MassCONNECT

Leveraging industry networks to

advance translational research

The goal of translational medicine…

Bench

Late-preclinical&

Preclinical dev

Clinical development

Clinical trials

BedsideIndustryIndustry

AMC/UnivAMC/Univ

10

20

30

40

50 60

40

30

20

10

1995 2000 2005

50

NM

Es

and

Bio

log

ics

Ap

pro

ved R

&D

Sp

end

ing

(US

$ Billio

ns)

R&D expenditures

Approvals

Sources: FDA/CDER, PhRMA, PricewaterhouseCoopers

Note: R&D spending from non-PhRMA companies not available

Pharma’s predicament

Courtesy of Ted Torphy, JNJ presented at Massbio Pharma Days

Translating research to products

Valu

e $

Valu

e $

Invention = data, tools, IP, Know-HowInvention = data, tools, IP, Know-How

RO1 funding enabled researchRO1 funding enabled research

Phase II-Proof of concept

Proof of principle

FIM

Animal disease model

Translation gap

“Applied” research

Basic research

Research progress

But the goal is impeded by translation gap!

Translation GapInability to effectively convert accomplishments achieved in the academic labs to the parlance of early stage pipeline opportunity

Poor networks of expertise, funding, and industry leadership

impedes transfer of value between academia and biotech/pharma

Translation GapInability to effectively convert accomplishments achieved in the academic labs to the parlance of early stage pipeline opportunity

Poor networks of expertise, funding, and industry leadership

impedes transfer of value between academia and biotech/pharma

Discovery work

Industrialization

Commercial-ization

MassCONNECT

Value $Value $

Time

Leveraging the industry accelerates the right opportunities

– Build a cross-disciplinary group of advisors and mentors

• provide tutoring and advice to diminish obstacles which derail promising early-stage technology prior to commercialization

– Rapidly screen technology to identify the most promising candidates

– Connect proven industry navigators & advisors

What’s in it for you…power of distributive tasking

• Using seasoned industry professionals to sift through and prioritize opportunities of value

• Helps you prioritize opportunities with greatest likelihood of success

• Capitalize on the industry network to target the parties most interested in licensing

•Increase the throughput of technology out of your office

Distributive tasking from industry professionals allows more opportunities to be examined, sorted and prioritized

Technology Scouting Innovator Services

Accelerating the right opportunities Accelerating the right opportunities

Products and Startups++ ==

Sources of Innovation

MassCONNECTMassCONNECT

Products & Startups

Partnerships with Industry

•Technology identification

•Investigator relationships

•Technology aggregation

•Technology identification

•Investigator relationships

•Technology aggregation

•Proof-of-concept development

•Bridging the valley of death

•Disciplined due diligence

•Turn science into products

•Proof-of-concept development

•Bridging the valley of death

•Disciplined due diligence

•Turn science into products

Commercially viable products to…

•Fill bio/pharma pipelines

•Conduct clinical trials

•Catalyze startups

Commercially viable products to…

•Fill bio/pharma pipelines

•Conduct clinical trials

•Catalyze startups

•Mentorship/Networking

•EIR program

•Workshops/training

•Sector experts

•Due diligence

•Grants/matching funds

•Mentorship/Networking

•EIR program

•Workshops/training

•Sector experts

•Due diligence

•Grants/matching funds

Ideal investigator profile for MassCONNECT

Entrepreneurial

Visionary

Collaborative

“Next gen”

Exciting ideas

Lacking industry relationships

Entrepreneurial

Visionary

Collaborative

“Next gen”

Exciting ideas

Lacking industry relationships

“Quick and dirty” guide to attracting investors

• Technical POC that is differentiated – In-vivo data (animal model)

• Have the animal model's data been repeated?

• Patents are available for exclusive licenses • Publication in a peer reviewed technology journal

– Publications in strong journals • ideal but not necessary

• Ability for platform development--->multiple targest (Dx or Thx) – If not..., then:

• option 1: more likely to outlicense to big pharma or biotech • option 2: get grant $ to show platform POC for 2nd target

• Validation from Industry experts regarding: – promise/importance of technology

• supported by diligence with KOL

• Who could eat your lunch– Evaluate 2-3 competing technologies, and provide an answer as to why yours is different– Reasons to believe viability

“Quick and dirty” guide to attract pharma

Secret Sauce to attracting pharma?

Anything that pulls risk forward!-Molecules (Thx/Dx)-Validated

- Tools- Biomarkers!- Mice, cell based assays- Abs, model molecules- Predictive disease models

Accelerating proof-of-concept to partnerships

Validated

ClearMarket

Potential

Ready toCommer-

cialize

Early-stage

UnclearMarket

Potential

I ncompleteTechnologyValidation

…commercially valuable university discoveries

the markets to which the discoveries apply

Commercialization GapCommercialization Gap““The Valley of DeathThe Valley of Death””

and

MassCONNECT Value Proposition

Demystify the translation gap– Reveal where the gaps are and how to fill them

• Proof-of-concept studies• Understand market (patient) needs• Hurdles to commercialization de-risking opportunities

Create high value linkage to industry– Bio/pharma networks– VC and other funding networks

Accelerate a value stream for your technology– Better licenses– Potential start-up

MassCONNECT delivers to you

presentationpresentation Non-profitNon-profit

VCVC

Development CorpDevelopment Corp

Corp LicCorp Lic

Return to AcademiaReturn to Academia

1-2x1-2xImproveImprove

Evaluation of business proposal

Business advisors work with investigators to coach

Concise business plan developed (by MBAs)

Office Hours•VCs- real time feedback•MassBio – BD&L

Creation of industry network

Introduction to funding network

In hand:•Refined business pitch deck•Understanding of business model•Strategy and operations delineated•Mentor network resource

Screening of technology • Industry feedback on strengths, weaknesses, opportunity, threats

Free participation in MassBio Programs•Entrepreneur’s University•BD Committee Meetings•Finance Committee Meetings

One-to-one consultation with industry expert

SubmissionSubmission

EvaluationEvaluation RefinementRefinement OutputOutput

Pharma DaysBuilding productive partnerships

Industry sourcing strategy revealed

One-on-one partnering with heads of business development at major bio/pharma

Intimate and unhurried exchange Intimate and unhurried exchange

of information.of information. Obviate the frenzy and “noise”

of other major partnering

conferences

A one to two day unique partnering event. Visibility + Accessability = Possibility

Best of all, Pharma Days is right here in Cambridge! No need to travel, take time out of your offices, or waste time trying to find a time to meet.

MassCONNECT

MassBio Innovation Exchange

Pharma Days

Investors Forum

Innovators’ Roundtable

MassBio Innovation Exchange

Web 2.0 open innovation platform

connects solutions to problems

Couples technology and the networking power of MassBio

Tailors technology disclosures to industry “spec”

Communication channel for accessed technology

Web 2.0 open innovation platform

connects solutions to problems

Couples technology and the networking power of MassBio

Tailors technology disclosures to industry “spec”

Communication channel for accessed technology

You are cordially invited to apply for participation in MassCONNECT.

http://www.massbio.org/membership/massconnect

Deadline April 16th, 2010

Have questions? Contact Imran Nasrullah, Chief Business Officer at MassBio, at 617-674-5151.

You are cordially invited to apply for participation in MassCONNECT.

http://www.massbio.org/membership/massconnect

Deadline April 16th, 2010

Have questions? Contact Imran Nasrullah, Chief Business Officer at MassBio, at 617-674-5151.

Back up slides

Sustaining growth – Wall Street’s

• Consider Lipitor, in mid year 2008, its global sales were $12B

•Next year’s return needs to be $1.2B• A new product needs to bring in $1.2B to keep EPS up!

Generally, limited resources hampers your effectiveness

Limted budgets

Staff:Disclosure ratio is small

Investigator

pressure

Limited resources for due diligence

Sifting for valuable disclosures

Opportunities

Disclosed Opportunities

•Limited throughput

•Lower value licenses

•Longer negotiation times

Innovators RoundtablesSolutions-based dialogue with leaders in industry and

stakeholders

Exclusive roundtable discussions with leading academicians, CEOs, R&D heads, angel investors, venture capitalists.

The objective: define a set of initiatives, where participants can, directly or through influence, bring the necessary funding to bear to assure that those early stage innovations with the highest potential continue to the clinic, enrich pipelines and improve options for patients.

  To devise better collaborative models to expedite translational

therapeutics.

MassCONNECT

MassBio Innovation Exchange

Pharma Days

Investor Forum

Innovators’ Roundtable

MassCONNECT Process

presentationpresentation Non-profitNon-profit

VCVC

Development CorpDevelopment Corp

Corp LicCorp Lic

Return to AcademiaReturn to Academia

1-2x1-2xImproveImprove

Business advisory services

MassBio Programs

Office Hours•VCs•MassBio – BD&L

One-to-one consultation

Network of funding sources:•VCs•Drug development•Business plan competition

One-to-one consultation

MassBio Programs

•Entrepreneur’s University•BD Committee Meetings•Finance Committee Meetings

Education Foundation Courses

SubmissionSubmission

EvaluationEvaluation RefinementRefinement OutputOutput