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Rad Biomed Incubator Heraklion Final Sept 18

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Page 1: Rad  Biomed  Incubator  Heraklion  Final Sept 18
Page 2: Rad  Biomed  Incubator  Heraklion  Final Sept 18

RAD Biomed IncubatorRAD Biomed IncubatorThe Israeli incubator program started in 1991 to provide a sheltered environment for scientists and entrepreneurs from the former USSR

RBM was established in 1992 as general incubator, refocused in 1998 to biotech

Located in Tel-Aviv

Owned by the RAD group of companies

Six active graduate companies

MaimoniDex RAMaimoniDex RA

InnoScent Ltd

Page 3: Rad  Biomed  Incubator  Heraklion  Final Sept 18

9 Incubator companies

The RAD Biomed PortfolioThe RAD Biomed Portfolio

EDICAMRIOA

TouchMed TissueDetectTissueDetect

Drug-delivery pump Gene therapy Peripheral atherectomy

Improved enzymes Molecular diagnostics Cord-blood harvesting

Endoscopy Epidural-space detection

OccuOccuPharmaPharmaOpthalmic drug-delivery

Page 4: Rad  Biomed  Incubator  Heraklion  Final Sept 18

Our PhilosophyOur PhilosophyRBM is a biotech incubator that serves as a natural interface between the world of Israeli academic research and the global biotech industry

Long term vision: to build viable businesses and to create sustainable benefits to the economy and a significant return to investors and to the entrepreneurs

The goal of the incubation period is to prove the technological concept and its feasibility and to advance it towards commercialization.

To attain our goal we To attain our goal we establish for each project a business model establish for each project a business model &&strong IP position, and demonstratestrong IP position, and demonstrate thatthat it it can attain profitability can attain profitability

in a targeted market segmentin a targeted market segment

Page 5: Rad  Biomed  Incubator  Heraklion  Final Sept 18

The Deal FlowThe Deal FlowProjects are admitted to RBM either as a concept or as a small team with molecule/technology & executive-summary/IP/work-plan etc.

Deal flow is generated in the following manner: Deal flow is generated in the following manner:

Entrepreneurs approach the incubatorEntrepreneurs approach the incubator

Via our working relationship with TTOs Via our working relationship with TTOs

Proactive search for projects in Israeli academia and Proactive search for projects in Israeli academia and hospitalshospitals

Personal contactsPersonal contacts

Page 6: Rad  Biomed  Incubator  Heraklion  Final Sept 18

Rad BioMed Functions as a mini Pre-Seed VC

Test Criteria

• Clinical Need• Team• Market• IP• Technology• Project status

RAD BioMed’sInvestmentCommitteeProactive

search

for projects

Approval

ProductPositioning

Incoming deal- flow

Screening the dealScreening the deal--FlowFlow

Page 7: Rad  Biomed  Incubator  Heraklion  Final Sept 18

Our Nurturing Approach:

Mapping the needs (to reach the long-term goal), Assessing all the

available resources at set-up, Implementing and supporting

NurturingNurturing The Young Projecthe Young Project

While keeping our focus on the startupWhile keeping our focus on the startup’’s long term goals, s long term goals, we build the companywe build the company’’s works work--plan plan && activities stepactivities step--byby--step to position it for the next round of financingstep to position it for the next round of financing

RBM provides the incubator projects :

• Management & legal and financial support

• Business development and clinical consulting

• IP strategy and regulatory & reimbursement planning

• Extensive lab space for R&D

Page 8: Rad  Biomed  Incubator  Heraklion  Final Sept 18

Nurturing The PeopleNurturing The PeopleIn an ideal world, the “unskilled” entrepreneur would step aside and make room for a “seasoned” business-oriented project-leader

In the “real world” we are limited by budget constraints, so we appoint a project manager and then mentor and coach …

Coaching, coaching, coachingCoaching, coaching, coaching:Active interaction with project managers

Creating a “business-oriented” thinking process

Adhering to work-plan

Page 9: Rad  Biomed  Incubator  Heraklion  Final Sept 18

FundingFunding

RBM incubator is owned and funded by theChairman of the RAD Group of Companies

The projects are funded by the Israeli Government and matching-funds areprovided by the owner of RBM

Additional funding may be provided by business angels before or upon entry, and/or during the incubation period

Our companies seek VC or corporate funding upon graduation and at-timesalso during the incubation period

RBM maintains an active role in the fundraising processRBM maintains an active role in the fundraising process

Page 10: Rad  Biomed  Incubator  Heraklion  Final Sept 18

Task Oriented Management TeamTask Oriented Management Team

Idan Tamir, Ph.D.President & CEOBinah Baum, Ph.D. MBA

Director, Business Dev Shoshi Keynan, Ph.D.Project Manager

Drug development specialistsRAD group of

companies

Medical deviceconsultants

project IP expertsClinical & regulatoryexperts

Page 11: Rad  Biomed  Incubator  Heraklion  Final Sept 18

Handling The Maturing CompanyHandling The Maturing Company

Building Value To The Next LevelBuilding Value To The Next Level

√√ Demonstrating proof of concept –critical milestone

√√ Creating a strong IP position with freedom to operate

√√ Initiating regulatory procedures – what does the FDA look for? Initiating discussion with regulatory consultants

√√ Preparing succinct business plan for next investment round

√√ Creating a professional advisory board & appointing a medical director

√√ Initiating alliances with companies e.g. FP7 consortia

√√ Helping to secure follow-up financing / alliances with strategic partners

Page 12: Rad  Biomed  Incubator  Heraklion  Final Sept 18

WeaknessesWeaknessesIs project funding sufficient for required tasks?

will the tight budget allow us to chose the “perfect”manager?

How well do Government financing programs adapt to changing needs?

Distance from global markets

Support & coaching to company management

Responsibility and accountability

Focus on value creation - always market oriented

Work-plan within a limited budget

Achieving technological POC within these constraints

Determination, flexibility & success orientation

StrengthsStrengths

Page 13: Rad  Biomed  Incubator  Heraklion  Final Sept 18

Go Europe:Go Europe:

create alliancescreate alliances

Inclusion of our SMEs in FP7 consortia

Participation of incubator in FP7 consortia

Collaborations betw. our SMEs and clinical-centers

/SMEs in other European bioregions

Incubation of European preIncubation of European pre--seed projects in RBMseed projects in RBM

What do we need to do in order What do we need to do in order ““to do betterto do better”” ??