11 BIO-CT What we are What we are not What we are expected to do Gabriel MerguiManuel Vega Bio-C.T. Workshop Turin Feb 2010

2 Research Industry Market The Innovation process: where are we? 2 Bio-C.T. Workshop Turin Feb 2010

3

4 Industry Risk : controlled Financing: private (and public) Public Research Risk: the notion is absent or recent Financing : public scientific PoC Very scarcely, the PoC is mature enough: the industry may in-licence directly… Scenario 0 Bio-C.T. Workshop Turin Feb 2010

5 Industry or Venture Capital Take over Risk : controlled Financing: private (and public) Public Research Risk: the notion is absent or recent Financing : public scientific PoC … but in most cases there is a need for further maturation to obtain ‘industrial’ PoC industrial PoC Maturation Bio-C.T. Workshop Turin Feb 2010

6 Industry or Venture Capital Take over Public Research scientific PoC Maturation is plenty of uncertainties and risks… industrial PoC Business sense ? Market ? Clients ? Competitors ? Intellectual property ? Validation of scientific POC ?.. …In animals ? …In humans ? Prototype ? Manufacturing ? Up-scaling ? Regulatory frame ? Bio-C.T. Workshop Turin Feb 2010

7 Industry or Venture Capital Take over Public Research scientific POC …it is the so-called Death Valley industrial POC « Death Valley » Maturation Risk: very high The maturation process is not ‘spontaneous’ (Each side says: “It’s not our Job”) Bio-C.T. Workshop Turin Feb 2010

8 The objectives of BIO-CT Phase 1 : To identify appropriate Tools (human, technical and financial) available in the partnering Bio-Regions and likely to be shared in support to the maturation of innovative biotechnology projects Method: Performing a SWOT analysis for each Bio-Region to identify the human, technical and financial Tools available or lacking in each Bio-Region and their suitability for sharing between Bio-Regions. 8 Bio-C.T. Workshop Turin Feb 2010

9 The objectives of BIO-CT Year 2 : To deliver an implementation roadmap (Joint Action Plan and Business Plan) for the maturation of innovative biotechnology projects at the European level: - While maximizing the sharing of existing tools available in the Bio-Regions; - For selected projects within or without a Company; -Up to the industrial PoC (Industry take over or VC investment). Bio-C.T. Workshop Turin Feb 2010

10 Scenario 1 …in the presence of a founder entrepreneur Relies on the founding endeavor of an entrepreneur.. Is the technology / product validated enough? / Is company creation too early? Why is it so difficult for certain companies to raise VC investment? The classic model is not perfect… Bio-C.T. Workshop Turin Feb 2010

11 Scenario 1 Board of Directors Founder entrepreneur Company Private investors Scenario 2 Surveillance Committee Project leader Project (contract) “Public” financing Shared Tools Human Human + Technical (platforms, facilities, maturation instruments) Financial Tools : Scenario 1 vs Scenario 2 Bio-C.T. Workshop Turin Feb 2010

12 Basic criteria for the selection of appropriate Tools to be shared in the Project Maturation Process (Scenarios 1 & 2) Candidate Tools for sharing between Bio-Regions to be selected according to specific criteria: - Consistency with Maturation process - Excellence (Qualified, Labeled, ) - Accessibility (Technical, Legal, Financial, ……) Bio-C.T. Workshop Turin Feb 2010

13 Thanks 13 Bio-C.T. Workshop Turin Feb 2010