Willow tree capital presentation july 2015

CORPORATE PRESENTATION

www.willowtreecapital.com

LicensingM&AStrategic

Consulting

July 2015

Due DiligenceCapital Markets

Financial Valuations

http://www.willowtreecapital.com/

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Willow Tree Capital Group | 2015

About Willow Tree

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WILLOW TREE CAPITAL GROUP is a boutique Investment

bank with a highly experienced team of multidisciplinary specialists devoted

to the life science industry. Our team – with practical expertise in healthcare,

science, business and capital markets – has completed Billions of dollars of

transaction value.

The team’s breadth of industry knowledge and collective leadership

experience enable us to deliver comprehensive strategic advisory services

throughout the business process.

We are well positioned to navigate through every step of complex

transactions, with clients ranging from early-stage biotech to big pharma.

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Our Culture

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Willow Tree Capital is an

unconventional investment bank with a

disciplined and entrepreneurial approach

to servicing our clients.

Our team has worked in the

Pharma/Biotech industry and owned &

operated our own businesses – leading to

a creative and fearless approach to

problem solving and driving through the

process.

This approach has led to a pipeline of LOI

negotiations in excess of $7B.

“I have had the pleasure of working with Willow Tree Capital Group on an acquisition project. Their team was knowledgeable, creative and resourceful in their approach. I will look to engage them again in future projects, and recommend working with them on either the buy or sell side of pharmaceutical assets.”

Bill Wells, former CEO of Biovail & Chairman of Valeant Pharmaceuticals

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360° Perspective

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We are comprised of pharma and non-pharma business experts that provide our clients with a unique 360° perspective and collaborative approach.

Willow Tree’s valuation and forecasting methodology is proven, disciplined and reliable.

Clients value our creative and innovative approach to business. Our unique outlook offers us competitive advantages in negotiations and in building strategic partnerships.

We have a global reach with strong international partners, team members and alliances.

“I have known Willow Tree Capital Group since its inception. The team embodies all the essential qualities of success: That rare combination of an astute capacity to see how medical/pharmaceutical assets create a business around an opportunity. These qualities in combination with exceptional management skills and integrity makes it a privilege for SOM Biotech to work with WTC.”

Raúl Insa, MD, PhD, MBA, CEO of SOM Biotech – Spain

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Willow Tree Services

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With a global presence, Willow Tree provides life science companies

with strategic advice and hands-on assistance with:


Consulting

Due DiligenceFinancial

ValuationsCapitalMarkets

Biotechnology Pharmaceuticals Medical Devices

Manufacturing Facilities Animal Health Medical Diagnostics

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Willow Tree Expertise

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Our team has extensive knowledge providing:

• Strategic business direction

• Arranging in- and out-licensing

• Advising on asset acquisitions and divestitures

• Capital raising

• Scientific and financial due diligence

• Financial valuations

Our extensive global relationships assist our corporate clients with

their capital markets needs.

We advise new biotech/pharma clients to implement strategic plans

and navigate through complex purchasing rights.

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Leverage Our Expertise

Our Firm Brings Hands-On Industry Experience

US$7B+ in LOI / Term

Sheet Negotiations

US$3B+ transactions

completed by team

Clients include seed-

biotech to big pharma

Global transactional

experience

Extended team with

solid life sciences

credentials

Decades of relevant

global industry

experience

Over 75 peer reviewed

publications

Successful entrepreneur

exits

90+ years experience in

corporate growth

strategies

Extensive global

networks

Expert company and

product financial modelling / valuation

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Transactional Experience

Inhale Therapeutics / Bradford Particle Design (UK): $200M (public / private; stock & cash)

Agilent / Stratagene: $245M (public / public; all cash)

Agilent / J&W Scientific: $45M (public / private; all cash)

Inhale Therapeutics / Shearwater Corp: $170M, (public / private; stock + cash)

GTI / Perlegen Sciences: $ undisclosed (private / private; all cash)

J&W Scientific / Unimetrics: $ undisclosed (private / private; all cash)

Concordia / Pinnacle Biologics US Corp: $60M (public / private; all cash)

Dermatology Company divested to Large Pharma: $ undisclosed (private / public; all cash)

$2B+ in public and private financings and non-pharma M&A

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Our team brings an impressive deal portfolio with Billions of dollars

in International transactional experience:

MERGERS, ACQUISITIONS & DIVESTITURES

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Mergers, Acquisitions & Divestitures

Willow Tree Provides:

Corporate Strategy, due diligence, and valuation services needed to empower

transactional goals

Sell Side - Anonymous searches for strategic buyers for optimal asset monetization

Buy Side - Anonymous searches for acquisition targets aligned with company’s

growth strategy

Commercial and strategic experience in the healthcare sector to facilitate the buy or

sell process for:

• Ongoing Entities

• IP Portfolio Monetization

• Mature Product Lines

• Capital Asset Sales

• Facilities & Other PPE

• Cross-border Transactions

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STRATEGIC CONSULTING

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Strategic Consulting

Willow Tree’s principals are former business executives with entrepreneurial,

Fortune 500, capital markets and life science expertise. We provide

comprehensive consulting services, including:

Company & Asset Valuation

Pipeline & Product Review

Clinical & Commercial Strategy

Life Cycle Management

Strategic & Tactical Business

Planning

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Willow Tree provides its clients with stand alone consulting services or as

part of a actionable strategic plan for future divestitures, licensing or M&A

transactions.

LICENSING

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Product & Technology Licensing

Licensing strategy development at all

development phases

Out-licensing collateral preparation

Targeted asset search and in-licensing

License valuation and structuring

Term sheet and contract development,

negotiation and execution

License Portfolio Management Service

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Willow Tree’s principals have significant experience as corporate and research

institution licensing executives.

Experience and ability to identify the appropriate asset/licensor for each client,

among the numerous and broad licensing opportunities available. The team has

notable skills in:

CAPITAL MARKETS EXPERTISE

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Capital Markets Expertise

Investor Roadshows

Arranging global financing

syndicates for:

IPOs

Secondary Offerings

Private Equity

RTOs / CPCs

Debt Financing

Mezzanine Financing

Structured Products

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Willow Tree executives have financed Billions in debt and equity for public

and private corporations. They have provided the following capital

markets services:

THE WILLOW TREE CORE TEAM

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The Willow Tree Core Team

Cathy Miner, BA/BPHE; Managing Partner

Rich Goodman, JD, MBA; Managing Partner

David Young, MSc; Managing Director

Kevin Cooksy, DiplSc, JD, MBA; Managing Director

David Murayama, MBET; Business Strategy and Operations Manager

Dr. Firhan Malik, PhD, MSc; Business Development

Michael Pettigrew, BASc; Business Development

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Willow Tree Core Team Bios

Cathy Miner, Managing PartnerBA / BPHE

Cathy Miner has over 25 years of Fortune 500 and

entrepreneurial business experience. In 1999 Cathy

founded Vital Science Corp. and developed the skincare

line dermaglow™. This company was eventually targeted

by and sold to Valeant Pharmaceuticals in 2010. At the

time of the sale, dermaglow™ was selling in retail outlets

throughout Canada, France, Sweden, Finland, the Middle

East and Greece.

Before founding Willow Tree Capital (WTC) in 2013,

Cathy worked at Distinct Capital Corp. as Managing

Director where she provided investment banking services

including M&A, corporate finance and business

advisory. Ms. Miner’s experience includes extensive

experience in acquisitions, licensing, divestitures,

negotiations and fund raising. Represented WTC with

LOIs and Term Sheets in excess of $7B.

Ms. Miner has received many awards over the years for

her outstanding business performance. Ms. Miner is an

Honors graduate at Queen’s University.

Rich Goodman, Managing Partner JD, MBA

Rich Goodman is a capital markets professional that has

participated in billions of dollars of financings and M&A

transactions in numerous sectors, including life sciences,

technology, resources, consumer products, agriculture,

aerospace and industrial. He has provided transactional

advice to his corporate clients for over two decades.

Prior to joining Willow Tree, Rich was Head of Investment

Banking at Octagon Capital – advising clients on financings,

IPOs, acquisitions, asset sales, valuations, and corporate

strategy. Prior to that, he practiced securities law at

McMillan LLP, providing legal advice on corporate financings

and M&A transactions.

Rich holds a Juris Doctor (JD) from Western University,

Masters in Business Administration (MBA) from the Richard

Ivey School of Business, and a Bachelor of Arts (BA), major

in Economics, from York University. He is a member of the

Law Society of Upper Canada.

[email protected] [email protected]

416.569.5105 416.399.4225

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mailto:[email protected]


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David Young, Managing Director

BSc, MSc

David Young has a diverse background in the

biotechnology and pharmaceutical industries over the

last 25+ years; including R&D, manufacturing, sales and

business development. As the Sales Manager for a

leading Canadian biopharmaceutical company, he

developed a global client base in North America, Europe

and Japan and helped to build them into a leading

player in the biopharmaceutical CMO market. As the

National Sales Manager in Canada for this company, he

helped to grow their HepaGam B product into a market

leader and also to expand their market-leading WinRho

product into a new indication.

At Willow Tree, David has run the process to find

licensing partners, negotiating termsheets, research

agreements and licensing deals with buyers. David also

led projects for licensing and divestiture of oncology

assets, manufacturing facility divestitures and consulting

for pharmaceutical product development.

David studied Biochemistry at Queen’s University,

earning a BSc and an MSc. The focus of his Masters

work was protein biochemistry and molecular biology.

Kevin Cooksy, Managing Director,

JD, DiplSc, MBA

Kevin Cooksy brings over twenty years of experience as

a life sciences and biotechnology industry executive,

serving in leadership roles in global business

and corporate development. Kevin’s transaction

portfolio, which exceeds a billion USD, includes buy

and sell M&A, complex licensing, and IP portfolio

optimization for diverse entities in the drug engineering

and drug delivery, medical device, and biologics

segments. Kevin’s experience with publicly-traded and

private entities includes, among many others, Agilent

Technologies’ acquisition of Stratagene Corporation, a

premier reagents manufacturer, and Inhale

Therapeutics’ acquisition of Shearwater Corporation, a

leader in molecule enhancement for improved drug

uptake and life cycle management.

Kevin holds a BSc from Northern Illinois in chemistry

(honors research), a DiplSc in Translational Medicine

from the University of Edinburgh School of Medicine

(distinction), an MBA from Lake Forest College (finance,

high honors), and a JD from the University of the

Pacific’s McGeorge School of Law (moot court honors).

[email protected] [email protected]

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David Murayama, Business Strategy & Operations Manager

BSc, MBET

David has extensive experience in international relations. David was actively engaged in consulting for CPP, a biotechnology

company under MaRS Innovation, while in the MBET program at Waterloo. Prior to the MBET program, he worked at the

Permanent Mexican Mission to the United Nations within the green economy sector as well as his own sports-focused social

network startup.

David received a BSc in Economics (International Econ.) from Suffolk University in Boston and a Masters of Business,

Entrepreneurship and Technology (MBET) from the University of Waterloo.

Dr. Firhan Malik, Business Development Associate

BSc, MSc, PhD

Firhan has over 10 years of experience in academic

research, and 8 years as a graduate student researcher in

the University of Toronto’s Faculty of Medicine. He

studied cystic fibrosis and congestive heart failure at the

Hospital for Sick Children, the Heart and Stroke Richard

Lewar Center in Excellence, and the MaRS Discovery

District. Firhan has extensive knowledge in the use of

novel therapeutics (e.g., orphan drugs) in cell models, and

the scale up of these therapeutics into animal models.

Firhan received his BSc (Honours) in Biochemistry from

Laurentian University, and his MSc in Biochemistry and

his PhD in Physiology at the University of Toronto. His

work has been funded by the Natural Sciences and

Engineering Research Council (NSERC) of Canada.

Michael Pettigrew, Business Development Associate

BASc

Michael brings expertise in biomedical engineering and the life

sciences to Willow Tree. He has held research positions in the

fields of synthetic biology and neural engineering, and

received a number of awards during his studies at the

University of Toronto for both his research and academics.

Michael is a co-founder of a company that develops

automated laboratory instruments to measure cellular lifespan.

He developed the company’s patent-pending technology.

Michael has a deep understanding of science and what it

takes to invent, build a company, raise capital and out-license

the technology.

Michael received an Honours BASc in Biomedical Engineering

and an Engineering Business Certificate from the University of

Toronto.

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Contact Us:

www.willowtreecapital.com

Cathy Miner - Managing [email protected]

Rich Goodman - Managing [email protected]


Consulting

Due DiligenceCapital Markets

Financial Valuations

http://www.willowtreecapital.com



Willow tree capital presentation july 2015

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