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Providing Capital, Expertise and Experience to Starters in the Life Sciences

BioGeneration Ventures. Providing Capital, Expertise and Experience to Starters in the Life Sciences Venturing and Growth Seminar June 24th 2008. BioGeneration Ventures. Dutch early stage Life Sciences Venture Capital fund Created to fill the “equity gap” by providing

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Providing Capital, Expertise and Experience to Starters in the Life Sciences

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  1. BioGeneration Ventures Providing Capital, Expertise and Experience to Starters in the Life Sciences Venturing and Growth Seminar June 24th 2008

  2. BioGeneration Ventures • Dutch early stage Life Sciences Venture Capital fund • Created to fill the “equity gap” by providing • Financing between 100 k€ and 2.5 M€ • “Hands on” support to portfolio companies • Started operating Early 2007 • Investors include: ABN-AMRO, Genomics Initiative (NGI), Leiden University Holding • Joint operations with Forbion Capital Partners

  3. Introduction • 10 investment professionals • Experienced in sourcing, identifying and assessing early stage opportunities • Ability to generate value in start-ups • Proven track record; Management Incubation Seed Series A Tech Transfer Entrepreneur Series A

  4. Netherlands Hub for Flourishing Life Sciences Sector • Life Sciences in Netherlands an excellent investment opportunity • 8 leading academic centers • Tech-transfer professionalism and patenting awareness • Valorization now a top priority and leading to an increasing number of spin-offs • “Equity gap” is more than a lack of Euro’s • Lack of professional investors willing to provide initial funding • Excellent scientific ideas with immature teams and business plans • Need for relevant knowledge and willingness to do hands-on investing • Centralized organization and collaboration key to success • Potential to become leading “Life Science Cluster” in Europe • Critical mass to be generated the coming years • Business parks, incubators, TTO’s and (seed) funding important

  5. Starting a company and Scientific stature

  6. Key problems for academic start-ups in Life Sciences • How to create a company and become an entrepreneur • Technology transfer • Knowledge of patenting • License deals with University : milestones & royalties should reflect fair share • Funding • Attracting initial funding: “Equity Gap” • Preparation of business plan • Risk / reward early stage • Management • Product development expertise • Business development • How to find and negotiate with VC’s for follow-on rounds

  7. What is the value of your invention? The real way these tech companies are valued is determined by comparables and on an arm’s length negotiation (Steven Burill, Burill & Company)

  8. Risks associated with the development process

  9. Risk adjusted rNPV calculations Nature biotechnology

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