how to convince successful financiers to give you millions of dollars in a project doomed to fail!

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hey buddy, can you spare a $100 million? By Mike Polonsky, Oct 7, 2008. Part of the Post Doctoral Fellowship Networking Event.

Transcript of how to convince successful financiers to give you millions of dollars in a project doomed to fail!

hey buddy, can you spare a $100 million?

how to convince successful financiers to give you

millions of dollars in a project doomed to fail!

or

Michael PolonskyOctober 7th, 2008

I love love loveentrepreneurs innovation canada

General Petraeus on powerpoint

"It's how you communicate big ideas - to communicate them effectively."

what is a presentation

?

general specific

The closet cousin to a power point slide is a billboard!

350 employees

75 key accounts

Business plan

Momentum

Overcome obstacles

95,000 square feet

8 products

Competitive advantages

Mission

Vision

Values

logo

Track record

Chief financial officer

Strengths

Opportunities

Expert board

Awards

Growth strategy

Organizational chart

Money in the bank

Features and benefits

VC shareholders

Website

Audited statements

Something big coming

Media coverage

Revenue model

Acquisitions

Nice boardroom

Technology

Intellectual property

7 years of hard won memories

But you’ve got a lot to say …

leave an impression

On June 4 1940, Winston Churchill delivered a 45 minute speech, commonly known as “We shall fight on the beaches”, to the House of Commons of the British Parliament. It was a great inspiration to an embattled United Kingdom as it entered what was probably the most vulnerable phase of the entire war. Public opinion for the war effort was waning in the face of devastating losses and a formidable enemy.Churchill encouraged a country to keep fighting in 45 minutes.

how do you encourage someone to give you $10M in

45 minutes?

general specific

keep it high level don’t DROWN in DETAILkeep it clean

tip (not rule) no. 1

what is a presentation

?

350 employees

75 key accounts

Business plan

Momentum

Overcome obstacles

95,000 square feet

8 products

Competitive advantages

Mission

Vision

Values

logo

Track record

Chief financial officer

Strengths

Opportunities

Expert board

Awards

Growth strategy

Organizational chart

Money in the bank

Features and benefits

VC shareholders

Website

Audited statements

Something big coming

Media coverage

Revenue model

Acquisitions

Nice boardroom

Technology

Intellectual property

7 years of hard won memories

You got 45 minutes: on you mark, get set, go …

You actually only get 23 minutes.

Marathon 100 metres

NOW!

huh aha

(rapid transfer)

are created equal

NOT all

points

All points are equal

• Interesting point but not really relevant

• Uninteresting point but relevant

• Major, earth shattering, earth quaking point

• Interesting corollary perspective

• Necessary background point

• Interesting-but-dude-is-now-sleeping point

• Because-I-love-the-sound-of-my-voice point

The point

Big big big support

additional support

additional support

additional support

The point

Big big big support

additional support

additional support

Underlying takeaway message

The point

A

Underlying takeaway message

B C

The point

A

Underlying takeaway message

B C

1 2 3

24

13/ of all newproducts

The future of medicine

24

25

Outlook:

Revenue growth of 10 to15 percentin fiscal 2008

Cangene is fully integrated

Develop from concept to commercialization Manufacture process sensitive biopharmaceuticals Sellniche marketing team for biodefense products and commercial partnerships

27Strong preclinical franchise

Top 10Preclinical CRO worldwide

400+Active clients

90%Retention rate

8 of 10Largest pharma as clients

A fast growing, highly profitable CRO

27

28MERCATOR MINERALS LTD.

Strengthens steel

Anti-corrosive agent

Chemical catalyst

Molybdenum

annual market12$ B

*

*Add note here

GRID it to GREATthink about emphasisthink about scalethink about priorities

tip (not rule) no. 2

Not words

mapspicturesdiagramsillustrations

what is a presentation

?

20-30 slides

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• afj;psldk• aslkdflfk• asljkfhf

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• afj;psldk• aslkdflfk• asljkfhf

• afj;psldk• aslkdflfk• asljkfhf

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• afj;psldk• aslkdflfk• asljkfhf

• afj;psldk• aslkdflfk• asljkfhf

• afj;psldk• aslkdflfk• asljkfhf

• afj;psldk• aslkdflfk• asljkfhf

• afj;psldk• aslkdflfk• asljkfhf

• afj;psldk• aslkdflfk• asljkfhf

• afj;psldk• aslkdflfk• asljkfhf

• afj;psldk• aslkdflfk• asljkfhf

• afj;psldk• aslkdflfk• asljkfhf

• afj;psldk• aslkdflfk• asljkfhf

• afj;psldk• aslkdflfk• asljkfhf

• afj;psldk• aslkdflfk• asljkfhf

• afj;psldk• aslkdflfk• asljkfhf

the great ones are more than a series of slides

power of a narrative

what is a presentation

?

story1

which came first?

hungerno hunger … no plot … no one cares

Coronary Heart Disease

oneNumber

killer!20%of all deaths

B R E A K I N G T H R O U G H

Wet AMD

Meeting the Emerging Exploding DemandInsulin

What if there wasn’t enough insulin?

There isn’t.

What if there wasn’t enough insulin?

43

50% of potential wind energy is lost

0

43

25 - 30%Actual

efficiency

59.3%Maximum

theoretical efficiency (Betz limit)

4444

Actual misalignment in operationOptimal alignment

LOSTEFFICIENCY

wind

Yaw

Because the wind is always shifting, turbines are almost always misaligned…

ener

gy p

rodu

ced

ener

gy p

rodu

ced

45

Actual mis-pitch in operation

LOST ENERGY

Optimal pitch

ener

gy p

rodu

ced

ener

gy p

rodu

ced

MORE ENERGYCAPTURED

LOSTEFFICIENCY

…and because the wind is always gusting, the blades are almost always mis-pitched

45

value proposition

Solution to hunger

Neuradiab Survival Data

Clinically compelling difference

42%

1980 to

2004

2005

91Surgery + Radiation + Temozolomide + Neuradiab

Surgery + Radiation + Temozolomide

Surgery + Radiation

Survival in weeks

75604515 30 105900

weeks

47

64weeks

53weeks

CRD5 Rapidly Increases HDL

Crestor(Statin)

Niacin - ERCRD5Poorly toleratedLow market share

Levels still rising Non-optimized formulationHealthy volunteers

% in

crea

se in

HD

L

Expanding Clinical Benefit

30

(Source: OGY 07)

No drugs approved

Surgerychemo

OvaRex® MAb extends time to relapse

13months

Watchful waitingFrontline

TumorBurde

nCA 125 Level

Months 0 6 16

OvaRex MAb

Relapsediagnosed

10

Initiate OvaRex® MAb therapy

complete responses

25%

four doses of Proxinium™ complete tumor response

complete responses

51

FunctionFIRST™ yields results

500A pipeline of

antibodies

lead candidatesFive

51

52

We can make wind energyproduction more efficient!

Improvement with our technology!

Possibleefficiency

Actualefficiency

0

52

greed

you have to show them the 10 bagger - Michael Denny

no one invests in hyper growth stories to double their money

54

25%

market share

if at $5,000 = $692,500,000

ISA247 Psoriasis Opportunity

patients treated with oral immunosuppressants

in the U.S.

per treatment cycle

if at $10,000 = $1,385,000,000per treatment cycle

Establishedsafety and efficacy

Source: Datamonitor54

554,000

ISA247:

Top 3 drug categories

$ 1billion+

Cytostactics(Cancer)

Antiulcerants(GI tract)

Cholesterol & triglyceride

reducers

World’s Largest Drug Market

5 drugs over

$23.8B

$25.5B

$30.2B

56

Our potential

$11Billion

Wind turbine opportunity

Yaw benefit

Reduced wear

Improved speed control

Reduced downtime

Expanded operating envelope

Met tower replacement

Airports

Yacht/sailboats

Forest fire fighting

National wind map

+56

Pitch benefit

$8BSpent annually in North America expanding & replacing current infrastructure

57Resin Systems

need expressed: hunger

need addressed: value proposition

market opportunity: greed

don’t come up flatthink about structure

tip (not rule) no. 3

Not blind faith

brevitypatternsstoriesemotion

Complexity/quantity Time constraints Durable goals

right information rapidly transferred High impact/recall

don’t drown in detail grid it to great don’t come up flat

right informationthe

rapidly transferred

high recallwith

messagesdistilled

diagramspictures

everythingnot

maps

illustrations wordsnot

storiespatternsbrevity

emotion blind faithnot

don’t forget

milestones

request for cash

current shareholders

financings to date

IP

Milestones

Q3 2005 Q4 2005 Q1 2006

X

X

X

X

X

X

U.S. sales partner

Installed in 25 U.S. hospitalsInitiate studies for expanded indications

Initiate North American multi-centre trial

Initiate combo trial with multi-national partner

File for Canadian and European approval

SPY System

OPTTX System

Exendin-4 Albumin Conjugate: Next Steps

(PC-DAC™:Exendin-4)

One month multi-dose Phase I/II trial

Investment Opportunity

– Launching commercial platform

– Expanding content partnerships

– Developing molecular tests

– Scaling quality manufacturing

Seeking

in financing to drive the business forward

$ million51

recommended reading

made to stick

brain rules

closing thoughts

evidence evidence evidence

show alittle leg …

speed dating

… move on

…transacts!

generatingearnedattributes

TALKlike a person

be authentic!

STOPthe bullshit

how do you get to Carnegie Hall?

100%of zero is zero

dilution

Think

big!!!

hard work

digging deep

doing better

tip (not rule) no. 4

wimps/settlers need not apply

thank you