Collaborate your way to success René van der Merwe Senior Director, Clinical Development 21 September 2017

Cambridge Cluster Statistics* Companies in knowledge-intensive industries Companies created in the last five years Space to grow at Cambridge Biomedical Campus World’s largest corporations with operations in Cambridge Registered companies and revenue Patents compared to the next city 20,000 X 30% 105 14 25 £30 bn Wembley Arena *Malcolm Lowe-Lauri

New world is innovation and collaboration Knowledge Experience Partnership Innovation does not happen in isolation Foster beneficial partnerships Don’t reinvent the wheel Tap into the network of experience and knowledge Identify what resources you need and seek partners to help Even big pharma needs to collaborate e.g. MedImmune/Amgen collaboration

Are you ready to collaborate? Administrative support Workspace Part vs full time workforce Accounting  Basic business infrastructure Hiring Training  Human resource (support) Business Development… Intellectual Property Contracts  Legal (support) Basic business infrastructure  Administrative support Workspace Part vs full time workforce Accounting Human resource (support)  Hiring Training Legal (support)  Intellectual property Contracts Business Development …

What is your framework? Vision Strategy Execution

What are you offering? Why should they collaborate with you? You have a unique product that is scientifically validated Your product or technology can cause disruption to competitors You have identified a niche market that is being missed elsewhere You can get your product to customers before someone else does Be prepared to align with potential partners strategy, vision and goals Look for opportunities Realise in most cases it is a transaction to them (but can be life or death to a biotech) Does it fit with your vision?

Be clear on how your product adds value Serves an unmet medical need or patient population Does it give them a competitive advantage or enhance their current capabilities? Give a time frame for return on investment Personalise your pitch to their needs Patient focused/value Unmet need ZS pharma & hyperkalaemia Competitive advantage – eg LEO

Know your collaborator Understand what type of collaborator are you looking for Financial Scientific input Executional skills e.g. R&D capabilities Do you have the same vision and goals for future development? Partnership is a 2 way street (it is not just about the money) What do you want the partner to bring to the table? Investment Experience in areas you lack/Expertise in future development Resource Partnership is a 2 way street (it is not just about the money) e.g. CRUK-Medimmune Alliance Laboratory (CMAL)

A good collaborator adds value Opportunity Vision Vision Access to resources Distinctive Competencies Capabilities of team Strategy Innovation or novelty Business Strategy Industry context Execution Talent Structure Processes Profitability

Factors to success that are local to Cambridge Talent pool Infrastructure of support Venture capital Entrepreneurial spirit Role models and mentors Talent pool Loyalty to the technology with a unique highly skilled and highly motivated Social networks of people Diverse Support infrastructure with suppliers and outsourcing Venture capital for both financing and team building Entrepreneurial spirit Role models and mentors (with networks, confidence and paranoia)

You are collaborating, now what? Manage expectations Understand large pharma governance Identify decision-maker Allow time for decision-making Ensure open lines of communication Identify an internal champion Identify and update key stakeholders Be resilient Be prepared to terminate Identify decision maker Manage expectations Understand large pharma governance structure Allow time for decision making in large companies Identify an internal champion Ensure open lines of communication Identify key stakeholders and keep them updated with regular feedback and detailed updates Be prepared to terminate collaborations if not working Be resilient…don’t give up!

Any Questions?

Who are entrepreneurs? Internal locus of control, High energy level, High need for achievement, Tolerance for ambiguity, Self-confidence, Passion and action-orientation, Self-reliance and desire for independence, Flexibility Growth pressures: Entrepreneurs often find that as their business grows, they feel more pressure to use formal methods to lead their organizations. Although this formalization process may compromise some entrepreneurs spirit, it often leads to more focus, organization, and greater financial returns. Basically, it’s a movement from a “seat-of-the-pants” operation to a more structured, legitimate and recognizable business.