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IFG WEALTH MANAGEMENT FORUM THE PREMIER EVENT FOR NORTH AMERICAN FAMILY OFFICES

October 24-25, 2011, Ritz-Carlton, Amelia Island, FL

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Bay City Capital –

How to Profit from the

Life Sciences Industry

The life sciences industry holds great promise for

the future, but patience and having a broad view

of the industry are key. Private wealth managers

must diversify investments across the industry

and on products at various stages of their

lifecycle. Life sciences assets may not reap

instant results nor be suitable for portfolios with

short-term liquidity needs, but they are worth the

wait. Ahead of the IFG Wealth Management

Forum 2011 on Amelia Island, Florida, October

24-25, Carl Goldfischer, Managing Director at Bay

City Capital, highlights the real value of life

sciences assets in an investment portfolio.

IFG – How does the life sciences industry

compare with other industries?

Carl Goldfischer – Returns from life sciences

assets are attractive over the long-term. Large

pharmaceutical companies have a significant

number of blockbuster drugs coming off patent in

the next few years and are therefore under an

enormous amount of pressure to fill their

pipelines. Combined with the fact that they have

drastically cut funding for their own internal

research and development projects, they are now

forced to buy innovation externally.

IFG – What should investors take into account,

in order to successfully invest in this industry?

Carl Goldfischer – It is important for wealth

managers to invest with groups that are able to

diversify their portfolios into different types of

companies and products at various stages of the

product lifecycle, from discovery to

commercialization. Many venture firms are

confined to a strategy of solely investing in early-

stage companies. We do our fair share of

investing in early-stage innovation; however,

during times of market fluctuation, such as that

which we have experienced over the last few

years, our investment strategy allows our team

the freedom to invest in later-stage companies at

early-stage valuations. We also make a point of

investing solely in companies where our

operational, financial, and scientific expertise can

benefit the management team and create value

over the long term.

IFG – What asset allocation works best?

Carl Goldfischer – To succeed in this industry, it is

important to maintain a broad view. It is difficult

to predict which drugs will ultimately succeed,

Carl Goldfischer, Managing

Director at Bay City Capital,

shares his expertise on why

private wealth managers

should consider investing in

life sciences. Bay City

Capital will be attending the

upcoming IFG Wealth

Management Forum 2011.

FOR IMMEDIATE RELEASE

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IFG WEALTH MANAGEMENT FORUM THE PREMIER EVENT FOR NORTH AMERICAN FAMILY OFFICES

October 24-25, 2011, Ritz-Carlton, Amelia Island, FL

www.ifgwealthmanagement.com

therefore we pursue opportunities across the various life

sciences sectors – biopharmaceuticals, drug discovery, medical

devices, diagnostics and tools – and across different stages of

product development.

It is also important to maintain a global perspective. Emerging

markets, such as China, provide a significant investment

opportunity in the life sciences. The Chinese government has

launched a $125 billion initiative to overhaul its healthcare

system. The expectations for growth in life sciences in emerging

markets is five times that of the United States. Asset managers

who understand the life sciences industry and developing

markets, and are able to be selective with their investments, will

be successful.

IFG – Any final thoughts?

Carl Goldfischer – Investing in life sciences requires patience. But,

asset managers that use a diversified approach can provide

attractive returns for investors.

Salpi Balian, Press Manager – IFG, pressifg@ifgemea.com

The IFG Wealth Management Forum 2011

IFG’s Wealth Management Forum 2011 will take place at the Ritz Carlton, Amelia Island, Florida, October 24-25, 2011, and provides a

unique platform for investment decision makers from single and multi-family offices to engage in vibrant benchmarking sessions and

gain practical solutions and best practices to achieve optimal portfolio returns.

For more information please send an email to pressifg@ifgemea.com or visit the event website at www.ifgwealthmanagement.com

The International Forum Group

International Forum Group is a world-leading business information company, organizing exclusive, invitation-only gatherings of

business leaders across multiple industry sectors.

Providing a platform for senior executives to build mutually beneficial business partnerships, International Forum Group has

designed an unparalleled system for matching the core buying needs of the world’s largest organizations with the best solutions

available in the global marketplace. Empowering all our clients with the knowledge they need to lead in their respective fields is a

fundamental goal of all our forums.

For more information, please visit: www.internationalforumgroup.com

Bay City Capital

Bay City Capital is a life sciences venture capital firm investing in opportunities across various life sciences sectors in companies at all

stages of development. Established in 1997, the firm has managed seven venture capital funds representing $1.6 billion in capital

commitments. Bay City Capital has invested in over 90 companies to date and is actively seeking new investment opportunities.

More information: www.baycitycapital.com

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