Who are we? MS Ventures is the global corporate VC arm of Merck Serono MS Ventures MS Ventures strategic fund: €110m Entrepreneur Partnership Program: €30m Israel BioIncubator Fund: €10m 1 Decision making process 2 ”Project scoring”-table 3 (Medical) need Yes No Proprietary Yes No Differentiation Yes No People Personality Track Record Incentives Potential Market size Competition Pricing / margin Timing Time to market Penetration rate Exclusivity Risk Development Regulatory Market Cost structure Development Inflection points Commercial Where to find us www.ms-ventures.com 4 Backup slides Merck Inhouse Consulting MS Ventures investment strategy Pharma focus on products, allowing biotech creativity and speed Strategic assets Top tier syndicates Critical path to commercial relevance A –Teams; Management, Board & SAB Emphasis on business development Hands on board support Tactics follow asset strategy Interim C roles where needed P A R E N T 6 Leverage RD expertise for “wet due diligence” Nurture assets through active R&D involvement Offer access to manufacturing, screening capabilities etc. at cost, at risk and/or in exchange for equity Front-row seat, early due diligence, preferred relationship Foster corporate entrepreneurship within Merck Catalyze exchange and creation of novel of ideas P O R T F O L I O MS Ventures Global Team Roel Bulthuis Hakan Goker Edward Kliphuis Managing Director Director Associate roel.bulthuis@ms- hakan.goker@ms- edward.kliphuis@ms- ventures.com ventures.com ventures.com AMSTERDAM AMSTERDAM AMSTERDAM Jasper Bos Alicia Irurzun-Lafitte Director Associate jasper.bos@ms- alicia.irurzun-lafitte ventures.com @ms-ventures.com GENEVA BOSTON Nilesh Kumar Simone Botti Laila Gharzai Director Head of Israel Analyst Incubator Fund 7 nilesh.kumar@ms- simone.botti@ms- laila.gharzai@ms- ventures.com ventures.com ventures.com BOSTON TEL AVIV AMSTERDAM MS Ventures at a glance Investing in Innovation MS Ventures strategic fund: €110m MS Ventures Entrepreneur Partnership Program: €30m Israel BioIncubator Fund: €10m 8 MS Ventures is an active early stage investor Hands-on approach to the building of companies Top 20 early stage VCs 2012 - 20131 Investor MS Ventures* OrbiMed Advisors Novartis* Novo A/S* Third Rock Ventures Polaris Venture part. MPM Capital 5AM Ventures SR One* Atlas Venture Flagship Ventures Sofinnova Ventures New Enterprise Canaan Partners Fidelity Pfizer Inc.* SV Life Sciences Hatteras Venture Abingworth mgmt Connecticut Innov. # 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 9 1 2 Financings 11 10 9 9 8 7 7 7 7 6 6 5 5 5 5 5 5 5 4 4 Total ($m) $71.2 $158.5 $188.0 $157.9 $274.2 $114.9 $136.0 $195.0 $114.0 $44.2 $173.5 $190.5 $135.9 $113.5 $80.4 $128.4 $86.7 $57.0 $119.3 $8.5 Number of Seed- and Series A investments completed in 2012 and 2013. Source: BioCentury BCIQ Source: PwC Moneytree 2012; NVCA; numbers are for all Life Sciences deals, inc. diagnostics and agro Strategic investors Average ($m) $6.5 $15.9 $20.9 $17.6 $34.3 $16.4 $19.4 $27.9 $16.3 $7.4 $28.9 $38.1 $27.2 $22.7 $16.1 $25.7 $17.3 $11.4 $29.8 $2.1 MSV supports portfolio companies directly and through continued interaction with relevant Merck Serono experts Takes an active role in the refinancing processes of our companies Financing plans are structured around the critical path towards proving commercial relevance Aims to define relevant datapoints on that path as a basis for refinancing decisions Places significant emphasis on the quality of our management teams, Boards and Scientific Advisory Boards and dedicate a significant amount of our time to finding the best candidates for these positions MSV financing checklist Focus on differentiation, need and people Unique science Proprietary technology Differentiation Commercial relevance Medical need Risk People Pricing model 10 Show me that…my product works better Really? How? Better than what? Better efficacy? Better safety? How can I test that? When can I test that? Will I be rewarded for it? 11 Move to trash „This mechanism is unique, biologically“ „We see no side effects at all“ „Lowering COGS of mAbs in the ONC field significantly“ „We can significantly reduce the risks of drug development“ „My professor has been working on this for 20 years“ „We‘re the only ones in the world, there is no competion“ „We have a highly specific siRNA, just need to solve delivery“ 12
© Copyright 2024