Company Profile April. 14, 2016 - Cosmofarma Exhibition · Co-founded and managed by an experienced...
-
Upload
duongxuyen -
Category
Documents
-
view
214 -
download
0
Transcript of Company Profile April. 14, 2016 - Cosmofarma Exhibition · Co-founded and managed by an experienced...
ABOUT BiovelocITA
The first Italian accelerator for biotech-healthcare
Accelerates the transition from good ideas to viable industry projects
Seeds and advances till proof of concept research programs sourced from Italian academy
Brings together best-in-class scientists, entrepreneurs andvisionary investors
2
BiovelocITA – FOUNDING TEAM
Gabriella Camboni, MD, CEO– Was co-founder and COO of EOS, since inception and until the acquisition by Clovis Oncology
– Previously she held various managerial positions in the biotech and pharma industry, including being co-founder and Head of Development at Novuspharma and Head of Medical Affairs Europe for Novartis Oncology
Silvano Spinelli, Chairman– Founded EOS S.p.A. (Ethical Oncology Science) in January 2006 and has been its Chairman and
CEO until the company was acquired by Clovis Oncology in November 2013 for $ 470M
– Previously Silvano was co-founder and CEO of Novuspharma. The company has its IPO in 2000 in the Italian Nuovo Mercato, collecting more than Euro 160 millions
Graziano Seghezzi, Director– Partner at Sofinnova Partners since 2006
– 5-year experience in venture capital in two leading European venture capital firms focused on biotech creation
– Participated to the creation of and invested in numerous companies both from academia (start up) and from corporates (spin off)
– Established exit track record and broad international experience
Co-founded and managed by an experienced team
3
PROMOTED BY SOFINNOVA PARTNERS
Independent venture capital firm with a 40-year history
Managing about $ 1.5B in 9 different funds
Dedicated to Life Sciences, particularly to biotech
Focused on company creation: startup, early stage and spin-offs
Over the last 25 years, invested in ~85 companies
for a Gross Multiple of 2.8x and Gross IRR of 25%
4
ITALY TODAY – GAP ANALYSIS
EXCELLENT SCIENCE
Top 10 country in scientific output (H score)
Top 10 country in IP output, both for applications
and grants (WIPO data)
Globally recognized centers of scientific excellence
5
Sources: L. Martz, Biocentury Innovation, January 21th, 2016
ITALY TODAY – GAP ANALYSIS
The scientific output is not matched by venture funding: as low as € 55M in 2015
6
ITALY TODAY – THE OPPORTUNITY
EXCELLENT VALUE CREATION
Growing number of “pure biotech” companies:
264 in 2014 (EY: Italian Biotechnology Report)
~$2.5 bi in M&A and ~$3 bi in market cap
High rewards exits track record
7
Source Sofinnova Partners
Pharma appetite for preclinical assets is high especially in oncology, CNS and metabolic diseases (Nature Biotechnology, 2015)
Year Target Company Buyer Country Overall Deal Value ($m) Indication(s)
2015 Flexus Bristol-Myers Squibb 1.250 Oncology
2014 iPierian Bristol-Myers Squibb 725 Genetic diseases
2014 Dutalys Roche 489Bi-specific
antibodies, oncology
2014Pregenen
(Precision Genome Eng.)Bluebird Bio 156 HIV, oncology
2013 Amplimmune AstraZeneca 500 Oncology
2013 Acetylon Celgene 100 Hemathology
2013 Lotus Tissue Repair Shire 325Dystrophic
epidermolysis bullosa
2013 Callidus BiopharmaAmicus
Therapeutics130
Genetic orphan
diseases
2012 deCode Genetics Amgen 415Genetic Diseases,
orphan
2012 CorImmun Johnson & Johnson 200Cardiovascular, heart
failure
2012 Envoy Therapeutics Takeda 140CNS, Parkinsons,
Schizophrenia
Preclinical Deal Flow 2012-2015
8
POSITIONED TO CATCH THE OPPORTUNITY
BiovelocITA brings together best-in-class scientists, entrepreneurs and international investors
Silvano Spinelli – Chairman
Gabriella Camboni – CEO Successful Italian repeat
entrepreneurs with highest investors’
confidence and spotless track record
PROVEN MANAGEMENT TEAM
INVESTORS STRENGTH
SOFINNOVA PARTNERS
promoting the initiativeFirst closing at € 6M with visionary
Italian investors, interested in Life
Sciences
HIGH QUALITY DEAL FLOW
IEO, IFOM, MONZINO… more
to comeSecured privileged access to top
notch Italian research centers
Considering additional relationships
9
BIOVELOCITA KEY FACTS
Incorporated in July 2015 as a Limited Liability Company (Italian S.r.l.)Fully operational since October 2015
Raised over € 7M to date by:
– Sofinnova Partners
– Private Italian investors through Banor SIM
– Atlante Venture (IMI Fondi Chiusi SGR- Banca Intesa)
– Management
Access to three lead Italian Research Institutions through Master Agreement with TTFactor (see next slide)
– Ad hoc discussions for project ongoing with HSR Milan, University of Lecce, IIT Genova
12 projects assessed since inception
– 5 turned down
– 5 under assessment/due diligence
– 2 deals in advanced negotiation10
BIOVELOCITA CURRENT HORIZON
BiovelocITA plans to raise up to € 15 Mi to conduct 4-5 projects over the next two-three years
Typical seed is: € 500k-1M over 12-24 months
– Larger investment around € 1.5M possible in selected cases
Large platform, advanced projects
– The project is seeded to proof of concept, i.e. until the academic idea becomes a tradable asset or is discarded
BiovelocITA gains project-IP rights (option or license), provides funding, industrial perspective and manages the project in a development-oriented manner thanks to:
– Outstanding biotech network to provide top level industry experts tailored to each field (including Sofinnova network);
– Direct experience grown in previous industrial settings
BiovelocITA nurtures emerging talents to become managers in the spin-off companies
11
Reprofiling of a known drug for thetreatment Cerebral CavernousMalformation (CCM)
CCM is a vascular disease of the brain: bloodvessels become malformed (mulberrylesions), leaky and prone to hemorrhagecausing seizures, neurological deficits andhemorrages (30-40% of affected patients)
– Repeated neurosurgery is the only therapy but it isoften not possible due to the location of thelesions
The prevalence of CCM is 0.1-0.5%
– Can be sporadic (80%) or familial (20%)
The familial form is an orphan indication withexpected market size of 500+ €Mi
“Mulberry” lesions
DEAL UNDER EXECUTION
12
Familial CCM is causedby inherithed loss-of-function mutations in the genes identified asCCM1,2 and 3
Scientist at IFOM discovered a molecularpathway associated with familiar CCM anda corresponding inhibitor
BiovelocITA is finalizing an exclusive optionto this project, the first one arising fromthe partnership with TTFactor
BiovelocITA will lead the pharmacology,CMC and regulatory work till the IND
Investment up to 1.5 M
– Larger than typical pre-IND status
BiovelocITA and TTF will own an equalshare of the resulting proceeds
DEAL UNDER EXECUTION – Cont.
13
BIOVELOCITA CURRENT HORIZON
BiovelocITA’s strategy beyond proof of concept is optimized for each project, e.g.:
– Technology with demonstrated potential for multiple assets spin-off company and series A
– Single asset in a high-demand field license/trade sale
Ideal Scenario: 2 spin-off companies and 1-2 deal
BiovelocITA has two revenue streams:
Short Term
– Sale of projects to biotech/pharmaceutical companies
– Return of investment time range: 2-3 years
Long/Medium Term
– BiovelocITA shareholders to become shareholders of spin-off companies with right to co-invest exit via M&A, IPO
– Return of investment time range: 5-6 years
14