Selling an Idea. Dr. Mark McHale Chief Opera7ng Officer ASLAN Pharmaceu7cals Singapore

Transcription

1 Selling an Idea Dr. Mark McHale Chief Opera7ng Officer ASLAN Pharmaceu7cals Singapore

2 Seminar Format XXXX

3 Know Your Stuff The Beetles Andy Murray Sun Tzu Read everything in your field Keep up to date Be dedicated and train hard Be a professional not an amateur Lord Nelson Invest in your 10,000 hours

4 Self Belief Quell your inner nega7ve voice Think posi7ve thoughts about yourself Tell yourself that you are lucky to have this opportunity so don t waste it Take 7me to enjoy the moment in major mee7ngs If you don t believe in what you are doing nobody else will

5 Don t Let People Hold You Back If you intend to change the world people will always tell you why you can t People are driven by maintaining status quo What you intend to do may well mean big change for other individuals Be aware that your ac7ons could trigger nega7ve emo7ons such as fear, anger, jealousy and resentment

6 Push Against The Status Quo- Change! Make construc7ve change part of your phenotype Be careful not to change for the sake of change If you implement change always finish the change process

7 Work With Like Minded Individuals Steve Jobs Bad Choice Herb Boyer Steve Wozniac Crick & Watson Robert Swanson What about Rosalind Franklin? Pick the founding team carefully or you ll never sell any idea Investors are largely puqng money behind the founding team The team must be comfortable challenging each other The team must be totally behind the company

8 Always Be Honest If you don t know the answer to a ques7on just say so Don t try to blag your way out If you don t know an answer always go and find out If an investor can t trust your answers they will not invest

9 Believe In What You Are Doing & The Product Investors are very sensi7ve to your belief in what you are selling ~80% of you the message that you impart is in your body language Be passionate about your idea

10 Understand Your Audience Tailor the level of detail to help your audience understand Tell the story and don t use big words to appear clever 80% of the sell is body language, 15% tone, 5% actual words Einstein said If you can t explain what you are doing to a 6yrs old you don t understand it yourself

11 Establish a Track Record Neil Armstrong Genghis- Khan Establish a track record of success Be known for excellence in your area Even if this is your first venture you will have many examples of success buried in your CV

12 THE ASLAN PHARMACEUTICALS EXPERIENCE

13 Cost of the Drug Discovery Process DRUG DEVELOPMENT PROCESS Big Pharma Drugs Approved R&D Cost per Drug (MUSD) Cost R&D (MUSD) AZ 5 11, ,955 GSK 10 8, ,708 Sanofi 8 7, ,274 Roche 11 7, ,841 Pfizer 14 7, ,178 J&J 15 5, ,285 Eli Lilly 11 4, ,347 Abbott 8 4, ,970 Merck 16 4, ,360 BMS 11 4, ,675 Novartis 21 3, ,646 Amgen 9 3, ,229 Sources:! InnoThink Center For Research In Biomedical Innova7on; Thomson Reuters Fundamentals via FactSet Research Systems 13 Cost of drug development is very high with long development 7mes Approved drugs are precious and lucra7ve IP defence of new drugs and marketed drugs is very fierce

14 ASLAN creates value by taking experimental drugs and progressing them through clinical development A WAY FORWARDS Value of drug Value Crea7on Discovery Preclinical Phase 1 Phase 2 Drug ready for final stage trials and commercialisa7on 14

15 Concept Behind ASLAN Pharma NEW CONCEPT IN DRUG DEVELOPMENT Preclinical and phase 1 drugs acquired from global pharma ASLAN conducts phase 1 and 2 in Asia Sale of commercialisa7on rights in US / EU ASLAN retains rights for Asia Form a small (10-20 people) company based in Singapore License 5-6 drugs from global pharma / large biotech with no upfront payments ASLAN will conduct clinical development in Asia to deliver proof- of- concept and enable global phase 3 using its own cash Sell phase 2 posi7ve compounds to big pharma or sell back to the originator for global phase 3 development/ commercialisa7on 15

16 ASLAN Senior Management Team OUR COMPANY Dr Carl Firth CEO Dr Alan Barge CMO Dr Mark McHale CSO Jeff Tomlinson CBO Formerly Head of Asia Healthcare Investment Banking, Merrill Lynch 10 years in pharmaceu7cal industry, including roles in Asia and China leading new product development Former VP Clinical & Head Oncology / Infec7on at AstraZeneca, responsible for execu7ng AstraZeneca s global oncology pornolio Over 20 years senior clinical leadership Former Head of Molecular Sciences at AstraZeneca Respiratory & Inflamma7on Over 20 years pharmaceu7cal R&D and leadership 12 years senior Business Development and IP experience at North American biotech companies and VC 10 years pharmaceu7cals R&D 16

17 3 compounds in clinical development, targe]ng a por^olio of 5-6 clinical stage projects OUR COMPANY ASLAN has in- licensed 4 clinical stage compounds from Array Biopharma, Bristol Myers Squib, Almirall Pharmaceu7cals and CSL Get the right drug in the right pa7ents at the right 7me in their disease Mul7ple shots on goal ASLAN001 ONCLOLGY PHASE 2B ASLAN002 ONCOLOGY PHASE 2A ASLAN003 RHEUMATOID ARTHRITIS PHASE 1B ASLAN004 ASTHMA Preclinical ASLAN ASLAN006

18 Responses to the Concept of ASLAN Early 2010 Posi]ve Great idea come and see me again when you prove that it works Great idea wish I was doing that Pharma need to change towards the ASLAN model. The meteor is closing in but they just haven t looked up yet Don t tell too many people about this or we can t jus]fy our huge infrastructure Model makes good sense to reduce the cost base of development and de- risk early development for pharm We want to move more into Asia and have compounds that you should look at Nega]ve You cannot run drug development with people This will never work in Asia You cannot develop drugs in Asia for global launch This type of thing is OK for some big pharma but not for us Your career will be ruined, come and work for me instead Are you crazy?

19 ASLAN financial strategy FINANCING Founding Apr 10 Company founded in Singapore Seed Jun 10 $2.4M Series A Apr 11 Capital raised provides $12M for ini7al compounds Led by BioVeda Capital (Singapore) Series B Oct MUSD led by Cenova Shanghai 19

20 Securing Investment: Personal Perspec]ve Seasoned investors are very smart people You will have to sell the concept of your company many 7mes Exude passion for the product in all mee7ngs and interac7ons but many early investment mee7ngs will be fruitless Remember that the investors are funding both the team & pornolio Work hard at the rela7onships with your in- licensing partners Be available 24/7 for mee7ngs wherever you are in the world Only generate high quality data Consider all these points when selling your idea!

21 Final Message There is no passion to be found playing small in segling for a life that is less than the one you are capable of living - Nelson Mandela

22 Dr Mark McHale Chief Opera7ng Officer ASLAN Pharmaceu7cals