The life science_innovation_roadmap%5b1%5d
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Transcript of The life science_innovation_roadmap%5b1%5d
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Arlen D Meyers, MD, MBAUniversity of Colorado School of Medicine
CEO, Society of Physician Entrepreneurs
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Biomedical and Health InnovationHealth
Digital HealthCare delivery platformsBusiness process innovation
BiomedicalDrugsDevicesDiagnosticsVaccinesCombined products
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Why is bioscience different?IP issuesRegulatory hurdlesHigh riskLong time to marketClinical trial issuesReimbursement issuesChanging business modelsThird party payer issues: Who is the
customer?
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BioentrepreneurshipThe pursuit of biomedical and health
commercial opportunityGoal is to create customer/user/patient
defined valueBy deploying biomedical and health product,
process, systems and service innovationWith uncontrolled resources
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FoundationsIntellectual Property ProtectionRegulatory Affairs and Reimbursement PlanTeamBusiness OpportunitySolution with sustainable competitive
advantage Business model
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3 Phases: SOPEPhase 1: Scoping the opportunity (SO)
Opportunity spotting Idea generation High level Opportunity assessment
Phase 2: Planning, vetting, feasibility, validating (P) Feasibility Analysis Validation and testing
Commercialzation StrategyPhase 3: Executing (E)
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Life Science Innovation Roadmap
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The Capital “Stack”
CapitalValue Advisors, LLC is a registered broker/dealer and member of the Financial Industry Regulatory Authority (FINRA) 8
Type of Capital Pros/ConsSenior Debt - Secured
Non-dilutive, least expensive, but ties up assets – limited amount available
Junior or Mezzanine Debt
May be non-dilutive, more expensive, may not tie up assets
Trade Credit/Credit Cards
More easily available, highest interest rates, non-dilutive
Preferred Equity Allows more debt, more aligned with owners, but dilutive
Common Equity Completely aligned with owners, but most dilutive, possible control issues
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Capital Sources
CapitalValue Advisors, LLC is a registered broker/dealer and member of the Financial Industry Regulatory Authority (FINRA) 9
Amount Growth Buyout
<$1MFriends/FamilySBAHigh Net WorthSmall Local Funds
High Net WorthSmall Local FundsSBA
$1-3MSmall PE FirmsVC FirmsBanks/Mezzanine
Small PE Firms
$3-5MPE FirmsVC FirmsStrategic InvestorsBanks/Mezzanine
PE FirmsStrategic Investors
>$5MPE FirmsVC FirmsStrategic InvestorsBanks/Mezzanine
PE FirmsStrategic Investors
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Financing Biomedical ventures Research
Mostly government basic science grantsDevelopment
Family, friends, foolsSBIR/STTRAngels and angel networksProof of concept awardsState development awardsBusiness plan competitionsCollaborative research and development grants
(CRADA)Crowdfunding sites like http://medstartr.comAccelerators like http://www.blueprinthealth.com
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Financing Biomedical VenturesCommercialization
IPO’sStrategic partnershipsCorporate Venture FundsVC’sReverse mergers/PIPE’s