Program
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Tuesday, May 20
11:00-4:30 First Annual BayBio Institute Classic
Location: Chardonnay Golf Club, Napa
Registration: Visit
BayBio website
By participating in this first annual golf tournament, you will be able to network with peers prior to the Opening Reception, benefit K -12 science education in Northern California, and support the non-profit 501(c)(3) BayBio Institute. Separate registration required.
2:30-5:00 Nature Biotechnology - Bioentrepreneur Roundtable
Title: Bioentrepreneur Beware: CEO War Stories on Investor Nightmares
Location: The Meritage Resort
Registration: Visit
Nature website
Venture capital is a key part of growing your biotech startup, but sometimes VCs can work against the interests of company founders and management. We’ve gathered a group of seasoned CEOs, VCs and a venture lawyer to discuss how and why life science ventures can sometimes go haywire. The panel will discuss what can go wrong during the financing process, including term sheets negotiations that seriously dilute equity, rounds that fall through at the last second, investor activism and hostile takeover of board seats. Take the opportunity to participate in a lively panel discussion that will explore key issues when borrowing other people’s money and ways that you can ensure investor and management goals synergize for the benefit of your business. Separate registration required.
5:00-6:30 Registration
5:00-6:30 Opening Drinks Reception
Sponsored by:
Wednesday, May 21
8:30-9:15 Registration
8:30-9:15 Continental Breakfast
Sponsored by:
9:15-9:30 Welcoming Remarks
9:30-10:45 BioVenture Leadership Session
Title: Life Sciences Investing Today & Tomorrow
A qualitative and quantitative look into current investing trends, lessons learned, and what the future holds.
Speaker:
Dr. Matthew Plunkett, Executive Director, Oppenheimer & Co.
Speaker:
Mr. Eric Walczykowski, Venture Capital Services, Deloitte
10:45-11:15 Coffee & Tea Service
11:15-12:30 Company Presentations Stream 1
11:15-12:30 Company Presentations Stream 2
11:15-12:30 Company Presentations Stream 3
12:30-1:00 Presenting Company Tabletop Meetings and Coffee & Tea Service
1:00-2:00 Lunch
2:00-3:15 Company Presentations Stream 1
2:00-3:15 Company Presentations Stream 2
2:00-3:15 Company Presentations Stream 3
3:15-3:45 Presenting Company Tabletop Meetings and Coffee & Tea Service
3:45-5:00 Trends & Issues Session 1
Title: Doing Business in and Leveraging the Economic, Human and Capital Strengths of India and China
This panel will explore the progress investors and life sciences companies have made in investing in India and China. It will also look at how biotech and device companies have participated in these new markets. What are the risks and benefits to the investors and operating companies in these emergent economies? What are the early success stories? What is the outlook and who else is going there and why? The panel, which will include a mix of venture capitalists and companies, will explore the opportunities, benefits, hurdles and prevalent business models in these two important new markets.
Chair:
Mr. William J Kridel, Managing Director, Ferghana Partners Group
Speaker:
Mr. Ron Eastman, Managing Director, Essex Woodlands Health Ventures
Speaker:
Dr. Rodney A. Ferguson, Managing Director, Panorama Capital
Speaker:
Dr. Charles Hsu, Venture Partner, Bay City Capital
Speaker:
Mr. Pratik Sharma, Principal, Atyant Capital Management Limited
Speaker:
Mr. Jeffrey Wasserstein, Executive Vice President North America Specialty, Dr. Reddy's Laboratories, Inc.
3:45-5:00 Trends & Issues Session 2
Title: Biotech IPOs: Outdated Oxymoron or Attractive Financial Alternative?
The first part of 2008 has marked a continuation of the recent trend of challenging IPO markets for biotech issuers. A lucky few companies have completed a lucrative sale of the company in lieu of an IPO. A number of others have managed to "get out," but a recurring theme even for these IPOs is downsized offerings and reduced offering prices, and often times a near-term return to the capital markets. The many unsuccessful IPO aspirants have been forced to pursue difficult private financings or firesale transactions.
This panel will share viewpoints from seasoned industry executives, representatives from buyside funds, and capital markets experts. The discussion will highlight who are today's biotech IPO investors; what's the truth with the "hedge fund mafia," what are the challenges with getting an IPO transaction completed and how can they be overcome; how does a company best prepare for a future IPO; and what buyside investors are looking for in an investment today.
Chair:
Dr. Matthew Plunkett, Executive Director, Oppenheimer & Co.
Speaker:
Mr. Alan H. Auerbach, CEO & President, Cougar Biotechnology
Speaker:
Mr. John Freund, Managing Director, Skyline Ventures
Speaker:
Mr. Matthew Perry, Portfolio Manager, Biotechnology Value Fund, L.P.
Speaker:
Mr. Sameer Vasudev, Managing Director, Oppenheimer & Co.
3:45-5:00 Trends & Issues Session 3
Title: How NOT to Partner Your Asset
Striking the right partnering deal has never been more important to the success of venture-backed life science companies, both biopharm and med device. This session will look at the critical steps in the partnering process, starting with the most common mistakes that venture-backed companies make in their interactions with business development teams from larger potential partners. The goal will be to provide entrepreneurs and investors with a better practical understanding of the partner’s point of view and preferences.
Chair:
Mr. Lou C Bock, Managing Director, Scale Venture Partners
Chair:
Dr. Jens W Eckstein, General Partner, TVM Capital
Chair:
Dr. Tony Natale, Venture Partner, Prism VentureWorks
Speaker:
Mr. Peter Condon, Associate Director, Genentech, Inc.
Speaker:
Dr. Jennifer Griffiths, Head Negotiation Neuroscience and Opthamology, Novartis
Speaker:
Dr. James Schaeffer, Executive Director, Merck, Inc.
5:30-6:00 Bus Transportation to Dinner
Buses will depart from the front of the Resort. If you choose to drive, there is sufficient parking and the drive is approximately 20 minutes.
Click here for directions.
6:00-8:00 Dinner at Jacuzzi Family Vineyards
Join us for a taste of fine
foods, excellent wine and a relaxed atmosphere
for networking at the Jacuzzi Family Vineyards.
For more visit:
www.jacuzziwines.com
Thursday, May 22
8:30-9:00 Continental Breakfast
9:00-10:15 Trends & Issues Session 4
Title: The Politics of Biotech Tomorrow
This panel will discuss the impact of the upcoming elections on the biotech industry. Industry representatives from both political parties will discuss and debate the issues such as:
How will political initiatives influence the direction and the long term implications for the industry?
Will initiatives like patent reform, Medicare and reimbursement reform, FDA regulatory oversight, and public safety issues have adverse consequences for the biotech industry and for startup companies?
What will change from today to tomorrow?
Chair: Mr. Steve J Stuckey, Regional Managing Director - Technology & Life Sciences Division, Comerica Bank
Speaker: Mr. Matt Gardner, President & CEO, BayBio
Speaker: Mr. Paul J. Hastings, President and CEO, OncoMed Pharmaceuticals
Speaker: Ms. Kelly Slone, Director, Medical Industry Group, National Venture Capital Association (NVCA)
Speaker: Ms. Risa Stack, Partner, Kleiner Perkins Caufield & Byers
9:00-10:15 Trends & Issues Session 5
Title: Spy vs. Spy: The Top Ten Things That CEOs Can't Stand about VCs (and vice versa...)
This hardy panel of road-tested biotech executives, and savvy venture capitalists, will discuss and opine on their respective faults (and good qualities...), while trying not to interrupt each other too often.
Chair: Ms. Laura Berezin, Partner, Cooley Godward Kronish LLP
Speaker: Mr. Ed Hurwitz, Director, Alta Partners
Speaker: Dr. Lori Rafield, CEO, LFR Advisors
Speaker: Mr. Scott Salka, CEO, Ambit Biosciences
Speaker: Mr. Thomas E Smart, Chairman & CEO, AnaptysBio, Inc.
9:00-10:15 Trends & Issues Session 6
Title: Navigating the Capital Markets
In a recent survey, Biotech CEOs have raised managing the capital markets as a top issue for 2008. This keen focus is driven by the cost of bringing a compound to market, the uncertain public markets and the increased partnership dynamics with Big Pharma.
As the cost of commercializing a compound has increased in many cases from several hundred million to billions of dollars, the capital markets strategy has become complex and is often achieved with a mixture of government grants, private investment (venture capital), strategic investment (Big Pharma) and the public markets.
The public markets present an interesting challenge in today’s environment of volatile stock market conditions caused by a looming recession. These volatile conditions can make pricing a tricky issue and fundamental business metrics including a robust pipeline, proven management team and potential partnership of the utmost importance.
The use of partnership dollars is also extremely tricky, given the agenda of Big Pharma to fill their pipeline through acquisition. This agenda causes CEOs to fret over restrictive terms that fill short term company coffers and significantly limit the upside on the eventual exit.
While venture dollars continue to flow for Biotech companies, the thinning talent pool makes attracting the right team that much more important to ensure favorable valuation.
Chair: Mr. Eric Walczykowski, Venture Capital Services, Deloitte
Speaker: Mr. Chris Ehrlich, Partner, InterWest Partners
Speaker: Dr. Jim I. McLoughlin, Executive Director Business Development, Pfizer - BBC
Speaker: Mr. Antoun Nabhan, VP, Operations & Investor Relations, Presidio Pharmaceuticals, Inc.
10:15-10:30 Coffee & Tea Service
10:30-12:00 Company Presentations Stream 1
10:30-12:00 Company Presentations Stream 2
10:30-12:00 Company Presentations Stream 3
12:00-12:30 Presenting Company Tabletop Meetings and Coffee & Tea Service
12:30-1:30 Lunch
1:30-3:00 Company Presentations Stream 1
1:30-3:00 Company Presentations Stream 2
1:30-3:00 Company Presentations Stream 3
3:00-3:30 Presenting Company Tabletop Meetings and Coffee & Tea Service
3:30-4:45 Trends & Issues Session 7
Title: Consumer-driven Innovation in Healthcare
Motivated by greater access to and understanding of health care information as well as increasing out-of-pocket costs, consumers are becoming more engaged in managing their health and well being. This is increasing the importance of consumer-driven innovation throughout all aspects of the healthcare sector. Healthcare companies that appreciate this are seeking to better understand consumer needs and desires as part of a renewed process of accessing the most relevant technology and clinical programs to deliver on those needs. Opportunities also exist in the development of trusted, reliable information and new, convenient ways to communicate that information. Another important part of the equation is enhancing the connections between healthcare consumers and the appropriate healthcare providers. Ultimately, success lies in innovative product development, user-friendly information systems, and quality consumer-provider relationships. A panel of experts will explore many opportunities to better leverage consumer-driven innovation throughout the entire process of discovering, developing and commercializing new healthcare products and services.
Chair: Dr. Kevin E. Driscoll, Executive Director, Global New Business & Technology Development, Procter & Gamble Health Care
Speaker: Dr. Debra L. Bowen, President, Pharma Science Consulting, Inc.
Speaker: Mr. Craig Froude, Executive Vice President and General Manager, WebMD Health Services
Speaker: Ms. Nina Kjellson, Partner, InterWest Partners
3:30-4:45 Trends & Issues Session 8
Title: Is Big Pharma Committed to Doing Early-Stage Deals and on What Terms?
Panelists from pharmaceutical and biotech companies will offer their views on partnering to fill their companies’ pipelines. They will discuss reasons and expectations for partnering and how to manage alliances to make them successful. They will also comment on partnering trends in the industry, including deal structures and terms. The audience will gain an insight into the rationale for partnering from representatives from both biotech and large pharma with extensive experience in negotiating, executing and managing strategic alliances.
Chair: Dr. Frances K. Heller, Head, Strategic Alliances, Novartis
Speaker: Dr. Sarah Bodary, Director, Schering Plough Biopharma
Speaker: Dr. David K. Rosen, Executive Director, Pfizer Inc.
Speaker: Dr. Frank Verwiel, President & CEO, Axcan Pharma
Speaker: Dr. Yael Weiss, Director, Licensing & Ext Research, Merck Research Labs
Speaker: Mr. Steve Yoder, General Counsel, MorphoSys AG
4:50-5:30 Closing Session
Title: The BayBio Institute Presents: The Bioeconomy and Global Challenges
This inaugural session is organized by the San Francisco-based BayBio Institute to foster better understanding of the economic and social impact of the life sciences.
This is a time of great global challenges: including expanding world population, food production issues, rapid urbanization, novel communication technologies, emerging infectious diseases, peak oil, and global warming.
However, the life sciences are increasingly providing solutions in areas such as human, animal, and plant health, food, materials, energy, and other industrial applications, as well as combining in productive ways with computer software, hardware, and communications – to remake the economy as we know it.
This session will explore these issues from various angles to stimulate an ongoing dialogue about how the life sciences are remaking the economy of the Bay Area, of California and the U.S., as well as the world. The vast majority of people alive today work with living systems, as farmers or processors of living materials. The application of science and technology to this economy comprises the bioeconomy – with products and services of greater value at each stage of production.
How the Bioeconomy will unfold on the world stage is crucially important to the future of human life on earth, as we face great global challenges and opportunities.
Chair:
Dr. Moira Gunn, Host, Tech Nation & BioTech Nation
