1. No category

Sarsia Seed I / II
Sarsia Seed Management
Erlend Skagseth / Sveinung Hole
LMI November 2015
Endelig
Sarsia Seed Management - Confidential
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1. Sarsia Seed I
2. Sarsia Seed II
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Vi unngår det åpenbare så langt vi kan – spør heller!
Sarsia Seed Management - Confidential
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Sarsia Seed Management - Confidential
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Sarsia Seed – Early stage Fund investing
in Norwegian Life Science
Established in
2006 with
horizon until
2018 (2021)
•
Invested 222 mNOK – not much left
•
Procured 1,215 mrdNOK
•
Potential proceeds of 1,686 mrdNOK
867 mNOK procured
13 Life Science
companies
(bio/farma/
medtech/dx)
Sarsia Seed Management - Confidential
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Kapitalflyt for Sarsia Seed 2007 - 2015
(alle tall i hele millioner kroner)
Staten: Innovasjon Norge
Private investorer: Statoil,
BKK, Spare-banken Vest,
andre
333,5m Kommittert ved
oppstart i 2006
Påfyll fra private i 2015
182
167
349
FoU-tilskudd: EU, Innovasjon Norge, Norges
Forskningsråd, Statoil,
Miljøteknologiordningen, Industri, andre
Såkornfondet:
Sarsia Seed
224
Ko-investorer: Trond Mohn, Sparebanken
Vest og 261 andre investorer fra syv land
622
373
1.219
867
(71%)
13 Helseselskaper (bio/farma/medtech/diagnose)
352
(29%)
9 Energi/marinselskaper
Sarsia Seed Management
Flow of close to 10 LS cases/quarter during period
2007-2013 of current SSF-I
7
Sarsia Seed Management - Confidential
Sarsia Seed Fund I - Portfolio status
Five companies in - or in final preparations for clinical trials- partnering and financing.
• BERGEN BIO
– Discovery Platform/Cancer Resistance Therapy PIb AML and NSCL
• AVEXXIN
– Anti-Inflammatory Therapy- POC in Pase I/IIa in Psoriasis
• VACCIBODY
– Platform Therapeutic Vaccine Therapy-Phase I Cervical Cancer
• APIM THERAPEUTICS
– Peptide Cancer Combo Therapy – IMPD ready
• PROPHYLIX PHARMA
– Orphan - Immunotherapy against Thrombocytopenia in newborn
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Conc.
Dvlpm
nt
• Inflammation
• In phase II
• ONC/EMT/resistance
• In phase I-b
• DNA-vaccines
• In phase I
Lead/
Target
ident.
Drug
Screeni
ng
Preclinical Development
Pre-clinical
Testing
Pre-IND
Clinical Development
P-I
• Anti-biotics MRSA
P-III
EXIT
PIIa
Capex total: 12 m$
EXIT
PIb-IIa
Capex total: 40 m$
EXIT
PI-IIa
Capex total: 9 m$
• Orphan against NAIT
• IND ready
• Re-sensitivization
• IND ready
P-II
FDA
Appr
oval
Capex total: 8 m$
Market
Preclinical Discovery
NDA Filing
Company
IND Filing
Sarsia Seed – Portfolio Bio/pharma (capex: 80 m$)
EXIT
PIII
EXIT
PI-IIa
Capex total: 6 m$
Capex total: 4 m$
EXIT
• Heparin from
fish-waste
Capex total:: 1 m$
EXIT
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Low
Financial gain at
Successful exit
High
Status 2012
High
Risk
Low
High
Utvikling 2012 -2015 (direkte fra porteføljerangering)
Vacci body
Av exxi n
* Ber gen Bi o
* AP IM
P r ophy l i x
Financial gain at
Successful exit
Sor bwat er
Aqui l oz
SeaF ar m
* Vol us ens e
Wi ndSi m
Low
Del ant e
i Sent i o
Genes eque
* EnSo
* Hepmar i n
High
MedSt or m
Sea- Hawk
Wey l and
* Nov el Di agnos t i cs
C10
* Bl ue L i mi t
Risk
Low
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Sarsia Seed Management - Confidential
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2
Drivere for nytt fond
High quality
DealFlow
supported by
strong macro
trends
Unique position in
underserved
market
Track Record and
Benchmarks better
than industry
average
Proven team,
network and
operational model
Sarsia Seed Fund II - på 300 til 500 mNOK
Permanent Investment Consortium
Radiumhospitalets Forskningsstiftelse
Birk Venture
(Meteva, Kreftforeningen)
Co-Investors
>200 investors from 4-5 countries
Investinor
Sarsia Seed Management - Confidential
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Historic cuts to Discovery resulted in shrunken
early-stage pipeline that need to be filled
Sarsia Seed Management AS
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Attractive development in early
value inflection
Year 2000
Year 2012-
Sarsia Seed Management - Confidential
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There is more on it’s way heading
for the revised up-front reward
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Sarsia Seed II
1. Fondet kan reises med min 300 mNOK
2. 80% av kapitalen på plass
3. Jobber for første closing i Q116 med 300 mNOK
4. Jobber for andre closing ila Q4 med ytterligere 200 mNOK i privat kapital
5. En eller flere industrielle cornerstone investorer i andre closing
6. Første investering (om planen holder) omkring sommeren 2016
Sarsia Seed Management - Confidential
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7
Relevant Deal Flow for potensielle industrielle
cornerstone investorer
* Since last new investment (2011) from current fund
† Includes immuno-oncology
18
Sarsia Seed Management - Confidential
Sarsia Seed Fund II- LS Prospect Hallmarks
BIOPHARMA
BIOPHARMA
Therapeutics
Therapeutics
Segment
Technologies
Technologies
Mechanism
Indication
77.
MEDTECH
MEDTECH
Segment
Segments
Sarsia Seed Management - Confidential
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0
Noen omrokkeringer
1. Sarsia Seed Management
2. Bergens Forskningsstiftelse
3. Sarsia Seed I
4. Sarsia Seed II
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