13
Isabelle de Cremoux
Seventure
FR
13
Angelo De Rosa
Medtronic Europe
CH
13
Maciek Drozdz
Entrepreneurs Fund Management LLP
GB
14
Roman Fleck
Index Ventures
CH
14
Alexandra Goll
TVM Capital
DE
14
Marie-Laure Guarrigues CDC entreprises
FR
15
Lukas Guenther
Wellington Partners Venture Capital GmbH
DE
15
Tim Haines
Abingworth
UK
15
Celia Hart
CEA Investissements
FR
16
Gérard Hascoet
MDStart
FR
16
Alain Huriez
Advent Venture Partners
US/UK
16
Marcel Kloosterman
DSM Venturing
NL
17
Hans A. KÜpper
Global Life Sciences Ventures
DE
17
Franck Lescure
Auriga Partners
FR
17
Jesus Martin-Garcia
Eclosion CH
18
Joey Mason
Delta Partners
IE
18
François Miceli
Sofimac
FR
19
Daniel O'Mahony
Seroba Kernel
IE
19
Antoine Papiernik
Sofinnova Partners
FR
20
Maurizio PetitBon
Kreos Capital
UK
20
Thom Rasche
Earlybird
DE
20
Mark Redshaw
Evonik Corporate Venturing
DE
21
Manus Rogan
Fountain Healthcare Partners
IE
21
Sven Rohmann
Burrill & Company
US/CH
21
Christina Takke
Forbion Capital Partners
NL
22
Davide Turco
Atlante Ventures
IT
22
François Valencony
Merieux Developpement
FR
23
Ilka Wicke
Boehringer Ingelheim Venture Fund
DE
23
Mark Wilson
GlaxoSmithKline
UK
23
Renee Aguiar-Lucander, Partner
http://www.linkedin.com/pub/renee-aguiar-lucander/18/734/633
Renee Aguiar-Lucander joined Omega Funds after serving as a Partner in the venture capital
group of 3i Group Plc in London where she since 2005 was responsible for managing their
publicly quoted assets and the European legacy healthcare portfolio. In addition, Renee
structured and executed several secondary sale processes whilst at 3i. Prior to joining 3i she
was a Managing Director in Investment Banking at Lehman Brothers, with a focus on Business
Media & Internet. Renee has over 12 years of corporate finance experience with firms such as
BT Alex Brown, Deutsche Bank and Lehman Brothers, where she focused on raising M&A and
private/public capital for growth companies in both Europe and the US. Prior to Investment
Banking, Renee worked for 5 years in European sales & marketing for a financial services
focused software business. Renee has a BA in finance from Stockholm School of Economics
and a MBA from INSEAD. She has significant board experience from both private and public
board work and is presently a board member of Sophion Bioscience A/S, NsGene A/S, ImpactRx
Inc and Newron Pharmaceuticals SpA.
Claus Andersson, Partner
http://www.linkedin.com/in/clausandersson
Claus Andersson is a partner in the Life Science group and has been with the team since it was
established. Claus focuses on medical technology, diagnostics and therapeutics investments
and is actively involved in maintaining our strong network to universities and research centers.
Claus has extensive experience in strategy execution and technology development from various
parts of the Life Science ecosystem: both as an entrepreneur, venture capitalist, scientist, and
corporate manager.
Claus holds a Master’s degree in Civil Chemical Engineering from the Technical University of
Denmark (DTU) and a PhD in Mathematical Statistics from the University of Copenhagen and
the Humboldt University in Berlin. Outside working hours, Claus interests span from skiing,
running to multivariate statistical modeling at the University of Copenhagen – a mix providing
several sources of recreational activities.
Muriel Bekto, Country Manager Surgical Division at Molnlycke Health Care Switzerland
http://www.linkedin.com/in/murielbekto
9 years in sales and marketing management in the medical devices sector. 8 years experience in
marketing and consulting in the IT industry. Strong international exposure including Western and
Eastern Europe, Asia Pacific and Middle East.
Specialties:
• Sales Management
• People management and talent development
• Marketing - Strategic planning, new product development and introduction, brand management,
e-marketing, KOL management.
• Consulting in supply chain optimization software solutions
• Project management with experience leading cross-functional teams
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Jasper Bos, Director Merck Serono Ventures at Merck Serono
http://www.linkedin.com/profile/view?id=6745360&locale=en_US&trk=tyah
Dr. Jasper M. Bos is a Director - MS Ventures at Merck Serono S.A., Investment Arm, which he
joined in March, 2009. Previously, he served as Investment Manager at African Health Systems
Management and IFHA. Dr. Bos was instrumental in the structuring and capital raise of the
Fund and negotiated and managed investments in Nigeria and other African countries in the
healthcare and financial sector. Prior to that, he worked as Health Economics and Strategy
Manager at the Netherlands Vaccine Institute. Dr. Bos is a visiting scholar at the University of
Groningen, and published over 30 articles on health economics. He holds a Ph.D. in Pharmacy
from the University of Groningen, the Netherlands. Jasper is a Board Member of Galecto
Biotech, EpiTherapeutics ApS and an Observer to the Board of VAXIMM.
Diego Braguglia, General Partner
http://ch.linkedin.com/pub/diego-braguglia/15/4b9/963
Diego joined VI Partners in January 2003 as a partner focusing on life-science and biotech
investments.
He brings over 10 years of experience in life science, medical devices and pharmaceuticals in
Europe and the US. Prior to his entry into the VC industry Diego has held various managerial
positions in the pharmaceuticals and medical devices sectors, as well as in biotech start ups in
Europe and the US.
Diego holds an M. Sc. in Microbiology from the Biocenter of the University of Basel and a
Ph.D. in Molecular and Cellular Biology from the Swiss Cancer Research Institute (ISREC) in
Lausanne. He is fluent in English, French Italian and German.
Diego carries the prime responsibility for the following portfolio companies: Cequr, Covalys,
Edimer, Endosense and Novashunt.
Ivica Cerina, Partner
http://www.linkedin.com/pub/ivica-cerina/0/b5/8a9
Dr. Cerina is a Partner of NGN Capital. Ivica Cerina, Ph.D. joined NGN Capital in 2005 from
DyoDelta Biosciences Ltd. where he was VP Venture Financing & Business Development. Prior
to that, he gained 6 years of venture capital experience at TVM - a leading German-U.S. venture
firm with over €1.2B under management - where he was responsible for deal sourcing, due
diligence, deal support and business development. At TVM he worked with the partners on
existing portfolio companies and new transactions (e.g. Addex, Jerini, SelectX, Direvo) and
established a strong international network with leading venture firms, investment banks,
biotech & pharma companies. Prior to TVM, Dr. Cerina worked as a consultant advising startups and small and mid-size entities on financing and business strategy. Dr. Cerina studied
Biochemistry at the J.W.Goethe University in Frankfurt and performed his doctorate thesis
at the Hemostasis Research Unit of the Max-Planck-Institute for Physiological & Clinical
Research in Bad Nauheim. Dr. Cerina currently serves on the Board of Directors of NaniRx
Therapeutics and holds an observer seat on the board of Vivaldi Biosciences.
Aris Constantinides, Founder and Investment Director
http://www.linkedin.com/in/arisconstantinides
Aris is the founder and Investment Director of NBGI Ventures, responsible for its overall
strategy and management, and leads its presence in the medical technology sector. Aris
established NBGI Ventures in 2001, following five years in venture capital with Deutsche Bank’s
venture capital team and CSFB’s Cabot Square Capital fund. He started his career at Bankers
Trust as a derivatives specialist.
Aris holds a B.Eng from Imperial College and a SM from MIT in Mechanical Engineering and an
MBA from INSEAD.
Isabelle de Cremoux, CEO/Managing Partner
http://www.linkedin.com/pub/isabelle-de-cremoux/0/214/948
Isabelle brings 21 years of international experience in life sciences business development and
finance.
Isabelle started her career in ‘91 at Arthur Andersen Detroit, US then at Pfizer France and
Europe where she held several positions during 6 years in the field of management accounting,
clinical research then Business Development. Since ‘98, she was Associate Director of
Business Development at Fournier and signed several deals in Europe and in the US.
Isabelle graduated as an engineer from Ecole Centrale of Paris and holds DECF and ISEB
degrees and joined Seventure in July 2001.
Angelo DE ROSA, Head of Strategy & Business Development
http://www.linkedin.com/pub/angelo-de-rosa/1/848/9b
Angelo De Rosa is responsible for Strategy and Business Development at Medtronic for
Europe, Middle East, Africa and Canada (EMEAC). He brings over 17 years of international
leadership experience in the medical device business, covering General Management, Business
Development, Sales and Marketing, Clinical responsibilities in diversified geographic areas.
He is also an entrepreneur, founder of NayaMed International and passionate for disruptive
business models in healthcare. Member of the International Grants Committee for the
Medtronic Foundation. Active speaker in the MedTech area at European level. Angelo holds
a Biomedical Engineer Degree from the University of Pisa, MBA diploma from Politecnico
di Milano, Italy. Continuous education from IMD in Lausanne and Wharton Business School,
Pennsylvania.
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Maciek Drozdz, Investment Manager
http://www.linkedin.com/pub/maciej-drozdz/0/ab9/206
Maciek is an Investment Manager at Entrepreneurs Fund. Before joining EF he was an analyst
at Atlas Venture in Munich and an Investment Director at MCI Bioventures in Poland. Maciek
holds an MSc in molecular biology from A. Mickiewicz University, and a PhD from Zentrum für
Molekulare Biologie in Heidelberg. He also has an MBA from Said Business School in Oxford.
Roman Fleck, Principal
http://www.linkedin.com/pub/roman-fleck/0/88a/57a
Roman joined the Life Science team at Index Ventures in 2006 and
he is Principal based in the Geneva office.Prior to joining Index Ventures, he worked for
seven years at Boehringer Ingelheim Pharmaceuticals. Roman received his Ph.D. in organic
chemistry from the Massachusetts Institute of Technology (MIT) where he performed research
on catalytic antibodies. In addition, he obtained an MBA from New York University’s Stern
School of Business where he continues to serve as a mentor for aspiring entrepreneurs.
Currently, he represents Index Ventures on the boards of GlycoVaxyn, Novocure and Diartis,
while remaining closely involved with Versartis, Funxional Therapeutics and Normoxys.
Alexandra Goll, General Partner
http://www.linkedin.com/pub/alexandra-goll/22/486/566/en
Dr. Alexandra Goll, who joined TVM Capital in early 1998 has been responsible for more
than 20 TVM Capital life science investments. She initiated TVM Capital’s lead investment
in Actelion Ltd (Allschwil, Switzerland) and led the firm’s successful investments in Idenix
Pharmaceuticals, Inc. sold to Novartis, and Pharmasset Inc. which was sold to Gilead Sciences
– TVM Capital acted as a lead investor in both cases. She also initiated and managed the
investment in EUSA Pharma Ltd., recently sold to Jazz Pharmaceuticals Inc.
Currently, Dr. Goll serves on the Board of Directors of Albireo (Gothenburg, Sweden), Biovertis
AG (Vienna, Austria) and Cerenis Therapeutics (Toulouse, France and Ann Arbor, MI). She also
represents the interests of TVM Capital with Addex Pharmaceuticals SA (Geneva, Switzerland),
MediGene AG (Martinsried), Newron Pharmaceuticals SpA, (Bresso, Italy) and Wilex AG
(Munich, Germany).
Prior to her affiliation with TVM Capital, Dr. Goll was the Global Business Leader for HIV
and CMV, and was responsible for strategic marketing and business development for
Virology at Roche Ltd. in Basel. She had been involved in clinical development and managing
commercialization strategies of products such as Neupogen® (under an agreement with
Amgen), Hivid®, Cymevene® and Valcyte®. Dr. Goll holds a degree in pharmacy from the
Free University of Berlin, and wrote her doctoral dissertation in natural sciences at Philipps
University of Marburg. She was also honored with a post-doctoral position supported by the
Boehringer-Ingelheim Foundation for fundamental research in medicine.
Marie-Laure Garrigues, Investment Director
http://www.linkedin.com/pub/marie-laure-garrigues/0/475/62
Marie-Laure Garrigues is a Director of Investments at CDC Entreprises since 2008, and
a member of the management team of the Innobio fund since 2009. Before joining the VC
industry, she was the Microbiology Division Manager at Bio-Rad Laboratories, a California
diagnostics company, after moving from Sanofi Diagnostics Pasteur, where she held successive
management positions. During her career, she has directed international teams in a variety
of programs, including R&D, marketing, and operations. She specialized in microbiology as
a research assistant at the Hospital Necker and the Pasteur Institute, before joining the life
science industry.
Marie-Laure Garrigues is a pharmacist, former hospital internist in Medical Biology in Paris,
and holds a DEA from the Faculty of Pharmacy of the University of Paris V.
Lukas GUENTHER, Investment Director
http://www.linkedin.com/in/lukasguenther
With an international background in clinical medicine and economics, Lukas joined the
Wellington Life Science investment team in 2007. Prior to joining Wellington, Lukas had worked
for six years as a surgeon and researcher specializing in organ and cell transplantation at the
department of surgery at the Universities of Heidelberg and Freiburg. From 2000 to 2002, Lukas
was a post-doctoral scientist at Harvard University in Boston, where he conducted research in
the fields of immunology and protective genes. In 2003/2004 Lukas completed a fellowship in
clinical islet transplantation at the University of Minnesota in Minneapolis, participating in NIH
multicenter trials. Lukas studied Medical Sciences in Berlin and Cape Town. He holds a summa
cum laude doctorate in Medicine from the Humboldt University Berlin and a Global OneMBA
degree from RSM Erasmus University, Rotterdam.
Tim HAINES, Partner
http://www.linkedin.com/pub/tim-haines/55/65/310
Tim Haines has more than 25 years of international management experience in the life
sciences industry. Before joining Abingworth in 2005 he was Chief Executive of the Abingworth
portfolio company, Astex Therapeutics. Tim was with Astex for more than five years and was
instrumental in establishing it as one of the leading UK biotechnology companies. Previously,
Tim was Chief Executive of two divisions of the publicly-listed medical technology company,
Datascope Corp. Prior to Datascope, he held a number of other senior management positions
in the US and Europe, including CEO of Thackray Inc and General Manager Baxter UK. Current
and past board positions include Astex Pharmaceuticals, Fovea, Kspine, Lombard Medical,
Pixium Vision, PowderMed, Stanmore Implants and XCounter. Tim has a BSc from Exeter
University and an MBA from INSEAD. At Abingworth, he identifies and creates new businesses
and provides support for portfolio companies.
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Celia HART, Investment Director
http://www.linkedin.com/in/hartcelia
Celia has 15 years experience in the chemical and biotechnology sector. She did her PhD in
protein engineering and metabolic engineering at Oxford University (UK) in a laboratory that
worked closely with Industry (GSK, DSM). Celia then worked in the UK Biotechnology industry
at Cambridge Antibody Technology (now Medimmune) where she was the Head of Lead
Optimisation and led the R&D development of several therapeutic antibodies. Since then she
has been assessing new business opportunities built on strong science at leading institutions
(ESRF, CEA). She joined CEA Investissement (France) in 2005 as an investor and is responsible
for the life sciences sector. She serves on the Board of several companies including Cytoo,
Fermentalg and Neorphys.
Celia holds a degree in Chemistry from the University of Geneva, a PhD from the University of
Oxford (UK) and an MBA from Grenoble Ecole de Management (France).
Gérard Hascoët, Chairman of the Board
Gérard Hascoët is Chairman of the Board of MD Start (Germany& Switzerland), Chairman of
the Board of SpineVision (France), Chairman and CEO of CorWave (France), Director of the
Board of APD (France), Director of the Board of Dupont Medical (France). He is also Venture
Partner for the French based Venture Capital firm Sofinnova Partners.
Prior to becoming active in MedTech investment, Gérard was Serial entrepreneur in the
MedTech. In the eighties he founded Technomed International, a company developing non
invasive therapeutic technologies dedicated to Urology. He grew the company to its IPO in 1989
with € 50 Million sales. In the nineties he founded 2 companies: IMMI developing Neurosurgery
Image guided Robotic systems and SOMETEC developing non invasive Hemodynamic
monitoring dedicated to Anesthesiology and Intensive Care. Both companies were acquired by
US based companies listed on the NASDAQ (ISS and ARROW International). Most recently as
CEO he turned around SpineVision a developer and Manufacturer of Spinal Implants
Prior to becoming an entrepreneur, Gérard began his career within the French Thomson Group,
where he held during 15 years various management positions in the MedTech branch.
Gérard is an engineer graduated from E.C.E Paris.
Alain Huriez, Venture Partner
http://www.linkedin.com/in/alainhuriez
Alain joined Advent in 2012 bringing 22 years of experience in management, drug development
and financing in the life sciences sector, including CEO of TcLand Expression and Neovacs,
Associate Partner at Truffle Capital and Vice President at Quintiles. Alain is a medical doctor
and holds an MBA and a Masters of Pharmaco-Economics from Paris La Sorbonne University.
Prior to joining the industry, he was head of the emergency room in a large teaching hospital
and practiced as a General Practitioner for two years.
Alain has been responsible for several initiatives in Europe within the areas of personalized
medicine, biomarkers and high value diagnostics through his work as chairman of EPEMED,
the European Personalised Medicine Association. As an entrepreneur, and in addition to
TcLand Expression, he also co-founded three French biotechnology companies.
Marcel KLOOSTERMAN, Investment manager
http://www.linkedin.com/pub/marcel-kloosterman/1/580/792
Dr Marcel Kloosterman has worked for DSM since 1985 in various functions. Currently Marcel
is investment manager for 2 DSM-related Venture Capital activities, being DSM Venturing
(DSM’s corporate investment group; fund size € 200 Mln) and Limburg Ventures (a fund
co-founded by DSM with regional focus), both residing at the DSM Innovation Center in NL.
Targeting break-through start-up companies that are looking for equity financing by DSM,
and could benefit from DSM’s strongholds (IP, M&S channels, management, production
et al.) in the areas of Lifesciences (pharma, nutrition, feed, personal care), Performance
Materials(resins, coatings, (bio)-polymers, strong fibers, engineering plastics) or DSM’s
Emerging Business Areas(eg biomedical materials, white biotech). Holding board seats in
several European startups, and acting as advisory board member in several panels.
Sectors of Personal Expertise: life sciences/ energy, clean technology, environment.
Hans A. Küpper, Partner
http://www.linkedin.com/pub/hans-kuepper/0/55b/b51
Dr. Küpper has a total of 29 years experience in biotechnology with 19 years in the life
science industry, where he was involved in activities from research and R&D management to
technology assessment and acquisition. In February 1999, Dr. Küpper joined as a Managing
Director of GLS I’s advisory company, based in Munich, Germany. Since that time he has been
advising GLS I and managing GLSV II in all aspects of investments. Dr. Küpper is a board
member, or attendee, with a number of portfolio companies, one of which is now listed on the
Vienna Stock Exchange and one at NASDAQ.
He received his PhD from the University of Heidelberg in 1974 and spent two years as a
postdoctoral fellow at MIT in Boston with Nobel Laureate Prof. Khorana. After another four
years at Heidelberg University he joined Biogen in Geneva, one of the pioneering biotech
companies, in 1980. There he held various R&D and management positions with increasing
responsibilities and was Assistant Research Director from 1982 to 1985. In 1985, he joined
Behringwerke AG to build up and head their Molecular Biology department. Later he
became head of R&D and member of the board of their Immunology/Oncology business
unit. His major research focus was on gene regulation and vaccines. Since 1991 he has been
increasingly involved in deal negotiations and various aspects of company restructuring such
as acquisitions, joint ventures and spin-offs, including the spin-offs of their vaccine unit and
diagnostics business.
Dr. Küpper, born in 1944, is author of 50 scientific publications and 13 patent applications. He
has served as a consultant for the pharmaceutical industry and the European Commission.
Franck lescure, Partner
http://www.linkedin.com/pub/franck-lescure/0/3b9/a03
Franck joined Auriga Partners in 2004. He is responsible for investments in life sciences. He
currently serves on the board of directors of several portfolio companies including Cytoo,
Erytech, Médian, TcLand and TxCell.
In 2003, Franck joined Crédit Lyonnais Private Equity, after 5 years spent at the Commercial
and Medical Departments of Air Liquide Santé, the Healthcare subsidiary of Air Liquide. He
began his career in Genset, from 1990 to 1995, in Paris and San Diego, working on therapeutic
applications of oligonucleotides and the development of a new-generation DNA synthesizer.
Franck is an alumnus of the Ecole Normale Supérieure and has a PhD in Molecular Virology. He
is also a graduate of the Institut Pasteur and hold a MBA from Collège des Ingénieurs.
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Jesús Martin-Garcia, Founder and GP
http://www.linkedin.com/in/jesusmartingarcia
Jesús started his career at the World Economic Foundation, and later at McKinsey & Co.
focusing on Pharma and Food industries. In 1991 Jesús chose the entrepreneurial path,
becoming the co-founder of LeShop, Switzerland’s largest and most successful e-commerce
company, and investing seed capital and supporting the creation of a number of other start-ups
such as Silverwire or VTX. His entrepreneurial drive led to the launch of the Eclosion platform
in 2004, to translate breakthrough science into life-altering drugs. This platform is a unique
structure, with a public-private partnership that drives projects from the lab to clinical trials,
as demonstrated by companies such as GeNeuro and GenKyoTex. These companies that were
started as exploratory programs in the incubator are now testing first-in-class drugs in clinical
trials.
Jesús has a MS in Economics and a Master in Law from University of Geneva, and an MBA from
Harvard Business School. He chairs the Board of other Eclosion start-ups such as GeNeuro
and ArisGen.
Joey MASON, Partner
http://www.linkedin.com/pub/joey-mason/0/26b/a30
Joey Mason joined Delta Partners in 2003, specialising in Life Science investments. He serves
on the boards of Genable Ltd, Glysure Ltd, Miracor Medical Systems GmbH, SpineGuard SA,
Accunostics Ltd and Neuravi Ltd. He serves as an observer on the board of QStream, Inc.
Having trained as a doctor, Joey spent five years as an investment banker in the Health Care
market with Morgan Stanley International and Technomark in London.
From 1995 until 1999 he was Director of Corporate Development at Biotrin Holdings plc, an
Irish biotechnology company backed by Delta Partners and other VCs.
In 2000 he co-founded and managed Eumom Ltd, a marketing services business operating
websites for pregnant women in Germany, Ireland, Switzerland and the UK.
A medical graduate of Trinity College, Dublin, he is a Fellow of the RSA and serves on the
council of the EVCA.
François A. MICELI, Member of the Investment Board & Venture Partner
http://www.linkedin.com/pub/francois-miceli/5/9b/7a
48 years old, graduated in biology engineering from Paris XII UPEC University then from
INSEAD (EE, Corporate Finance) and from IHEDN (Institut des Hautes Etudes de Défense
Nationale, promotion Chevalier Bayard). François Miceli has started is carrier in one of the first
French public biotechnology company called CLONATEC within OHF Holding group, where he
has served as International Product Manager.
End of 1990, François has joined the US NASDAQ listed company called IDEXX Laboratories
Incorporated where he successively served as Director for Europe in an international business
unit, General Manager of the French subsidiary IDEXX France S.A and then Chief Executive
Officer of the Italian subsidiary IDEXX Laboratories Italia. During all the time spent with IDEXX,
François Miceli was member of the European Managing Committee.
Back to France in 1998, François Miceli joined Synbiotics, spin off from MERIAL as Director
of European operations before founding LMD Pharma, a biotech start up with the support
of several major venture capital funds such as Banexi Ventures, LCF Rothschild, Siparex et
Sofimac Partners.
From the end of 2003 to February 2011, François MICELI served as Chief Executive Officer
of the integrated biopharmaceutical company IMAXIO dedicated to innovative vaccines for
infectious diseases and oncology. Since February 2009, François also served as CEO of AXCELL
BIOTECHNOLOGIES, the fully owned IMAXIO subsidiary. During this period IMAXIO has received
in 2009 the 3rd prize of Deloitte Fast 50 and the 2nd prize of Deloitte Fast 50 in 2010. During
this period, François Miceli was Managing Director of EDULIS Technology, a private holding for
technology asset management, part of the IMAXIO group.
Since February 2011, François Miceli is founder and Chief Executive Officer of Zophis sas, a
French company dedicated to in-license early stage vaccine projects.
He also serves as Senior Investment Partner with SOFIMAC Partners Capital Investment where
he is in charge of innovation investments.
He is also a member of the economic board of the vaccine cluster LyonBiopôle and member of
the industrial council of CLARA (Cancéropôle Auvergne Rhône-Alpes).
Until May 2009, François Miceli was Chairman of ERYtech Pharma S.A and he is a former board
member of SIMV (Syndicat de l’Industrie du Médicament Vétérinaire) and of several biotech
companies.
Daniel O’Mahony, Partner
http://www.linkedin.com/pub/daniel-o-mahony/13/a14/b02
Daniel O’Mahony is a Partner at Seroba Kernel Life Sciences Limited, the largest life
sciences VC fund in Ireland. He sits on the board of a number of companies including Apica
Cardiovascular Ltd and Novate Medical Ltd.
Daniel previously worked in a variety of product development, business development, corporate
venturing and asset divestment roles at Elan Corporation, Taro Pharmaceuticals and BSM
Management Consultancy. In 2005 he established the Technology Transfer Office at the
National University of Ireland, Galway.
Daniel graduated with a Ph.D. from the National University of Ireland, Cork and holds a
business degree in technology management from the Smurfit Business School, University
College Dublin.
He has held academic appointments in both Ireland and the USA and has published in several
scientific journals and is co-inventor on numerous patent families.
19
20
Antoine Papiernik, Managing partner
http://www.linkedin.com/pub/antoine-papiernik/10/756/60
Antoine Papiernik is a Managing Partner at Sofinnova Partners, which he joined in 1997.
Antoine has been an initial investor and active board member in public companies like Actelion,
Addex, Orexo, NovusPharma (then sold to CTI), Movetis (then sold to Shire) and Stentys, which
went public respectively on the Zürich stock exchange, the Stockholm stock exchange, the
Milan Nuovo Mercato, the Belgium Stock Exchange and EuroNext Paris, in Cotherix (initially
NASDAQ listed, then sold to Actelion), CoreValve (sold to Medtronic) and Fovea (sold to Sanofi
Aventis). He has also invested in and is a board member of private companies MD Start, CoAxia,
EOS, Mainstay and Recor. Antoine has an MBA from the Wharton School of Business, University
of Pennsylvania. For 2012 and 2011, Antoine has been recognized on the Forbes “Midas List”
of the top dealmakers in life-science and high-tech venture capital. Antoine is one of the only
Europeans on the list, and one of the few life-science investors as well.
Maurizio PetitBon, General Partner
http://www.linkedin.com/pub/maurizio-petitbon/0/106/468
Over the past 30+ years, Mr. PetitBon has built a career as manager, advisor, entrepreneur
and investor in a wide variety of high-growth companies. Mr. PetitBon has worked and lived in
several European countries and in the US.
Mr. PetitBon joined Kreos Capital and in 1998 and for the past 12 years has focused on
identifying, assessing and managing continental European and life science transactions as well
as participating in the management and execution of Kreos’s overall strategy.
Thom RASCHE, Partner
http://www.linkedin.com/pub/thom-rasche/11/421/967
Thom Rasche joined Earlybird as a Venture Partner in 2003 and was promoted to Partner in
2006.
Thom has more than 11 years experience as investor. Further, he is a seasoned executive in
the medical device and diagnostic sectors with over 25 years of operational experience. Since
he joined Earlybird, Thom has been responsible for the medical device portfolio and new
investments in this area. He has successfully led various financing rounds in both European
and US based companies. He is an observing board member of Hemoteq AG (Aachen,
Germany) and is currently on the board of EBS Technologies GmbH (Berlin, Germany), Miracor
Medizintechnik GmbH (Vienna, Austria) and Zonare Medical Systems, Inc. (Mountain View,
CA). Additionally Thom was a board member of BMEYE B.V. (Amsterdam, Netherlands), which
was sold to Edwards Lifescience Corporation in 2012 and an observer at Calypso Medical
Technologies Inc, (Seattle, WA) which was sold to Varian Medical Systems Inc. in 2011.
Before joining Earlybird, Thom was the Managing Director for Ethicon Endo-Surgery, a Johnson
& Johnson company and was responsible for growing the company to be the market leader of
minimal invasive surgery in Germany.
Prior to Ethicon, Thom was the Vice President Europe for Critikon, the inventor of non-invasive
automated blood pressure monitoring where he was responsible for the European organization
and the European Development Centre in Wales.
Thom has also held various senior marketing and sales positions with Johnson & Johnson in
Europe and the US. Thom Rasche holds a Degree as Diplom Kaufmann (MBA equivalent) from
the University of Applied Sciences in Lüneburg, Germany, specializing in marketing and human
resource management.
Mark REDSHAW, Investment Manager
Mark Redshaw is an Investment Manager at Evonik Corporate Venturing. Prior to joining the
team founding Evonik Corporate Venturing, Mark held positions within the Health & Nutrition
business of Evonik. Working for over 15 years in number of international roles in a dynamic
growing global business. Recently responsibility for service differentiation and developing
environmental, economic and societal sustainability in the business were preceded by five
years as head of Evonik Animal Nutrition Services, the global leader in research, analytics
and handling of amino acids. Prior roles have included implementation of global CRM,
management, pricing and account management systems as well as running the operative
business in Africa and the Middle East. Mark studied agriculture at the University of Reading
and received a PhD from the University of Nottingham. He has lived and worked in Germany for
more than 10 years.
Manus Rogan, Managing Partner
http://www.linkedin.com/pub/manus-rogan/2/152/ab9
Dr Manus Rogan is Managing Partner and co-founder of Fountain Healthcare Partners. He
has over 23 years of investment and operating experience in the life science sector in both the
US and Europe. Manus earned a PhD in chemistry from the University of York (sponsored by
GlaxoSmithKline) and an MBA from Trinity College Dublin. Manus began his career in product
development at GlaxoSmithkline in the UK and in 1996 joined ElanCorporation’s business
development group. For four years he was responsible for licensing products and drug
delivery technologies in Europe and Japan. In 2001, Manus joined Elan’s Corporate Venture
Capital group in New York where he invested in private and public biotechnology companies.
In his 7 years at Elan, Manus concluded over twenty five investment and technology licensing
transactionsinvolving companies in the US, Europe and Japan. Manus currently serves on
a number of Boards including Amarin Corporation, Opsona Therapeutics and is the Vice
Chairman of the Irish Venture CapitalAssociation.
Sven Rohmann, General manager Europe & Managing director
http://www.linkedin.com/in/svenrohmann
Dr. Rohmann joined Burrill & Company in 2010 with a background in clinical medicine
and basic research. He spent 10 years at Merck Serono, which provided him with a strong
foothold in the pharmaceutical industry. His career exposed him to pre-clinical and clinical
development, as well as marketing, business, and corporate development. During his tenure
at Merck, he was involved in the successful licensing of Erbitux from ImClone and the
establishment of Merck Oncology.
Prior to joining Burrill & Company, Dr. Rohmann worked as Venture Capital Fund Manager
for Novartis Pharma AG, and as Managing Partner at Nextech Venture, both Switzerland. In
addition, Dr. Rohmann served as CEO of two European biotech start-ups and gained board
experience at three SME’s in Germany.
Dr. Rohmann’s brings a unique blend of scientific, pharma/biotech and venture knowledge,
extensive network of contacts among healthcare providers, as well as academic and
government research administrators, a thorough knowledge of European research and
regulatory policies, and a significant experience in global, as well as European, partnering.
Dr. Rohmann received his MD from the University of Mainz, Germany, and his PhD from the
Erasmus University, Rotterdam, Netherlands.
21
22
Christina Takke, Partner
http://www.linkedin.com/pub/christina-takke/0/200/a93
Christina is Partner at Forbion Capital Partners and joined the team in 2000.
Christina holds a PhD in Developmental Biology, which she obtained under the supervision of
Prof. Dr. Campos-Ortega at the Institute of Development Biology of the University of Cologne.
As an undergraduate Christina studied Molecular Biology / Biochemistry at the Technical
University of Darmstadt, Université de Bordeaux and at the Institut National de la Recherche
Agronomique (INRA) Montpellier. After her studies, she gained experience in working with
biotech startup companies at Bio-Gen-Tec-NRW in Cologne, Germany, a regional development
organization for the biotechnology industry. She evaluated business proposals and assisted the
young biotech companies in the fundraising process. Christina joined the ABN AMRO Capital
Life Sciences team as an analyst in 2000. Following this assignment she became Principal
before being promoted to Partner. At Forbion Christina is responsible for scouting and analysis
of new investment opportunities as well as general deal execution. Christina currently serves
on the supervisory boards of Forbion’s portfolio companies Amakem NV, arGEN-X BV, and
Pieris AG. In recent years she served on the board of Bioceros, and she was closely involved
with GlycArt AG as a Board Observer (sold to Roche in 2005).
Davide TURCO, Head of Atlante Ventures Fund at Intesa Sanpaolo
http://www.linkedin.com/pub/davide-turco/7/794/a7a
Davide started his career in 1990 at Sige (Italian leading Merchant Bank) where he gained
experience in Equity Capital Market, M&A and Debt-restructuring. Afterwards he gradually
focused on the Private Equity and Venture Capital business at Sige Investimenti where he was
involved in several investments, serving as well as Statutory Auditor in some of the participated
companies (Atlas Concorde, Cofisal, IOE).
In 1995 he joined the Merchant Banking team at Mediocredito Lombardo (then merged in Intesa
Sanpaolo Private Equity team) as Investment Manager. In 12 years he managed 9 investments
(120 mln € invested), the majority of which already divested with largely positive returns: 2
IPO’s (Bolzoni and RDB), 3 trade-sales (ABAC, Mazzoni LB, Valvitalia), 1 replacement (Strand
Tech Martin Inc). Bolzoni investment was awarded Demattè prize “Private Equity of the year
2006 – Expansion”, while Valvitalia was finalist in 2008 edition. He is Board member in Bolzoni
SpA (listed in Milan), H-Farm Ventures, Igea SpA, Materbi SpA, Novamont SpA, Tethis S.p.A.,
Varese Investimenti SpA and Statutory Auditor in Atos SpA.
In 2007 he took the challenge of structuring and developing Intesa Sanpaolo Venture Capital
business, promoting the launch of Atlante Ventures project. Davide is Managing Partner of
Atlante Ventures and member of its Investment Committee since the start of the fund. He is
member of Atlante Private Equity Investment Committee as well.
Born in 1966, Davide holds a Laurea Degree in Business Administration from the Bocconi
University of Milan.
François VALENCONY, Managing Director
http://www.linkedin.com/pub/francois-valencony/2/84b/6b
Francois Valencony started his work experience within Schneider Electric in the USA,
supporting several acquisitions and growth projects for the North American division until
2000. He then actively participated in the build-up of a start-up IT company out of London
in 2000, subsequently acquired by Descartes group. François has been working for Institut
Merieux since 2003, leading several transactions for the group, including an exclusive license
agreement between Roche and Transgene in 2007 and a structured option with Novartis on a
Phase IIB drug candidate. Operational responsibilities included the set-up of the first research
center of bioMerieux in China, focusing on emerging pathogens and the project management
of 5 vaccine programs in the field of infectious diseases and oncology. Francois is currently
General Manager of Merieux Développement, the private equity arm of Institut Merieux
focusing on healthcare investments. François graduated from HEC in Paris and holds a Master
Degree from CEMS out of Köln, Germany.
Ilka Wicke, Investment Manager / Director bei Boehringer Ingelheim Venture Fund GmbH
http://www.linkedin.com/pub/ilka-wicke/13/79/a87
Ilka joined Boehringer Ingelheim in 1996 as head of an interdisciplinary research laboratory
specializing in new drug discovery approaches. She later joined the Corporate Licensing
Division of Boehringer Ingelheim where she over the last 10 years gained extensive experience
in the evaluation, negotiation and the management of global licensing transactions.
Subsequently Ilka joined the Corporate Licensing group as head of the business advisory
teams for oncology, urology and metabolism where she was responsible for the identification
and evaluation of pre-clinical and clinical licensing opportunities as well as structuring and
negotiating technology and licensing agreements. She later joined the transaction group of
Corporate Licensing where she was responsible for the negotiation and conclusion of a variety
of global licensing agreements.
Ilka has a PhD in organic chemistry from the Johann Wolfgang Goethe University in Frankfurt.
Following her graduation she spent a year as a postdoctoral fellow at the Sloan Kettering
Cancer Center in New York investigating retroviral gene therapy approaches to stimulate
antitumour responses.
Mark Wilson, Director, Collaboration Management, Europe, Platform Science and Technology
http://www.linkedin.com/pub/mark-wilson/0/12/a9
Mark Wilson is Director, Collaboration Management, Europe for the pre-clinical development
department of GlaxoSmithKline’s R&D division. He is responsible for technology exploitation
and spin-out creation, working in conjunction with GSK’s SR One venture capital investment
unit, and has led activities to create new companies and to commercialise GSK’s technology
base. Mark has worked for GSK in licensing and business development roles for the last twelve
years, has been involved in over 100 commercial transactions, and has managed portfolios
of major alliances. He originally trained as an engineer and holds a Master’s degree and a
doctorate in chemical engineering from the University of Leeds, in addition to an MBA from
Columbia University and London Business School.
23
p r e s e n t i n g
c o m p a n i e s
p r e s e n t i n g
c o m p a n i e s
index
ABIONIC SA
CH
27
ALZPROTECT
FR
28
ANERGIS
CH
29
BIOATRIX
AUS
30
BIOSOURCING
FR
31
BONE THERAPEUTICS
BE
32
CYTOO
FR
33
DIGITAL MED LAB
CH
34
DNA THERAPEUTICS
FR
35
DORPHAN
CH
36
ECRINS THERAPEUTICS
FR
37
ENTEROME
FR
38
EPITHERAPEUTICS
DK
39
EVEON
FR
40
EYDO PHARMA
FR
41
GENEURO
CH
42
GENKYOTEX
CH
43
GENTICEL
FR
44
GLYCONOVA
IT
45
GLYSURE
UK
46
GMP ORPHAN
FR
47
INNAVIRVAX
FR
48
MINDSEED LABS
IT
49
MIRACOR MEDICAL
AT
50
MOSAIC BIOMEDICALS
SP
51
NEUROTUNE AG
CH
52
PICOSEQ
FR
53
PIXIUM VISION
FR
54
PRESBEASY
FR
55
PRESTODIAG
FR
56
PROBIODRUG
DE
57
REFLEXION MEDICAL
US
58
TROPHOS
FR
59
TXCELL
FR
60
VITAMFERO
FR
61
XELTIS
FR
62
XL-PROTEIN
DE
63
27
Abionic SA
One Line Pitch: ABased on an innovative nanotechnology approach, Abionic has
developed a medical diagnostic device providing fast and low-cost allergy tests.
Business Summary: Abionic will change the game in allergy diagnosis by delivering
with its first product, a novel, versatile in-vitro solution to provide instant quantitative
diagnosis for allergies. Abionic is ISO 13485 certified. The company employs 8 highly
qualified employees, has a strong board of directors and advisory board, and completed
a Series A of EUR 1.6m with institutional investors. Abionic has received 14 awards from
prestigious organisations.
Management: Dr. Nicolas Durand (CEO), founder of Abionic, Dr. Iwan Märki (CTO),
expert in biomedical optics and co-founder, Dr. Annick Mayor (Head of Biology), expert in
proteins and immunology, Dr. Matthias Geissbühler (Medical Science Liaison Manager),
medical technology expert, Mr. Jeremy McTeague (Head of Marketing), experienced
international marketing executive, Mr. Stéphane Broillet (Head of Engineering),
experienced microtechnology engineer.
Customer Problem: Allergy is one of the fastest growing markets, with over 400 million
allergy sufferers worldwide in 2011: the demand for solid, fast and reliable tools in
allergy diagnosis is constantly growing. This need can now be addressed using Abionic’s
novel technology which will ensure that the technical and cost requirements of the point
of care diagnostics market (typically where care is provided in physician offices and
pharmacies) are met.
Product/Services: Abionic will supply physicians with the abioSCOPE, a diagnostic
device that provides fast user-friendly allergy diagnoses. The abioSCOPE is used in
conjunction with one-time use capsules each containing highly advanced biosensor
technology that detects different airborne and food allergies. The Abionic in vitro test is
designed to be a faster alternative to the standard blood tests which need to be analysed
by third party contract laboratories.
Target Market: The target customers are allergists, paediatricians and general
practitioners, who deal with patients presenting allergy symptoms and requiring fast
and accurate causal allergen determination. Importantly, allergy diagnosis represents
a unique and high value market niche worth CHF 5 billion within the global in vitro
diagnostic (IVD) market of CHF 80 billion (2014 projections). The leading company in the
Allergy diagnostics market is Phadia.
Sales/Marketing Strategy: Abionic will generate sale revenues based on a “Nespresso”
business model: the reader will be sold at cost and the margin will be realized on
single-use capsules that will be reimbursed according to insurance and governmental
reimbursement codes.
Business Model: Abionic’s business strategy takes a consumables-based approach,
meaning that revenues are obtained by selling single-use allergy tests (capsules). The
biosensors are biologically processed in-house using Abionic’s proprietary biochemistry
and packaging. Sales will be realized through a tight network of specialized medical
device distributors selling directly to physicians and point-of-care drug stores and
pharmacies.
Competitors: Abionic’s unique selling proposition is its ability to deliver to physicians
and other medical practitioners, quantitative results at their own premises, within
a few minutes and at a very low price. Another key advantage is that the patient can
receive immediate appropriate medical treatment as the test results are produced
almost immediately in contrast to other systems where the patient must wait days for a
laboratory to conduct the analyses.
Date of profitability: The company is expected to achieve break-even in early 2015 and a
subsequently profitable sales-led growth is forecast.
Expected date of exit (and related strategy): Exit is expected in early 2016 (tradesale).
Describe the protectability and sustainability of your technology advantages:
Abionic’s unique selling proposition is its ability to deliver to physicians and other
medical practitioners, quantitative results at their own premises, within a few minutes
and at a very low price. Another key advantage is that the patient can receive immediate
appropriate medical treatment as the test results are produced almost immediately in
contrast to other systems where the patient must wait days for a laboratory to conduct
the analyses.
Company Profile:
URL:
http://www.abionic.com
Industry: Medical Devices and Equipment
Employees: 8
Founded: Oct-04-2010
Contact:
Nicolas Durand
[email protected]
Location:
Parc Scientifique EPFL, PSE-B
Ecublens, VD 1807
Switzerland
Financial Information (CHF):
Company Stage: Prototype Ready
Previous Capital: 2,600,000
Capital Seeking: 10,000,000
Management:
Iwan Märki, Dr.
Nicolas Durand, Dr.
28
Alzprotect
One Line Pitch: Alzprotect is a biotechnology company developing innovative
therapeutic solutions for neurodegenerative diseases.
Business Summary: Its main lead molecule, AZP2006, intended for the treatment of
Alzheimer disease (AD) and possibly Frontotemporal Dementia (FTD) has achieved
proof of concept in animals and will enter clinical Phase 1 in early 2013. Alzprotect
intends to license or sell the asset following clinical studies.
Management: Philippe Verwaerde, CSO, CEO, has obtained a PhD in 1991. He has
since, pursued an international career in both Biotech and Pharma industries. He
has worked in USA, Italy, France, Belgium and Sweden. His 20 year experience in
developing drugs is complemented by an entrepreneur side whereas he co founded
two biotech companies, namely Vivactis (Be) and Inovacia (Sw).
Customer Problem: Alzheimer’s disease affects patients over 65 years of age.
Current medications treat the symptoms of Alzheimer’s disease but do not change
its underlying progression, creating an urgent unmet medical need.
Product/Services: Alzprotect’s main candidate drug AZP2006 has been shown to act
on both causes of Alzheimer disease: respectively the AMYLOID and TAU pathways.
AZP2006 is the Only known drug acting on Both sides wheeras competition drugs
act on either ones; therefore making it a unique potential solution to prevent the
disease.
Target Market: In 2005, the total cost worldwide was estimated at 240 billion €. The
estimated world market for a curative drug is 50 billions €.
Out licensig deals for alzheimer candidate drugs after clinical phase 1 averages at
41 million USD as upfront payment, 300 million USD as milestone payments and
10% royalties on sales.
Customers: Pharmaceutical companies actively looking to in-license anti alzheimer
compounds such as Roche, Sanofi, Elli Lilly, Pfizer, Lundbeck, Takeda, Astra Zeneca,
Novartis, Merck Serono (etc...)
Sales/Marketing Strategy: For AlzProtect products, high price are expected,
because:
The company proposes drug candidates that have the potential to fulfill the large
unmet medical needs in Alzheimer disease.
Their mechanism of action is original Pharmas are eagerly looking for new products
to in-license.
Alzprotect intends to out license its product in 2013 aiming at at 15 million € deal as
upfront payment. We are in contact with 10 potential pharma partners.
Business Model: The objective for AlzProtect is to develop drug candidates up to
clinical phase and to license them to Pharmas. Revenues will come from UpFront,
Milestones and Royalty Payments.
Competitors: Most Pharma and more than 30 biotech companies are developing
candidate drugs to fight Alzheimer’s disease. Most of them target the AMYLOID
pathway. Some other target nthe TAU pathway. No company is targetting both
pathways, so far.
Competitive Advantage: Alzprotect has licensed two patent patents protecting the
only candidate drug which has shown proof of concept in animals acting on both
AMYLOID and TAU pathways.
Who are the current investors: Regional seed funds: Inovam and Finorpa;
University of Lille 2 (Health), Private investors
Capital raised to date: 1 985 000 €
Date and valuation of the last financing round: January 25th 2013 ; 4 713 142 €
Expected date of next financing round and main use of proceeds: June-September
2013, Round A financing, Clinical Phase 1
Date of profitability: 2016
Expected date of exit (and related strategy): 2016-2017: deal with pharma industry
partner as outlicensing or company sale
AlzProtect has licensed exclusive rights for compounds (including AZP2006)
protected by the patent PCT IB2005/053676. A selection patent for AZP2006 has
been filed in Dec 2012. 4 Additional patents protecting AZP2006 and other molecules
will soon be filed.
Company Profile:
URL:
http://www.alzprotect.com
Industry: Biotechnology
Employees: 9
Founded: Nov-01-2007
Contact:
Philippe VERWAERDE
[email protected]
Location:
Bioincubateur, 70 rue du Dr Yersin
Loos, Nord-Pas-de-Calais 59120
France
Financial Information (EUR):
Company Stage: Product In Development
Monthly Net Burn: 100,000
Pre-money Valuation: 4,700,000
Management:
Gilbert Clincke,
Medical Affair Director
Pierre-Yves Aubert,
Finance manager
Philippe Verwaerde,
CEO
Stéphane Burlet,
Preclinical study manager
Cécilia Estrella,
Neurobiologist
Advisors:
Lawyer: Thomas Buffin,
cabinet Bignon Lebray
Accountant: KPMG, François Bloch
Investors:
Inovam
Finorpa
Université de Lille 2
Referred By:
Jean Marc Soustre (Humaneye) et
Thierry Merquiol (Wiseed)
29
Anergis
One Line Pitch: Anergis is a clinical stage Swiss biotech developing breakthrough
allergy vaccines for ultra-fast and safe desensitisation in only 2 months
Business Summary: Anergis SA discovers and develops breakthrough allergy
vaccines targeting the most frequent allergies, based on its proprietary Continuous
Overlapping Peptides technology. Anergis leadproduct is in Phase IIb clinical
development with efficacy and safety results expected by August-Sept 2013. Anergis
has two more allergy vaccines in preclinical development against house dust mites
allergy and ragweed allergy.
Management: Vincent Charlon CEO, Christophe Reymond, CSO, Francois Spertini,
Allergy Medical Expert, Jean Paul Rohmer, Director BD, Eva Castagnetti, Director
Product , Gilles Della Corte Director Clinical , Zoltan Czigler, Director Finance,
Gerard Farmer, Director Regulatory Affairs. ANERGIS MANAGEMENT has extensive
and complementary biotech and pharma experience and gathers all key required
skills to develop its proprietary allergy vaccines.
Customer Problem: Huge medical need for better allergy treatments - 500 M
patients affected in industrialized countries.Anergis brings a gamechanging
treatment allowing to desensitize patients in 2 months (5 SC injections) instead
of 3-5 years (50 injections or 500-1000 oral doses). The allergen immunotherapy
market and players are rapidly evolving and several top ten Pharma have recently
entered the field as one of the most attractive future growth areas.
Product/Services: 1) AllerT. Allergy vaccine for allergy to birch pollen. In Phase IIb
clinical development until August-Sept 2013 - 2) AllerR. Allergy Vaccine for allergy to
ragweed pollen. In preclinical development, should enter clinical stage in 2014 - 3)
AllerDM. Allergy Vaccine for allergy to house dust mites. In preclinical development,
should enter clinical stage in 2014.
Target Market: 500 M allergic patients, of whom 100 M are severe and potential
candidates for Anergis vaccines. Anergis products will be designed for specialists.
Anergis will likely be acquired by a larger pharma player prior to commercialisation
of its vaccines.
Customers: SIT market is currently ~1 billion € of the 10 billion € annual allergy
market. The market has been growing 8% per year in the past 10 years and should
grow even faster with novel therapies such as the one developped by Anergis
Sales/Marketing Strategy: Anergis will be acquired by a larger pharma before
commercialisation. Anergis vaccines will be sold by specialized allergy doctors
who currently prescribe and conduct long desensitization protocols. Anergi short
treatment should increase patient satisfaction and compliance and should lead to
a significant increase of allergic patients accepting desensitization because of its
greatly improved convenience.
Business Model: Anergis will establish long term partnerships for developement
which should lead to a trade sale prior to commercialisation. A trade sale may also
occur instead of partnering any product.
Competitors: Stallergenes and ALK Abello are the market leaders with products
requiring 3-5 years of treatment.
Allergopharma, now part of the Allergy Business Unit of Merck Serono/Merck AG,
is the third largest allergen manufacturer. Other companoies developing -or trying
to develop- short-acting allergy vaccines are Biomay (Austria) and Circassia (UK).
Recently Merck Inc. and Sanofi have entered the field as well.
Competitive Advantage: A disease modifying effect similar to 3 years of treatment
with conventional methods can be achieved with Anergis vaccines with only 2
months of treatment
Who are the current investors: see profile
Capital raised to date: 22 million CHF
Date and valuation of the last financing round: March 2011, 18 M CHF, 15.- per
share, current post money ~29 M
Expected date of next financing round and main use of proceeds: Round B
planned in Q3 2013 to finance Phase III development of lead product with or without
pharma partner. Proceeds would also be used to advance next 2 products through
clinical Phase I/IIa and Phase IIb.
Date of profitability: First commercial launch 2017-2018 but Anergis does not plan
to commercialize products alone at this time. A trade sale to a larger pharma is
much more likely and such contacts are already ongoing.
Expected date of exit (and related strategy): Targeted exit by trade sale in 2016 or
earlier if during Phase III
Strong patent protection for the technology and each of the products devlopped by
Anergis. First patent would expire at the earliest in 2029
Company Profile:
URL:
http://www.anergis.ch
Employees: 10
Founded: Jun-15-2001
Contact:
Vincent Charlon
[email protected]
Location:
Route de la Corniche 9B
CH-1066 Epalinges
Epalinges, VD
Switzerland
Company Stage: Product In
Development
Management:
Francois Spertini,
Allergy Medical Expert
Jean Paul Rohmer,
Director Business Development
Christophe Reymond,
CSO
Vincent Charlon,
CEO
Advisors:
Lawyer: Carrard et Associés, Lausanne
Accountant: Ernst & Young
Investors:
BioMedInvest, Sunstone Capital,
Renaissance PME/Vinci Capital
Esperante Ventures, Defi
Gestion/Initiative Capital Romandie
Private investors
Referred By:
Jean-Marc Soustre - Humaneye
30
bioatrix
One Line Pitch: Bioatrix is repositioning activated Protein C as the new standard
treatment for wound healing of chronic ulcers and burn injuries.
Management: Bioatrix has experienced and well qualified executives managings
the scientific, clinical and commercial facets of the company Customer Problem:
Chronic or no-healing wounds are an unmet medical need which activated Protein C
can address
Product/Services: Bioatrix is a biotech company currently entering Phase II trials of
activated Protein C in wound healing
Target Market: The global wound care market is estiamted to be between $20 to
$35 billion per annum
Sales/Marketing Strategy: Assuming Bioatrix achieves positive Phase II results,
the company will look to partner with or sell to a major pharma company.
Business Model: Revenue will be derived from the sale of activated Protein C into
the wound care markets.
Competitors: There are a small number bio-engineered skin substitutes products
including Shire’s Dermagraft. There is also CoDa, a biologics wound healing
company at a similar stage of development to Bioatrix.
Competitive Advantage: aPC is the only know molecule which promotes
epithilialisation whilst also being anti-inflammatory. Biaotrix has wound healing
patents out to 2022 and a patent in Inflammatory skin disorders out to 2032.
Bioatrix also has the exclusive manufacturing rights and technology from Eli Lilly &
Company including the aPC Working Cell Bank and Master Cell Bank, plus exlcusive
rights to the currnet stock of aPC being 3,000 grams.
Who are the current investors: All of Bioatrix’ Executives
Capital raised to date: $150,000
Date and valuation of the last financing round: N/A
Expected date of next financing round and main use of proceeds: February 2013,
Series A of $12 million. Lilly up-front payment of $4.5 million, corporate costs of
$2.0 million and $5.5 million for clinical trials.
Expected date of exit (and related strategy): 2016
aPC is the only know molecule which promotes epithilialisation whilst also
being anti-inflammatory. Biaotrix has wound healing patents out to 2022 and a
patent in Inflammatory skin disorders out to 2032. Bioatrix also has the exclusive
manufacturing rights and technology from Eli Lilly & Company including the aPC
Working Cell Bank and Master Cell Bank, plus exlcusive rights to the currnet stock
of aPC being 3,000 grams.
Company Profile:
URL:
http://www.bioatrix.com
Employees: 10
Founded: Mar-14-2012
Contact:
Jay Hennock
[email protected]
Location:
level 10, 234 george st
Sydney, nsw australia 2000
Sydney, NSW
Australia
Financial Information (USD):
Previous Capital: 150,000
Management:
Jay Hennock,
Chief Executive Officer
Marc Feldmann,
Scientific Advisory Board Member
Andrew Boulton,
Scientific Advisory Board Member
Andrew Sandes,
Chief Financial Officer
Meilang Xue,
Research Manager
Advisors:
Lawyer: Herbert Smith Freehills
Accountant: Crowe Horwath
Referred By:
Roman Fleck
31
BioSourcing
One Line Pitch: The company develops and manufactures therapeutic biomolecules
for animals and dietary additives in livestock.
Business Summary: Bio-Sourcing is the first company using a breakthrough and
exclusive technology for the discovery, the development and the production of
biomolecules faster and cheaper than current technologies. Based in Europe, the
Company has secured strategic alliances in the US and in Brazil, allowing to be
already operational for R&D and biomanufacturing. Thirteen initial products with short
pre-commercial cycles are planned in the Company’s pipeline.
Management: The Company leadership is composed of five Senior Executives with
a long-standing international experience in all aspects of bio-manufacturing from
development to industrial scale manufacturing and from candidate product selection
to commercial partnering. They combine tens of years of hands-on management
of the most advanced, fully-integrated facility with a track-record of over 40 biomolecules produced up to the kilogram scale
Customer Problem: There is an increased global demand for a supply of innovative,
efficient but affordable, biomolecules and the need to convert, proven human solutions
into animal modalities. Most of these innovative biomolecules have already been
developed, thanks to biotechnology, in human medicine. However, it is necessary that
these molecules be produced cheaper, faster, and with limited capital expenditures.
Product/Services: BioSourcing serves Animal Health by transfering biologicals,
already validated and/or developped for human applications. To this end, Bio-Sourcing
is the first company to implementing the exclusive «Milk recombinant Proteins
Platform « (MrP2) enabling the production of biomolecules faster and cheaper than
current technologies. The BioSourcing pipe is comprising monoclonals, hormones and
blood proteins, Three of them are in late stage development.
Target Market: With annual sales of $ 20 billion, the Animal Health market has a
similar «risk / benefit» profile than that of human health. Furthermore, with net
operating margins of 25 to 30%, the profitability of the veterinary sector is as high as
that of human health. The Animal Health Biotechnology industry is in the growth stage
of its industry life cycle for several years. it benefits from a high growth of around 8%
to 12%.
Customers: The industry has a medium level of market share concentration, with the
top four companies estimated to hold 60% of the market. The major pharmaceutical
companies, such as Pfizer, Sanofi/Merial and Merck and Co., hold the majority of
the market. The outsourcing of some R&D functions from larger pharmaceuticals
manufacturers allows smaller companies to compete in the industry. Biotech firms
will be the main beneficiaries of this drive.
Sales/Marketing Strategy: The objective is to have a marketing partner, actively
involved in the market, during the registration phase and at product launch as
exemplified by the two on-going contracts. During the commercial phase, the partner
will be responsible of the marketing of the final drug, while BioSourcing will be
responsible of the production of the active compound. BioSourcing can thus secure
early and long term revenues.
Business Model: The Bio-Sourcing model is one of joint development for each of its
projects/products. BioSourcing has validated this approach by signing two agreements
with a top-tier global player in Animal Health. Indeed, Bio-Sourcing’s revenue model
is based more on royalties from sales of the finished product than on the margin made
from the sale of the active pharmaceutical ingredient.
Competitors: For the moment, there is no already identified competitor offering
the same technology. Nor also competitor for the first products developed with the
partner of BioSourcing. By cons, there may be competition, on certain therapeutic
indications, targeted by certain proteins of the BioSourcing pipe, by molecules other
than recombinant proteins, as for example an anti-inflammatory made by chemical
synthesis.
Competitive Advantage: BioSourcing holds exclusive worldwide rights from GTC
(rEVO Biologics, MA. USA), world leader in the production of biopharmaceuticals
by genetic recombination, in the milk of higher mammals such as cows and goats.
GTC has a portfolio of 22 patents and 16 licenses. GTC operates in the field of human
health and has already produced over 40 recombinant proteins. The BioSourcing
exclusive rights are for animal health and nutrition.
Date of profitability: 2017, Cash Flow = 1.132 K€ and 2020, Cash Flow = 10.394
K€, profitability 23% expected date of exit (and related strategy): 2017 = Year of
profitability. Strategy 1 = Industrial Cession (to customer/partner). Strategy 2 = LBO/
LMBO, Strategy 3 = Reverse Merger, Strategy 3 = IPO (EuroNext and/or Bovespa
(Brazil) and/or Nasdaq)
BioSourcing holds exclusive worldwide rights for animal health from GTC (rEVO
Biologics, MA. USA), world leader in the production of biopharmaceuticals in the milk
of higher mammals. The Technology is already validated in human medicine. This
leadership has been acquired during 22 years of experience, Initially spin-off of MIT
in Boston, giving a unique Know How. This technology benefits from a portfolio of 22
patents and 16 licenses.
Company Profile:
Contact:
Bertrand MEROT
[email protected]
Location:
1 Allée Bernadotte
Paris, IdF 92330
France
Company Stage: Full Product Ready
Management:
Bertrand Mérot,
PhD MBA, President and CEO
Pr. João Bosco Pesquero,
CSO
Investors:
GTC / rEVO Biologics
LFB
32
Bone Therapeutics
One Line Pitch: Bone Therapeutics is a private Walloon company focused on cell
therapy for bone diseases.
Business Summary: Development of novel therapeutic bone cell products
administrable by a minimally invasive technique for the treatment of invalidating
bone diseases. Bone disease and reconstruction market is one of the largest
healthcare markets in the world, with more than 4M procedures requiring bone
grafts annually. Bone Therapeutics is operating in areas where demand for new
products is high and competition is low.
Management: Dr Enrico Bastianelli (CEO, MD, MBA), Professeur Valérie Gangji (MD,
PhD)
Customer Problem: Bone diseases targeted by Bone Therapeutics, such as
nonunion and osteonecrosis, are extremely disabling, often incurable and require
highly invasive surgery that are associated to complications. The products offered by
Bone Therapeutics are particularly promising due to their high efficiency and their
minimally invasive administration method.
Product/Services: PREOB®, autologous bone cell product, in Phase III clinical trials
for the treatment of osteonecrosis and non-union fractures. ALLOB®, allogeneic
bone cell therapy product, about to enter the clinic. MXB, combined cell-matrix
product for the treatment of large bone defects, in preclinical development. Bone
Therapeutics’ products are manufactured to GMP standards, comply with all
regulations and are protected by a rich IP estate.
Target Market: The bone reconstruction market grows by 15% annually, due to (i)
an aging population that lives a more active life, (ii) interventionfocused medical
and surgical interventions promoting the preservation of limbs rather than
amputation. For the EU and US alone, over 2 million patients are eligible to use Bone
Therapeutics’ cell products (according to epidemiological studies).
Customers: Products developped by Bone Therapeutics target young patients (2050 years old) with severe trauma (non-union fractures with around 400000 cases /
year) or degenerative bone disease (osteonecrosis with 200,000 cases / year). These
diseases are supported by orthopedic surgeons in trauma and/or hip surgery units
in large or medium size hospitals.
Sales/Marketing Strategy: Bone Therapeutics will develop small but efficient
«product specialists» teams to visit prescribers (orthopedic surgeons: 200 for
the whole of Belgium). They will also be in charge of marketing and promoting
our products. In parallel, Bone Therapeutics will give presentations at local and
international conferences where ‘key opinion leaders’ are present to support their
marketing efforts.
Business Model: BT supports a stand-alone strategy primarily in Europe, with
potential partnerships for the USA and Japan (license or joint venture). In parallel,
in order to support its development, BT is setting up a production platform in
Gosselies. Revenues will come from the sales of its products once they have been
approved.
Competitors: Bone Therapeutics is the international leader in cell therapy for bone
diseases. Indeed, PREOB ® has no competitor for the treatment of osteonecrosis
and has been granted an orphan drug designation (market exclusivity of 10 years
EU and USA). For non-union fractures, only bone grafts and Osigraft (heavy surgery)
compete, but no other products are under development.
Competitive Advantage: Bone therapeutics products’ characteristics, mechanisms
of action (differentiated osteoblastic cells) and method of administration (no open
surgery) make them unique in their category. They are also protected by 13 patents,
two orphan drug designations (EU & US) and 2 Trademarks.
Date of profitability: First revenues expected in 2018.
Expected date of exit (and related strategy): Current stand-alone strategy with
potential partnership with the US and Japan, possible exit through IPO or tradesales
(time horizon: 2016-2018)
Stong Intellectual Property portfolio (13 patents, 2 orphan drug designations (10
year market exclusivity in EU and US), 2 Trademarks). In addition mixed with trade
secret on manufacturing/production – making barrier to entry very high.
Company Profile:
URL:
http://www.bonetherapeutics.com
Employees: 40
Contact:
Noemie Nkejabega
noemie.nkejabega@
bonetherapeutics.com
Location:
8, rue Adrienne Bolland
6041 Gosselies
Charleroi, Walloon Region
Belgium
Management:
Valérie Gangji,
MD, PhD
Enrico Bastianelli,
MD, MBA
Advisors:
Lawyer: Stibbe Law Firm
Accountant: Myriam Piscitello
(FinancialManager), Deloitte et Mazars
(Commissaires aux comptes)
Investors:
Theodorus, La Compagnie du Bois
Sauvage, Sambrinvest, BAMS Angel
Fund I
Nausicaa Ventures, La Société
Régionale d’investissement de Wallonie
(SRIW)
Life Science Research Partners,
investisseurs privés
33
CYTOO
One Line Pitch: From Cells to Health – more physiologic cell cultures through
morphogenic cells guidance
Business Summary: CYTOO, a distinctive Life Sciences Systems/ Tools enabling
company, provides a disruptive solution that brings predictivity, robustness and powerful
quantification to cell-based assays. 2D+ technology offers exquisite control over the cells’
microenvironment, leading to normalized cells getting back to their in vivo structures
and behaviors. CYTOO products & services are key to Pharma/Biotech Drug Discovery,
StemCell Research & Systems Biology
Management: François Chatelain, CEO. 25y in Life Science Tools & Research in
Microtechnology, in France & USA, in Academia & Industry - Alexandra Fuchs PhD, COO.
16y at CEA, Ecole Centrale Paris (French Ivy League) and PhD in Cell Biology - Michel
Bornens PhD, CSO. Pasteur & Curie Institutes, 170 publications. Laurence Fayand, CFO.
> 20 years in corporate finance in multinationals and startups - Olivier Pasquier, MBA,
Chief M&S Officer.
Customer Problem: High Content Screening (HCS) uses living cells as tools in biological
research to discover and optimizes new drug candidates. Still, gains in Predictivity of cellbased-assays are necessary to spur the growth of the HCS segment. The main identified
bottlenecks are 1) Poor physiological relevance of current screenable in vitro Cell Models
& 2) Lack of data robustness arising from intrinsec cell-to-cell heterogeneity in cell
culture.
Product/Services: CYTOO 2D+; 1) A potfolio of innovative products with proprietary
adhesive micropatterns technology for cell culture applications and Cell-Based assays &
2) Targeting the fast growing High Content Screening segment, 2D+ Solutions are Experts
Services to accompany our Pharma clients in accomplishing their Cell-Based Drug
Discovery goals.
Target Market: Our offer is tailored to first target the fast growing Cell-Based assays
segment which is forecast to cross US$1.5 billion by 2017. Principal driving factors include
growing demand by DD companies for the expansion of their drug portfolios; increased
usage as a preferred tool for screening potential drug compounds; and increase in the
number of drug targets identified through genomics and proteomics applications. Global
Industry Analysts 2012
Customers: 1) PHARMA/BIOTECH/CROs potential upsides with COSMECEUTICALS
Research; Pre-Clinical Research in ONCO/NEURO/TOXICO in TOP Pharma & Selected Mid
size BIOTECH/CROs including Desease Areas, Assays Development & Screening, Drug
Safety Assessment Teams. Segment covers 50% of HCS demand and drives 12% CAGR
in US & EU. 2) ACADEMIC SCREENING PLATFORMS: >100 in US & EU 3) CORE CELL
BIOLOGY LABS; 40 000 WorldWide, Stem Cells & Systems Biology focus.
Sales/Marketing Strategy: M&S is composed of high level seasoned Experts in IND
market introductions, Cell- Based Technologies and HCS totals 25+ individuals in
commercial development incl. CYTOO’s Marketing & Applications groups and Sales
partners PharmaNest US & Novoptim EU. TOP 15 Pharma are targeted first with 2D+
Solutions. 300 academic customers base is growing on educational, events, internet,
branding and inside sales activities.OEM & distribution are planned.
Business Model: CYTOO operates a Scalable Industrial Microfab Plant which can deliver
multi-million € of manufactured products. Substantial economy of scale is anticipated at
large volumes leading to high product margins on mid- to long- term. Pharma conversion
is achieved through outsourced proof of concepts, assay development and validation
projects, thus ‘2D+ Solutions’ as expert-services tailored to Drug Discovery clients.
Competitors: 1) Principal competitors are 3D Cell Culture Technology Providers - i.e. In
Sphero, 3D BioMatrix. 3D cell culture is reputed more physiological but less throughput.
2) Small commercial shops with advanced micropatterned products such as Hepregen Inc
(liver) & Alperys Inc (neurons). 3) Home brew micropatterns (Academia)
Competitive Advantage: A Unique Solution: by restoring spatial information through
the control of cells’ adhesions in vitro, we mimic cells’ in vivo shape, interior design
and physiological behaviors, thus making cellsbased assays more predictive. CYTOO
is pioneering the realm of cells micro-environment exquisite control in a Dominant
IP position and as a licensee of the Institut Curie and CNRS exclusively and Harvard
University & CEA.
Who are the current investors: CEA Investment (Grenoble FR), Rhône Alpes Creation
(LYON FR), Expansinvest (Grenoble FR), Auriga Partners (Paris, FR), SHAM (Lyon FR),
Entrepreneurs Fund (London UK)
Capital raised to date: 11.2 Million Euros in 3 rounds (1, 3.2 and 7 Million Euros)
Date and valuation of the last financing round: November 2012, 13.5M€ postmoney
valuation
Expected date of next financing round and main use of proceeds: MID 2014. Main uses
are Marketing and Innovation (Intellectual Property filings and acquisitions). Contemplated
growth by merger with complementary solutions provider (ie IPS cells/markers).
Date of profitability: Not in next 3 years
Expected date of exit (and related strategy): Company is a target for acquisition, exit can
happen anytime.
Describe the protectability and sustainability of your technology advantages: Our
Innovation is patented and most applications are patentable. The first patent (CURIE/
CNRS) is generic and claims are strong and holding. Additional patents are filed by CYTOO
(4 new applications to date). In general, manufacturing processes are -kept secret.
Company Profile:
URL:
http://www.cytoo.com
Employees: 26
Contact:
François Chatelain
[email protected]
Location:
Grenoble, RA 38040
France
Company Stage: $500K - $1M in Trailing
12 Mo. Revenue
Advisors:
Lawyer: ALCYA CONSEILS, GRENOBLE
Investors:
AURIGA PARTNERS
ENTREPRENEURS FUNDS
SHAM
Referred By:
Franck Lescure
34
digitalMedLab
Business Summary: We develop mobile healthcare applications for the professional
management of chronic conditions such as chronic wound. With WoundDesk, Health
Professionals, nurses and medical doctors, can track the wound healing process
everywhere and at anytime. Using a tablet, they can measure the surface of the
wound and create a wound medical report. The advantages: less errors, more rapid
access to medical data, better health care and it’s time saving.
Management: A managing team working well together. At digitalMedLab we
are 2 co-founders with Patricia as CEO. She is a medical doctor with 11 years of
experience and brings skills in surgery, public health, telemedicine and project
management. Andreas, studied architecture but today is an entrepreneur and
software developer with over 12 years’ experience by leading a successful internet
company in Zurich, with clients like CS, BASF, UBS, IBM, and Novartis.
Customer Problem: Health professionals are increasingly under pressure. Time
saving and quality of care services are the major issues. To achieve this goal
digitalMedLab builds mobile-based clinical decision support systems (DSS), crafted
software applications with a high usability standard that requires minimal learning
time and contains all the relevant features to make them essential clinical tools.
Product/Services: While other mobile health applications only offer a
documentation tool, we propose an unique mobile clinical decision support
system based on : - Automated Wound Measurement - Patient Reports -Secure
data exchange and Communication -Interoperability - Great Usability - Medical
Guidelines & Informations -Management of patient scheduling & appointments
-Real Time Data-Analysis.
Target Market: The European mobile health market will be lead by 2 countries in
2017, Germany with revenue of 1 billion US$ and France with revenue of 0.8 billion
US$. Switzerland and Austria together will probably amount to about 0.1 billions
US$. Of the 1.9 billions US$ revenue, the percentage share for medical software is
about 10% representing a market potential of 190 millions US$.
Customers: Health Professionals represent our main market. They can be working
in very diverse settings such as nursing homes, home care agencies, hospitals and
medical practices. For this market decision and selection of the clinical tools are
not made by the users themselves but by decision makers in institutions, such as
Hospitals Directors for example. One client provides several users, usually between
50-200.
Sales/Marketing Strategy: Several strategic objectives have been chosen: Small
in house team, collaborating with external suppliers. A quick launch is important
for us in order to get an early feedback from end-users. High loyalty through
subscription model, and we plan to launch new features and services through out
over the year.
Business Model: We sell annual subscription. The end-user is mostly not the
decision maker, this is the reason why our marketing strategy will address both
groups, decision maker such as hospital directors and Health Professionals. To
contact them, we will take part to all the important medical related congresses and
events. For the decision makers we will develop a direct sales force and contact
them using direct marketing.
Competitors: The main direct competitors for +WoundDesk are represented by
3 companies, most of them were launched in 2011 and only one is dedicated to the
European market.There are several, very fragmented, potential indirect competitors:
•Companies developing wound care software
•Mobile health application developers
•Health companies including insurance companies and the pharmaceutical industry.
Competitive Advantage: The highly populated European market as of today is
fairly free of operational competitors. Nevertheless there are several groups of
potential competitors, ranging from small start-up companies to big pharmaceutical
companies. To differentiate us from our competitors we intend to use an aggressive
marketing strategy, particularly for the decision makers, such as hospital directors
and nursing home directors.
Date of profitability: we plan to reach break even on 2016
Expected date of exit (and related strategy): The exit will be considered at the
moment we reach 10 millions net income, we assume in 10 years.
products come in the group SAAS, with limited patent opportunity. The protectable
technology is linked to the mobile image processing.
Company Profile:
URL:
http://www.digitalmedlab.com
Industry: Healthcare Services
Employees: 3
Contact:
Patricia Sigam
[email protected]
Location:
Technoparkstrasse 2
8406 Winterthur
Zurich, ZH
Switzerland
Capital Seeking: 330,000
Management:
Patricia Sigam,
Dr.med.
Andreas Lorenz
35
DNA Therapeutics
One Line Pitch: DNA Therapeutics develops targeted drugs against resistant cancer, with
a lead IMP showing antitumor activity and good tolerance in phase I.
Business Summary: DNA Therapeutics is a spin-off of the Institut Curie, INSERM, CNRS,
MNHN. It develops a new class of targeted drugs against resistant cancer based on a novel
concept Dbait. Its lead DT01 has already shown antitumor activity with good safety and
tolerance in patients (phase I). The ability of DT01 to improve the efficacy of existing cancer
therapies without additional toxicity makes it a promising drug to address the unmet
needs in many cancers.
Management: Prof. Jian-Sheng Sun, co-founder, co-inventor, has managed DNA
Therapeutics from scratch to clinical stage, and executed a translational 1st-in-class
drug development from a paradigm-shift concept to clinic, with the help of a virtual
management team aggregating skills from early stage drug development, chemistrymanufacture-control, regulatory affairs, and Key Opinion Leaders in oncology.
Customer Problem: Cancer cells, especially at the advanced stage, have enhanced
capacities to recognize, signal and repair DNA damage inflicted by genotoxic treatments,
thus confer the resistance to conventional cancer therapies. The inhibition of DNA repair
makes them sensitive to genotoxic radiotherapy and chemotherapy, therefore restores
their efficacy. DNA repair pathways have already been recognized as ubiquitous and
proven targets in cancer therapies.
Product/Services: A new class of targeted anticancer drugs based on a new concept
which jams DNA damage sensing and signaling by using a short DNA fragment mimicking
a DNA lesion. Dbait is the 1st family which interferes with the repair pathways of DNA
double strand breaks (DSB), therefore inhibits DSB repair activities. Dbait is not a classic
inhibitor, but a novel class of targeted drug which acts on a cascade of proteins involved in
DSB repair.
Target Market: Cancer at advanced stage, resistant to conventional cancer therapies,
is a multi billon $ market. DNA Therapeutics has a stepwise approach. This provides an
accelerated, biological activity guided, derisked clinical development from niche/ orphan
drug designation to large indications, from local to systemic therapy, and by selecting
the pre-operatively treated indications with quick clinical & regulatory endpoints for
accelerated market approval.
Customers: In an ideal scenario, DNA Therapeutics would first look for early stage
partnering in regional, emerging markets, likely in Asia, focused on Asia prevailing
cancers, such as liver cancer, in order to accelerate its development and value creation,
while preserving its valuation for global partnering at a later stage of development.
Sales/Marketing Strategy: First focus on the locally advanced cancer eligible to orphan
drug designation in EU and in USA, that can be benefited from regulatory support, quicker
time-to-market, higher perceived benefit, thus higher pricing. Then the extension to other
major oncology indications for full value creation.
Business Model: DNA Therapeutics’ mission is to fill the gap between the translational
research of a new class of DNA repair inhibitors (Dbait) and their late stage drug
developments. Convinced of the large potential of Dbait technology platform, early stage
partnering is a part of DNA Therapeutics’ business model and strategy for sharing risks,
leveraging resources and competences to achieve full market value of Dbait, as well as
shortening time-to-market.
Competitors: In general, oncology is a highly competitive field. The products with orignal
mechansim of action have better advantage. Compared to PARP inhibitor, Dbait acts at
DSB sensing and signaling, the upstream common to all repair pathways, rather than at
the downstream by inhibiting a kinase/ repair enzyme involved in a particular pathway,
Therefore Dbait can block all DSB repair pathways, whereas a kinase/enzyme inhibitor can
only inhibit one pathway.
Competitive Advantage: The main competitive advantage of Dbait/DT01 is its ability to
improve the efficacy of existing cancer treatment without additional toxicity for the benefit
of patients. The emergence of drug resstance is very unlikely due to Dbait’s mechanism of
action.
Who are the current investors: SEFTI, G1J IdF, ITI, Businnes Angels Capital raised to
date: 6 million euros in seed and A rounds.
Date and valuation of the last financing round: December 2012, 7.5 million euros
Expected date of next financing round and main use of proceeds: 2013, about 10 million
euros mainly for further developing DT01 in the mid-stage of hepatocellular carcinoma
in association with transarterial chemoembolization, and in the locally advanced breast
cancer in combination with neoadjuvant radiotherapy.
Date of profitability: Although drug development is a long run, DNA Therapeutics’
business model does not include late stage drug development, market approval &
commercialization. It will monetize its innovation at mid stage drug development. 2016-17
should be profitable by trade sale.
Expected date of exit (and related strategy): According to DNA Therapeutics’ business
model, Trade sale is the preferred exit expected in 2016-17.
Describe the protectability and sustainability of your technology advantages: Dbait
molecules and their applications in cancer are protected by 3 patent families owned by 4
French research institutions from where DNA Therapeutics span out, 2 patent families
co-owned by the Company. 3 issued in US, 2 issued in AU and EA, 1 issued in EU, JP, CN.
Dbait molecules have freedom-to-operate. The patent lifespan of DT01 in development is
until 2031. The Company holds the exclusive worldwide license of this IP portfolio.
Company Profile:
URL:
http://www.dna-therapeutics.com
Employees: 8
Contact:
Jian-Sheng Sun
[email protected]
Location:
4 rue Pierre Fontaine
Évry, IdF
France
Management:
Jian-Sheng Sun,
CEO
Advisors:
Lawyer: EGIP, Paris
Accountant: AVVENS, Lyon
Investors:
SEFTI
G1J IdF
ITI
Business Angels
36
Dorphan
One Line Pitch: Identification of small molecules for the treatment of orphan genetic
diseases, and their preclinical development through outsourcing
Business Summary: DORPHAN is a Swiss biopharmaceutical company developing
innovative medical solutions for rare diseases. The company operates by identifying,
acquiring and further developing promising early stage research programs. The main
objective of DORPHAN is the constitution of a portfolio of drug candidates for the
treatment of orphan diseases, followed by the development of these molecules up to a
deal point for out-licensing to pharmaceutical companies.
Management: The Board of Directors of DORPHAN is composed of Me Dunant, Mr.
Maier and Dr Demotz. Me Dunant, a reputed lawyer in Geneva and partner of the Borel
& Barbey firm, represents the main investors of DORPHAN. Mr. Maier has a strong
business experience of the life science industry. He has occupied various positions in
large companies and start-ups. Dr Demotz, with a solid experience in preclinical drug
development, manages the operations of DORPHAN.
Customer Problem: DORPHAN acquires and develops drug candidates for severe rare
genetic disesases that have currently no treatments. These pathologies have been
neglected by the pharmaceutical industry and patients afflicted by these diseases are
left with limited medical options. DORPHAN currently conducts the development of
compounds with therapeutic potential in mucopolysaccharidoses. Children afflicted by
these diseases die in most cases before their twenties.
Product/Services: Identification and development of small molecules for the
treatment of severe, rare and orphan diseases affecting children. The drug candidates
currently under preclinical development are for the treatment of three types of
mucopolysaccharidoses. Several other molecules, for some of them already tested
in the clinic, with therapeutical potential in other rare diseases, are being acquired to
assemble an attractive portfolio of drug candidates.
Target Market: The objective of DORPHAN is to conduct the preclinical development
of drug candidates for rare genetic diseases that have no medical solutions and to then
out-licence them to pharmaceutical companies for clinical development. A decade ago,
rare genetic diseases were seen as commercially unattractive. Over the last years, it has
become clear that drugs for rare genetic diseases can be turned into profitable products
and this market is growing.
Sales/Marketing Strategy: DORPHAN is in the process of assembling a portfolio of
innovative and effective drug candidates for severe rare genetic diseases that currently
have no medical solutions. These compounds will be protected by patents and orphan
drug designations. They will hence represent attractive business opportunities for
pharmaceutical companies active in the rare disease therapeutic area and reluctant to
conduct high risk early preclinical development.
Business Model: The business model of DORPHAN is based on the acquisition of
compounds with therapeutic potential in rare genetic diseases and their preclinical
development through out-sourcing up to a point for outlicencing to pharmaceutical
companies. Taking advantage of our deep understanding of the target diseases,
compounds, possibly developed for other indications, are indentified and then acquired
from academic institutions and pharmaceutical companies.
Competitors: Years ago, rare diseases were seen by the pharmaceutical industry as
commercially unattractive. This view has recently radically changed. Drugs for rare
diseases in many instances have been profitable. As a result, many players are entering
this field and demand for high quality late preclinical projects is therefore growing.
Preclinical packages have to be carefully assembled to ensure their successful inlicencing by pharmaceutical companies.
Competitive Advantage: DORPHAN has established collaborations with academic and
private laboratories with specialized competencies (e.g. sugar chemistry, analytical
chemistry, cell biology and pharmacology of the central nervous system). This network,
combined with a deep understanding of the physiology of rare diseases, in particular in
the mucopolysaccharidosis field, provides DORPHAN with the ideal elements to conduct
successful preclinical development programs.
Who are the current investors: Private investors
Capital raised to date: CHF 1.5 million
Date and valuation of the last financing round: December 2012
Expected date of next financing round and main use of proceeds: Q4 2014 to Q1 2015
Date of profitability: DORPHAN does not intend moving its drug candidates through
the clinic up to marketing. Instead, DORPHAN plans to out-license its compounds at the
end of preclinical development. It is forecast that the 1st drug candidate will be suitable
for out-licensing in 3 years from now. At that point, and depending on the development
stage of its other compounds, sale of the company might represent an alternative exit
option for the shareholders of DORPHAN.
Expected date of exit (and related strategy): As described above, DORPHAN is a
preclinical stage company. It is not its intention to move its drug candidates beyond IND.
Rather, DORPHAN envisages out-licensing its programs to pharmaceutical companies
with established expertise in the clinical development of drug candidates for rare
diseases. Depending on the development of its pipeline, the sale of the company might
constitute an alternative exit for DORPHAN shareholders.
Describe the protectability and sustainability of your technology advantages: The
molecules acquired and developed by DORPHAN are protected by patents that cover
the novelty of the chemical entities produced and the therapeutic activity of these new
compounds in experimental models of the rare diseases. These compounds might also
be protected by orphan drug designations (ODD) obtained from the EMA and FDA, which
become effective only at the time of marketing. ODD are further extended in time for
pediatric indications.
Company Profile:
URL:
http://www.dorphan.com
Employees: 2
Founded: Dec-18-2012
Contact:
Stephane Demotz
[email protected]
Location:
EPFL Science Park
Lausanne, VD
Switzerland
Management:
Stephane Demotz, Dr
Investors:
Private investors
Referred By:
Dr Diego Braguglia, General Partner, VI
Partners, Lausanne and Zug, Switzerland
37
Ecrins Therapeutics
One Line Pitch: Ecrins Therapeutics est une société centrée sur la découverte et le
développement de nouvelles molécules pour la thérapie contre le cancer.
Business Summary: Le cancer est la 2ème cause de mortalité dans le monde. Ecrins
Therapeutics developpe des nouvelles molécules pour la thérapie contre le cancer.
L’entreprise vise le développement de ses candidats médicaments de la phase préclinique
jusqu’aux essais cliniques de phase II. La valorisation du projet se fera par la cession à un
grand laboratoire pharmaceutique.
Management: L’équipe est dirigée par les Dr Andrei Popov et Aurélie Juhem. Le premier
exerce les fonctions de PDG et (partiellement) de DAF. Le Dr Juhem dirige les travaux
de R&D. Les fondateurs sont conseillés par un Comité Strategique qui se réunit tous
les 3 mois. De plus, ils ont mis en place un Comité Scientifique composé d’oncologues,
d’experts en cancérologie, en chimie médicinale et en développement pharmaceutique.
Customer Problem: Ecrins Therapeutics répond au besoin pressant de développer de
nouveaux médicaments anticancereux, plus efficaces et moins toxiques, que ceux qui
existent sur le marché. Les pipelines des grandes pharmas dépendent des acquisitions
des projets développés par les startups - plus de 50% de candidats médicaments
développés par les grands laboratoires en oncologie viennent des PMEs.
Product/Services: Notre produit phare ET-D5 est une petite molécule candidat
médicament que nous avons découvert, et que nous développons pour plusieurs
indications oncologiques et pour les rethinopaties. En plus d’ET-D5, nous avons identifiés
6 autres produits avec une activité anticancereuse. En paralléle, Ecrins Therapeutics a mis
sur le marché une gamme de produits et services, destinés aux laboratoires de recherche
et à l’industrie pharmaceutique.
Target Market: Les molécules anticancéreuses représentent le marché pharmaceutique
le plus important avec un taux de croissance annuel de 12-15%, et des ventes globales qui
atteignent en 2012 80 milliards de US$ (Business-Insights).
Customers: Aujourd’hui, dans le monde, un décès sur huit est lié au cancer.
Théoriquement, le cancer est une maladie liée à l’âge, et l’augmentation du nombre de
personnes atteintes d’un cancer s’explique principalement par le vieillissement de la
population mondiale. Ceci explique en grande partie la croissance de ce marché (45%
entre 2007 et 2030).
Sales/Marketing Strategy: Notre stratégie de valorisation consiste à développer nos
produits jusqu’à la preuve de concept CLINIQUE, tout en laissant la porte ouverte à
une acquisition par un grand laboratoire à un stade plus précoce. Nous susciterons
l’intérêt des acquéreurs potentiels par une politique refléchie de communication sur nos
candidats-médicaments (publications scientifiques et/ou grand public, congrès, avis des
cliniciens - «key opinion leaders»)
Business Model: Ecrins Therapeutics vise une sortie industrielle. Nous développons des
produits anticancéreux du stade de «découverte» jusqu’à la preuve de concept clinique.
Nos clients seront des grands laboratoires pharmaceutiques interessés stratégiquement
par nos candidats-médicaments. En parallèle, Ecrins Therapeutics vend aussi des
produits et propose des prestations de service pour les instituts de recherche académique
et les sociétés de «drug discovery».
Competitors: Notre produit phare ET-D5, a une cible unique - la Protéine Phosphatase
I. ET-D5 appartient aux classes des produits anti-mitotiques et anti-vasculaires. La
concurrence sur le marché des anti-vasculaires est dominée par les produits antitubuline. Ces produits ont un talon d’Achille - leur toxicité cardiaque et neurologique. Le
paysage compétitif sera affiné lors des essais cliniques selon les types de cancers dans
lesquels ET-D5 sera efficace.
Competitive Advantage: ET-D5 est une molécule unique dans le sans où il est le
seul composé synthétique, inhibiteur séléctif de la Protéine Phosphatase I (PP1). Par
conséquent, il aura un profil d’efficacité et de tolérance différent des produits concurrents.
Ecrins Therapeutics possède une licence exclusive du brevet WO2011/107709/A1 dans
tous les domaines et dans le monde entier.
Who are the current investors: founders - physical persons
Capital raised to date: 106 000€ - founders
Date and valuation of the last financing round: we are looking to complete round A
financing
Expected date of next financing round and main use of proceeds: 2013-Q2; to finance
the toxicology studies necessary to enter the clinical trial Phase I, scheduled for 2014
Date of profitability: After a successful Phase I/IIa trial, the price tag on ET-D5 could
reach over €40 m; ECRINS Therapeutic should be ready for an attractive trade sale in
2016-2017 (early exit). Alternatively, ECRINS Therapeutics could raise a series B round
to take ET-D5 into clinical proof of concept (Phase II) and take into clinical trials its other
NCEs, further boosting the value of its pipeline (late exit).
Expected date of exit (and related strategy): see above. We plan an indistrial exit.
Describe the protectability and sustainability of your technology advantages: ECRINS
Therapeutics possesses an exclusive world-wide license to patents FR2956816A1 (filed in
2010) and WO2011/107709/A1 from the University of Grenoble, Institut Curie and CNRS.
Company Profile:
URL:
http://www.ecrins-therapeutics.com
Employees: 7
Founded: Jul-21-2010
Contact:
Andrei Popov
[email protected]
Location:
Ecrins Therapeutics, BIOPOLIS, 5
avenue du Grand Sablon
Grenoble, RA
France
Management:
Aurélie Juhem, Dr
Andrei Popov, Dr
Advisors:
Lawyer: M Frank Robert
Accountant: M Stéphane Court, In Extenso
Investors:
fondateurs
Referred By:
Jean-Marc Soustre - Humaneye
38
ENTEROME
One Line Pitch: Enterome is a company dedicated to the development of innovative
diagnostics based on metagenomics of the gut microbiota Business Summary:
Enterome operates within the diagnostic market. Our goal is to develop, on the basis of
our unique technology and know-how, innovative diagnostic products that could enable
clinicians to provide optimal care for their patients. Measurement and modulation of the
gut microbiota’s role in health and disease presents the opportunity to impact medicine
in an entirely new and unexplored way.
Management: Enterome has a strong and experienced management team which is
a blend of former executives of Fovea Pharmaceuticals (company acquired by sanofi
in 2009 and specialists of biomarkers. This management team is headed by Pierre
Belichard (CEO), and includes Dusko Ehrlich (CSO), Pierre Rimbaud (CMO), MarieLaure Bouttier (COO), Rodolphe Clerval (CBO), James Clark (CTO) and Bernard Gilly
(chairman).
Customer Problem: Payers and clinical questions are driving our developments.
Current challenge in diagnostic development, driving market acceptance, pricing and
reimbursement, is to of studies linking test results to final patient outcomes (clinical
utility). Our lead product is able to differentiate between NAFLD and NASH phenotype
and of great interest for payers. It will be commercialized in US in 2014
Product/Services: Our development strategy is based on the use of quantitative
metagenomics as a powerful imaging tool to study both anatomy and function of what
should now be considered as a forgotten organ i.e. the human intestinal microbiota
Target Market: Enterome is advancing an internal pipeline of biomarkers in chronic
serious diseases like NASH, type-2 diabetes, obesity and inflammatory bowel disease
(Crohn’s disease and ulcerative colitis). These diseases share in common to be
associated with perturbation of intestinal microbiota and to represent very large and
mostly untapped pharmaceutical and diagnostic markets
Customers: Liver diseases affect 35% of US/EU population. Payers challenge is to
acces markers able to differentiate NAFLD & NASH phenotypes to decrease spendings.
Potential market size US/EU is > € 1 bn.Pharma companies are looking forward to
using our test to stratify their patients at entry in clinical trials for their NASH drugs.
Food companies are interested by a new bacteria we have identified which seems to
protect from NASH development.
Sales/Marketing Strategy: After successful identification of a metagenomic signature
discriminating NAFLD and NASH phenotypes in a discovery study, our lead project is
now in validation phase (multicentric US/EU study). We will start building a CLIA lab
facility in US for the 1st phase of market entry end of 2013. Clinical utility study (600
pts) will start in May 2013, ending in 2014.and support market access enabling full
commercialization,.pricing and reimbursement
Business Model: Our strategic vision is to become the leader in human gut
metagenomics and its therapeutic applications. We aim at building a fully integrated
Business Unit / franchise in the microbiota field that could be acquired by healthcare
players as diverse as the pharmaceutical, food, diagnostic or payers industries
Competitors: Competition is focused on Metagenomic Services :
- BGI
- 23 & me
- DNAVISION
On the biomarkers side, MMD, Second Genome, Metabiomics and Vaiomer are our main
competitors.
Competitive Advantage: Enterome has a first mover advantage in the promising field of
gut microbiota. Dusko Ehrlich has a track record of 5 papers in Nature in this field and
is chairing Metagenopolis (INRA Jouy - France): a unique metagenomic platform and
a powerful and clinically validated tool to develop our diagnostic biomarkers recently
granted 19m € by the french government. Enterome is fully integrated and possess a
strong international development team.
Who are the current investors: Seventure / Lundbeckfond / Omnes / Shire / Danone
Capital raised to date: 8.5
Date and valuation of the last financing round: 7.5 Nov 2012
Expected date of next financing round and main use of proceeds: 20 m euros - bring
four products on the market in 2015 and exit through trade sale
Bacterial signatures assocated with stratification of disease phenotype is patentable
and we have already a patent portfolio - technology we use is also a very strong barrier
to generic entry - we are using with Metagenopolis the most robust and validated
metagenomic platform to produce our metagenotypes.
Company Profile:
URL:
http://www.enterome.com
Employees: 10
Contact:
Pierre Belichard
[email protected]
Location:
94 AV LEDRU ROLLIN
75015 paris
Paris, IdF
France
Management:
Pierre Belichard, CEO
Investors:
Seventure
LundbeckFund
Omnes
Shire
Danone
Referred By:
Biovision
39
Epitherapeutics ApS
One Line Pitch: Epitherapeutics is a leading epigenetic drug discovery company with
a focus on oncology and with several programs in lead optimization
Business Summary: EpiTherapeutics is developing novel innovative cancer drugs
based on world leading research by Professor Kristian Helin. EpiTherapeutics’
development programs are focused on epigenetic enzymes involved in
cancer (KDMs, KMTs).Most progressed program is in late lead optimization.
EpiTherapeutics has a strong investor base including Novo Seeds, SEED Capital,
Lundbeckfond Emerge, Merck Serono Ventures and Astellas Venture Management.
Management: Very experienced management team: CEO has 20+ years experience
in biotech in Denmark and the US with several successful exits and out-licensing
deals; EVP R&D has strong small molecule development credentials, VP Chemistry
has had chemistry leadership in multi-blockbuster drug Singulair(TM) and in $
500M+ drug Cordaptive, Director Oncology has very strong scientific track within
oncology researh, including pubilcations in Nature.
Customer Problem: Unmet pharmaceutical needs within cancer
Product/Services: Pharmaceutical oncological drug candidates
Target Market: Our drug candidates may have blockbuster potential
Sales/Marketing Strategy: Continuous business development efforts
Business Model: We create value by developing drug candidates to treat oncological
diseases. These candidates may later form the basis for an out-licensing to pharma/
big biotech or for a trades sales of the company Competitors: We are one of three
significant biotech players in the field of oncological drug candidates based novel
epigenetic targets. Epizyme (Cambridge, MA) and Constellation (Cambridge, MA)
are the other two. We believe. however, that due to our strong focus on histone
demethylases, we may have the strongest pipeline for this group of targets.
Expected date of exit (and related strategy): We expect to exit in 3-5 years
Describe the protectability and sustainability of your technology advantages: All
drug candidates are protected by composition of matter patents
Company Profile:
URL:
http://www.epitherapeutics.dk
Employees: 17
Contact:
Martin Bonde
[email protected]
Location:
Ole Maaloes Vej 3
2200 Koebenhavn N
Copenhagen, Capital Region of Denmark
Denmark
Management:
Martin Bonde, CEO
Advisors:
Lawyer: Wiggin&Dana
Accountant: Ernst&Young
Investors:
Novo Seeds, SEED Capital,
Lundbeckfond Emerge
Merck- Serono Ventures, Astellas
Venture
40
EVEON SAS
One Line Pitch: Eveon aims to become a leading company producing innovative medical
devices tailored for the reconstitution and/or administration of drugs.
Business Summary: Thanks to its proprietary micro-pump technologies and its capability
to integrate electronics, power components and user interface, Eveon provides solutions
to emerging industrial demands for “smart” devices (esp. for highly unstable or viscous
treatments). Eveon is able to get involved in co-development projects with pharma
companies, allowing them reduce time-to-market by 2-3 years - and offers Life Cycle Mgt
solutions for existing molecules.
Management: The team has been working together since the foundation of the company: 1)
Vincent Tempelaere : CEO (Société Générale AssMgt, MEMSCAP, TEAMLOG). 2) Christophe
Déhan : R&D (FRAMATOME, FCI, MEMSCAP, Xylon Services, ECOBATISSE) 3) Valérie
Roux-Jallet : Marketing (CORNEAL, RHODIA, ERSF – Synchrotron) 4) Catherine Felix-Faure
: Project Development (Becton-Dickinson) 5) Bruno Cocheteux : Operations (BectonDickinson, Sibaya BCPharMed, Harro Höfliger).
Customer Problem: Eveon offers clear benefits to companies 1) seeking to launch a new
molecule first in a dried form before releasing the liquid one and save 2-3 years time-tomarket, 2) releasing complex treatments for home administration (mix of powder/dried
products with liquid solutions, unstable molecules) 3) seeking to reduce their costs (-30%
product waste), 4) looking for innovative administration forms (Life Cycle Management) for
existing molecules.
Product/Services: Eveon offers its clients a complete and modular technology
platform to develop reconstitution/administration devices that are fully automated and
tailored to molecule/treatment specifications. Eveon proprietary technology is based on
microelectronics and is protected by 7 patent families. Beyond device development, Eveon
organizes the production and assembly of its devices before providing them in volumes to its
clients.
Target Market: Eveon targets the market of parenteral biologics ($185 billion in 2010,
+12.3%) : natural or recombinant therapeutic proteins (growth hormone, EPO, insulin, etc.),
therapeutic peptides, monoclonal Abs and vaccines. In average, the market share reached
by one molecule in these segments can be estimated to $1billion , meaning a $150 million
market for the associated device (usually representing 15% of the price of the molecule).
Customers: Eveon sells to Mid Pharma and Biotechs. 4 co-developments are currently
being signed, for a positive result as soon as 2015 and a € 40 M turnover by 2018, based
on these deals only and not accounting for extra developments. First client announces
further launches resulting in a turnover > € 300 M by 2021. Beside these well-advanced
negotiations, Eveon has also signed 49 CDAs, while 22 proposals are under qualification
review in Europe and the US
Sales/Marketing Strategy: Eveon has sales offices in France and the US (Boston). It has
contacts with 319 Pharma companies (6% Big Pharmas, 78% Mid Pharmas, and other
Biotech companies) in France (16%), other Europe (27%) and North America (48%) mainly.
About 2 FTE are currently dedicated to Sales and Mkg, and the BP anticipates 8 FTEs
by 2016. Eveon is present in 3-4 professional events in Europe each year (Parmapack,
Injectable, BIO Europe, PDA) and 1 in the US (BIO).
Business Model: 1) Devices development are financed by the clients who pay Eveon as
an R&D partner in codevelopment programs. (NB: Eveon still owns the IP). 2) Eveon’s
project portfolio is balanced between “higher potential & risk” projects and safer device
developments (for existing molecules for example). 3) Eveon produces (assembles) the
medical devices it sells to Mid-pharmas and Bio-techs. In this Eveon maximizes its revenues
and profits.
Competitors: 1) Competitors who offer purely mechanical devices with no microelectronics
to control volumes, pressure, etc. (West Pharma, Vetter, Ypsomed). 2) Competitors using
some advanced components as power to deal with mixes or viscous products (Antares,
Duoject). 3) Competitors using MEMs (Elcam, Debioject) who usually license their R&D
and do not produce devices. Other basic injectors, or pens are not considered as true
competitors.
Competitive Advantage: A] Technical competitive advantages: 1) complete integration
and automation of reconstitution/administration processes (simplicity, time saved), 2)
electronically controlled processes allowing for full standardization and thus home usage,
3) ability to deal with highly viscous products. B] Economical competitive advantage: positive
financial value proposition to pharma companies (faster time-to-market, less product
waste).
Who are the current investors: 1) Founders & Management ; 2) Family office and other
private investors
Capital raised to date: € 2 883 945
Date and valuation of the last financing round: NA
Expected date of next financing round and main use of proceeds: Funds should be raised
by May 2013. Main use of financing : Sales & Marketing (staff & expenses) = 15% ; Production
CAPEX = 47% ; WCR = 10% ; Other expenses = 18% ; Wages & Salaries (except Sales & Mkg)
= 8% ; Other CAPEX = 2%
Date of profitability: Company profitable in 2015.
Expected date of exit (and related strategy): Eveon intends to: 1) Organize the production
and guarantee the quality of assembled devices. 2) Be able to deliver the first series by 20152018 and thus build minimum production capabilities. After this date, several possibilities of
exit will be studied jointly with investors. The main one is an industrial exit (acquisition by a
pharma company or a device company)
Describe the protectability and sustainability of your technology advantages: Eveon’s
technology is fully validated and protected by 7 patent families( 2 news patents in
preparation). Ours partnerships with Grenoble INP & CEA are also major to keep an advance
in technology. Our business model, by wich we developed only tailored devices based on
pharmaceutical needs & specifications bring us a major advantage for our developments.
The fact to become an assembly company is also important to capture value.
Company Profile:
URL:
http://www.eveon.eu
Employees: 24
Contact:
Vincent Tempelaere
[email protected]
Location:
345 rue lavoisier
38330 Montbonnot Saint-Martin
Grenoble, RA 38330
France
Management:
Catherine FELIX-FAURE,
VP Projects
Vincent TEMPELAERE,
CEO
Christophe DEHAN,
VP R&D
Valérie ROUX-JALLET,
VP Business Development
Advisors:
Accountant: Ernst & Young
Investors:
Founders and Management
Family office and other private investors
Referred By:
Lyonbiopôle
41
Eydo Pharma
One Line Pitch: Eydo is devoted to the R&D of unique antibacterials for controlling
bacterial resistance, a worldwide issue of Public Health.
Business Summary: Eydo Pharma is a privately-held French-based DDS company
dedicated to R&D of patented innovative green nanomedicine technologies for the control
of bacterial diseases. Its major project is a breakthrough natural drug candidate with an
unparalleled antibacterial broad spectrum including panresistant strains of bacteria. The
company aims to provide pharma industry with unique products to control the emerging
worlwide issue of bacterial resistance.
Management: The management team is international and experienced with multiple
complementary skills and a strong track record of success in both start up and large
international corporations. Elisabeth Rossines, founder, brings her unique skills in
innovation. Daniel Henry, CEO, brings his high operational and business development
competencies of health sectors. Olivier Chiarisoli brings his robust experience of finance
and strategy.
Customer Problem: From the 50’s, about 200 molecules have been successfuly marketed
as antibiotics whereas bacterial resistance has been spreading across the world, leading
to a major Public Health issue. The ATB pipeline of pharma companies is now more or less
empty and there are no significant expected innovations in this field. Based on its current
technical results, Eydo probably holds the strongest therapeutic product to come.
Product/Services: The leading project of Eydo Pharma, named AT100, is a beakthrough
combination of 3 essential oils (EOs) - or extracted fractions(AT110) - with a unique and
sustainable antibacterial broad spectrum against multi-resistant strains of bacteria.
These EOs are combined with a patented nanotechnology developed in collaboration with
INSERM that improves the bioavailability of the product by systemic route and allows its IP
protection.
Target Market: The global antibiotics market is worth $40b i.e. +/- 5% of total drugs. The
volume breakdown is 50/50 in human/veterinary use, whereas the value breakdown is
respectively 90/10.
Customers: The customers of Eydo Pharma are (1) VC companies in order to finance the
R&D project and (2) pharmaceutical companies in order to finalize the R&D process and
to market the product. The customers of Eydo Pharma’s affiliate, Eydo Ingredients, are
industrial companies in the field of ingredients.
Sales/Marketing Strategy: Eydo Pharma aims to market evidence-based natural
compounds through regulated markets : POM, OTC, CHC, allegated health nutraceuticals,
medical devices, cosmetics. Eydo Pharma will basically generate revenues from its
business development operations. First-in-man passage is the pivotal step to trigger a
corporate deal with a pharmaceutical company. Eydo Pharma is just about to tackle the
preclinical phase of the registration process for AT100.
Business Model: Eydo Group has a dual business model. Eydo Pharma wants to partner
with pharma companies in order to generate corporate deals based on upfront, milestone
and royalty payments. Eydo Ingredient’s business model is shorter term by providing
antibacterial ingredients to life science companies in pharmacy, cosmetic, crop sciences,
biocides, nutraceuticals, consumer health care...
Competitors: Big pharmas are restarting R&D in the field of ATBtherapy whereas their
pipelines indicate limited innovative molecules. That is why several start-up were acquired
in the last years: Alopexx (Sanofi), Basilea (J&J), KaloBios (Sanofi), Mpex (GSK), Novexel
(Forest Labs then AstraZeneca), Novozyme (Sanofi), Paratek (Novartis), Rib-X (Sanofi),
Theravance (Astellas), Trius (Bayer). Despite these deals, no major innovations were
announced to date.
Competitive Advantage: The major competitive advantages of Eydo Pharma’s products
are (1) strong IP in a pioneering field (2) new mode of action of the natural actives in the
fight against bacterial resistance (3) breakthrough technology and know how offering a
wide range of applications for natural products (4) extremely favorable safety profile of the
products indicating easier registration process and (5) a complementary management
team.
Expected date of exit (and related strategy): The business model of Eydo is to partner
with pharma companies as soon as the pharmaceutical proof of concept (i.e. first passage
in man: clinical phase I) is completed. A preliminary deal is expected in the veterinary
business in 2014. A major corporate deal is expected in 2015 in human pharmacy. Such
early deals are made possible because of the very nature of Eydo’s active compounds
which exhibit unique safety/efficacy profiles.
Describe the protectability and sustainability of your technology advantages: Eydo
submitted a US patent in February 2011 which is currently in PCT extension. According to
this patent Eydo is pioneering in the field of nanoencapsulated synergistic essential oils,
combinated or not with antibiotics, as antiinfectives.
Company Profile:
URL:
http://www.eydolabs.fr
Employees: 5
Contact:
Olivier Chiarisoli
[email protected]
Location:
Vincennes, IdF 94300
France
Management:
Olivier Chiarisoli,
Chairman of the supervisory board
Daniel Henry,
CEO
Elisabeth Rossines,
President
Advisors:
Lawyer: Cabinet Ratheaux (Lyon, France)
Accountant: Cabinet Amperex (Paris,
France)
Investors:
FCPR Emergence Innovation 1 (Sofimac
Partners, Clermont-Ferrand)
Ago Pharma (Olivier Chiarisoli, Paris)
42
GeNeuro SA
One Line Pitch: GeNeuro: Breakthrough therapeutics for neurological diseases by
neutralization of pathologic proteins from endogenous retroviruses
Business Summary: GeNeuro S.A. is a product-driven biotechnology company, it has
operations in Switzerland and France. GeNeuro was created in February 2006 as a spinoff of bioMérieux. GeNeuro develops novel therapeutics addressing neuro-inflammatory
and autoimmune disorders involving human endogenous retroviruses. Beyond the lead
indication multiple sclerosis, schizophrenia and an orphan neurological disorder are
currently in development.
Management: GeNeuro is managed by four seasoned managers: Francois Curtin, MD, CEO,
comes from Merck Serono and was in charge of neurology development; Hervé Perron,
PhD, CSO, comes form bioMérieux where he developed the whole science of endogenous
retrovirus; Alois Lang, PhD, Chief Development Officer has a long experience in the
development of monoclonal antibodies; Christophe Guichard, CFO, has a long experience of
finance in several financial companies.
Customer Problem: The treatment of a neurodegenerative disorder such as multiple
sclerosis presents unmet medical needs as current treatments aim at blocking the immune
system of patients unspecifically. As a consequence, the price to pay for efficacy is that of an
immunosuppression with risks of infections and cancers. The cause of the disorder is not
inhibited, the progression of the disorder is not stopped, and the progressive forms of MS
have no treatment.
Product/Services: GeNeuro develops therapeutic monoclonal antibodies (mAb) for
neurologic and immunology disorders. Its lead product, GNbAC1, is in clinical development
Phase II in the indication multiple sclerosis. GeNeuro mAb targets a protein of endogenous
retroviral origin which is highly pathogenic and involved in the causation of several
inflammatory disorders. By a specific causal action, these drugs should have an optimal
efficacy and good safety profile.
Target Market: The multiple sclerosis market is a market of US$ 14 bn. There are two
main segments in the multiples sclerosis (MS) market: relapsing MS and progressive MS.
All marketed drugs and 90% of drugs in clinical development target the relapsing-remitting
segment. GeNeuro mAb intends to target the progressive forms of MS where the unmet
medical needs are higher and the relapsing form where a causal and safe treatment as that
of GeNeuro has its place.
Customers: Patients with multiple sclerosis are rather young as the disorder starts in the
20s-30s and progress the life long, certain forms of MS have a preponderance of female
patients. About 700’000 patients worldwide have MS and these patients are mainly found in
Europe and North America, with more prevalence in Northern countries. A growth rate in
patient number is estimated at 4% over the next 10 years. Thirty to 50% of patients are not
treated.
Sales/Marketing Strategy: The market for multiple sclerosis is a market of specialist
physicians, allowing for targeted sales efforts. These specialists are well aware of the
developments in the therapeutic of MS and the capacity of penetrating such market must be
based on showing that GNbAC1 brings superior advantages over the competition in terms of
indication, mechanism of action and safety. The physicians are also well aware of the unmet
medical needs.
Business Model: GeNeuro is a pure R&D biotech company which does not sell products
and services at the moment. Revenues will be generated by licensing therapeutic products.
Direct sales of therapeutic products by the company are not envisaged unless in niche
markets which could be envisaged for orphan indications.
Competitors: The intense competition takes place on the relapsing MS segment.
Competition is mainly in the hands of a couple of big pharmas such as Novartis, Biogen,
Sanofi/Genzyme, Teva, Roche, Merck Serono which have marketed drugs and latestage pipelines. However all marketed drugs and most of those in development are
immunomodulators/ immunosuppressors. Smaller companies tend to outlicense their
development products during early clinical development.
Competitive Advantage: With 28 patent families, GeNeuro owns an innovative approach to
multiple sclerosis treatment as well for other autoimmune disorders. The retroviral targets
discovered by GeNeuro appear to play fundamental roles in the causation and maintenance
of MS and other inflammatory disorders. Neutralising these causative factors could
transform the paradigm of MS treatment and bring clear advantage over current treatments
which acts symptomatically only.
Who are the current investors: Eclosion SA (Gemeva), Institut Mérieux (Lyon), bioMérieux
SA (Lyon)
Capital raised to date: US $ 24 m
Date of profitability: Market launch of first therapeutic product not before 2017
Expected date of exit (and related strategy): Before 2017 by licensing, trade sale or IPO
Describe the protectability and sustainability of your technology advantages: GeNeuro
is the leader in the field of therapeutics for endogenous retrovirus disorders. Its technology
is very well protected by the patent portfolio which GeNeuro seeks to develop regularly. This
allows the company to benefit from a first mover advantage and to consolidate its innovative
approach by new developments in therapeutic approaches and indications. Beyond MS,
schizophrenia, a rare peripheral neurologic disorder are in the pipeline.
Company Profile:
URL:
http://geneuro.com
Employees: 14
Founded: Feb-06-2006
Contact:
Francois Curtin
[email protected]
Location:
18 chemin des Aulx
CH-1228 Plan les Ouates
Geneva, GE
Switzerland
Management:
François Curtin, PD Dr
Hervé Perron, Dr
Alois Lang, Prof Dr
Christophe Guichard, Mr
Investors:
Eclosion (Geneva),
Institut Mérieux (Lyon),
bioMérieux (Lyon)
Referred By:
Mérieux Dévelopment
43
GENKYOTEX SA
One Line Pitch: Genkyotex is leading a new therapeutic approach to treat oxygen radical
mediated diseases by selectively targeting the NOX enzymes
Business Summary: Genkyotex develops 1st in class NCEs that specifically and selectively
inhibit NOX enzymes. NOX enzymes exist in 7 isoforms and produce Reactive Oxygen
Species which cause tissue damage and can modify biological pathways important in a
number of pathologies.Using a unique screening platform, Genkyotex has identified novel
inhibitors with the potential to treat a wide range of diseases.GKT137831 the lead drug for
nephropathy is completing PhI.
Management: All the senior team have experience of both biotech and large pharma.This
is important in bridging the strategic and operational needs of the small company with
the requirements of future pharma partners.CEO: extensive experience in leading biotech
companies including R&D, BD, Alliance and corporate activities.CMO:broad experience
of clinical development including clin ops.CSO & CDO: both worked in research roles in
pharma/biotech to develop NCEs Customer Problem: Radical Oxygen Scavengers(ROS) are
known to cause tissue damage and modulate signalling pathways and thus to have a role
in a variety of diseases where oxidative stress(OS) has been implicated. These range from
metabolic and cardiovascular disease to fibrosis, oncology and neurodegenerative diseases.
The NOX enzymes are the primary source of ROS and inhibition of these enzymes provides a
novel, targeted approach to the treatment of diseases of OS.
Product/Services: Genkyotex designs and develops small molecule inhibitors of the NOX
enzymes which have the potential to treat a wide range of diseases. Our unique screening
capability allows us to target selective inhibitors for different diseases.The lead compound
GKT137831 is a dual inhibitor of NOX 1 & 4 and is targeted for the treatment of diabetic
nephropathy. Earlier research programmes are focused on developing selective NOX 1, NOX
4 & NOX 2 inhibitors
Target Market: The diseases targeted by the Genkyotex pipeline of compounds represent
areas of high unmet medical need and large market opportunities. The lead compound
GKT137831 is in development for the treatment of diabetic nephropathy, a large and growing
market world wide with revenue estimates >$1bn p.a. The potential use of ‘831 in other
complications of diabetes as well as other fibrotic diseases (IPF,NASH) adds to the value of
this drug.
Sales/Marketing Strategy: Genkyotex’s long term aim is to secure a trade sale of its NOX
platform and inhibitors.Target buyers are pharma cos interested in this new therapeutic
approach and the diseases targeted by GKT137831. Ongoing identification and contact with
cos helps define and align our activities to maximise potential exti value.Early licensing
opportunities are also considered as a means of attracting and maintaining interest of
potential pharma partners.
Business Model: The objective of the co is to demonstrate the value of its NOX platform
by achieving clinical PoC of its lead inhibitor & developing a pipeline of novel inhibitors.
Financing comes primarily from VC investment augmented by research grants.
Opportunities to out licence programmes during the development phases are considered
as non-dilutive sources of funding. The realisation of the value of the company will come
through an eventual trade sale.
Competitors: Genkyotex holds a leading position in the design and development of inhibitors
of NOXs. A number of cos are showing interest in the field but are some years behind in
having a platform and molecules to enable clinical testing.We have for a period of time
a unque opportunity to exploit the NOX platform. Each NOX inhibitor we develop faces
competition from different therapeutic approaches to the same disease which impacts its
value and positioning
Competitive Advantage: Genkyotex has filed and granted patents covering our small
molecule NOX inhibitors with patent terms out to 2027 and beyond. To this we add use
patents for specific disease targets. Our robust assay platform has been developed over
several years giving us a lead advantage for screening novel chemistry. Whilst these assays
are not covered by IP the complexity of the targets and asssays has proven a significant
barrier to entry for other companies
Who are the current investors: Eclosion SA, FAE, Edmond de Rothschild Investment
Partners, Vesalius BioCapital, MP Healthcare Venture Management
Capital raised to date: CHF 51M
Date and valuation of the last financing round: Series C extension CHF25M July 2012
Expected date of next financing round and main use of proceeds: To be determined
Current funds will finance company through to end Phase II
Date of profitability: Not determined
Expected date of exit (and related strategy): Exit not expected before completion of Phase
II ie post 2014
Genkyotex has granted and filed patents for our small molecule NOX inhibitors providing
cover to 2027 and beyond.This IP is extended with new chemistry and use patents for specific
disease targets. Our proprietary assay platform has been developed over several years
giving us a lead advantage for screening novel chemistry. The complexity of the targets and
asssays has proven a significant barrier to entry for other companies in this field.
Company Profile:
URL:
http://www.genkyotex.com
Employees: 22
Founded: Jan-01-2006
Contact:
Ursula Ney
[email protected]
Location:
Chemin des Aulx 16
Plan-les-Ouates
Geneva, GE 1228 CH
Switzerland
Monthly Net Burn: 1,000,000
Management:
Eric Meldrum,
CSO
Patrick Page,
Chief Development Officer
Alexandre Grassin,
Finance Director
Philippe Wiesel,
CMO
Ursula Ney,
CEO
Investors:
Eclosion SA; FAE; SEFTI
Edmond de Rothschild Investment
Partners
Vesalius Bio Capital; MP Healthcare
Ventures
Referred By:
Eclosion SA
44
Genticel
One Line Pitch: Genticel develops therapeutic solutions for women already infected by
HPV before high grade lesions or cervical cancer occur.
Business Summary: Genticel is a clinical stage biotechnology company focused on
developing multivalent vaccines against Human Papillomavirus (HPV) infections which
are the known cause for several cancers including cervix carcinoma.
Management: The senior management at Genticel is a highly qualified blend of
business and scientific expertise and qualifications, hand picked and designed to
combat the diseases Genticel has chosen. Scientific expertise includes previous
professional experience in Sanofi-aventis, Aventis Pharma, Novartis and the EU
Executive Committee. Business and financial expertise involves...
Customer Problem: Under new screening guidelines, a large population of women
infected by HPV are informed that they are infected with high risk oncogenic viruses
even before high-grade lesions appear. Currently there is no therapeutic solution at
this stage. Genticel is the 1st to offer a therapeutic option for HPV infected women
prior to the development of high grade lesions.
Product/Services: ProCervix is a HPV 16/18 therapeutic vaccine for the treatment
of already infected women with normal cytology or low-grade precancerous lesions.
ProCervix will enter phase II in 2013.
Target Market: The size of the HPV market is substantial. The majority of efforts
by the industry to combat HPV is vaccinating those before they become infected.
However, the World Health Organization estimated recently that world-wide, 300
million women are carriers of HPV. Of these, about 93 million women are infected
with HPV16 and/or HPV18 types, and this results in 350,000 patients diagnosed with
cervical cancer each year.
Sales/Marketing Strategy: Comforted by ProCervix’ positive Phase I results and
promising viral clearance data, Genticel will conduct a PoC phase II trial and advance
its 2nd product, Heptarvix, up to end of preclinical development.
Business Model: To realize its business plan, Genticel intends raising up to 19 Mio €
in capital from current and new investors.
Competitors: Two prophylactic recombinant vaccines are on the market today:
GARDASIL®, and CERVARIX®. However, they are not efficient against pre-existing
HPV infections and HPV-associated lesions. Hence prophylactic HPV vaccines cannot
cure the 291 Million sexually active women currently bearing HPV worldwide. While
ProCervix is designed to eliminate HPV16 and/or 18 infected cells and to provide
protection against reinfection.
Competitive Advantage: Genticel’s proprietary vector technology platform, the
recombinant Adenylate Cyclase protein vector, has the potential to be used for a
broad range of vaccine applications as it allows the insertion of large antigens by
recombinant DNA technology. This vector is the only system that naturally targets
specific antigens directly to and into the cytosol of antigen-presenting cells, leading to
a potent and long lasting cellular immune response.
Who are the current investors: The company is backed by renowned venture capital
investors including Edmond de Rothschild, IDInvest, AMUNDI, IRDI and Innobio Fund.
Capital raised to date: Genticel has already completed several funding rounds totaling
EUR 30.6 million in Shareholders Equity. Income from collaborations, innovation
prizes, subsidies and tax credit amounted. These funds are being used to finance the
clinical phase of ProCervix and to develop the CyaA platform.
Date and valuation of the last financing round: 2010
Expected date of next financing round and main use of proceeds: Financing round:
2nd Quarter 2013. Use of proceeds: Deliver Phase II clinical trial package of ProCervix
and bring Heptarvix through preclinical development, ready to enter Phase I.
Date of profitability: 2015-2016
Expected date of exit (and related strategy): 2015-2016. Exit by trade sale
Genticel’s intellectual property provides long-term protection for products and
technology platform in all major and emerging markets up to 2031. Genticel is the only
company that holds rights to the adenylate cyclase antigen delivery technology.
A patent, filed in 2012 on our improved vector called Vaxiclase, is expected to provide a
monopoly until 2032.
Company Profile:
URL:
http://www.genticel.com
Employees: 30
Contact:
Benedikt Timmerman
[email protected]
Location:
516 Rue Pierre et Marie Curie
Labège, Midi-Pyrénées 31670
France
Management:
Marie-Christine Bissery,
Chief Scientific Officer
Martin Koch,
Benedikt Timmerman,
Founder, Chief Executive Officer
Investors:
Idinvests Partners
Edmond de Rothschild Investment Partners
InnoBio fund
The FSI and CDC Entreprises
Amundi Private Equity Funds (Amundi PEF)
IRDI
Referred By:
Innobio
45
Glyconova Srl
One Line Pitch: Research and development of drugs affecting heparan sulfate
biosynthesis.
Business Summary: Start-up founded in 2009 with the aim of discovering and
developing small molecule inhibitors of heparan sulfate biosynthesis. Validated a novel
target for the development of antitumoral agents. Identified candidate leads effective on
the target. Currently seeking partnership with Pharma or financing to advance to clinical
POC by 2015.
Management: Giancarlo Ghiselli, President; Konstantinos Efthymiopoulos, CEO and
Business Development; Gianni Garotta, Scientific Officer.
Customer Problem: Aims at unmet therapeutical needs through discovery and
development of drugs with innovative mechanism of action.
Product/Services: Heparan sulfate biosynthesis inhibitors. Small molecule enzymatic
inhibitors. Compound screening platforms.
Target Market: Currently focusing on oncology, melanomas and colon carcinoma.
Customers: Investors and Pharma companies.
Sales/Marketing Strategy: Seeking investors or partners for development of candidate/
lead compounds to preclinical or clinical POC stages.
Business Model: Rounds of investment to reach clinical POC.
Competitors: Zacharon LLC has focused on the same areas. Agreement signed with
Pfizer in 2010.
Competitive Advantage: Set up of a screening platform for the discovery of potent
and specific inhibitors of enzymes involved in heparan sulfate biosynthesis. In-house
production of key reagents and enzymes not available elsewhere, focused development
of candidate compounds toward specific therapeutical niches. Supported by excellent
network of collaborations with CROs and top tier academic scientists.
Who are the current investors: Eporgen Venture SpA, Piemontech SpA.
Capital raised to date: 700K euros.
Date of profitability: Assuming suitable financing is available, profitability is projected in
early 2015.
Expected date of exit (and related strategy): Early 2015 through acquisition
Describe the protectability and sustainability of your technology advantages: Novel
mechanism of action, unique know-how, extensive network of external collaborations
including key scientists in Europe.
Company Profile:
URL:
http://www.glyconova.com
Employees: 1
Founded: Apr-30-2009
Contact:
Giancarlo Ghiselli
[email protected]
Location:
Via Ribes 5
Colleretto Giacosa, Piedmont 10010
Italy
Company Stage: Concept Only
Management:
Giancarlo Ghiselli,
President
Gianni Garotta,
Scientific Officer
Konstantinos Efthymiopoulos,
CEO and Business Development
46
GlySure Ltd
One Line Pitch: Best in class continuous glucose monitor enables hospital ICU clinicians
to safely implement Intensive Insulin Therapy, a $1.5B opportunity.
Business Summary: In 2001 Greet Van den Berghe demonstrated that tightly controlling
ICU glucose levels resulted in significant improvements in outcomes including 34%
reduction in mortality and 46% reduction in incidence of sepsis while also reducing
the cost of care. The combination of existing outcomes data with the lack of a Simple,
Accurate, Fast, and Easy (S.A.F.E.) way to monitor glucose levels in intensive care has
created a $1.5B market opportunity.
Management: Deeply experienced management team with over 100 years of combined
experience in devices and diagnostics focused on intensive care. Proven track record of
developing and commercializing novel, 1st to market products.
Customer Problem: Insulin is #1 on MedMarrx annual list of Harmful Medication
Errors, while «Medication Administration Errors Using infusion Pumps» is #2 on ECRI’s
2013 Top 10 Health Technology Hazards. Research showing that Tight Glycemic Control
in ICU can save lives and reduce costs has led customers to want to use more insulin,
but fear of hypoglycemia and the lack of Simple, Accurate, Fast and Easy (S.A.F.E.)
glucose monitoring is a barrier to effective TGC.
Product/Services: GS-100, continuous intravascular glucose monitor for use in
hospital intensive care (ICU). Clinical trials have demonstrated that the system is simple
and easy to set up requiring less than 5 minutes of hands on time. Fully automated 3
point calibration ensures maximum accuracy, while patented fluorescent equilibrium
chemistry enables continuous monitoring throughout length of stay in ICU.
Target Market: There are 8-10M adult ICU patients annually that could benefit from
improved glycemic control. Using conservative estimates for penetration, pricing and
only 1 sensor per patient, the market size is $1.5B annually for the Adult ICU alone.
Follow-on opportunities in pediatrics, neonatal, step-down units and the OR push the
total market size to >$2B.
Customers: Adult Intensive Care Unit Patients: 8-10M annually worldwide. Initial focus
on cardiac, neuro, sugical and trauma patients.
Sales/Marketing Strategy: «Europe First» strategy with targeted launch via a small
direct sales team into Northern Europe supplemented by distribution throughout the
rest of Europe. The concentrated nature of intensive care beds enables effective sales
coverage at a low cost. Post FDA approval we anticipate US commercialization via a
combination of direct reps and distribution. Discussions are ongoing with multiple
potential distribution partners in the major markets.
Business Model: Classic razor-razorblade device model. Monitors will be placed via a
combination of sales and upcharge programs. The majority of the revenue and profit is
forecast to come from the sensor sales.
Competitors: Medtronic has recently released an interstitial sensor for hospital use that
is targeted as a trend monitor and requires frequent recalibration. Optiscan, Edwards
and Glumetrics have blood glucose systems in development. Based on publicly available
information we expect to have an advantage in one or more of accuracy, longevity, range
or COGS vs all of the potential competition.
Competitive Advantage: Our unique patented chemistry provides the optimal
combination or accuracy, range and longevity to meet the challenging ICU environment.
The system has been designed to integrate simply and easily into existing ICU practice.
Who are the current investors: Amadeus Capital, Chester Investments, Delta Partners,
Morningside Ventures
Capital raised to date: £14.0M
Date of profitability: November 2015
Expected date of exit (and related strategy): We see clear valuation inflection points
at CE mark, FDA clearance and revenue ramp. More detail on timing, valuation and
strategy regarding exit can be provided under NDA.
technology advantages - performance, accuracy, ease-of-use, longevity - are well
protected by two issued patents with over a dozen additional applications pending.
In addition we see protection lasting well beyond the patent horizon due to the trade
secrets in the manufacturing process.
Company Profile:
URL:
http://www.glysure.com
Employees: 23
Founded: May-01-2006
Contact:
Chris Jones
[email protected]
Location:
Unit 4-6 The Quadrant
Abingdon, England
United Kingdom
Management:
Jan Walters, VP of RA/QA
John Bradshaw, CFO
Barry Crane, CTO
Chris Jones, CEO
Advisors:
Lawyer: JAGShaw
Investors:
Amadeus Capital Partners, Delta Partners
Chester Investments, Morningside
Ventures
Referred By:
Joey Mason
47
gmp-orphan (GMPO)
One Line Pitch: Drug development company in niche markets, gmporphan files an IND in
spinal muscular atrophy in Q12013, and targets €250m of sales by 2018
Business Summary: gmp-orphan is a drug development company, incorporated in July
2011, selected by the bio-incubator Paris-Biotech Santé (France). GMPO targets to file, in
unmet medical needs, 2 innovative drugs yearly from 2015 on. Our lead was the 1st product
ever to be granted a common EMA/FDA pre-IND procedure in 2012. GMPO’s R&D strategy is
settled upon repositioning molecules already approved for other uses, what the US company
Celgene did with thalidomide.
Management: Designed on a collaborative model, GMPO has a multidisciplinary team of
experienced, eclectic and passionate professionals that have already built a portfolio of four
products. This team focuses on his heart craft, design and securing IP, draws on inhouse
and external assets, and the management of the progress of each product within the
strategic decisions and resources.
Customer Problem: GMPO offers a model to increase the return on investment in the drug
business. Indeed, if the investment required to launch a new drug has doubled since the
90s, the return has dropped from 9% in 2000 to 4% in 2009. And large pharma companies’
portfolios are empty. The repositioning strategy has been shown to divide development
duration by 2, costs by 4, and increase success rates by 2, especially in the rare disease field.
Product/Services: GMPO designs and develops patented drugs in niche indications
towards registration by the healthcare agencies (FDA, EMA and MHLW), including price
assessments, and licenses out to blue chip companies. Our portfolio contains 4 candidates.
GMPO is built up like a drug development machine based upon its team and board knowhow, in order to set up each drug in less than 4 years, with less of €5m of investment, and
with an IP protection above 7 years.
Target Market: GMPO’s focuses of interest are severe and unmet medical needs, like in
pediatric, neglected diseases; or rare diseases that affect 1 person in every 17. With more
than 100 newly identified affections every year, the 7000+ rare diseases affect a group of
interest weighting more than 50m individuals (US and EU). In 2011, their US economical
impact was estimated close to €290b.
Customers: Most of rare diseases are debilitating, chronic, with 95% being untreated. Drugs
of concern fall into the «orphan» category issued by agencies, a status that entitles many
incentives (fiscal, IP protection, regulatory). In 2011, the global drug market amounted to
€650b, orphan drugs alone for close to 10%, with an annual growth above 25% over the last
decade. That growth should leverage the segmentation of common diseases (personalized
medicine).
Sales/Marketing Strategy: With 80% of rare diseases being chronic if not lethal, efficient
treatments need to be used for life, with an orphan protection above 7 years. In addition,
with the tendency to segment common diseases, the potential growth for a fast-moving and
delivery-oriented company with a relevant business model, to answer niche indications,
is remarkable. Indeed, GMPO’s portfolio already contains 4 compounds in a potential
consolidated market above €2b.
Business Model: GMPO’s business model allows a rapid return on investment, with a
break-even by 2014. GMPO has fixed costs limited to its operational team. The rest is done
by outsourcing/partnering with highly specialized companies, an approach to prioritize
its spending efficiently. Revenues come from the licensing out of the marketing rights of
drugs, keeping manufacturing in-house. It provides cash from upfront fees after the first
discussions with agencies.
Competitors: In 2009, 47% of new drugs by the FDA came from repositioning. However,
there is a handful number of specialized biotechs in the scope of repositioning in rare
diseases like Minoryx (SP), Orfagen (FR), RarePartners (IT), or Hyperion (US), often limited
to preclinical activities only. Founded in 2007, Hyperion has developed a new formulation of
GMPO’s lead molecule in its primary indication; in July 2012, it conducted an IPO and raised
$50m.
Competitive Advantage: GMPO is designed as a marketing-offensive tool kit, with a
coherent original set of characteristics: A specific market positioning, i.e. life-threatening
rare diseases, with a nimble delivery-oriented team (e.g. our patented lead, taken to a FDA
preIND meeting in 15 months only). A federated business model with a repositioning reallife R&D strategy, allowing better success rates in shorter and cheaper timeframes, with 4
products in development.
Expected date of exit (and related strategy): Expected date of exit not before 4 years from
investment, e.g. trade sale, or IPO.
sustainability of GMPO’s business is based on IP protections (composition of matter, method
of use, manufacturing, or formulation) and patent exclusivities granted by Healthcare
agencies, from 7 (US territory) to 12 (EU) years from dates of registration. On the lead GMA101, GMPO’s first patent filed PCT/EP2012/062152 supported by US 61/499,805.
Company Profile:
Contact:
Fred Marin
[email protected]
Location:
7, rue du Pasteur Wagner
F-75011
Paris, IdF F-75011
France
Management:
Joseph Irwin,
VP Regulatory Affairs
Pascal Suplie,
VP Pharmaceutical Development, associate
Michel Andraud,
CFO, associate
Fred Marin,
CEO, co-founder
Advisors:
Lawyer: Chevalier Péricard Connesson &
Associés
Accountant: Joël Haimovici, expert
comptable
Investors:
Business angels
48
InnaVirVax
One Line Pitch: InnaVirVax is developing at the clinical stage an innovating therapy for HIV
infection that will act in synergy with antiretrovirals.
Business Summary: InnaVirVax, incorporated in 2008, is a French biopharmaceutical
company. Its most advanced project is an innovative therapy for HIV infection that has
completed a Phase I/IIa clinical trial and been found to be safe and well tolerated. This
therapy would act in synergy with antiretrovirals, reducing the morbity and mortality of this
disease. At peak sales, it is expected yearly worth is expected to be more than €1 billion.
Management: Dr J. Crouzet has 25 years of management of R&D in Pharma and Biotech
and business Dev. experience. Under Joel Crouzet’s leadership, the management
team gathers Dr S. Gharakhanian with a wide expertise in antiviral clinical Dev. up to
market approval, Dr N. Baran with finance and business Dev. experience, Dr R. Ho
Tsong Fang with a broad expertise in HIV disease and pathogenesis, and D. Batejat with
Pharmaceutical Dev. expertise.
Customer Problem: The antiretroviral therapies (ART), although decreasing
tremendously the viral load in HIV-infected patients, leave most of the patients with a high
unmet medical need. This is due to AIDS, non AIDS-related diseases (now the main cause
of morbi-mortality in ART patients) including but not limited to non AIDS-related cancer,
neurocognitive disorders, cardiovascular and renal diseases, etc. Moreover, the patients
are not cured from the infection.
Product/Services: VAC-3S will be used as an add-on therapy with antiretrovirals thereby
decreasing the morbi-mortality of patients on antiretroviral therapy. VAC-3S could also
be used either alone or be part of the armamentarium towards a functional cure of HIVinfected patients, resulting in patients being off ART. DIAG-3S is a new biomarker of HIV-1
infection progression which will greatly improve the prognosis of disease progression.
Target Market: The target market of VAC-3S is above € 1 million per year at peak sales. If
VAC-3S was to be used either alone or as part of the armamentarium towards a functional
cure of HIV-infected patients, resulting in patients being off ART, the market would be
above € 3 billion per year. DAIG-3S has a target market of € 5 million per year.
Customers: The main customers for the VAC-3S project are Pharmas with an HIV
franchise, including Gilead, BMS, Merck, AbbVie, Roche and ViiV. The in licensing of VAC3S would strengthen their franchise in HIV. Concerning DIAG-3S, there is a wide range
of company that could in license such a test going from the major players to mid-size
diagnostic companies.
Sales/Marketing Strategy: InnaVirVax has planned to present the VAC-3S therapeutic
project to Pharmas with an HIV franchise (see above) but also to companies with
an interest in virology. To strengthen the interest on VAC-3S, InnaVirVax is actively
communicating his main advances to the scientific and medical community, including
through presentations in scientific meetings. Concerning the DIAG-3S project, InnaVirVax
has already discussion with a diagnostic company.
Business Model: InnaVirVax will license the VAC-3S therapy to a large pharmaceutical
company with an HIV franchise. A co-development could be performed, however the phase
III pivotal studies will be conducted by the licensee. The DIAG-3S project will be partnered
to a diagnostic company that will carry on the development and the marketing. Upfront &
milestones payments plus royalties on sales of VAC-3S and DIAG-3S will fuel the funding
of InnaVirVax development.
Competitors: Nearly all the products in development are targeting the virus
(antiretrovirals or vaccines); they are not true competitors of VAC-3S since they could
be combined and have complementary actions. The immune boost (human IL-7) is also
acting on the immune system but through a totally different way (boost vs protection).
In the field of HIV cure, there are different approaches and some of those may/will be
combined as in other viral diseases.
Competitive Advantage: VAC-3S is addressing unmet medical needs in HIV therapy
through a unique mechanism of action (immuno-protection) which is key in this immune
disease and for which there is a strong clinical rationale (studies on 900 of patients).
Nearly all the other products in development target the virus itself, making the VAC-3S
product unique.DIAG-3S adds a new set of information (immune status of patients) to the
currently used markers of disease monitoring.
Who are the current investors: CapDecisif, G1J Ile-de-France, FaDiese, Pradeyrol
Développement, Fonds Régional de Co-Investissement
Capital raised to date: € 4.8 million
Date and valuation of the last financing round: February 1st, 2012
Date of profitability: 2016 - 2017
Expected date of exit (and related strategy): 2016 - 2017
Company Profile:
URL:
http://www.innavirvax.fr
Employees: 10
Contact:
Joël Crouzet
[email protected]
Location:
4 rue Pierre Fontaine
Pépinière Genopole® Entreprises Campus 3
Évry, IdF 91000
France
Management:
Dominique BATEJAT,
Head of Pharmaceutical Development
Nathalie BARAN,
Operation Development Manager
Raphael HO TSONG FANG,
Clincial Operation Manager
Shahin GHARAKHANIAN,
Chief Medical Officer
Joël CROUZET,
Chief Executive Officer & Chairman of the
Board
Advisors:
Lawyer: Frédéric Lerner, SCP Lerner
Friggeri & Associés
Accountant: In Extenso
Investors:
Cap Decisif Management
G1J Ile-de-France, Fonds Régional de
Co-Investissement, FaDièse
Pradeyrol Développement
49
Mindseeds Laboratories
One Line Pitch: Start-up biotech company that develops a platform for discovering human
antibodies and targets in oncology.
Business Summary: We aim at discovering potent antibodies produced by human immune
cells by analyzing millions of possible functional interactions between immune cells and
cancer cells. Using our patented microsystem technology, we will identify single immune
cells expressing useful antibodies among millions of candidates and we simultaneously
enable the discovery of new targets. We seek a seed funding to complete platform
demonstration.
Management: Roberto Guerrieri, CEO, is EE Professor at the University of Bologna and
serial entrepreneur. He is senior founder of Silicon Biosystems, a cancer diagnostics
company, and inventor of the core biometric technology of Upek Inc., acquired by
Apple Inc. in 2012. Massimo Bocchi, CTO, is an EE PhD with a certificate in Technology
Entrepreneurship, Santa Clara University, and 10-year research experience on tools for life
sciences.
Customer Problem: Tumors typically escape the immune system protection, hence
memory B cells or plasma cells are not the best source of anti-cancer mAbs. Naïve B cells
are a promising source but screening these cells with existing technologies is difficult as they
neither grow nor secrete mAbs. Moreover, efficient lead discovery requires simultaneous
finding of the mAb and a matching antigen, but existing workflows require the antigen to be
defined a priori.
Product/Services: We will screen for novel antibodies and targets by forcing the interaction
between the human immune system and target cells obtained from tumor samples and
analyzing the function associated to each human naive B cell. Working in cooperation with
bio-pharma companies that will identify a target disease of interest, Mindseeds will launch
several programs for the discovery of therapeutic leads (antigen-antibody pairs) with its
proprietary platform.
Target Market: Global anticancer mAb market is worth $22b with a 18% CAGR between
2006-2011. Pharmaceutical companies have a great interest towards human mAbs as
they consistently reduce undesired immune reactivity on patients, commonly generated
by other antibody classes. Since various mAbs account for more than 1B$ sales each,
pharmaceutical companies are willing to pay 10s to 100s millions to grant the access to
human antibody discovery platforms.
Customers: Our clients are pharmaceutical companies developing anticancer mAbs.
There are 88 human mAbs in clinical development. Given the average $615m preclinical
development cost per mAb, only large pharma are able to sustain the development of
new biologic drugs. We had preliminary discussion with a couple of large pharmaceutical
companies that reported a possible interest in a pilot project after a full proof of our
technology will be reached.
Sales/Marketing Strategy: The few clients that we will need to acquire are large bioparmaceutical companies. Interest will be triggered either by scientific results and key
opinion leader recognition. We will publish scientific results on top journals during the seed
phase. Then, we will discuss with key opinion leaders for having them joining the company
as scientific advisors. We already cooperate with oncology institutes to create awareness of
technology potential.
Business Model: Working in partnership with bio-pharma companies that will identify
target disease of interest, Mindseeds will develop specific therapeutic leads (antigenantibody pairs) using its proprietary platform. By partnering with biotech companies that
develop antibody discovery platforms we will either secure a complete workflow and
provide partners with screening capabilities enabling broad screening of candidate leads for
oncology.
Competitors: Most of the competing platforms for mAb discovery follow an “antigen-inantibody-out” model, where the target antigen has to be known a priori, as in the case
of Adimab, Theraclone, Immunome. Other companies bypass this limit and work with
unknown antigens, but require cells form donors that showed an immune response. Both
the situations are not ideal for discovery of anti-cancer leads as antigens are often unkown
and immune response missing.
Competitive Advantage: Since existing technologies neither support simultaneous
discovery of antigen-antibody pairs nor high-throughput screening of the antibody function,
discovery of anti-cancer leads remains highly challenging. Our patented platform supports
the functional screening of any cell library, including naive B cells, and interrogates all
antigens on target cells. Hence we evaluate the multiple ways a set of immune cells has for
attacking cancer cells.
Who are the current investors: The founders
Expected date of next financing round and main use of proceeds: We are interested in
closing a first round of financing as soon as possible. We have already identified a generalist
VC fund that is possibly interested in joining an investment syndicate upon identification of a
second investor with specific competence in life sciences investments.
Expected date of exit (and related strategy): All the successful companies playing in our
field with a similar business model, such as Abgenix, Medarex and Cambridge Antibody
Technology, were eventually acquired by a large pharmaceutical company. Mindseeds
will pursue the same strategy and for this reason partnership programs with large
pharmaceutical compaies will be core to our business model. We expect at least 5-7 years of
activity before a possible exit will occur.
Describe the protectability and sustainability of your technology advantages: Our key
technology advantage is the ability to study cell-cell interactions for characterizing the
human immune system cell by cell. A first barrier against competitors is represented by
our know-how developed through more than 3 years of multidisciplinary research activity
and built on the scientific experience of the founders. Another barrier is our IP portfolio that
includes 1 patent granted in EU and China and 2 pending PCT applications.
Company Profile:
URL:
http://www.mindseedslabs.com
Employees: 5
Contact:
Roberto Guerrieri
[email protected]
Location:
Viale Ercolani 3
Bologna, Emilia-Romagna
Italy
Management:
Massimo Bocchi, CTO
Roberto Guerrieri, CEO
Referred By:
Andrea Ballestri, Davide Turco (Banca
Intesa)
50
Miracor Medical Systems GmbH
One Line Pitch: There is No Better Way to Cure a Broken Heart ® Business Summary:
More than 350,000 severe heart attack patients have poor microcirculation even after a
successful stent/PCI procedure. These heart attack patients are younger (35-65 years
old) and improving their outcome is essential to reduce health care costs. Miracor has
developed the PICSO technology to address this big unmet clinical need, has obtained CEmark and is currently conducting post-market clinical trials in acute coronary syndrome
patients.
Management: The Miracor management team consists of weathered medical device
professionals who have launched innovative cardiology and cardiac surgery products
world-wide. Our strong points are taking innovations from a napkin to a real product,
approval processes, clinical trials and initial sales&marketing activities.
Customer Problem: Per year more than 3 million patients are treated for a heart attack.
A majority of these patients are treated by expanding the coronary artery using a stent
or a balloon. The patients break down into three equally large patients groups: unstable
angina, NSTEMI and STEMI patients. The latter group has a large infarct and more than
350,000 patients in this group need improved tissue perfusion even after a successful stent
placement.
Product/Services: Miracor provides the PICSO Impulse Catheter and Console which are
used during the treatment of severe heart attack patients. The catheter is a single use
device and each procedure is supported by one of Miracor’s clinical application specialists.
Target Market: Severe heart attack (STEMI) patients. Our market research shows that
more than 350,000 STEMI patients need improved microcirculation even after a successful
stent placement.
Sales/Marketing Strategy: We are targeting innovative and younger interventional
cardiologists who want to make a difference for acute coronary syndrome patients. These
cardiologists will be a part of our European clinical trial team and will be the first adopters
of the technology. From there we will do a targeted launch in our core geographical
markets: Benelux, DACH and the UK. A US market entry will only be possible with a
defined clinical and regulatory strategy.
Business Model: Direct sales to interventional cardiologsists in our target markets.
Distribution model outside these markets. The revenue stream will come from our single
use catheter and the console.
Competitors: None at the moment. However, our biggest challenge is to prove that the
technology works clinically and use this evidence to convince cardiologists that they need
to do more for severe heart attack patients with poor microcirculation.
Competitive Advantage: The PICSO technology is disruptive and may change the way
acute coronary syndome patients are treated world-wide. Miracor has filed a total of 12
patent families in the US, Europe and Japan.
Who are the current investors: Round A: Earlybird and Delta Partners; Round B:
Earlybird, Delta Partners, SHS and aws (double equity program). Research grant from
Austrian Research Promotion Agency - FFG.
Capital raised to date: Round A: €6M; Round B: €5,5M; Public Funding: €6,6M;
Total= €18,1M
Date and valuation of the last financing round: Round B: Sept. 2011 Valuation= €15,5M.
Expected date of next financing round and main use of proceeds: 06/2014. European
launch and the RAMSES 200 patients randomized clinical trial in acute coronary syndrome
patients.
Date of profitability: 06/2017.
Expected date of exit (and related strategy): 06/2015 through one of the larger medical
device corporates.
Describe the protectability and sustainability of your technology advantages: Miracor
has a total of 12 PICSO patent families filed in the US, Europe and Japan and these
families are in different stages of the approval process. The patent families protect several
important aspects of the Miracor technology and procedure. Currently the company has
been granted six US, 4 European and 2 Japanese patents. The Miracor PICSO technology
consists of several unique technology components which together provide the therapy.
Company Profile:
URL:
http://www.miracormedical.com
Employees: 14
Contact:
Jon Hoem
[email protected]
Location:
Gumpendorferstraße 139
A-1060 Vienna, Austria
Vienna, Vienna
Austria
Management:
Stephanie John,
Vice President Clinical & Regulatory Affairs
Jon Hoem,
CEO
Lars Schiemanck,
CTO
Ludwig Gold,
CFO/COO
Investors:
Earlybird
Delta Partners
SHS
Referred By:
Joey Mason
51
Mosaic Biomedicals
One Line Pitch: Mosaic Biomedicals develops personalized cancer treatments that specifically
target cancer stem cells.
Business Summary: Mosaic Biomedicals is a Barcelona-based spin-off company of the Vall
d’Hebron Institute of Oncology (VHIO) that develops personalized cancer treatments specifically
designed to target cancer stem cells. Mosaic’s innovative treatments are derived from a deep
comprehension of the tumor biology and want to offer safer and more effective options to cancer
patients.
Management: Mosaic is lead by Dr. Judit Anido, an MBA professional in oncology business
development and strategy with 10+ years scientific experience. Mosaic’s leadership core is
completed with Prof. Seoane and Prof. Baselga, with a demonstrated track record in personalized
treatments in oncology and CSCs biology. International advisors and directors with demonstrated
experience in biotech entrepreneurship and oncology drug development complete our team.
Customer Problem: Global cancer prevalence rates are on the rise owing to an aging population
and changing lifestyle. According to the International Agency for Research on Cancer and The
American Cancer Society, in 2012, 4 million new cancer cases are expected to be diagnosed in US
and EU and despite the important medical advances during the recent decades approximately 1. 7
million patients will die from the disease. Clearly, many patients are still underserved.
Product/Services: Cancer Stem cells (CSCs) are responsible from tumor initiation, maintenance,
relapse and metastasis. In addition, CSCs are highly resistant to radio- and chemotherapy
treatment. Thus, treatments directed to the elimination of CSCs should lead to more effective
therapies and tumor eradication. Mosaic Biomedicals addresses this need, developing innovative
personalized treatments specifically designed to eliminate CSCs and has a lead product, MSC-1.
Target Market: In 2010, the global cancer market was valued in $54bn ($36bn captured by US
and the Top5 EU countries) and is expected to expand at a CAGR of 6.9%, reaching $81bn in
2016. Mosaic’s lead product, MSC-1 has forecasted peak revenues of $590M in brain cancer with
additional revenues coming from line extensions in colorectal, pancreatic and squamous cell lung
carcinoma to sum up a potential market of $4.6Bn.
Sales/Marketing Strategy: Our team has developed long-lasting collaborative relationships with
the leading pharmaceutical companies in oncology (Novartis, Genentech, GSK, Eli Lilly, Roche, etc)
at the pre-clinical and clinical development stages. This would facilitate the contact and negotiation
based on pre-established trust on our team’s know-how. We will also approach additional
companies with focus on oncology or anti-CSC therapies to build a relationship with them.
Business Model: Mosaic Biomedicals’ business model focuses on value creation by developing
drugs from lead identification to Phase I/IIa clinical trials, when the products will be out-licensed to
biopharmaceutical companies. An upward trend is observed in licensing deals in oncology related
to anti-CSC products and an average license deal value of $20.3M upfront payment and $208M in
milestones has been calculated for Mosaic products.
Competitors: 3 main competitive fronts: 1-Radio and chemotherapy treatments: due to limited
benefit and severe adverse events are considered substitutes. Combination with anti-CSC drugs is
recommended; 2- Targeted therapies related to MSC-1: patient heterogeneity allows for a MSC-1
defined niche target population. Drug combinations are recommended to increase overall efficacy;
3-Biopharma companies developing anti-CSC drugs: See competitive advantage section
Competitive Advantage: Our unique approach: 1- Focus on anti-CSC therapies giving rise to more
effective anticancer drugs. 2- State-of-the-art patient-derived mouse model that reproduces
patients’ tumors, efficiently translating laboratory results into the patients. 3- Companion
diagnostic with each drug, giving rise to the personalized medicine, increasing the drug’s success
rate (fewer side effects, higher efficacy) and decreasing development time costs.
Who are the current investors: Mosaic is a recently established company (2013) with the support
of 2 grants: Prova’t (Government of Catalonia) and European Research Council Proof of Concept
(ERC POC, 7th Framework) totaling 450,000€. Mosaic is closing a seed round of investment with
biotech-focused business angels complementing founder’s capital (150,000 € total). This capital
will be leveraged with public and private funding in form of soft loans/shareholder loan (150,000 €).
Capital raised to date: Founders + BA= 150,000€ (pending to close). Awards=
23,000€:»Biosciences Start-up with the Greatest Growth Potential» voted by 25 national experts
from the biotech industry and venture capital; “Best Biotech Project” by the Spanish Association
of Biocompanies (ASEBIO), The Science and Technology Spanish Foundation (FECyT), the Spanish
Association of Biotechnology (SEBiot) and the Spanish Association of Biochemistry and Molecular
Biology (SEBBM).
Date and valuation of the last financing round: Mosaic Biomedicals is a recently established
company (2013) and has not gone through a financing round yet.
Expected date of next financing round and main use of proceeds: We seek a 3M€ round A
investment in Q4 2013 to cover the next 2 years of operations to: 1-Complete MSC-1 pre-clinical
development (including POC, SOC comparison, toxicology and production) and IMPD application to
enter clinical trials in Q1 2015. 2- Advance MSC-2 towards pre-clinical development. 3- Consolidate
Mosaic’s pipeline, structure and management team. This private financing would help leverage
public non-dilutive funding to Mosaic.
Date of profitability: Mosaic forecasts the first licensing deal to occur at the end of 2016, when the
anti-LIF antibody has successfully finished the Phase I/IIa clinical trial and safety and preliminary
efficacy data will be available. The $20.3M upfront payment will be received in 2 tranches. First
tranche of $6.8M in Q4 2016 and a second tranche of $13.5M in Q3 2017, once the technology
transfer to the licensee is on-going reaching Mosaic’s profitability
Expected date of exit (and related strategy): In 2017, Mosaic Biomedicals’ technology and
structure would be mature enough to envision two potential exit scenarios: 1-M&A: Predominant
exit strategy for biotech firms. Expected M&A value of $1,7Bn. 2-IPO: Despite the current collapse
in biotech IPOs there is a market excitement for the anti-CSC drug companies IPOs: Verastem in
2012 ($55M); Stemline in 2013 ($33M) and expected Oncomed ($115M) in 2013. Expected IPO value
of $72M.
Describe the protectability and sustainability of your technology advantages: MSC-1, is a
pre-clinical stage humanized antibody (protected by 2 filed patents in national phases). MSC-1
POC includes 54% reduction of CSC in vitro and 50% reduction of tumor recurrences in our brain
cancer mouse model. Brain cancer indication allows for Orphan Drug Designation and Fast Track
regulatory paths. MSC-1 targets a novel mechanism of action, not addressed by any other product
approved or under development (competitive advantage).
Company Profile:
URL:
http://www.mosaicbiomedicals.com
Contact:
Judit Folgueira
[email protected]
Location:
Barcelona, CT
Spain
Management:
Josep Baselga,
MD, PhD, Co-founder
Joan Seoane,
PhD, Co-founder & Chairman
Felipe Voces,
PhD, Advisor
Nigel Fleming,
PhD, Advisor
Judit Anido,
PhD, MBA, CEO & Co-founder
Advisors:
Lawyer: Corporate: Manubens (Guillem
Gilabert); IP: Hoffmann Eitle (Joachim
Renken)
52
Neurotune AG
One Line Pitch: New hope for patients with fatal neuromuscular diseases such as SMA or
ALS.
Business Summary: Neurotune is a clinical stage, R&D focused biotech company.
The focus is on the development of novel drugs for neuromuscular diseases (including
sarcopenia), neuropatic pain and kidney diagnostic.
Management: Neurotune is managed by Dr. Armin W. Mäder (CEO), Dr. Stefan Hettwer
(Head R&D) and Dr. Bruno Oesch (Executive Chairman) together with Prof. Ruggero
Fariello (Medical Advisor) and Dr. Carlo Farina (Advisor on preclinic and chemistry). The
team has extensive experience in neuroscience and life-science start-ups. Through
international collaborations there is, together with the scientific advisory board strong
bond to international experts.
Customer Problem: Neuromuscular diseases such as ALS (amyotrophic lateral
sclerosis), SMA (spinal muscle atrophy) and many more do not have effective treatments
available; there is a large unmet therapeutic need. Neurotune proposes a novel
therapeutic approach strengthening the neuromuscular junctions (NMJ), the connection
between the motoneurons and the muscle.
Product/Services: Novel treatment for neuromuscular diseases.
Target Market: Prescription medicine: Medical conditions with large unmet medical
needs (e.g. no effective treatment) in neuromuscular diseases. Spinal muscle atrophy
(SMA): 50’000 patients worldwide. Amyotrophic lateral sclerosis (ALS): 120’000 new cases
each year. This is a multi-billion market for an effective drug. The market can be expanded
to chronic conditions such as sarcopenia.
Customers: Target client population are patients with the conditions mentioned above
(SMA: starting from childhood; ALS: at any adult age). For the drug to be commercially
successful, reimbursement must be ensured based on human efficacy data from clinical
trials. This will not be a general practitioner drug, but a drug for specialty physicians. In
summary the customers are patients, physicians and payers.
Sales/Marketing Strategy: Neurotune is a an early stage drug developer up to clinical
phase II. For distribution, marketing and sales, the company is looking for large corporate
partners with the respective sales network. During the current development phase, the
company is following a b2b model to find licensing partners on a global level.
Business Model: Neurotune is a an early stage drug developer up to clinical phase II.
For late clinical development (phase III) as well as marketing and sales, the company
is looking for large corporate partners. The company maintains a small core team to
safeguard the core technology. Manufacturing, pre-clincial and clinical services etc. are
added on a fee for service basis.
Competitors: The indications targeted do not currently have appropriate treatments.
Competition comes from alternative treatment approaches for the indications. For ALS
there are approximately 50 molecules in clinical development, for SMA about half a dozen.
Anyway, any of these products must first achieve market approval from the regulatory
authorities. It is conceivable that successful treatment might be a combination of
approaches as in cancer for example.
Competitive Advantage: Neurotune has a unique - patent protected biologic target. The
company has shown pre-clinical proof of concept in 5 animals models of SMA, ALS, nerve
injury and sarcopenia. The patent portfolio covers targets, therapeutic biologic, inhibitor
molecules, biomarker, antibodies and assay formats.
Who are the current investors: Private individuals.
Capital raised to date: Approx. CHF 25mio.
Date and valuation of the last financing round: The last financing rounds were all
internal rounds.
Expected date of next financing round and main use of proceeds: As soon as possible
as the start of the preclinical development of the assets depends on funding. Funds
will be used to achieve clinical proof of concept for the agrin biologic in at least one
neuromuscular disease orphan indication.
Date of profitability: Neurotune is a biotech company with a drug development focus.
Profitability can only be reached as part of a self marketing scenario (from 2018/19
onwards); this, however is not the current business strategy.
Expected date of exit (and related strategy): The company is looking towards an exit via
trade sale or licensing followed by a tradesale. The target date for this is 2015 onwards.
The company will stay focused around essentially one asset in order to facilitate this
strategy.
Describe the protectability and sustainability of your technology advantages: All of
Neurotune’s relevant inventions are patent protected with recent patent applications. IP
protection is the core asset of the company.
Company Profile:
URL:
http://www.neurotune.com
Employees: 5
Founded: Feb-01-2005
Contact:
Armin Mäder
[email protected]
Location:
Wagistrasse 27a
Schlieren, ZH 8952
Switzerland
Management:
Bruno Oesch, Chairman
Stefan Hettwer, Head R&D
Armin Mäder, CEO
Advisors:
Lawyer: Badertscher Rechtsanwälte,
Zürich, Switzerland
Accountant: BDO AG (auditor)
Investors:
Private investors
Referred By:
Hugo Veysseyre
53
PicoSeq
One Line Pitch: PicoSeq is commercialising a novel technology to sequence DNA at unparalleled
levels of detail, speed, and accuracy.
Business Summary: PicoSeq’s DNA sequencing technology - known as SIMDEQ - is capable of
overcoming many of the biggest limitations of current sequencers. Using SIMDEQ, many genetic
regions and sequence types can be ‘read’ for the first time, including those that play central roles
in the processes underlying cancer and ageing. PicoSeq will initially develop the technology for
customers in the fields of basic and applied oncology research.
Management: Dr. Gordon Hamilton, CEO, has worked extensively in translational research in the
biotechnology sector for ChemoCentryx Inc., and has previously built up a successful international
healthcare education company. Dr. Charles André, CTO, has spent 17 years developing life-sciences
tools and their associated reagents for companies such as Bio-Rad, Finnzymes Instruments, and
Thermo Fisher Scientific.
Customer Problem: There are many genetic sequences and biochemical modifications to DNA
which are scientifically and commercially important (due to their role in cancer biology for example)
but that can not be ‘read’ using current sequencing technologies. PicoSeq’s SIMDEQ technology
provides a simple, rapid, and accurate way to overcome these problems.
Product/Services: PicoSeq develops and commercialises technologies that help unlock the
genetics of the biological world in novel and valuable ways. The company is starting commercial
development of its core SIMDEQ technology. This consists of a bench-top instrument-system,
together with the necessary biochemical reagent kits to operate it and software to interpret the data
that is generated. We expect SIMDEQ to be on the market within three years.
Target Market: At launch SIMDEQ will be optimised for two applications: the detection and
identification of microbial species; and the genetic/epigenetic characterisation of cancer. These
are highly dynamic markets. Although the $1.8bn microbial diagnostics market has a CAGR of
only 5%, current detection/identification approaches are being replaced with genetic tests. Genetic
biomarker discovery in oncology is a $5bn market with a projected 5yr CAGR of 25%.
Customers: 84% of sequencing tools are sold in North America and Europe with the market
growing at a CAGR of 17.5%. The end-users of the SIMDEQ technology will be organisations with
basic or applied research programs in either microbial or oncology genetics (an estimated ~3,500
worldwide). This includes both public organisations, such as academic labs and genomics centres,
and private companies operating in areas such as drug development or diagnostics.
Sales/Marketing Strategy: PicoSeq will work closely with its future end users to ensure that
the products it develops are appropriate to their needs. However, PicoSeq does not intend to
manufacture, market, or sell its instruments, reagents or software. Instead, these functions will be
licensed to companies that can rapidly establish their global sale. Such licensing agreements are
commonplace for companies such as PerkinElmer, Thermo Fisher and Becton Dickinson.
Business Model: PicoSeq believes that it can create most value for its shareholders as an R&D
focussed company, generating novel products for genetic analysis. Rights to manufacture and sell
PicoSeq’s instruments, reagents, and software will be licensed to suitable companies. Revenue
will be generated via royalties and/or profit-share of products sold. Reagent and software sales will
provide PicoSeq with strong recurring revenues for each instrument-system sold.
Competitors: Currently routine microbial detection and identification is performed using a wide
range of technologies spanning morphology detection and immunological testing, that are sold by
many different companies. Sequencing technologies are used infrequently except in cutting-edge
research due to their high cost. In oncology genetics, however, the latest sequencers are widely
used, sold by companies such as Life Technologies, Illumina, and Roche.
Competitive Advantage: The SIMDEQ approach to DNA sequencing and DNA modification
detection is well protected through a set of portfolio submissions and extensive know-how. It is
also a highly original approach that differs greatly from other sequencing techniques. PicoSeq has
substantial freedom to operate and to expand its intellectual property position. No other companies
are known to be pursuing approaches similar to SIMDEQ at this time.
Who are the current investors: Not applicable
Capital raised to date: So far PicoSeq’s founders have invested EUR 15,000 into PicoSeq, although
intend to contribute a total of EUR 80,000 prior to completion of Series A financing
Date and valuation of the last financing round: Not applicable
Expected date of next financing round and main use of proceeds: Expected date of next financing
round: May/June 2013. The proceeds will be used to achieve the following major milestones.
For Year 1: fully optimised DNA sample-preparation protocols and design-lock on all SIMDEQ
instrument components. In Year 2: the completion of an alpha-phase prototype and first publication
of data from a commercial-grade SIMDEQ instrument.
Date of profitability: We predict that PicoSeq will have a positive EBITDA within 3.5 years of
completion of our Series A financing round.
Expected date of exit (and related strategy): The most likely and preferred exit strategy for
PicoSeq is through trade sale. The larger life-sciences tools companies such as Life Technologies,
Illumina, and Roche are highly acquisitive of promising sequencing companies, even when still
in a technology development phase. PicoSeq aim to publish commercially compelling data using
a SIMDEQ pre-production prototype within 24 months and to use this as a catalyst for trade sale
discussions.
Describe the protectability and sustainability of your technology advantages: PicoSeq has
substantial freedom to operate. Although this is a strong position to be in, it is critical that PicoSeq
invests not only in development activities but also in the basic research needed to enlarge the
company’s underlying IP portfolio. This will allow us to continue to launch increasingly sophisticated
versions of our technology unimpeded. Key projects have been identified and are included within
our Series A financing requirements.
Company Profile:
URL:
http://www.picoseq.com
Employees: 3
Contact:
Gordon Hamilton
[email protected]
Location:
82 rue Fondary
Paris, IdF 75015
France
Management:
Gordon Hamilton, Dr
Charles Andre, Dr
Advisors:
Lawyer: Brunswick
Accountant: LPG Paris
Referred By:
M. Christian Policard - Biotech
Developpment Conseils, Paris, France
54
Pixium Vision
Business Summary: Développement d’une nouvelle génération de rétines artificielles
destinées au traitement des cécités liées aux maladies de la dégénerescence rétinienne
(rétinites pigmentaires en particulier).
Management: The management team includes Bernard Gilly, who founded the company
with Professor Jose-Alain Sahel (National Ophthalmology Hospital XV-XX), Robert Hill,
who directs operations (previously at IMI GmbH), which Ralf Hornig oversees clinical
trials and Dapper Marcus, an electronics engineer. Bernard Gilly is the founder of
several successfull biotechnology companies, including in particular Transgene, Fovea
Pharmaceutical, WebSurg.
Customer Problem: Retinal implants are designed to enable blind people to regain some
level of visual acuity in order to allow them to regain full autonomy in daily tasks (including
mobility). In a second step, these implants could allow blind people to recognize faces or
even read.
Product/Services: Pixium-Vision develops two new generations of artificial retinas,
the most advanced IRIS2 is a system with epiretinal electrodes 1560, the second IRIS3
based on a subretinal implant consists of 5000 passive electrodes. Clinical trials began in
February 2013. IRIS 2 will be launch in Q42014 and IRIS3 in Q2 2016
Target Market: There are more than one and a half million people suffering from retinitis
pigmentosa in the world, and nearly 40% of them are blind. In addition, a growing number
of elderly people suffering from macular degeneration are affected by blindness. The use
of retinal implants is the only potentially viable solution currently.
Sales/Marketing Strategy: Patients with retinitis pigmentosa are monitored in a number
of major ophthalmic centers with the best technical platforms and leading surgeons.
There are about fifty such centers in Europe together about 80% of patients with retinitis
pigmentosa. Pixium Vision plans to directly market its implants in these centers. Later
Pixium will expand indication to late forms of macular degeneration
Business Model: Pixium-Vision is funded by venture capitalists.
Competitors: There are few companies in this field. The best known is Second Sight Inc.,
a California company that has received CE Mark in 2012 for a first-generation implant (50
electrode epiretinal). Nanoretina, a USIsraeli company develops a new generation of retina
on the principle epiretinal but this company did not show prototype.
Competitive Advantage: The technologies developed by Pixium-Vision are protected by
more than 24 patent families.
Who are the current investors: 1) Omnès, Alexia Perouse, Paris 2) Abingworth, Tim
Haines, London
Capital raised to date: 11M€
Date and valuation of the last financing round: Mai 2012
Expected date of next financing round and main use of proceeds: 2014
Expected date of exit (and related strategy): 2015 (IPO)
Describe the protectability and sustainability of your technology advantages: Pixium
technology is proprietary or in the form of exclusive ww licenses
Company Profile:
URL:
http://www.pixium-vision.com
Employees: 15
Contact:
Bernard Gilly
[email protected]
Location:
13 rue Moreau
75012
Paris, IdF 75012
France
Management:
Robert Hill,
Chief Operating Officer
Ralf Hornig,
Bernard Gilly,
Chairman
Advisors:
Lawyer: Emmanuelle Porte (Nixon Peabody)
Investors:
Abingworth (UK)
Omnes Venture (France)
Polytechnos (Germany)
55
Presbeasy
One Line Pitch: The corneal diffractive inlay : a new surgical solution for an optimum and
flexible solution to the universal problem of presbyopia.
Business Summary: Presbyopia, linked to natural ageing of the eye, is a focus defect which
creates short distance vision problems. This universal defect has not found today a satisfactory
chirurgical solution for people who do not want to have the constraint of wearing glasses when
they reach the 40’s. Based on patented concepts developed by an ophtalmologist, Presbeasy
develops a new implant, an innovative solution which is efficient, reversible and non-invasive.
Management: Gilbert Cohen is the President of the Strategy Committee and Chief Scientific
Director, ensuring a strong link with the medical community. Arnaud Delectroix is the CEO of
the company, also in charge of business development and sales. Jean-Christophe Robert is
the Advanced Development Director, in charge of product development and industrialisation.
An Advisory Board and a Medical Committee support the strategy of the company.
Customer Problem: Presbyopia, linked to the natural ageing of the eyen is a focus defect
which creates short distance vision degradation: the 40’s glasses. This universal defect
has not found today a satisfactory surgical solution (contrary to myopia which is frequently
corrected by surgery). The number of people who do not want to have the daily constraint
of wearing glasses or contact lenses is growing and there is a lack of efficient solution for
presbyopia.
Product/Services: The product is an inlay for surgical correction of presbyopia. This is a
multifocal diffractive lens which combines the proven efficiency of diffractive multifocality to
the safety and the reversibility of corneal surgery. This surgery will be integrated in existing
refactive surgery procedures which are well mastered today. Presbeasy has demonstrated the
basic principles and built prototypes, the solution is now ready for pre-clinical tests.
Target Market: The market target is potentially all presbyopic people, which is 2 billion people
worldwide, continuously growing due to the global increase of the population, its ageing and a
more sedentary life style trend. Presbeasy limits its target to developed countries only for such
comfort solution, the estimated target population is 250 million people.
Customers: Our positioning is between 45, age of presbyopia beginning, and 65, age where
people are getting close to catarct and crystalline lense surgery. This represents about 250
million people worldwide. By comparison with myopia surgery, as the 2 populations are
equivalent in number, the estimated penetration rate is 0.5%, representing 2.5 million surgery
acts per year (for the 2 eyes).
Sales/Marketing Strategy: On this market the key decision makers are the prescribers, who
are the ophtalmologist surgeons. We implement a Medical Committe composed of recognized
experts in the field of refracftive surgery and cornea, in order to validate our approach and
make it credible, ensure communication to the international community on the basis of
clinical trials they will participate to build and run.
Business Model: Implants for ophtalmology are high added value products with significant
margins. The overall total accessible market is above 1 billion euros. This current market of
ophtalmic surgery is dominated by 5 major companies. We plan to launch commercialisation
of our product through industrial and distribution partnerships, with the objective of triggering
the interest of a large health group when the product is successful on the market.
Competitors: Presbyopia can be corrected by intraocular lenses as part of cataract surgery,
but the associated risks limits its use to people above 65. At the cornea level, laser solutions
exist but are not very efficient for presbyopia. There are intracorneal lenses starting to
penetrate the market, which have the advantage to be reversible, but none have the efficiency
of the optical design which is covered by the Presbeasy patents.
Competitive Advantage: The multi-focal diffractive lens is a unique product covered by
2 patents granted in 2009 and 2012, currently going through international processes. It
combines for the first time the clinically demonstrated performance of diffractive optics and
the reversibility and safety of a corneal inlay.
Date of profitability: 2017-2018
Expected date of exit (and related strategy): The strategy is to trigger the interest of a
major player in the health industry, once we are successful on this market. The anticipated
timeframe is 2018-2019.
technology advantages are protected by 2 patents, granted in France and going through the
procedures in key countries. A clearance study shows no obstacle for commercialization. In
addition we have a proactive innovation strategy in order to build a strong IP portfolio. We
have a product roadmap with plans to introduce new products, either by improvement of first
products or by introducing additional features.
Company Profile:
Employees: 5
Contact:
Jean-Christophe Robert
[email protected]
Location:
24A rue Jean Baldassini
69007 Lyon
Lyon, RA
France
Management:
Jean-Christophe Robert,
Advanced Development Director
Arnaud Delecroix,
CEO
Gilbert Cohen,
President and Chief Scientific Officer
Advisors:
Lawyer: MAGS
Accountant: Inextenso
56
Prestodiag
One Line Pitch: Prestodiag has developed an innovative optical technology for simple and
rapid detection of multiple bacteria in complex samples.
Business Summary: Prestodiag has developed an innovative system for rapid detection of
multiple bacteria in complex matrices. Our innovative optical technology allows simple and
rapid detection of dozens of pathogenic bacteria in real time, during their growth phase and
in onestep. This allows food manufacturers to shorten drastically time-to-result, from a few
days to a few hours. They can hence ship their products safer and faster than with existing
methods.
Management: Thibaut Mercey, co-founder & CEO, MSc in Optics (SupOptique, France, 2000),
MBA (London Business School 2010). Thibaut already co-founded and sold 2 start-ups in the
Life Sciences field (GenOptics to HORIBA and Dermoptics to Quantel). Félix Piat, cofounder
and VP Microbiology, MSc in industrial microbiology (AgroParisTech, France, 2009). Félix is
experienced in project management in microbiology industry (Merck-Millipore, Eurofins).
Customer Problem: Microbiological analyzes carried out in the food industry are laborious
and provide a result in one to several days. This delay is insufficient regarding the short
lifetime of particular goods, which regularly end up in retail stores before getting clearance
from microbiological tests. Workload of these methods also represents a major cost (40%)
and a source of error and Prestodiag’s technology directly addresses these two needs.
Product/Services: Prestodiag targets the market of pathogenic bacteria detection in the
food industry, which represents more than 140 million tests per year for a €625M+ value. In
France, hundreds of manufacturers realize more than eight million tests per year. In the midterm, Prestodiag will be able to address the entire industrial microbiology market (> €2bn)
and the medical market (> €3bn) with the same technology.
Target Market: Prestodiag firstly targets food industry pathogen testing first. That segment
performs more than 140 million tests per year, for a total value of $650M. Prestodiag
preferentially targets food manufacturers performing tests internally (in factory labs or
centralized internal labs). For France only (largest food industry market in Europe), there are
more than 8 million analyses performed per year, over a few hundred potential customers.
Customers: Our main targets are food manufacturers producing fresh goods and performing
microbiological analysis directly at their plants or at internal centralized labs. They carry out
from 1,000 to 50,000 analyzes per year to search for Salmonella, Listeria and E. coli. They
represent overall several thousand potential customers in France and in Europe. This market
grows by almost 10%/year, driven by increased regulation and frequent sanitary outbreaks.
Sales/Marketing Strategy: Prestodiag will start bêta-tests with food manufacturers from
March 2013 onwards, to get a quick feedback on the product. Prestodiag will use the same
instruments to cross-sell its other kits for various bacteria (because food manufacturers
usually search for multiple pathogenic bacteria in their products). Prestodiag will sell directly
to French customers and will use distribution networks for other countries.
Business Model: Prestodiag will sell, loan or give away optical readers depending on the
annual quantities of kits sold. 75-80% of revenus will be made with recurrent sales of
disposable kits. Re Les lecteurs optiques seront vendus, loués ou mis à disposition, en
fonction de la quantité de kits commandés par les industriels. Pour les canaux de vente, nous
vendrons en direct en France et nous nous appuierons sur des distributeurs à l’étranger.
Competitors: Three main technologies address the food safety market: Petri-dishes,
immuno-assays and molecular biology (PCR). They are marketed primarily by large
companies: BioMérieux, 3M, BioRad, Life Technologies, Neogen, Pall, Merck Millipore and
Thermo Fisher. Several new technologies are trying to break into the market, brought by
small entities (Xagenics, nanoMR, Invisible Sentinel,...), but they are not suited for complex
mixtures analyses.
Competitive Advantage: Prestodiag provides results in just a few hours, even in a few
minutes, without handling, where other methods require one to several days and a large and
skilled workforce. Prestodiag uses a patented technology from CEA (Grenoble, France) which,
together with our proprietary optical device, allow us to monitor the growth of pathogenic
bacteria in real-time, where other methods only perform an analysis after an overnight
incubation (“end-point”).
Who are the current investors: Friends and Family, CEA Investissement
Capital raised to date: €118k have been raised so far (Friends and Family round, September
2012)
Date and valuation of the last financing round: Last financing round : Friends and Family in
September 2012. €118k invested for a post-money valuation of €768k.
Expected date of next financing round and main use of proceeds: April 2013 - €1.2M-1.5M
to be raised (this amount can be tranched over 18 months). Money will be used to market
our first product (40%), finish industrialisation of our solution (30%), carry-on R&D on future
products (30%)
Date of profitability: mid-2015
Expected date of exit (and related strategy): Prestodiag has developed a breakthrough
solution, with label-free and real-time detection of bacteria. Trade sale is the most obvious
exit, within 2 to 5 years. Some large companies within the microbiology sector already
contacted Prestodiag to know more about our technology, which could be applied to various
sectors beyond food safety (healthcare, environment, pharma, cosmetic).
Describe the protectability and sustainability of your technology advantages: Prestodiag’s
technology is protected by 2 patent applications regarding the innovative optical device and
Prestodiag is about to sign an exclusive licence with the CEA (a renowned French Research
Institution) to exploit a process they patented. On top of that, Prestodiag will strengthen its IP
portfolio by filing more patent applications in the coming months.
Company Profile:
URL:
http://www.prestodiag.com
Employees: 5
Contact:
Thibaut Mercey
[email protected]
Location:
123 rue du faubourg Saint Antoine
75011 Paris
Paris, IdF
France
Management:
Félix Piat, M.
Thibaut Mercey, M.
Investors:
Family & Friends
Referred By:
MEDICEN Paris Region cluster
57
Probiodrug AG
One Line Pitch: New treatment for Alzheimer’s, prevention of toxic pEAbeta, QC-Inhibitor to
enter Phase II, disease-modifying, dominant IP, no therapy yet
Business Summary: Probiodrug discovers and develops novel drugs for neuronal diseases.
Its patent portfolio provides a dominant position for glutaminyl cyclase (QC) inhibition with
the lead PQ912 ready to enter Phase II. QC, a novel target, is essential for the formation of
pyroglutamated (pE) Abeta, which plays a crucial role in the pathogenesis of Alzheimer’s
disease (AD). Likewise, the company is pursuing a pEspecific antibody as immunotherapy
for AD.
Management: Dr. Konrad Glund, CEO; Hendrik Liebers, CFO; Dr. Inge Lues, CDO; Dr. Ronald
Black, CMO.
Customer Problem: High unmet medical need for the treatment of AD, no disease
modifying approach available, current therapies with limited efficacy and symptomatic mode
of action, many late stage failures - most recent with immunotherapy against specific sites
of full-length Abeta, current pipeline approaches target reduction of total Abeta while our
approach reduces/prevents formation of a small but toxic Abeta fraction essential in the
pathology of the disease.
Product/Services: Anti-pE-Abeta therapies for the treatment of Alzheimer’s Disease (AD):
•main program and focus: Glutaminyl Cyclase Inhibitors: PQ912 ready to enter Phase II;
follower PQ1228, early Phase I; backups
•pE-Abeta specific antibody, immuntherapy for AD, late LO.
Target Market: Patients with Sporadic Alzheimer Disease (>90% of all patients), muliple
$B p.a. for effective therapy.
Customers: Cf target market.
Sales/Marketing Strategy: Cf target market.
Business Model: Company to advance QC-program to proof of concept (clinical) followed by
exit (M&A or listing).
Competitive Advantage: Broad IP portfolio with medical use and composition of matter,
dominant IP position, drug development significant ahead of competition. See also
‘Customer Problem’.
Who are the current investors: BB Biotech, IBG, Ed. de Rothschild Investment Partners,
Goodvent Beteiligungsmanagement, TVM Capital, HBM BioVentures, Life Sciences Partners,
CFH Group - LBBW Group, Biogen Idec, Wellington Management
Date and valuation of the last financing round: 2011, valuation on request
Expected date of next financing round and main use of proceeds: Mid 2013, Lead
candidate: Phase IIa safety study, long-term-tox, prepare for proof of concept study in AD;
advance follower and backup, progress immunotherapeutic approach
Date of profitability: See Business Model: exit with M&A, trade sale or listing
Expected date of exit (and related strategy): 3 - 5 y from now (M&A or listing)
Describe the protectability and sustainability of your technology advantages: Dominant
IP position with medical use (access to target) and composition of matter patents
(compounds). Significant ahead of competition on QCinhibitors.
Company Profile:
URL:
http://www.probiodrug.de
Employees: 20
Contact:
Konrad Glund
[email protected]
Location:
Weinbergweg 22
D-06120 Halle (Saale)
Halle, SA
Germany
Advisors:
Lawyer: SNP Munich
Accountant: KPMG
Investors:
BB Biotech
IBG
Edmond de Rothschild Investment Partners
IBG
TVM Capital
HBM BioVentures
Life Sciences Partners
CFH Group - LBBW Group, Biogen Idec,
Wellington Management
58
RefleXion Medical
One Line Pitch: RefleXion is building a novel device that has the potential to revolutionize
metastatic cancer treatment.
Business Summary: RefleXion is a medtech company commercializing the first biologicallyguided radiotherapy system for cancer treatment. With a mission of transforming metastatic
cancer treatment using ablative/precise radiation, RefleXion is supported by the U.S National
Cancer Institute and luminaries in the field. Key proof-of-principle experiments have been
completed, and RefleXion is poised to raise Series-A capital for building a full-sized hardware
system.
Management: Samuel Mazin (President) was previously a Kauffman Entrepreneur Postdoctoral Fellow in Radiology at Stanford and invented RefleXion’s core technology. Akshay
Nanduri (VP BusDev) was previously the first employee / Director of SW at SlipStream (acquired
by BlackBerry for $80MM). Jay Watkins (Board Member) is a Managing Director at De Novo
Ventures and an experienced entrepreneur, executive and venture capitalist in the medical
device industry.
Customer Problem: Tumor motion forces a fundamental tradeoff between maximizing the
radiation dose delivered to the tumor and minimizing dose to surrounding healthy tissue.
Current methods to cope with motion are indirect and rely on imaging bony anatomy, implanted
fiducial markers or estimating breathing patterns. These methods do not guarantee that the
beam is on target during treatment and are especially not applicable for patients with multiple
tumor sites.
Product/Services: RefleXion Medical is developing the first biologicallyguided radiotherapy
system for cancer treatment. By leveraging Positron Emission Tomography (PET) in a novel way,
RefleXion’s patented technology will allow tumors to continuously signal their location during
treatment. RefleXion’s system will revolutionize cancer treatment by enabling curative and highdose radiation therapy for many advanced stage patients with multiple disease sites.
Target Market: The worldwide radiotherapy equipment market is currently $4.2B in size,
with ~900 new systems sold every year and 8% annual revenue growth. While the market is
dominated by Varian and Elekta, innovative new systems can capture meaningful market share,
as demonstrated by Accuray and TomoTherapy (two relatively new entrants who have recently
merged) increasing their combined revenue from ~$15MM to $350MM in 5 years.
Customers: Initial customers will be top academic institutions such as MD Anderson, Sloan
Kettering and Dana Farber. These first customers will likely have leading programs in ablative
radiotherapy and a patient population to support clinical studies. Once the U.S academic-center
segment is penetrated, RefleXion will target multicenter chains such as US Oncology, 21st
Century and Alliance Oncology, who collectively own over 250 centers across the U.S.
Sales/Marketing Strategy: Since the U.S comprises 50% of the worldwide radiotherapy market,
510(k) approval will be sought first with the CE Mark pursued 12 months later. Initial customer
adoption will be fueled by competition between U.S cancer centers as well as RefleXion’s
fundamental advantage in tumor targeting. Clinical studies demonstrating RefleXion’s unique
ability for tracking/treating multi-focal disease will be carried out in parallel with the sales ramp.
Business Model: RefleXion will sell its novel PET-guided radiotherapy system for ~$4MM USD.
Cost of Goods, including first year warranty, is estimated to be $1.9MM with service contracts
generating 10% of the selling price for each installation. In the radiotherapy equipment market,
customers typically provide a 10%-20% deposit on each system sale, and this can be used to
meet working capital requirements for building out inventory.
Competitors: Varian Medical Systems (NYSE:VAR) holds a dominant position in the radiotherapy
equipment market with $2.0B in FY2011 revenue and Elekta (STO:EKTA B) follows closely with
$1.3B in FY2011 revenue. A relatively new entrant, Accuray (NASDAQ:ARAY) captured 10% of
the market (FY2011 revenues of $410MM) through rapid organic growth and the acquisition
of TomoTherapy in 2011 for $277MM. Other participants include privately owned ViewRay and
Mevion.
Competitive Advantage: RefleXion’s PET-guided radiotherapy system takes a new approach
and philosophy to tumor targeting, tracking and treatment delivery. Signals originating directly
from the tumor itself will guide the treatment beam, removing the margin of uncertainty
surrounding the tumor volume and resulting in more radiation dose to cancerous areas with
lower dose to healthy tissue. RefleXion is building a strong IP position as described in our
‘Investor Slides’
Capital raised to date: $300K in convertible-note financing. $260K in non-dilutive grant funding
from the U.S National Cancer Institute
Date and valuation of the last financing round: RefleXion is unpriced.
Expected date of next financing round and main use of proceeds: Q2-2013, with $11MM in
funding used to build and assemble a full-sized hardware system in 2.5 years. The output of the
round will be PET ‘phantom’ experiments which will serve as the basis for a 510(k) submission
to the FDA.
Date of profitability: By Year6, RefleXion will have positive EBIT.
Expected date of exit (and related strategy): RefleXion expects to build significant value
with each completed milestone. Series-A (development of full-sized hardware system).
Series-B (510k approval) and alpha site installation. With each milestone achieved, RefleXion
will pragmatically partner with market leaders and considers each stage an attractive exit
opportunity for investors.
Describe the protectability and sustainability of your technology advantages: RefleXion’s
core technology became an issued patent on 9/2011 (U.S 8,017,915) with 26 key claims allowed.
On 3/2012, RefleXion filed a PCT application (WO/2012/135771), which covers novel techniques
which enable the core technology in various clinical settings. The final piece is complimentary
technology exclusively licensed from the University of Chicago (U.S 7,265,356 B2) covering 59
claims of PET imaging combined uniquely with radiotherapy.
Company Profile:
URL:
http://www.reflexionmedical.com
Employees: 2
Contact:
Akshay Nanduri
[email protected]
Location:
1633 Bayshore Highway
Suite 126
Burlingame, CA 94010
United States
Management:
Morry Blumenfeld,
Business Advisor
Jay Watkins,
Board Member
Akshay Nanduri,
VP Business Development
Samuel Mazin,
President
Advisors:
Lawyer: Morrison & Foerster
Accountant: RINA
Investors:
John C. Ford, former SVP at Varian Medical
Systems
David Auerbach, founder of IMPAC
(acquired by Elekta for $250MM)
Jonathan Fleming, Managing Partner of
Oxford Biosciences
Referred By:
Gerard Hascoet, Venture Partner at
Sofinnova Partners (Paris)
59
TROPHOS
One Line Pitch: Trophos is an advanced clinical stage pharmaceutical company developing
innovative therapeutics for indications with underserved needs.
Business Summary: Trophos is a privately owned clinical stage biopharmaceutical company
located in Marseille, France. Trophos’ management has internationally renowned expertise
in the identification and the development of drug candidates, the management of internal
projects for clinical drug developments in several indications with unmet medical needs in
neurology and cardiology as well as the successful financing of the company through several
financing rounds.
Management: Trophos management team comprises over 100 years combined experience
in major biotech and large scale pharmaceutical companies. Members of the management
team have authored or coauthored nearly 100 articles in peer-reviewed publications, and
are inventors on 16 patent applications covering a full range of scientific innovations. The
combination of the management team blends critical achievements in scientific, business
and commercial expertise.
Customer Problem: Spinal Muscular Atrophy (SMA) is a genetic neuromuscular disease
characterized by muscle atrophy and weakness caused by a gene deletion. Multiple
Sclerosis (MS) is an autoimmune disease with neurodegenerative features especially in
its progressive forms. Ischemia Reperfusion Injury (IRI) is a result of reperfusion during
myocardial infarction with additional damage. Until now, no drug has been approved for the
treatment of these conditions.
Product/Services: Trophos’ first clinical candidate olesoxime (TRO19622) is targeted
towards Spinal Muscular Atrophy (SMA) and Multiple Sclerosis (MS). Olesoxime has
also shown promising results obtained in preclinical models of Huntington’s disease
and Alzheimer’s disease as well. Trophos’ second clinical candidate TRO40303 is being
developed forCardiac Ischemia-Reperfusion Injury (IRI).
Target Market: SMA is an orphan disease – a rare disease underserved by the medical
community. IRI and MS disability progression are both niche indications. They have either
no current treatment (SMA and IRI) or extremely limited options (MS disability progression.)
These indications have market potential ranging from more than $200 million for SMA,
more than $500 million for IRI to more than $1 billion for MS disability progression
Sales/Marketing Strategy: All three indications are either orphan or niche markets with
the limited numbers of prescribers - hence positioning the company as a «speciality»
pharmaceutical company. Regarding SMA and MS there is no approved product & limited
number of diagnosing/ prescribing physicians in specialist centres while the IRI market
could be addressed by targeting hospital based interventional cardiologists only.
Business Model: Trophos aims at exploiting on its own olesoxime for SMA in Europe and
out-license the exploitation of olesoxime in SMA for other territories as well as foir the use
of olesoxime in MS on a global basis. Regarding TRO40303, Trophos aims at out-licensing
the compound as well following the results of the ongoing phase 2 proof of concept study.
Competitors: Since there are no current treatment addressing the health issues addressed
by our drug candidates, competition is currently found only in the R&D pipeline of other
pharmaceutical companies. Indeed the number of identified ongoing competing programs
for SMA is 5, 9 in IRI and 7 specifically addressing remyelination in MS. It should be noted
that for both SMA and remyelination in MS, olesoxime is the most advanced program in
development.
Date of profitability: First sales of olesoxime in SMA could occur as soon as 2015 with first
profits generated on 2016.
Expected date of exit (and related strategy): Trophos will consider either M&A or IPO
in the period 2015 to 2016 depending on the one that will generate the most value to its
shareholders while allowing to the further development of the company’s assets.
Describe the protectability and sustainability of your technology advantages: Olesoxime
(TRO19622) benefits from patent protection at least until 2024 and TRO40303 benefits from
patent protection at least until 2025.
Company Profile:
URL:
http://www.trophos.com
Employees: 27
Contact:
Christine Placet
[email protected]
Location:
Parc scientifique de Luminy
Marseille, PACA 13009
France
Management:
Marceline Clémentine,
Pascal Longlade,
Patrick Berna,
Chief Development Officer
Rebecca Pruss,
Chief Scientific Officer
Christine Placet,
Chief Executive Officer
Advisors:
Lawyer: Pauline Chenieau
Accountant: Marie-Laure Guidi (Innovatech)
Investors:
Amundi PEF
Viveris Management
Turenne
60
TXCELL
One Line Pitch: Regulatory T-Cell therapy, a new paradigm for the treatment of refractory
patients with severe chronic inflammatory and autoimmune disease.
Business Summary: TxCell is dedicated to the development of novel personalized cellbased therapies for the treatment of severe chronic inflammatory and autoimmune
diseases with high unmet medical need. Our lead product candidate, Ovasave®, has
completed a PI/II clinical trial in patients with chronic active Crohn’s disease, refractory to
current treatments. A multinational PIIb clinical trial is in preparation to confirm the safety
and efficacy data.
Management: The management team brings a balanced mix of US and European, senior
management experience from Big Pharma and smaller Biotech, including product
approvals in the area of interest, as well as a solid scientific track record. A Medical and
Scientific Advisory Board, with a good representation from European and US experts,
provides TxCell with critical clinical & scientific advice and introductions to US and European
markets.
Customer Problem: TxCell uses a different paradigm to treat complex severe chronic
inflammatory and autoimmune diseases for which existing treatments or others in
development have shown either limited or lack of efficacy in refractory patients. TxCell
seeks to offer an alternative even after failure of existing and new treatments for late stage
patients. The uniqueness of the technology consists in a multi-therapeutic target approach
and a personalized treatment.
Product/Services: TxCell is developing next generation and unique cellbased
immunotherapies for refractory patients with severe chronic inflammatory disorders. TxCell
has completed a positive PhI/II study with its first product in severe refractory Crohn’s
disease patients and prepares a confirmational placebo-controlled PhIIb international study.
TxCell plans to bring a second candidate into the clinic in order to confirm the breadth of the
technology platform.
Target Market: TxCell focuses on the refractory patient population of the major chronic
inflammatory diseases, a multi-billion $ market opportunity and clearly address high
medical needs. With its first product candidate, TxCell targets refractory patients with
moderate to severe Crohn’s disease, after 3rd line treatment. To date there are over 100
000 such patients (US and Europe) and annual treatment costs with biologics amount to
20-30k€ per patient.
Customers: TxCell uses a different paradigm to treat complex severe chronic inflammatory
and autoimmune diseases for which existing treatments or others in development have
shown either limited or lack of efficacy in refractory patients. TxCell seeks to offer an
alternative even after failure of existing and new treatments for late stage patients. The
uniqueness of the technology consists in a multi-therapeutic target approach and a
personalized treatment.
Sales/Marketing Strategy: Personalized cell-based products with a convenient longterm regimen offer a competitive pricing to current biologics in development and are well
perceived by patients. A fully integrated internet-based product distribution system will
establish these products as the next generation treatment options for complex diseases.
Business Model: TxCell is developing next generation cell-based products for refractory
patients with severe chronic inflammatory disorders. TxCell will establish a partnership for
PhIII development and commercialisation of Ovasave® in Inflammatory Bowel Disease to
bring it successfully to market. TxCell will develop additional, possibly orphan indications,
on its own by leveraging the technology platform and the regulatory incentives for orphan
indications.
Competitors: Ovasave® is positioned to supersede alternatives in refractory patients in
Crohn’s disease and offers a third line treatment option. Conventional approaches (antiInterleukins, NCE’s chemokines and Jak 1,2,3) and novel alternatives including vaccines to
TNF’s and MSC’s in development have failed to show so far significant incremental benefit in
Crohn’s disease.
Competitive Advantage: The targeted competitive advantages of Ovasave® are: local
immune-suppression, high response and remission rate in refractory patients, multi target
treatment, and convenient administration regimen of a personalized product well accepted
from patients by using their own cells.
targeted competitive advantages of Ovasave® are: local immune-suppression, high
response and remission rate in refractory patients, multi target treatment, and convenient
administration regimen of a personalized product well accepted from patients by using their
own cells.
Company Profile:
URL:
http://www.txcell.com
Employees: 33
Founded: Apr-12-2001
Contact:
François MEYER
[email protected]
Location:
Allée de la Nertière
Les Cardoulines
Valbonne, PACA 05560
France
Management:
Christophe Sarlot,
VP Finance and Administration
Arnaud Foussat,
VP Research and New Product Development
Miguel Forte,
Sr. VP Clinical Development and
Regulatory Affairs
François Meyer,
Chief Executive Officer and Chairman
of the Board
Advisors:
Lawyer: CVML, HBC AVOCATS
Accountant: KPMG - PKF
Investors:
Innobio
CDC Entreprises
Auriga Partners
Seventure Partners
Axa Private Equity
Innovation Capital
Inserm Transfert
Initiative
61
VitamFero
One Line Pitch: VitamFero develops new proprietary live attenuated vaccines especially
against animal and human parasitoses.
Business Summary: VitamFero holds a proprietary vaccine platform and a unique knowhow based on the establishment and use of live attenuated protozoan parasite strains.
Perfectly described and controlled, these strains and their recombinant derivatives are
the API of anti-infectious vaccines, currently developed mostly against certain animal
and human parasitoses such as toxoplasmosis or malaria the prevention of which still
represents huge medical unmet need.
Management: Pascal BRETON PhD, President, CEO and co-founder, +20 year experience
in the pharmaceutical and biopharmaceutical industry ; Edouard SECHE PhD, Head of
Research and co-founder, 10 year experience in the biopharmaceutical industry ; Didier
ROY Engineer, MBA, Head of Development, 25 year experience in the pharmaceutical and
biopharmaceutical industry.
Customer Problem: VitamFero’s vaccines bring responses to very important and still unmet
medical needs. It’s, for instance, the case in animal health for the prevention of bovine
neosporosis and cryptosporidiosis, or in human health, for the effective vaccination against
malaria or leishmaniasis.
Product/Services: Novel live attenuated anti-infectious vaccines currently in development.
At this stage, VitamFero has set up an industrial partnership with one of the major animal
health global leaders.
Target Market: According to our industrial partner, VitamFereo’s targeted veterinary
markets amount about €700 million annually. The human health markets of toxoplasmosis,
malaria and leishmaniasis are estimated at €8 billion annualy.
Customers: Through its industrial partners, in animal health VitamFero targets livestock
farmers and veterinaries. In human health, VitamFero’s products are intended for
infectiologists and non-for-profit organizations whose objective is to eradicate neglected
diseases or diseases such as malaria in endemic geographies.
Sales/Marketing Strategy: VitamFero will market its vaccines through license and
distribution agreements executed with most prominent industrial partners. VitamFero
already established a first partnership with one of the world Top 3 veterinary companies.
Business Model: Vitamfero’s business model is based on an out-licensing strategy
implemented at different development stages of our products. So that, VitamFero will set
up partnerships with different global animal and human health companies. VitamFero will
receive from its licensees milestone payments and royalties on vaccines.
Competitors: The competition that VitamFero is facing is rather limited since, in animal
health, very few parasite vaccines are available and their safety and/or effectiveness is not
satisfactory. In human health, no parasite vaccine is currently registered and marketed.
Apart from GSK malaria vaccine (i.e. Mosquirix) to be launched in the coming months and
showing a low effectiveness, no or very few parasite vaccines are in advanced development.
Competitive Advantage: Safety, regulatory affairs, DIVA diagnostic kit potentially available
Who are the current investors: FCPR CapDecisif 2, G1J Ile-de-France, Val de France
Angels
Capital raised to date: €1.8 million
Date and valuation of the last financing round: January 28, 2011 - Pre-money valuation:
€1.0 million - Postmoney valuation: €2.5 million
Expected date of next financing round and main use of proceeds: June 2013 at the latest €9 million to cover mostly R&D expenses between now and the break even in 2016
Describe the protectability and sustainability of your technology advantages: VitamFero’s
parasite strains and their use as live attenuated vaccines are or will be patented. They
represent a real technology breakthrough and offer strong competitive advantages since,
unlike other available live attenuated vaccine, the origin of the attenuation is perfectly
described and there is absolutely no risk of return to virulence. Also, these live attenuated
strains represent very promising vectors for the expressions of antigens.
Company Profile:
URL:
http://www.vitamfero.com
Employees: 9
Contact:
Pascal BRETON
[email protected]
Location:
UFR des Sciences Pharmaceutiques
Philippe-Maupas
31 avenue Monge
Tours, Centre
France
Management:
Didier ROY,
Head of Development
Edouard SECHE,
Head of Research
Pascal BRETON,
President and Chief Executive Officer
Advisors:
Lawyer: Dechert (Paris, France) LLP
Accountant: In Extenso (Deloitte) (Tours,
France)
Investors:
CapDecisif Management
G1J Ile-de-France
Val de France Angels (16 Business Angels)
62
Xeltis
One Line Pitch: Solutions for a Lifetime for cardiovascular patients
Business Summary: Xeltis is a privately held medical device company dedicated to
transforming standards of care in heart valve replacement and vascular surgery. The
company’s proprietary COR (Cardiac Organ Regeneration) technology combines novel
biodegradable biomaterials with sophisticated material processing methods to deliver
an implant prosthesis that allows patients to regrow organs in their own bodies, using
their own cells.
Management: Very experienced executive team (see bios), board and world-leading
strategic, scientific and clinical thought leaders.
Customer Problem: Solution to critical clinical limitations, reduced cost of healthcare,
significantly improved manufacturing costs and supply chain, improved minimal invasive
medical device designs.
Product/Services: Xeltis is a privately held medical device company dedicated to
transforming standards of care in heart valve replacement and vascular surgery. The
company’s proprietary COR (Cardiac Organ Regeneration) technology combines novel
biodegradable biomaterials with sophisticated material processing methods to deliver
an implant prosthesis that allows patients to regrow organs in their own bodies, using
their own cells.
Target Market: Heart valve and vascular surgery markets: several billions market.
Customers: Depends on applications. 300,000 valve replacements/year.
Sales/Marketing Strategy: KOL strategy - mix of direct distribution and distributors
depending on geographies.
Business Model: Selling products. Options to license certain applications.
Competitors: Existing products: animal tissue, PTFE... Decellularized allografts.
Competitive Advantage: Revolutionary application of established science: Xeltis has
leveraged the convergence of several scientifically sound technologies, including
supramolecular chemistry, advanced material science and tissue engineering, to
develop a first-in-class solution that can be delivered with confidence.
Who are the current investors: Private investors and the Zurich Kantonal Bank
Describe the protectability and sustainability of your technology advantages: 11
families of patents protecting both novel materials and specific advanced processing
methods.
Company Profile:
URL:
http://www.xeltis.com
Employees: 16
Contact:
Laurent Grandidier
[email protected]
Location:
Muhlebachstrasse 26
Zurich, ZH
Switzerland
Management:
Marijn Cox,
Director of R&D and GM Eindhoven
Mirjam Rubbens,
Director of R&D
Andreas Emmendoerffer,
VP Operations
Oleg Svanizde,
CMO
Laurent Grandidier,
CEO
Advisors:
Accountant: Ante Treuhand
Investors:
Private investors
Zurich Kantonal Bank
Referred By:
Angelo Da Rosa, Medtronic and Antoine
Papiernik, Sofinnova
63
XL-protein GmbH
One Line Pitch: XL-protein seeks € 12 VC funding (Ser.A) for its spin-out XL-biologics to
develop a PASylated CD40L-Fab until the end of clinical phase I.
Business Summary: XL-protein, a privately owned German biopharmaceutical company,
develops superior biopharmaceuticals with extended plasma half-life utilising the
revolutionary PASylation® technology. XL-protein’s goal is to provide improved second
generation biologics that permit less frequent and lower dosing together with better
tolerability, thus making treatment cheaper and supporting patients compliance and safety.
Management: XL-biologics will be established by the team leading XLprotein, which was
founded by four individuals who combine high scientific and economic skills. Two of the
founders have already set up another sucessful biotech company. This team will found
XL-biologics with the aim to create value by building a successful and rapidly developing
start-up company.
Customer Problem: PASylated Fab fragment directed against the CD40 ligand (CD40L)
on T-cells could have several benefits over the corresponding full-length antibody, which
has been clinically validated. XL-protein`s pasylated Fab should lead to an improved safety
profile as well as a benefitial cost profile.
Product/Services: XL-protein, a privately owned German biopharmaceutical company,
develops among other compounds, superior AB fragments with extended plasma half-life
utilising the revolutionary PASylation® technology. XL-proteins’ goal is to provide improved
AB fragment biopharmaceuticals that permit less frequent an lower dosing together with
better tolerability and safety, thus making treatment cheaper and supporting patients
compliance and safety.
Target Market: Despite the high expected market potential of 1.8 billion USD, only few other
biologics are in development for corresponding indications.
Customers: Lupus is a complex and chronic autoimmune disease that affects around 5
million people worldwide. In the United States alone, it is estimated that between 270,000
and 1.5 million people suffer from SLE, whereas in Europe SLE affects approximately 0.6
to 1.8 in 10,000 people. This is equivalent to a total of around 23,000 to 69,000 patients in
Europe, which is at least in Europe within the threshold for orphan designation (5 in 10,000
people).
Sales/Marketing Strategy: XL-biologics will approach pharma, advanced biotech or
biogeneric companies . The compound is ideally suited for big pharma or biotech companies
like Amgen or GlaxoSmithKline to broaden its infammatory disease pipeline. The exisiting
network of XL-biologics’ experienced founders will facilitate contact to appropriate pharma
companies on a high level. Furthermore, XL-biologics will continuously present its products
at conferences.
Business Model: XL-biologics’ business model is to create value through clinical
development of superior versions of validated blockbuster drugs. The financing round
will enable the company to develop the preclinically validated lead product until the
end of clinical phase I. XL-biologics intends to execute a product deal or a trade sale or
alternatively, a new financing round to enable the company to take the lead product to the
next inflection point.
Competitors: Currently, only few antibodies for the treatment of SLE are in clinical trials:
Atacicept from MerckSerono (Phase III), BT063 from Biotest (Phase III), and Lupuzor from
Cephalon (Phase II). In collaboration with UCB, BiogenIdec develops an alternative to
Antova, a humanized anti-CD40L Fab fragment which is believed to diminish pathogenic B
cell activities in lupus.
Competitive Advantage: Higher safety: no Fc-part: reduced adverse events,no receptor
dimerization, lack of receptor activation Biodegradability: no organ accumulation (cf. PEG).
Tuneable half-life & tissue penetration: chronic diseases: long half-life, comparable to an
antibody mid-size PAS: adjust dosing to reduce adverse effects of some full-length mABs.
Manufacturing: cheap & fast production through high yield secretion in E. coli.
Who are the current investors: privately financed.
Expected date of next financing round and main use of proceeds: Q2 2013 development of
lead candidate until end Phase I see also business summary.
Expected date of exit (and related strategy): 2015/2016 see also investor slide deck for exit
routes and related strategy.
Describe the protectability and sustainability of your technology advantages: XLprotein develops and markets its proprietary PASylation technology. XL-protein can offer
composition ot matter IP for its technology with key patents granted in the EU.
Company Profile:
URL:
http://www.xl-protein.com
Employees: 8
Founded: May-01-2009
Contact:
Claus Schalper
[email protected]
Location:
Lise-Meitner-Str. 30
85354 Freising
Freising, BY
Germany
Management:
Uli Binder, CTO
Claus Schalper, CFO
Prof. Dr. Arne Skerra, CEO
Referred By:
Munich Network
p a r t n e r s &
s p o n s o r s
66
co-organizers
COORDINATOR
sponsors
european partners
BIOVISION
Operated by
With the support of
67
ACKNOWLEDGMENTs
Many of you contributed to this event to make it a success.
We are delighted in particular to thank the following persons:
All the members of the Selection Committee:
Tim Haines, Abingworth - Alain Huriez, Advent Venture Partners - Davide Turco, Atlante Ventures - Franck
Lescure, Auriga Partners - Ilka Wicke, Boehringer Ingelheim Venture Fund - Sven Rohmann, Burrill &
Company - Marie-Laure Guarrigues, CDC entreprises - Celia Hart, CEA Investissements - Joey Mason,
Delta Partners - Marcel Kloosterman, DSM Venturing - Thom Rasche, Earlybird Venture Capital - Jesus
Martin-Garcia, Eclosion - Maciek Drozdz, Entrepreneurs Fund Management LLP - Mark Redshaw, Evonik
- Christina Takke, Forbion Capital Partners - Manus Rogan, Fountain Health Partners - Mark Wilson,
GlaxoSmithKline Pharmaceuticals - Hans Kuepper, Global Life Sciences Ventures - Roman Fleck, Index
Ventures - Maurizio PetitBon, Kreos Capital - Muriel Bekto, LifeScan J&J - Gérard Hascoet, MDStart Angelo De Rosa, Medtronic Europe - Jasper Bos, Merck Serono Ventures - François Valencony, Merieux
Developpement - Aris Constandinides, NBGI - Ivica Cerina, NGN Capital - Renee Aguiar-Lucander, Omega
Funds - Daniel O’Mahony, Seroba Kernel - Isabelle de Cremoux, Seventure - François Miceli, Sofimac Antoine Papiernik, Sofinnova Partners - Claus Andersson, Sunstone Capital - Alexandra Goll, TVM Capital
- Diego Braguglia, VI Partners AG - Lukas Guenther, Wellington Partners Venture Capital GmbH
All the speakers of the conference and workshops:
Philippe Archinard, Lyonbiopole - Laurent Arthaud, CDC Entreprises - Christian Béchon, LFB - Paul-Henry
Benhamou, DBV Technologies - Francis Carré, Sanofi - André Choulika, France Biotech - Angelo de Rosa,
Medtronic - Ralf Emmerich, European Investment Fund - Olivier Exertier, Algoe - Maïlys Ferrere, FSI Roman Fleck, Index Ventures - Bernard Gilly, Biomage - Hervé Gisserot, GSK Europe - Jean-François Hamel,
MIT - Mike Hardman, AstraZeneca - Peter Lachmann, University of Cambridge - Pierre-Noël Lirsac, LFB
CELLforCURE - Marja Makarow, European Commission - Jean-David Malo, European Commission - Rudi
Pauwels, Biocartis - Franck Petitgas, Morgan Stanley - Mario Philips, ATMI Life Sciences – Sundar Ramanan,
Amgen - Olivier Raynaud, World Economic Forum - Tristan Rousselle, PX-Delpharm Biotech - Maya Said,
Sanofi - João Santana da Silva, FIPASE - Paul Seabright, Institute for Advanced Study - Hervé Suty, Veolia
Environnement - Stephan Tanda, Europabio - Albertina Torsoli, Bloomberg News - François Valencony,
Mérieux Development - Patrick Verheyen, Johnson & Johnson Innovation Center - Chris Viehbacher, Sanofi
- Bonnie Wolff - Boenisch, Science Europe - Linda Zheng, Conduit Venture - Jürg Zürcher, Ernst & Young AG
All the presenting companies:
Nicolas Durand, Abionic SA – Philippe Verwaede, AlzProtect – Vincent Charlon, Anergis – Jay Hennock,
BioAtrix – Bertrand Merot, Biosourcing – Enrico Bastianelli, Bone Therapeutics – Patricia Sigam, Digital
Med Lab – François Chatelain, Cytoo - Jian-Sheng Sun, DNA Therapeutics – Stephan Demotz, Dorphan –
Andrei Popov, Ecrins Therapeutics – Pierre Belichard, Enterome – Martin Bonde, Epitherapeutics – Vincent
Tempelaere, Eveon – Olivier Chiarisoli, Eydo Pharma – François Curtin, GeNeuro – Ursula Ney, GenKyoTex
– Benedikt Timmerman, Genticel – Giancarlo Ghiselli, Glyconova – Chris Jones, Glysure – Fred Marin, GMP
Orphan – Joel Crouzet, Innavirvax – Roberto Guerrieri, Mindseed Labs – Jon Hoem, Miracor Medical – Judit
Folgueira, Mosaic Biomedicals – Armin Mäder, Neurotune AG – Gordon Hamilton, Picoseq – Bernard
Gilly, Pixium Vision - Jean-Christophe Robert, Presbeasy – Thibaut Mercey, PrestoDiag – Konrad Glund,
Probiodrug – Ashkay Nanduri, Reflexion Medical – Christine Placet, Trophos – François Meyer, TxCell –
Pascal Breton, VitamFero – Laurent Grandidier, Xeltis – Claus Schalper, XL-protein
We thank all the attendees, company CEOs, start-up project managers and investors that contribute to the
success of this event.
We also thank our European Cluster Partners for their contribution in sourcing innovative European projects
and in promoting the event.
Finally, we warmly thank the Organization Team for their support and their involvement to make BIOVISION
INVESTOR CONFERENCE a success and especially : Index Ventures, Roman Fleck, Chairman of the selection
committee – BIOVISION, Co-Organizer, Didier Hoch, Bernadette Guagliatta Stalmans, Nicolas Meynaud,
Christophe Dercamps, Aurélie Viotto and Souad Gara – HumanEye, Jean-Marc Soustre, Coordinator –
Lyonbiopole, Co-Organizer, Isabelle Scarabin and Kevin Romani.
69
contacts
BIOVISION
[email protected]
[email protected]
HUMANEYE
[email protected]
LYONBIOPOLE
[email protected]
/ 04 78 90 77 91
www.biovision.org
Operated by
With the support of
Co-organized with

SUPPORTING THE GROWTH OF LIFE SCIENCES

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