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“Funding Early Stage Biotechnology”

“Funding Early Stage Biotechnology”. Personal Reflections of a European Investor based in the UK and France EBAN – 9 th Annual Congress – Madrid Alan Barrell, A Cambridge Angel and a Sophia Business Angel 27 th April 2009.

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“Funding Early Stage Biotechnology”

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  1. “Funding Early Stage Biotechnology” Personal Reflections of a European Investor based in the UK and France EBAN – 9th Annual Congress – Madrid Alan Barrell, A Cambridge Angel and a Sophia Business Angel 27th April 2009

  2. Funding Bioscience demands exceptional talents, imagination and resolute perseverance “You look at things and ask - why? but I dream of things that never were and ask - why not?” George Bernard Shaw

  3. Charles Darwin – “Natural Selection Adaptability and Survival” Darwin’s Bicentenary this year. A “Naturalist Entrepreneur”- Messages for Biotechnology Entrepreneurs….

  4. Darwin’s Theories -Natural Selection, Adaptation, Symbiosis and Synergy Can be true for Companies and Business Models – especially in Bioscience What works for meat ants and leaf hoppers

  5. How the Early Stage Investment Market sources and funds successful Biotechnology Companies • NOT very effectively !......... • With great difficulty….. • No great track record….. • Leaving lots of room for improvement ! • Three Cheers for President Sarkosy and French Wealth Tax changes…..a silver lining in the clouds!

  6. And Biotech IS Different…. • Speciality – Complexity – Diversity • Long gestation periods means…. • Very patientcapital • Long time to market • High costs ofR & D and Clinical Trials • High RISK profile • High and specialised skills requirement

  7. Advice and Personal Opinions • Don’t be phased by the current Financial Crisis – it’s nothing new…. • “It was the best of times – it was the worst of times” – Charles Dickens – A Tale of Two Cities - 1859 • Have you really got something special?..... • Be organised and have a clear Business Model and Plan • Learn from past mistakes and failures • Think seriously about Strategic Partnerships with larger players – early if possible and safe

  8. The Early Stage Business Balance – what do investors look for? In ANY innovative company ? – including Biotech– Entrepreneurs take note…. Inspired Leadership Management Creativity Enthusiasm Research & Analysis Process Bullshit Market Knowledge Courage Caution Vision Optimism Financial Control And they like to see experienced - Biotech. Smart Chairman and Directors - Mentors for Innovative Companies

  9. More Advice and Personal Opinions • Understand the complete $$$$ requirement to exit….and the available $$$$ supply chain • Work with early stage funders connected with the later stage funds • Take Darwin’s work to heart – Strategic Partners on board early make a difference- Symbiosis is a Biotech Characteristic • If at first you don’t succeed…..try, try, and try again…. • Network, Network, Network, Network, Network – the network again !......

  10. Thank you for your attention…. More on my website – www.alanbarrell.com E-mail – alan@alanbarrell.com

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