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Innovation that Fits

HBS Health Industry Alumni Association Online Roundtable June 1, 2005. Innovation that Fits. Innovation That Fits - Panelists. Jeff Wager, M.D., M.B.A Managing Director of CPP Advisors LLC, a boutique life science investment bank Practice in life science corporate spin-outs

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Innovation that Fits

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  1. HBS Health Industry Alumni Association Online Roundtable June 1, 2005 Innovation that Fits

  2. Innovation That Fits - Panelists • Jeff Wager, M.D., M.B.A • Managing Director of CPP Advisors LLC, a boutique life science investment bank • Practice in life science corporate spin-outs • Don deBethizy, Ph.D. • President and CEO of Targacept, Inc., a leading central nervous system disease-focused biopharmaceutical company • Leading example of successful life science spin-out • Michael Lord, Ph.D. • Professor of strategy and international business at Wake Forest University • Co-Authors of Innovation that Fits : Moving Beyond the Fads to Choose the RIGHT Innovation Strategy for Your Business (2005) • Includes results of systematic study of over 250 corporate innovation initiatives from 1995 to 2000 that relied on 6 major new models of innovation

  3. The Old (Obsolete?) Model The Core Firm Concept  Research  Development  Commercialization Seeking New Innovation Solutions (1)

  4. The Proposed New Models: Innovation Alternatives? Corporate Venturing Skunkworks Incubators New Ventures Corporate Venture Capital ‘Spinnovation’ Spinouts Spin-ins The Core Firm Concept? Research? Development? Commercialization? Innovation -by- Acquisition R&D by M&A Later-Stage Deals ‘Asset-lite’ Innovation Intellectual Property Out-licensing In-licensing Innovation-by-Alliance Joint Ventures Consortia Open (Network) Alliances Seeking New Innovation Solutions (2)

  5. Themes • What is behind the more difficult innovation environment in the life sciences today? • Why is the old model of innovation in trouble? What will take the place of the traditional integrated pharmaceutical company? • What have we learned from the ‘innovation frenzy’ of 1995-2000 and the aftermath in the economy in general and in the health industries in particular? • What are the best innovation models for the health industry now? • How do you fit an innovation model to a specific business situation? How do you make sense of the alternative strategies?

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