Transcript Forum On Financing Biotechs

BC Biotech
Forum On Financing Biotechs:
Partnering
The Biotech Perspective
May 15, 2002
Celia Courchene
VP, Business Development
Xenon Genetics Inc.
Xenon Genetics – Background
 Private genomics-based drug discovery/development
company
 Founded 1996 by Drs. Michael Hayden, Simon Pimstone &
John Kastelein (all clinical scientists)
 Based in Vancouver; expanded to Montreal through the
acquisition of RGS Genome in 2000
 Currently 100 FTE’s, including 33 MD’s, MD/PhD’s,
PhD’s
 Raised >$87 M to date, including $74 M in the
mezzanine round in 2001 (Investors = Fidelity, Invesco, JP
Morgan, Novo & Pfizer)
 Experienced Management Team & Board
Xenon Genetics – Strategic Plan
Near Term
(2002)
Mid Term
(20032004)
Longer Term
(2005+)
Integrated drug discovery company
Develop portfolio of high value drug targets and compounds
Forward integrate into pre-clinical and clinical development
Advance drug candidates to proof-of-principle in human trials
Genomics-based pharmaceutical company
Develop/market new drugs addressing unmet clinical needs
Xenon Genetics – Partnering Experience
 Corporate
– Pfizer
• License – ABCA1 gene for the development of small
molecule therapeutics for elevating HDL-cholesterol
• Multi-year research funding
 Academic
– University of Wisconsin
– McGill
 Clinical
Xenon Genetics – Clinical Collaborations
CANADA
CVD, CNS
DENMARK
CVD, CNS
NETHERLANDS
CVD
FRANCE
CNS
ITALY
Metabolic
TURKEY
Metabolic
BRAZIL
CNS
LEBANON
CNS
ARGENTINA
CNS
TUNISIA
CNS
24 collaborations covering 35 distinct
and informative populations
SOUTH AFRICA
Metabolic
Biotech Partnering – Objectives
 Infancy
– Access Technology (in-licensing)
• Academic institutions
 Mid Life
– Exploit Own Technology (out-licensing)
• Third Party Validation
• Pharma
• Wall / Bay Street
• Assist with financings
• Close private rounds
• Go public
• Cash for operations
• Build Infrastructure
• Access External Expertise
• Development & Marketing
– Access Capabilities
• CRO’s
 Mature
– Build Pipeline (in-licensing)
Biotech Partnering – Deal Structures
 Partnering structures can include:
– Research collaborations
– In licenses
– Out licenses
– Options
– CRO Agreements
– JVs / Partnerships
– M&A
– Spin out
– Co-promotion
– . . . (permutations & combinations of the above)
Biotech Partnering – Deal Structures
 Deal structure dependant on & limited by:
– Partnering Objectives
– Market
• Therapeutic Market
• Disease indication
• Competitive products
• Product differentiation
• Partnering Market
• Potential partners
• Competitive products
• Product differentiation
– Creativity
Biotech Partnering – Tips for Success
 Choosing Your Partner
 Preparation
 Closing the Deal
 Relationship Maintenance
BC Biotech
Forum On Financing Biotechs:
Partnering
The Biotech Perspective
May 15, 2002
Celia Courchene
VP, Business Development
Xenon Genetics Inc.