Karriärdagar Uppsala - Vad händer inom bioteknikbranschen?

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1 The Swedish Biotechnology Industry Organization Karriärdagar Uppsala - Vad händer inom bioteknikbranschen? Uppsala karriärdagar March 15th, 2006 Per-Erik Sandlund SwedenBIO Wallingatan 24 SE Stockholm Office /-02

2 SwedenBIO Table of contents 1 SwedenBIO 2 Biotechnology globally and in Sweden 3 Industrial and financial temperature 4 Biotechnology as a career option 5 My own experience from a global company

3 SwedenBIO SwedenBIO lives by a clear Mission: create world class industry condition in close collaboration with the member companies The SwedenBIO Mission SwedenBIO will create world class conditions for the Life Science industry in Sweden. This will be delivered through close collaboration with our member companies, academia and decision makers at all levels

4 SwedenBIO SwedenBIO represents the Swedish Life Science Industry Swedish Biotech Industry direct FTEs ( ) Three main regions Uppsala/Stockholm Malmö/Lund Gothenburg Strong academic centres: Linköping, Umeå World leading member companies Biotechnology: Biovitrum, Biacore,GE Medical technology: Gambro Pharmaceutical: AstraZeneca Diagnostics: Phadia SwedenBIO Founded in 2002 Improve conditions for industry Spokesperson for biotech industry Support business development Member Growth

5 SwedenBIO SwedenBIO represents a broad Swedish Life Science industry Biotechnology Tools (15 Companies) Service providers (17 Companies) Drug Discovery (32 Companies) SwedenBIO Diagnostics (8 Companies) s Affiliated comapanies (26 Companies) MedTech (11 Companies)

6 Biotechnology globally and in Sweden Top Three Swedish Biotech Clusters Around Large Universities - large majority in Stockholm-Uppsala region Gothenburg 14 percent of Swedish biotech companies Academia Göteborg University Sahlgrenska Chalmers Firm sample AstraZeneca Biovitrum Carlsson Res. Cellartis Vitrolife Nobel Biocare Lund - Malmö 15 percent of Swedish biotech companies Swedish part of Medicon Valley Academia Lund University Malmö University Firm sample Active Biotech Alligator BioInvent Cellavision Umeå Linköping Stockholm - Uppsala 54 percent of Swedish biotech companies Major players in Uppsala, Stockholm and Södertälje/Strängnäs Academia Karolinska Institute Uppsala University Stockholm University Royal Institute of Technology (KTH) SLU Firm sample AstraZeneca GE Healthcare Affibody Biacore Biovitrum Gyros Karo Bio Medivir Neuronova Orexo Phadia Diagnostics Q-Med

7 SwedenBIO Four of six priority areas have given results in 2004/5 and three more are under way SwedenBIO Agenda Ambition: 1 Establish a National Biotech Committee Strengthen the public funding for competitive biotech and medical R&D Stimulate R&D investments by directed tax incentives: Proposed: 200 msek 2007 Extend tax break from 3 to 5 years for foreign specialists and add management people Create a pre-seed fund for technical and business validation of research projects Get a biotech growth fund for co-investments at seed/start-up phase Outcome: 1. SwedenBIO will participate in Govt-Industry dialogue forum. 2. Life sciences became a priority area in the national research budget 3. SEK 200 mio program Included in the 2006 government budget bill 4. Included in the ongoing strategic discussions. Review ongoing 5. Establishment of the Innovation Bridge Fund 6. Establishment of the Innovation Bridge, VINNOVA, Nutek etc. Result -04/05 Indications -05

8 The Life Science Industry is a dynamic business! Different messages! The press; Elimination of every second Biotech company in the world is expected within the coming 10 years. We will go from approx biotech companies today to 2500 in 10 years! (Vice chairman Frederic Frank, Lehman Brothers) The survivors will be the innovations engines-best in class (same source) Biotech the hottest sector on the OMXS. Up with 39% since summer -05 to compare with the OMXS index, up with 17% same time. (DI 27th january-06) Swedish VC doubled their investment into biotech and medtech in 2005 (Ny Teknik nr 4) Boehringer Ingelheim and Biolipox sign agreement on a new class of drugs to treat pain and inflammation (webpage) Orexo to OMX O-list in November Webpage)

9 Biotechnology globally and in Sweden Sweden is nr. 4 in Europe and nr. 9 globally based on no. of companies No. of biotech companies per EU country (2001) Other countries Norway Ireland Italy Belgium Denmark Netherlands Finland Switzerland Israel Sweden France UK Germany Nordic Region Private Public RED BIOTECH FOCUS 100 drug developers 50 tool providers 20 bio-production Strong growth Employment +48% No. Companies +35% Number of biotech companies

10 Biotechnology globally and in Sweden Sweden ranks no 1 in number of companies / million inhabitants 25 Number of Biotech Companies / Million Inhabitants SE CH DK CDN FIN UK US GE FR Source: Ernst & Young, Refocus: The European Global Biotechnology Report (2004) & US CIA, The World Fact Book (2005).

11 Innovation for Growth A priority Increasing investments in innovation a European top priority! Total R&D and Business R&D investments Sweden Finland Japan US EU15 The Lisbon process has stated that innovation is a European top priority in order to create jobs and growth Member states are encouraged to take actions to support investments in R&D, in particular among small and medium-sized companies EU25 Norway Estonia Total R&D Business R&D While member states are at different starting points everyone can improve their practices 0 0,5 1 1,5 2 2,5 3 3,5 4 as % of GDP Source: Eurostat

12 Biotechnology globally and in Sweden US is the world leader in biotechnology mature industry and more funding US vs EU Biotechnology industry (2004) US Europe Revenues ($m) R&D Expense ($m) # Public Companies # Private Companies Total # Companies # of Employees Total Financing Pharmaceutical R&D expenditure in Europe, USA and Japan (at 2002 exchange rates) 30 Billion euros Avg. Financing per Company Avg. Employees per company Japan Europe USA Source: Ernst & Young. EFPIA s Pharmaceutical Industry in Figures 2004 edition

13 Biotechnology globally and in Sweden The Swedish biotech companies are focused on pharmaceutical and medicine 90% less than 100 employees Distribution of biotech companies, % of companies in each area Swedish biotech companies distributed by size Functional food and feed 5% Agrobiotechnology 5% Bioproduction 10% Environmental biotechnology 5% Pharmaceuticals and medicine 54% >=500 Large Medium % 2% 3% 5% Small % Biotech tools and supplies 21% % 0% 20% 40% 60% 80% Source: Swedish Biotechnology, Vinnova, 2003

14 Some data- Growth Yearly Growth in Revenue for Swedish companies financed by venture capital, per sector [ ] Manufacturing Real estate Retail Pharmaceuticals Electronics Other Services IT, software 6% 6% 8% 12% 13% 14% 17% 23% Health care IT, services 40% 48% Medical technology Telecom, media 76% 80% Biotechnology 121% Source: NUTEK, SVCA, Utvecklingen för riskkapitalbolagens portföljbolag , (2005)

15 Some data- level of interest Medical technology and biotechnology are seen as the most interesting sectors according to VCs in Sweden [Q3 2005] Pharmaceuticals Electronics Health care IT, services Financial services Retail Communication, other IT, technology Industrial products/services Energy IT, software 10% 13% 15% 16% 18% 19% 21% 24% 24% 25% 28% Biotechnology 37% Medical technology 48% Source: NUTEK, Riskkapitalbolagens aktiviteter Tredje kvartalet 2005 (2005)

16 Industrial and Financial Temperature Swedish Biotech Industry an attractive partner - delivering major collaboration deals Selected examples Feb 2004: Index Pharmaceuticals deal with Serono on Kappaproct. June 2004: Active Biotech outlicense its lead compound SAIK- MS to TEVA Q3 2004: Orexo signs deal with Endo Pharmaceuticals on Raptinyl Nov 2004: Medivir signs deal with J&J s subsidiary Tibotec on hepatitis C treatment Dec 2004: NeoPharma active in Parkinson area completes 100 MUSD trade sale to Solvay Pharma Jan 2005: KaroBio prolongs its Merck collaboration entering the clinical trial phase Feb 2005: Carlsson Research signs collaboration agreement with Fujisawa for ACR 16 Apr 2005: Biovitrum acquires UK company Cambridge Biotechnology Ltd Aug 2005: Karo Bio extends Wyeth collaboration on atherosclerosis project Aug 2005: Biovitrum acquires Swedish company Arexis Nov 2005: Biolipox and Boehringer-Ingelheim close a major deal in pain and inflammation Nov 2005: Diamyd acquires US company Nurel Therapeutics Jan 2006: Biovitrum and Syntonix Pharmaceuticals agreement on recombinant IX factor for hemophilia Feb 2006: Biovitrum and Amgen expand collaboration agreement on 11β HSD1 enzyme inhibitors March 2006: Active Biotech and Avidex conclude Ph I clinical trials for RhuDex

17 Industrial and Financial Temperature Financing is a fundamental challenge to build value in life science. The innovation chain includes pre-commercial and commercial financing Innovation and Financing Chain Value / SEK Pre-commercial financing /Government Commercial financing / Private Expansion Mio SEK Start-Up Mio SEK Seed 1-10 Mio SEK Pre-Seed Mio SEK Source: Adopted from; Bättre finansiering för kommersialisering av innovationer, Näringsdepartementet, 2004 Time

18 Industrial and Financial Temperature A fundamental challenge is to attract new financing and to secure optimal conditions in all development phases Value Pre-commercial /Government Pre-Seed 0.1-1Mio SEK Innovation and Financing Chain Seed 1-10 Mio SEK Commercial / Private Start-Up Mio SEK Expansion Mio SEK Time Challenges: How attract more financing to the system to support company creation and development? Lack of pre-seed and seed financing How secure smooth transitions? Long development time High risk / High profit Often binary outcome

19 Industrial and Financial Temperature Life science companies access to venture capital has improved over the last years % of answers 100% 90% 80% How difficult was/is it/will it be to attract venture capital? Not possible Tough Possible/Easy 70% 60% 50% 40% 30% 20% 10% 0% 2002* Source: SwedenBIO Financial Survey, September 2005 * In the survey of 2003, companies were asked for the situation one year earlier

20 Career Swedish life science companies see high growth in revenue and number of employees over the next three years MSEK and no of employees Where do you see your company in three years time? Today In three years time Average Revenue Average no of empl. Source: SwedenBIO Financial Survey, September Note: Companies that gave incomplete answers have been excluded, n=28 and 32

21 Career The Swedish biotech and pharma industry has grown with +10% per year during period Do we have a future? Kommentarer-Fakta Kommentarer-Fakta Antalet direkt anställda inom läkemedel,bioteknik samt medicinteknik har ökat till ca Med rådgivare, underleverantörer mm är närmare svenskar aktiva inom bioteknik/livsvetenskap industrin Den årliga tillväxten i antal anställda är knappt cirka 10 procent Antalet anställda i industrin har fördubblats i snitt var tionde år Samtidigt utexamineras från forskarutbildningen årligen ca 300 från Bioteknik linjen och ca 150 kemister! Klarar industrin detta? Vilken kompetens krävs i framtiden? Brutto exporten för branschen beräknas till ca 70 miljarder årligen Enbart AstraZeneca exporterar för ca 40 miljarder 2004 (16% av den totala svenska netto exporten) Den svenska bruttoexporten av trä, papper och massa var 2004 ca 100 miljarder Källa: Statistiska Centralbyrån, SwedenBIO analys feb-04

22 Summary Good, but what s in it for me? Sweden has the potential to keep and expand a leading life science industry We now have a national strategy for the sector supported by the government and the industry Positive outlook: The financial situation has improved the past years The science base has progressed maturing pipeline We see some Swedish biotech s acquire for growth Positive stock market But we wait to see the big deal to come through A Skype deal, creating the Swedish equivalent to Genentech or Amgen. Life science offer exciting and high quality jobs competence counts!

23 My own experience-14 years in executive positions for Pharmacia Biotech, Amersham Biosciences and GE Healthcare I ve six basic advises; 1. Make sure that you finish your basic education asap. Don t hang around! 2. If you continue your academic career, make sure you do it at a top ranked institute (Sweden is no limitation) and mentored by a professor who has excellent connections with the industry and top scientists in the world. 3. If not, go directly to the industry. But before that, or in parallel, make sure you add basic finance and international marketing to your education. 4. In the beginning, be pragmatic, take what is offered. The importance is that you get started and build network. Be visible, positive and open for change! 5. Get international experience, go abroad. The industry is global! 6. Decide quickly, do I want to become a specialist or a generalist. This is important and will point out your professional future.

24 Thanks and Good Luck!

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