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Patell Slides - US-Asia Technology Management Center
Doing Business With Your Technology in Asia High-Growth Asia Markets - Panel 2 Emerging Biotech Markets in Asia Dr. Villoo Morawala Patell Founder & CEO, Avesthagen Avesthagen: The Food-Pharma Convergence Platform Nutrition for health Seed for food Foods Health Foods Plant for medicine Bio-therapeutics Supplements Agenda ¾ Biotechnology in Asia ¾ Funding to Milestones – Conventional vs. Avesthagen Experience ¾ Global Model for Indian Biotechnology ¾ Balancing R&D Services with IP Development Biotechnology in Asia • Asia is the second largest biotech market in the world with an anticipated revenue of $100 by 2005 • A snapshot of Asia Pacific countries spending to build their biotech industry : Korea plans to spend $10.8B Singapore has set aside $2B over the next 5 years towards biotechnology industry. DBT in India has set up $21 million venture fund. Japan wants to create $ 217 billion biotechnology industry to employ Taiwan is promoting BT as the In China, in 10 years 50% of nation 80,000 people in 1000 biotech next major growth sector& creating biotech field are expected to be planted firms by 2010. Manufacturing zones in each with biotechnology crop. of 5 industrial parks. Asia/Pacific (excluding Japan) Bio-IT Percentage Split by Sub-Region (2002) Source: RIS, India Funding to Milestones - ‘Venture Capital Model’ Idea is Feasible Risk (ß) Knowledge KnowledgeAcquisition Acquisition &&Concept Investigation Concept Investigation P(success) = 30% Reqd IRR = 100% Company / IP Valuation Capital Seed Funding Friends and Family Funding to Milestones - ‘Venture Capital Model’ Idea is Feasible Technology Woks Risk (ß) Basic BasicDesign Design&& Prototype PrototypeBuilding Building P(success) = 30% Reqd IRR = 100% Patent PatentApplication Application P(success) = 40% Reqd IRR = 70% Company / IP Valuation Capital Seed Funding R&D Capital Venture Capital Funding to Milestones - ‘Venture Capital Model’ Idea is Feasible Technology Works A Customer Buys Market MarketEntry Entry P(success) = 50% Reqd IRR = 50% Risk (ß) Patent PatentGranted Granted Company / IP Valuation P(success) = 30% Reqd IRR = 100% P(success) = 40% Reqd IRR = 70% Capital Seed Funding R&D Capital Go-to-Market Captial Domain specific Venture Capital Funding to Milestones - ‘Venture Capital Model’ Idea is Feasible Technology Works A Customer Buys P(success) = 80% Req’d IRR = 30% Manufacturing Manufacturing Ramp-up Ramp-up P(success) = 50% Reqd IRR = 50% Company / IP Valuation Risk (ß) P(success) = 30% Reqd IRR = 100% P(success) = 40% Reqd IRR = 70% IP IPOut-licensing Out-licensing Capital Seed Funding R&D Capital Go-to-Market Captial Expansion Captial IPO Funding to Milestones – ‘Avesthagen Experience’ Idea is Feasible Technology Works A Customer Buys Interim Funding Round ($720K @ 24% interest) Technology Grants ($1.08 million in loans) Risk (ß) Company/ IP Valuation Absence of Biotech Domain Investors Seed Funding $300K Series A Funding $1.8 million Go-to-Market Captial Capital Expansion Captial Flat IPO Market! Global Model for Biotechnology in India Avesthagen SA Avesthagen SA Research based in Europe to ResearchOutsourcing Outsourcingplatform platform based in Europe to Avesthagen Inc. based ininBangalore with market services and Avesthagen Inc. based Bangalore with market services and based competencies in genomics, appropriate technologies to basedininSan SanDiego Diegowill willdevelop develop competencies in genomics, appropriate technologies to and proteomics, potential partners andmarket marketnutraceuticals nutraceuticalsderived derived proteomics,bioinformatics bioinformatics potential partners from medicinal plants with focus and HT cell assay AQUAS from medicinal plants with focus and HT cell assaysystems systems AQUAS on Diabetes and Obesity based in Hyderabad in partnership on Diabetes and Obesity based in Hyderabad in partnership with withICRISAT, ICRISAT,has has competencies competenciesininbiological biological Quality Qualitytesting testingservices services Our Objectives Our Solution Leverage India’s low cost-structure and access to skilled scientists as a key competitive advantage Establish an integrated biotechnology platform as a “Research Outsourcing” Station Enable the valuation of IP and therefore the company at global standards Establish subsidiaries and Joint Ventures with partners in the US and Europe enabled through project-based funding Establish close access to markets and clients in the US and EU The subsidiary / JV shares the IP on products and technologies and markets them. Un-fettered access to the capital markets in the US and EU Research is outsourced to the “Research Outsourcing” Station in Bangalore Research Process Outsourcing™ - RPO™ Transformation led by “brainware” leverage ¾ Limited access to venture capital means that R&D services and IP development must balance each other for the company to be sustainable. ¾ RPO™ is characterized by a shared “objectives” based relationship, ¾ Avesthagen participates in the firms R&D and IP development process, ¾ Avesthagen helps the firm to broaden competency and manage R&D cost through leveraging the India Advantage! Revenue Model using RPO™ High Risk / Large invested capital Cash out through highmargin products Out-licensing / Royalties Co-development of IP based on existing portfolio and market opportunities Strategic investment led R&D RPO™ - fee for service Low Risk / Small invested capital Manage exposure to risk through shared IP Partner led IP development Build competency and partnerships Our Value Proposition RPO™ Process Flow R-Audit R-Audit Services Services Process Process // Solution Solution Study Study Outsourcing Outsourcing Services Services Project Project Handling Handling Integration Integration Services Services Integration Integration Support Support ••Report Report Generation Generation ••Study Study segments segments to to outsource outsource ••Protocol Protocol development development ••Cost Cost and and quality quality benefit benefit ••Technology Technology Transfer Transfer ••Develop Develop benchmarks benchmarks ••Consumable Consumable sourcing sourcing ••Data Data integration integration and and curation curation ••Process Process and and Cost Cost optimization optimization Competencies at Avesthagen that enable the RPO™ Model Functional Genomics ¾Customized cDNA libraries ¾Whole Genome Sequencing ¾Genotyping and DNA fingerprinting ¾MAS, Marker development Population Genomics ¾Disease databases ¾Drug target discovery ¾Screening for drug response Validation of in-silico systems ¾Gene Annotation ¾Protein-Protein interaction ¾Data Curation and functional classification Biotherapeutics ¾Proteome profiling - 2D-GE, Comparative gel analysis and PMF ¾Cloning, Expression, Purification, Prep-HPLC for lab scale production of bioactive proteins ¾Pharming – Transformation for expression of therapeutics in plants ¾ Development and validation of protocols Current Partners – RPO™ Works! CSIR Stazione Zoologica Napoli ICRISAT Current Product Development Programs at Avesthagen ¾ Discovery of nutritional compounds that are effective against diabetes and obesity from Indian medicinal plants and formulations described in traditional medicine. The product development effort is supported by the International Bank for Reconstruction and Development (IBRD) program. ¾ Genetic Manipulation of Helianthus annus L. for production of Docosahexaenoic acid (DHA). In partnership CSIR labs in Goa (NIO) and Jammu (RRL) under the NMITLI program. ¾ Identification and Characterization of Aroma Genes from Basmati Rice. Nutraceutical Discovery Program Disease selection Literature & Data collection Targeted screening of Formulations for Nutritional Compounds Tribal herbal medicine, Ayurveda, Unani, Siddha Fractionation Relevant Medicinal Plants Target and Etiology identification In-vitro and Invivo models Enzymes/Signal Transducers/ Regulatory Proteins/Target and Non-Target SNP’S Multiple extractions Nutraceutical Leads Toxicity Marketed Products Clinical Validation Validation of Extraction by Bioassay Conclusion ¾ Biotech companies in the region need to have the best breed of technology, product & services and IPR strategy. www.CartoonStock.com Thank You!
