Strategic & Commercial Due Diligence

Transcription

1 Bionest Capabilities Page 1

2 1. Bionest Partners General Overview Page 2 2 2

3 Bionest is a Global Consulting Firm with Experienced Management Team Catharine Staughton Founder London Munich San Diego Mary Koto Founder New York Bob Easton Co-Chairman Olivier Lesueur Managing Director Paris Alain Gilbert Co-Chairman Anne-Sophie Demange Manager Kerstin Waterloh Senior Adviser China Strategic Partner Tokyo Yasuhiro Komatsu Senior Adviser Rachel Laing Manager South America Strategic Partner Bionest Professional Staff Majority of team have a Ph.D. and / or MBA degree Page 3

4 Focused Exclusively on Life Sciences Pharmaceuticals BioPharma Diagnostics TEAM EXPERTISE Vaccines Medical Devices OTC Animal Health Labs / Contract Manufacturing Healthcare Services Over the Past 10 Years Page 4

5 Bionest is Uniquely Positioned Buy / Sell Side Clients What makes us unique to our clients? 80% Independant Not linked to downstream M&A or financing Broad Network Repeat business Guaranteed objectivity Leverage global key expert network: - Medical opinion leaders - Industry experts (i.e., R&D, Commercial, Access) - Regulatory experts - Other experts including IP and manufacturing / supply chain Responsive and Dedicated Understand key business issues / challenges buy / sell side Quick and efficient turnaround time Personal relationship: always staff the A Team Bring healthcare expertise to enhance financial evaluation World-class topline revenue ecasting Gold standard valuation methodology healthcare industry Page 5 Strategy and Finance

6 2. Specific Expertise in Due Diligence Page 6 6 6

7 Overview of Due Diligence Approach and Critical Components REVENUE (MARKET SHARE, PRICE, ACCESS, UPSIDE/DOWNSIDE POTENTIAL) Markets and Segments Competition Differentiation / Positioning Pricing Strategy INVESTMENTS Research and Development Sales and Marketing Manufacturing / Supply Chain Taxes RISK AND IDENTIFICATION OF RED FLAGS Technical / Clinical Regulatory Commercial Access / Reimbursement VALUATION AND EXIT Discounted Cash Flow Decision Tree Analysis Comparable Analysis Upside and Exit Strategy MANAGEMENT AND ORGANIZATION ROLES, REQUIREMENTS AND GAPS One-on-one Interviews Reference Checking Page 7 Benchmarking

8 Track Record: Strategic Due Diligence Due Diligence Cases EUSA Pharma Merck Generics EUSA Pharma launched a sale process of the company after US approval of "Asparaginase, its main asset Bionest conducted a strategic opportunity assessment and developed a WW ecast Bionest characterized risks, uncertainty and critical success factors Bionest permed full valuation buy side client Merck KGaA desired to divest its generics unit to pay down debt and focus on branded drugs Bionest permed an in-depth assessment of the portfolio and specific markets / countries Bionest developed top-line revenue ecast, margins analysis and valuation Bionest provided independent valuation to guide bidding process to buy side client Jazz pharmaceutical won the auction $ 650 MM Mylan Labs won the auction $ 6.6 B Other Relevant Case Studies 13 tail products from For Undisclosed Page 8

9 Track Record: Asset / to Support Deal Making EYEGATE Assignment Overview EyeGate Pharma is a privately-held, venture-backed specialty pharmaceutical company focused on new approaches eye diseases Ophthalmology Independent valuation of the Company to raise $12m in order to finance the Phase III of EGP-437, EyeGate s core asset, in dry eye Other Relevant Case Studies Confidential Type I Diabetes Cardiometabolic Anti-infectious Oncology Oncology Niche Products Oncology Distribution Asset Valuation Asset Valuation Asset Valuation Asset Valuation Melyatis Adenobio Confidential Confidential Pleiotherapy Drug Delivery Cardiovascular Anti-Infectious Ginkor Fort Animal Health Drug Delivery Cardiometabolic Asset Valuation Asset Valuation Page 9

10 3. Team Biographies Page

11 Co-Chairmen Alain J. Gilbert Co-Chairman - Paris & New York Bee co-founding Bionest in 2003, Alain J. Gilbert was European Founding President of Biogen Inc. (BGEN), where he was responsible the launch of Avonex, a biotech breakthrough treatment MS. He held several positions at the senior management level such as European founder of IDEXX Labs Inc. (IDXX), involved in veterinary diagnostic, water and food contaminant testing products, and President of Medtronic Europe, world leader in cardiovascular devices (pacemakers, valves, etc.). Alain J. Gilbert started his career in sales and marketing at Abbott's Diagnostic Division and remained there 17 years, holding key executive positions in the US and in Europe. At Bionest, Alain J. Gilbert is mostly involved in Biopharmaceutical, Animal Health, Product Launch, Clinical Development strategy and Private Equity, all with a primary focus on the US. Bob J. Easton Co-Chairman - New York For over 25 years, Bob Easton has been recognized as a leader in healthcare business consulting. He has built and led two top firms, beginning with the founding of The Wilkerson Group in He has led scores of market development and strategic advisory assignments clients, including large and specialty pharmaceutical companies, early-stage through publicly traded biopharmaceutical companies, and diagnostics businesses. He has influenced the decision-making of numerous healthcare professionals and supported hundreds of client executives in Australia, Japan, Canada, U.S., Europe, and Israel. His interest in healthcare began when he managed a medical diagnostics business Union Carbide. Over a long career, Bob Easton has been highly visible in the industry, having written and spoken about multiple industry issues in scores of venues. He is Chairman-Elect of the New York Biotechnology Association (NYBA), after having served as Director. He has served on eight medical company Boards including Apex Bioventures, CollaGenex, and Cepheid. Bob Easton holds two degrees in Chemical Engineering from Rice University and an MBA from the Harvard Business School. Page 11

12 Managing Director / Founders Olivier Lesueur Managing Director New York & Paris Olivier joined Bionest in 2004 and moved to the New York office in 2008 to develop US operations. He gained significant experience in strategic planning (franchise and product), commercialization strategy (US and ex-us), portfolio management and strategic due diligence. Bee Bionest, Olivier was a consultant at Celerant Consulting. Olivier has an MS in Management from EM-Lyon Business School and an MS in Molecular Biology from Polytech Clermont-Ferrand. Mary Koto, Ph.D. Founder San Diego Mary has more than 25 years of healthcare experience in both operating companies and in consulting. Prior to joining Bionest, she was a founding partner at Scisive Consulting where she worked on strategy assignments in a broad range of therapeutic areas. Prior to that, she worked +17 years in marketing and strategic planning in pharmaceutical and medical device companies including Agouron Pharmaceuticals and Gensia Sicor, launching products in hospitals and physician offices. Mary has a Ph.D. from Yale University and an MBA from Stand. Catharine Staughton Founder London Catharine s consulting career began at The Wilkerson Group (later part of IBM Consulting) in 1993 and she has led numerous strategy and marketing projects clients across the globe. Bee then she worked in business development in the pharmaceutical industry and as a financial analyst ecasting new product sales. Catharine has substantial project experience in a wide range of medical products and has worked in diagnostic and surgical equipment as well as prescription and OTC pharmaceutical products. Catharine graduated in Natural Sciences (Genetics) from the University of Cambridge and has an MBA from INSEAD in France. She speaks excellent French. Page 12

13 Managers Anne-Sophie Demange Manager - Paris Anne-Sophie joined Bionest in Since her arrival, she mainly contributed to projects focused on strategic issues: Market access, strategic & franchise planning, strategy operational implementations, corporate development including business opportunity assessments, and entry in Europe American biotech companies. She has mainly worked American and European clients including biotech and big pharma companies. Prior to joining Bionest, Anne-Sophie worked at Sanofi in Singapore. Anne-Sophie holds a graduate degree in Chemistry from ENSIC (Nancy) and holds a Master in Management from ESCP-Europe (Paris). Anne-Sophie speaks French, English and German fluently. Rachel Laing, Ph.D. Manager New York Prior to joining Bionest, Rachel completed a Ph.D. in Medical and Molecular Pharmacology at the University of Calinia, Los Angeles. Her doctoral research was focused on tumor metabolism, with a focus on cancer immunotherapy and PET imaging biomarkers. Rachel has extensive project experience in oncology, including solid and hematology-oncology indications, neurology, orphan diseases, biologics, novel antibody platms and specialty markets, and her work has focused on clinical and commercial assessments, qualitative and quantitative analysis, decision making, personalized medicine and primary market research. Rachel also holds an MS in Neuropharmacology from the University of Oxd, and a BS in Molecular and Cell Biology from UCLA. Page 13

14 Bionest Senior Advisers Claude Allary Senior Adviser - Paris Claude focuses mainly on Pharma activities and Strategy. Bee co-founding Bionest in 2003, Claude was an ISO HealthCare Consulting VP in Paris ( ), responsible the European healthcare services and Senior Consultant in healthcare Arthur D. Little ( ). Claude held Corporate positions 14 years with Glaxo PLC International, Rhône-Poulenc Santé International and Parke-Davis. Claude graduated from ESSEC and is a member of SFAF (CEFA, France). Scott Spector Senior Adviser - Paris Scott has 18 years of experience building international CROs. During a 10 year career with Quintiles, Scott served as the President of Quintiles France and Spain and also as global business affairs manager of two of Quintiles largest operating units CNS and Anti-Infectives. Subsequent to Quintiles, Scott was the President of CAC Oncology, where he grew the company from one subsidiary in Paris to a 14 office niche oncology CRO with operations in Europe, US and Latin America, bee selling it to AAIPharma. Most recently he served as the European President of Siro Clinpharm. Prior to his life in CROs, Scott held various senior management positions in consumer goods companies and media companies. Yasuhiro Komatsu Senior Adviser - Tokyo Yasuhiro has 40 years of pharmaceutical and life sciences industry experience. He has held several positions in research and development, product management, business development and licensing and strategic consulting. Yasuhiro began his career at Eisai Co. Ltd. and has founded / been one of the beginning members of several consulting and Life Sciences companies including Kansai Research Institute (KRI Inc.), Komatsu Associates, and H. Holstein GmbH & Co. KG. Yasuhiro graduated with a B.S. in Marine Biochemistry from the University of Tokyo and holds an MBA in Quantitative Methods from the University of Washington graduate business program. Kerstin Waterloh, Ph.D. Senior Adviser Munich Dr. Kerstin Waterloh has more than fifteen years experience in consulting to the healthcare industry. Her expertise spans across the value chain of a pharmaceutical company, covering corporate, market and product strategy development, process optimization and also market access (particularly pricing and reimbursement). Previously Kerstin headed the Private Equity and Venture Capital Life Sciences Team at IKB Private Equity, a German fund. Kerstin holds a BSc and a Ph.D. in Molecular Biology from the University of Southampton and an MBA from Manchester Business School. She is based near Munich and is bilingual in German Strategic and English. & Commercial Due Diligence Page 14

15 380 Lexington Avenue 43rd Floor New York, NY USA Tel: , rue du Général Foy Paris France Tel: Fax: info@bionest.com Page