Cebr 1st Incubation Sig 2

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Heraklion_14_September_2007 1 www.toscanalifesciences.org

Transcript of Cebr 1st Incubation Sig 2

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www.toscanalifesciences.org

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2TLS Foundation

Toscana Life Sciences Foundation was established in Siena two years ago by different public and private subjects, with the aim of supporting research activities in the field of life Sciences and, in particular, fostering the development of projects from basic research to industrial application in the field of Life Sciences

The TLS final mission is to trigger the technological and

industrial development and improve job and wealth creation

in the Tuscan Region

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Toscana Life Sciences

Regional UniversitiesPublic Administration

Local Financial Institutions

Strengthening the value of research

Territory

Industrial development

TLS mission

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4Founders

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Germano CarganicoGeneral Manager Andrea Paolini

Administration

Ilaria Niccolai Administrative Assistant

Francesco Refi Infrastructures/ IT

Francesco Maria Senatore Business Development

Letizia Sensini Comunication

Cristina Tinti Scientific Affairs

Laura Salvini Technology Facilities

TLS Foundation boards and staff

Founders Board

Executive Board

Scientific Advisory Board

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Sustain applied research in the biomedical

field, with a major interest versus socially

relevant pathologies

The Tuscan Institute for Neglected Disease

Develop the cluster by attracting companies

operating in the pharmaceutical/biomedical field

The bio-incubator and the science park

TLS – Activities

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7TLS project chronology

TLS foundation’s establishment

TLS operations begin

1° Call for Incubation

Restructuring of Bio-incubator starts

First project selection

The Bio-incubator is inaugurated

First two companies start operations

December 2004

September 2005

December 2005

February 2006

July 2006

November 2006

March 2007

Other two companies move in December 2007

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Total surface area: 83.000 sq. mt.

Total buildings surface: 38.400 sq. mt.

Labs (research/devel./Q.A.): 8.200 sq. mt.

Production plants: 6.800 sq. mt.

Warehouses: 2.800 sq. mt.

Offices:

8.400 sq. mt.

Services: 4.700 sq. mt.TLS bio-incubator and Sienabiotech

Industrial and academic research activities

Center of excellence for Novartis Vaccines

More than 400 researchers

Common facilities, services and utilities

Location: Siena - “Torre Fiorentina” Novartis site

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9TLS bio-incubator

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10TLS bio-incubator – facilities

1st stage. July 2006, 1.700 sq. mt.

5 Modules (lab + offices) of 90 sq.

mt. 3 Modules (lab + offices) of 60 sq.

mt. PCL3 lab, analytical, NMR, animal

house facility, cell culture lab, etc Common services (reagents,

solvents, stockroom, etc)Offices Reception, meeting rooms

2nd stage. Fall 2008, tot 3.000 sq. mt.

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11TLS bio-incubator - funding

Total initial investment: 12 M € (restauration of

the building / technological facilities)

Infrastructures & equipments co-financed (60%)

mainly by public grants

Yearly running costs: 3.5 M € (60% covered by

space rental and provided services)

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12Positioning the TLS bio-incubator

Monothematic : pharmaceutical / biomedical drugs (no specific clinical focus) diagnostics medical devices biomedical technologies

Applied research

Development (expertise and infrastructures)

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Custom tailored lab spaces,

Laboratory equipment

Access to common technological facilities

General services (site maintenance and security, utilities, reception, centralized procurement,..)

Consulting services

Support for financing

What we offer - Nurturing the young projects

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14Consulting services - Nurturing the young project

Intellectual property protection

Technology transfer

Licencing

Personnel recruitment

Legal advice

Finance and fiscal issues

Product development

Business development

Marketing and communication

Identifying industrial and financial partners

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Preferential access to a local seed capital company (BioFund)

Consolidated relationships with several financing subjects:Regional closed investment funds (SienaVenture, ToscanaVenture)Other national investment funds (Quantica, Sviluppo Italia)Venture Capital (Sofinnova, Index, Neomed, Sofimac, LM-LS, 360°Partners, etc.)Business Angels

Establishment of theTLS Investment Advisory Panel

Support for national and international grant scouting and submission application

Support for financing - Nurturing the young project

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16Financing Incubated Companies

Involvement of the local “seed capital” company (BioFound)

and local funds

3-year financing (extension to 5 years)

Private Equity scheme (majority to the financial investors) with

increasing quotes for the promoters mainly linked to research

milestones

Attraction of further investors

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17BioFound

Seed capital company” established by MPS Foundation, MPS Bank, Finanziaria Senese di Sviluppo and Fidi Toscana

BioFound will act preferentially as co-financing partner acquiring equities of the start-ups facilitating a second investors entryFinancing range over 3 years: 1-3 M Euro

Very flexible Private Equity investment scheme:

Minority participation to the company capital (under 49%)low rate of return expectedMedium/long term exit strategy

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18First round financing

                          

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The biotechnology industry is steadily growing

The Italian biotech industry is growing and catching up with the European standard

There is a strong biotech tradition in Siena

There is a relevant academic setting (high level of scientific production)

The development of the biotech sector is supported by local and regional government

Business incubators in the EU make a significant contribution to job and wealth creation (Benchmarking of Business Incubators, EC Enterprise

Directorate General, February 2002)

Major reasons for establishing the bio-incubator

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Tuscany Cluster

The cluster is home to:

19 Biotech companies,10 of which born since 2000

14 Global Biotech & Pharma research centers active in clinical trials

55 Biotech/Pharma locations of Manufacturing, Research and Administration

3 Universities areas (more than 7.600 graduates in technical e scientific

fields in 2004)

78 Hospitals involved in clinical trial (with an average of 23 trials per

organization)

1.029 Clinical trials (excluding phase I) conducted in the period 2000-2004

Total = 19

Number of Biotech Companies by Sector 2004

Tuscany: a strategic research location

From “Invest in Tuscany – Biotechnology Report 2006”

Territory:• Inhabitants: 3,6 millions• Population density: (163 inhabitants/ sq.km)• Surface 2.992 Km

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22Bio-incubator - mission and goals

MissionSupport the birth of new entrepreneurial activities in the biomedical and pharmaceutical fields in order to reach a critical mass for the generation and self sustainment of a biotech cluster in the Tuscan Region

GoalsExploit the know how generated in the regional academic settingSustain company, academic spin off and start upAttract entrepreneurial activities in the biotech sector from other regions

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The TLS incubator is open to start-up, spin-off and recently set-up companies (less than 3 years old) wishing to relocate

Applicants must have a sound business idea, a consolidated research history in the field and preferentially, a previous collaboration with industry

The agreement will be for 3 -5 years. The rental expenses cover the lab space, utilities and general services

Once companies are mature they can move to an industrial area close to Siena (master plan in progress)

TLS will still provide consultancies and facilities for the developmental phase

Access to the TLS bio-incubator

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24The deal -flow

International Call for Application

Scouting

Tight relationship with the TTO of the Tuscan universities

Business plan submission

project selection (quality as guiding criterion)

TLS Executive Board approval

Incubation

Finding start up financing

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25Selected companies

Company Project

1. Molteni spin-off

2. Toscana Biomarkers

3. AxaPharm

4. Externautics

5. SienaGen

6. Rasna

7. SetLance

8. Gladium

Photodynamic antimicrobial therapy

Diagnostics for autoimmune diseases

Pain treatment and new antipsychotics

New targets for oncology and autoimmunity

Degenerative diseases (VEGF-D biology)

Cocaine addiction treatment

Branched peptides for tumor targeting

Cancer vaccines

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26Features of the first 8 selected projects

Coming from: Siena, Firenze, Pisa, Milano, San Diego, Copenhagen

Mostly academic spin-off (6)

Previous licensing-out experience (3)

Presence of an industrial partner (3)

Previous experience of spin-off / start-up process (4)

Proprietary technology platform (3)

Intellectual property assets (7)

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27TLS science park companies

AxaPharmAxaPharm

Externautics

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28Unmet needs

Available managers trained in the pharma/biotech sectors

Courses of entrepreneurship for young scientists

More high risk financing subjects

Business intelligence activities

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29TLS bioincubator peculiarity

Highly customized lab setting

Lab equipment for 200.000 euro

Technology facilities

Well developed consultant’s network

Attracting environment