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Financing biotechnology innovation in BrazilFinancing biotechnology innovation in Brazil

Eduardo Emrich SoaresEduardo Emrich Soares

CEO & PresidentCEO & President

Buenos Aires, September 25, 2006Buenos Aires, September 25, 2006

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Company Life Cycle

Time

Cash flow

Sales

Risk

Company Value

+

_

_

+

Founders “Angels”

Venture Capital

Private Equity

IPO

Start-up Expansion MaturitySeed

R&D Public

Seed capital

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Public funding for biotechnology in Brazil

Historically only for research projects at universities and research centers

Recently, new funding mechanisms to cooperations programs between universities and technology based companies:• INOVAR Program to promote new venture capital funds

• Grants from PIPE (Sao Paulo State) and PAPPE (national) to innovative projects

• Funding to specific areas, technologies or products of the Industrial, Tehcnological and Foreign Trade Policy (PITCE)

The Technology Innovation Law• Promote partnership arrangements to new products and processes

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Results of the Public policy

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Nature Biotechnology 2004

Results of the Public policy

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Private funding for biotechnology in Brazil

Seed capital: new INOVAR program – funds under selection Venture Capital established in the last 3

years (INOVAR Program)

Partnership with pharmaceutical companies

starting nowadays

IPO not a reality by now

R&D projects in cooperation

Product development companies

Success case of funding a biotech company in Brazil

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Biominas Foundation [ who we are ]

What is it?

Non-profit private institution.

When and by whom was founded?

In 1990, by a group of biotech companies in Belo Horizonte/MG.

What is our main objective?

To support the creation of successfull biobusinesses in Brazil, thereby strengthening the biotech sector.

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Biominas Foundation [ what we do ]

New Ventures Creation and Development

Members of the Biominas Foundation team assist researchers and entrepreneurs in evaluating, planning and executing new business ideas.

Business Incubation

Infrastructure, technical and administrative services that support start-up companies.

Seed Capital

The Biominas Foundation makes seed capital investments in start-up companies and helps them raise capital from other sources including government grants and venture capital firms.

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Biominas Foundation [ location ]

Rio de JaneiroSão Paulo

Brasília

Belo Horizonte

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Incubated companies

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Investments

Technical cooperation BID e FUMINTechnology Transfer Program – PTTSeed money: US$ 3.250.000

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BioDiversa BioDiversa Brasil*Brasil*

* new project in creation

DiscoveryPre-

ClinicalPhase I Phase II Phase III Approval Launch

Alvos acelerates the development of bioproducts

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Building Biobusinesses

Thank you.