mbis presentation university
DESCRIPTION
MassCONNECT program benefits academic medical centers and universitiesTRANSCRIPT
MassCONNECT
Leveraging industry networks to
advance translational research
The goal of translational medicine…
Bench
Late-preclinical&
Preclinical dev
Clinical development
Clinical trials
BedsideIndustryIndustry
AMC/UnivAMC/Univ
10
20
30
40
50 60
40
30
20
10
1995 2000 2005
50
NM
Es
and
Bio
log
ics
Ap
pro
ved R
&D
Sp
end
ing
(US
$ Billio
ns)
R&D expenditures
Approvals
Sources: FDA/CDER, PhRMA, PricewaterhouseCoopers
Note: R&D spending from non-PhRMA companies not available
Pharma’s predicament
Courtesy of Ted Torphy, JNJ presented at Massbio Pharma Days
Translating research to products
Valu
e $
Valu
e $
Invention = data, tools, IP, Know-HowInvention = data, tools, IP, Know-How
RO1 funding enabled researchRO1 funding enabled research
Phase II-Proof of concept
Proof of principle
FIM
Animal disease model
Translation gap
“Applied” research
Basic research
Research progress
But the goal is impeded by translation gap!
Translation GapInability to effectively convert accomplishments achieved in the academic labs to the parlance of early stage pipeline opportunity
Poor networks of expertise, funding, and industry leadership
impedes transfer of value between academia and biotech/pharma
Translation GapInability to effectively convert accomplishments achieved in the academic labs to the parlance of early stage pipeline opportunity
Poor networks of expertise, funding, and industry leadership
impedes transfer of value between academia and biotech/pharma
Discovery work
Industrialization
Commercial-ization
MassCONNECT
Value $Value $
Time
Leveraging the industry accelerates the right opportunities
– Build a cross-disciplinary group of advisors and mentors
• provide tutoring and advice to diminish obstacles which derail promising early-stage technology prior to commercialization
– Rapidly screen technology to identify the most promising candidates
– Connect proven industry navigators & advisors
What’s in it for you…power of distributive tasking
• Using seasoned industry professionals to sift through and prioritize opportunities of value
• Helps you prioritize opportunities with greatest likelihood of success
• Capitalize on the industry network to target the parties most interested in licensing
•Increase the throughput of technology out of your office
Distributive tasking from industry professionals allows more opportunities to be examined, sorted and prioritized
Technology Scouting Innovator Services
Accelerating the right opportunities Accelerating the right opportunities
Products and Startups++ ==
Sources of Innovation
MassCONNECTMassCONNECT
Products & Startups
Partnerships with Industry
•Technology identification
•Investigator relationships
•Technology aggregation
•Technology identification
•Investigator relationships
•Technology aggregation
•Proof-of-concept development
•Bridging the valley of death
•Disciplined due diligence
•Turn science into products
•Proof-of-concept development
•Bridging the valley of death
•Disciplined due diligence
•Turn science into products
Commercially viable products to…
•Fill bio/pharma pipelines
•Conduct clinical trials
•Catalyze startups
Commercially viable products to…
•Fill bio/pharma pipelines
•Conduct clinical trials
•Catalyze startups
•Mentorship/Networking
•EIR program
•Workshops/training
•Sector experts
•Due diligence
•Grants/matching funds
•Mentorship/Networking
•EIR program
•Workshops/training
•Sector experts
•Due diligence
•Grants/matching funds
Ideal investigator profile for MassCONNECT
Entrepreneurial
Visionary
Collaborative
“Next gen”
Exciting ideas
Lacking industry relationships
Entrepreneurial
Visionary
Collaborative
“Next gen”
Exciting ideas
Lacking industry relationships
“Quick and dirty” guide to attracting investors
• Technical POC that is differentiated – In-vivo data (animal model)
• Have the animal model's data been repeated?
• Patents are available for exclusive licenses • Publication in a peer reviewed technology journal
– Publications in strong journals • ideal but not necessary
• Ability for platform development--->multiple targest (Dx or Thx) – If not..., then:
• option 1: more likely to outlicense to big pharma or biotech • option 2: get grant $ to show platform POC for 2nd target
• Validation from Industry experts regarding: – promise/importance of technology
• supported by diligence with KOL
• Who could eat your lunch– Evaluate 2-3 competing technologies, and provide an answer as to why yours is different– Reasons to believe viability
“Quick and dirty” guide to attract pharma
Secret Sauce to attracting pharma?
Anything that pulls risk forward!-Molecules (Thx/Dx)-Validated
- Tools- Biomarkers!- Mice, cell based assays- Abs, model molecules- Predictive disease models
Accelerating proof-of-concept to partnerships
Validated
ClearMarket
Potential
Ready toCommer-
cialize
Early-stage
UnclearMarket
Potential
I ncompleteTechnologyValidation
…commercially valuable university discoveries
the markets to which the discoveries apply
Commercialization GapCommercialization Gap““The Valley of DeathThe Valley of Death””
and
MassCONNECT Value Proposition
Demystify the translation gap– Reveal where the gaps are and how to fill them
• Proof-of-concept studies• Understand market (patient) needs• Hurdles to commercialization de-risking opportunities
Create high value linkage to industry– Bio/pharma networks– VC and other funding networks
Accelerate a value stream for your technology– Better licenses– Potential start-up
MassCONNECT delivers to you
presentationpresentation Non-profitNon-profit
VCVC
Development CorpDevelopment Corp
Corp LicCorp Lic
Return to AcademiaReturn to Academia
1-2x1-2xImproveImprove
Evaluation of business proposal
Business advisors work with investigators to coach
Concise business plan developed (by MBAs)
Office Hours•VCs- real time feedback•MassBio – BD&L
Creation of industry network
Introduction to funding network
In hand:•Refined business pitch deck•Understanding of business model•Strategy and operations delineated•Mentor network resource
Screening of technology • Industry feedback on strengths, weaknesses, opportunity, threats
Free participation in MassBio Programs•Entrepreneur’s University•BD Committee Meetings•Finance Committee Meetings
One-to-one consultation with industry expert
SubmissionSubmission
EvaluationEvaluation RefinementRefinement OutputOutput
Pharma DaysBuilding productive partnerships
Industry sourcing strategy revealed
One-on-one partnering with heads of business development at major bio/pharma
Intimate and unhurried exchange Intimate and unhurried exchange
of information.of information. Obviate the frenzy and “noise”
of other major partnering
conferences
A one to two day unique partnering event. Visibility + Accessability = Possibility
Best of all, Pharma Days is right here in Cambridge! No need to travel, take time out of your offices, or waste time trying to find a time to meet.
MassCONNECT
MassBio Innovation Exchange
Pharma Days
Investors Forum
Innovators’ Roundtable
MassBio Innovation Exchange
Web 2.0 open innovation platform
connects solutions to problems
Couples technology and the networking power of MassBio
Tailors technology disclosures to industry “spec”
Communication channel for accessed technology
Web 2.0 open innovation platform
connects solutions to problems
Couples technology and the networking power of MassBio
Tailors technology disclosures to industry “spec”
Communication channel for accessed technology
You are cordially invited to apply for participation in MassCONNECT.
http://www.massbio.org/membership/massconnect
Deadline April 16th, 2010
Have questions? Contact Imran Nasrullah, Chief Business Officer at MassBio, at 617-674-5151.
You are cordially invited to apply for participation in MassCONNECT.
http://www.massbio.org/membership/massconnect
Deadline April 16th, 2010
Have questions? Contact Imran Nasrullah, Chief Business Officer at MassBio, at 617-674-5151.
Back up slides
Sustaining growth – Wall Street’s
• Consider Lipitor, in mid year 2008, its global sales were $12B
•Next year’s return needs to be $1.2B• A new product needs to bring in $1.2B to keep EPS up!
Generally, limited resources hampers your effectiveness
Limted budgets
Staff:Disclosure ratio is small
Investigator
pressure
Limited resources for due diligence
Sifting for valuable disclosures
Opportunities
Disclosed Opportunities
•Limited throughput
•Lower value licenses
•Longer negotiation times
Innovators RoundtablesSolutions-based dialogue with leaders in industry and
stakeholders
Exclusive roundtable discussions with leading academicians, CEOs, R&D heads, angel investors, venture capitalists.
The objective: define a set of initiatives, where participants can, directly or through influence, bring the necessary funding to bear to assure that those early stage innovations with the highest potential continue to the clinic, enrich pipelines and improve options for patients.
To devise better collaborative models to expedite translational
therapeutics.
MassCONNECT
MassBio Innovation Exchange
Pharma Days
Investor Forum
Innovators’ Roundtable
MassCONNECT Process
presentationpresentation Non-profitNon-profit
VCVC
Development CorpDevelopment Corp
Corp LicCorp Lic
Return to AcademiaReturn to Academia
1-2x1-2xImproveImprove
Business advisory services
MassBio Programs
Office Hours•VCs•MassBio – BD&L
One-to-one consultation
Network of funding sources:•VCs•Drug development•Business plan competition
One-to-one consultation
MassBio Programs
•Entrepreneur’s University•BD Committee Meetings•Finance Committee Meetings
Education Foundation Courses
SubmissionSubmission
EvaluationEvaluation RefinementRefinement OutputOutput