and

welcome you to our webcast:

“Technology Transfer in the 21st Century: Finding the Next

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Introduction

Moderator:

Mary Kathleen Flynn Senior Editor/Video ProducerThe Deal LLC

The audience is in listen-only mode

E-mail questions via the Q&A panel box

Select questions will be answered during the last 10 minutes of the program

Webex customer support at 866-229-3239

REMINDER

Jeff Jensen Chief Executive Officer

Fluxion Biosciences Inc.

John SteuartManaging Director

Claremont Creek Ventures LP

EXPERT PANEL

Maria Gotsch President and CEO

New York City Investment Fund

David BrophyDirector of the Office for the Study of PE

Finance/Associate Professor of FinanceUniversity of Michigan

School of Business Administration

EXPERT PANEL

The evolving incubator scene: Regional differences

across America

Seeds from the Big Apple: What sets it apart?

VC firms invested $215 million in 27 Michigan companies

during 2010

Source: Michigan Venture Capital Association

Setting the bar for startups and tech transfers

&

Universities’ role in nurturing new

technologies and startups

Best practices for developing and nurturing technologies and

startups

VCs invested $5.9 billion in 736 deals in the first-quarter 2011, a 14% jump in dollars and

a 6% decrease in deals, compared to $5.2 billion going into 787 deals in the first-

quarter 2010

Source: PricewaterhouseCoopers

Biotechnology investing expanded by 5% in dollars in

the first-quarter 2011 but dropped 21% in deals year over year with $784 million

going into 85 deals

Source: PricewaterhouseCoopers

LIFE SCIENCES VENTURE CAPITAL FUNDING (includes Biotech)

FIRST-QUARTER 2011

San Francisco Bay $381 million

New York Metro $190 million

Boston $182 million

San Diego Metro $82 million

North Carolina Research Triangle

$68 million

Source: PricewaterhouseCoopers

Obstacles and pitfalls for finding the right VC

Success stories: Notable portfolio companies

Examples of extraordinary returns from recent exits.Exit values are of national standards.

Returns from Michigan’s venture-backed companies

Company Industry Total VC Investmen

t

Return Multiple

IRR IPO Exit Value

Accuri CytometersAnn ArborUM spinout

Biopharma $28M 8x 117% $225M2011—Becton,

Dickinson & Co.

Arbor NetworksAnn ArborUM spinout

IT—Software

$33M Undisclosed amounts2010—Tektronix Communications

HandyLab Ann ArborUM spinout

Medical Device

$47M 5x 46% $275M2009—Becton,

Dickinson & Co.

Pump Engineering Monroe

Alternative Energy

$2.4M 11x 99% $27M2009—Energy Recovery Inc.

HealthMedia Ann ArborUM spinout

Healthcare Services

$17M 10x 42% $180M2008—Johnson &

Johnson

SirconOkemos

IT—Software

$16M 5x 16% $50+M2008—VertaforeSource: Michigan Venture Capital Association

Examples of extraordinary returns from recent exits.Exit values are of national standards.

Returns from Michigan’s venture-backed companies

Company Industry Total VC Investmen

t

Return Multiple

IRR IPO Exit Value

IntraLaseUM spinout

Medical Device

$73M 50% 2004 $813M2007—

Advanced Medical Optics

ArbortextAnn Arbor

IT—Software

$55M 10x 28% $190M2005 - PTC

Esperion TherapeuticsAnn Arbor

Biotech Pharma

$42M 13x 104% 2000 $1.3B2004—Pfizer

Inc.

Blue Gill TechnologiesAnn Arbor

IT—Software

$27M 477% $222M1999—

CheckFree Holdings Corp.

Continued…

Source: Michigan Venture Capital Association

Economic recoveries impact on tech transfers

Outlook

Q&A

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