light sensitive remedies for pharmaceutial & industrial applications Career Choices Presentation 12 th November 2004

Overview  Overview of Photopharmica and Current Position  Brief Career History  Illustration of key decisions to Current Position  Choices and how they were made  Pitfalls, Highs and Lows of Key decisions

Photopharmica  Idea conceived at University of Leeds  Technology base company  Commercialising University Research “from bench to clinic”  Based on Photodynamic therapy, light activated drugs  Based on 15 years of research  Concept is develop two drugs to market  4 founding managers

Photopharmica  Spin-out Company, University of Leeds  Develops novel treatments for Oncology and Infectious Disease  Set up in 2001  Raised seedcorn capital 2002, £250k  Raised £3.5 million 2003  First company into Patients with new treatment in infectious disease.

Role  Founding managers - Responsible for strategic, financial and HR management  Individual Role as Business Development Manager - Responsibility for Marketing, Licensing, Intellectual Property, Business Planning, Raising Finance

Skills required Writing business plans Understanding patentability and freedom to operate issues Understanding Legal documents Project management skills Understanding accounts Raising finance

Career History  PhD  Postdoctoral Research Fellow  MBA  Business Development/Technology Transfer  Founder/Business Development Photopharmica

Three Key Choices  Choosing to “leave the bench”  Next Career move  Choosing to become a founder of Photopharmica Cover: -Options available at time of decision -Inspiration, when and how -Where information came from -High and Low of each choice

Leaving the Bench  Inspiration - Manager setting up his own company - Watching others commercialise technology  Choices Available - Join large corporate, gain commercial experience - MBA, patent agent, Law

Leaving the bench -Information - talking to others -Journals such as New Scientist and Nature -Career Fairs -Case Studys -Mentor (somebody who had done this before)

Challenges and Benefits -Giving up full time employment -Leaving Canada -Giving up research -Starting new career path -Learning new skill

Next Career Move  Inspiration - Work experience  Choices Available - gain commercial experience first - join TT office directly

Challenges and Benefits  Finding a position without commercial experience  Steep learning curve despite re-training  Realisation that choice was right

Starting Photopharmica  Original reason for changing career  Believing in company  Strong working relationship with team  Chance to start something that I could share in

Challenges and Benefits  High risk business  Leave permanent job  Work for reduced salary  Due diligence  Tied in for number of years  Gain broad experience quickly  See research technology having real benefit

Where Next  Committed to Photopharmica until exit  Likely to go back and start another company