bioentrepreneurship: effective communications - selling your story

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MaRS BioEntrepreneurship Series Event, June 12, 2007 Speaker: Wayne Schnarr, Senior VP, Life Sciences, The EquicomGroup More information including a video:


  • 1.effective communicationsselling your storyWayne SchnarrMaRS Senior VP, Life Sciences BioEntrepreneurship The Equicom Group June 12, 2007Forward-looking statement Certain information included in this document is forward-looking and issubject to important risks and uncertainties. The results or eventspredicted in these statements may differ materially from actual results orevents. For additional information with respect to certain of these andother factors, see the reports filed by the various companies mentioned inthis presentation with the Securities Commissions of Ontario, Alberta andBritish Columbia. These companies disclaim any intention or obligationto update or revise any forward-looking statements, whether as a result ofnew information, future events or otherwise. This document does notconstitute an offer to sell or a solicitation of an offer to buy securities inthe United States. No securities have been registered under the UnitedStates Securities Act of 1933, as amended or any state securities laws. 1

2. always remember what are YOU sellingto whom are YOU sellingwhat is the sales processnever stop selling 2 3. you are sellingor you are on the receiving end of sales pitchesevery day giving lectureswhat are you sellinginformation, passion, ability to thinkto whom are you sellingthe students in the chairswhat is the sales processlectures plusnever stop sellingor they fall asleep or dont attend3 4. writing grant proposalswhat are you sellingyour intellectual capabilitiesto whom are you sellinggranting agencieswhat is the sales processannual submissionsselling never stopsunfortunately not selling your story tothe financial community &the health care industry4 5. the financial communitywhy do people invest in biotechnology companies? to make money!how do VCs make money from investing in biotechnology companies?through an IPOthrough sale of the companynobody invests in early stage biotechnology companies for a 10% ROI you have to show them the 10-bagger - Michael Denny biotech investors buy growthbased on the current and future sales of products andservicesapproved products growth of sales and earnings no approved products progress in preclinical and clinical development independent product validation by partners 5 6. biotech investors balance risk and rewardrewardmulti-billion dollar marketfirst-in-classbest-in-classcureriskmarket riskclinical riskscientific risk biotech investors balance risk and rewardreward what are you selling? a potential reward that justifies the current valuation a potential reward that is large enough to allow anIPO or M&A transactionrisk what are you selling? you are NOT selling a risk-free opportunity that you clearly understand the scientific risk that you can mitigate the clinical risk that you understand the market risk6 7. effectivepresentations: PowerPoint 101PowerPoint is on yourcomputer which does not mean that you are an expert atcreating presentations.7 8. powerpoint 101 the presentation should: be there for the audience, not for the presenter be useful for multiple audiences be useful both on the screen and as a handout not contain every piece of information that is inyour business plan be about 30 slides for a general audience orintroductory meeting have a consistent format, colour scheme and font be talked to or about, not read use appropriate animal and human pictures some slides transmit information critical slides SELLneed expressed: what is the hunger?how big is the hunger?no big hunger no one cares 8 9. need expressed what is the hunger? what is the specific disease or medical condition is there a specific subgroup that is being targeted what are the currently approved drugs, if any, and what are their deficiencies what is the unmet medical needhow big is the hunger? be realistic not every potential patient gets diagnosed ortreated use patient numbers from independent sources use sales of currently approved drugs whereapplicable Real-time Cardiac Imaging System Opportunity and Unmet Need 400,000 CABG procedures annually 10 to 20% complications: expensive and life threatening StentGraft 7,000 TMR procedures Potentially 30,000 with SPY SystemJAMA report on graft failure Up to 30% of vein grafts used in heart bypasssurgery fail at one year or less100%1 million patients (RRMS) SecondaryFew patients treated of Blockbuster Progressive MSmarket>1 million patients (SPMS) potential 35 MS has Two Major Markets TSX:MSUS$5.8B Approved Products Relapsing Biogen Idec: Avonexcurrent Remitting MSBayer Schering Pharma AG: Betaseron Teva: Copaxonemarket (RRMS)Merck Serono S.A: Rebif Biogen Idec/Elan: Tysabri Secondary Approved ProductsBlockbuster Betaseron (No proven delay in Progressive MSprogression, only approved withmarket relapses) (SPMS) potential Novantrone (Cardiotoxicity limits use to 2 3 years) 3618 19. BREAKING THROUGHAF Incidencearrhythmias1 in 4 adults will get AF (age 40+) 6 millionpatients in the worldAnnual incidence: 700,000* Wang et al. Circulation: Journal of the American Heart Association. August 2004. BREAKING THROUGHCurrent treatment drawbacksdrugs heat ablation used in 15% 1 leads to chronic heart failure 2>20%3leading cause of hospitalizations 415,000 (U.S.)4cost to healthcareUS$6.6 billionno practical solution! * Donald M Lloyd-Jones, Md, ScM, FACC. Medscape Cardiology 8 (2). 2004. AF Business OpportunityUntreated Pool New Cases/Year2.2 million 160,000 >$2 Billion Annual Business Opportunity2.1 million 145,0004.3 million 305,00020 21. need addressed:solution tothe hunger -the value proposition need addressed what is your product? type of drug, device, diagnostic what is the mechanism of actionwhat is the value of your product? the value is in the data human data is more valuable than animal data if you have human data, eliminate or minimize the animal data consider the audience when assessing the complexity and presentation of the data being used 21 22. Neuradiab Survival DataClinically compelling difference 42%91 Surgery + Radiation + Temozolomide + Neuradiabweeks 642005 Surgery + Radiation + Temozolomideweeks 1980 53 Surgery + Radiationtoweeks20040 1530 45 607590 105 Survival in weeks43iCo007for the treatment of DME 22 23. iCo-007: Method of Action (MOA) - VEGF Plus Growth factorsinitiate signal VEGF HGF EPOc-Raf RetinaSignal through c-Raf 45iCo Therapeutics | IPO presentation | iCo-007: MOA - VEGF Plus Growth factorsModulate signalRetinaiCo-007 inhibits the production of c-raf, therebypreventing the signaling of growth factors, which inturn prevents the production of new andpermeable blood vessels46iCo Therapeutics | IPO presentation | 23 24. iCo-007: MOA - VEGF PlusThe production of c-Raf The inhibition of c-Raf Signal pathwaySignal pathway interruptediCo-007 mRNA ribosomeInhibits c-Raf production which prevents cellgrowth and permeability 47 iCo Therapeutics | IPO presentation | Preclinical Evidence: Inhibition of c-Rafc-Raf immunostaining % Saline Controlof porcine eye 120100 Control 8060 4020 107189Treated0D7 D7D14Saline 34g 180g 180g 48 iCo Therapeutics | IPO presentation |24 25. Preclinical Evidence: Inhibition of new blood vessel growth in mouse eyeSaline 14g ISIS 15770 49 iCo Therapeutics | IPO presentation | Preclinical Evidence: 3 month dosing achievable Half life 44 days Single intravitreal (90 g)injection50 iCo Therapeutics | IPO presentation |25 26. MBP8298: OverviewTSX:MS Only novel agent for SPMSIndications: SPMS & RRMSin Phase III trialsSynthetic peptide forDesigner drug specific responder group(up to 75% of MS patients)Epitope-specific tolerance, notUnique mechanism general immunosuppressantConvenient administration IV push every six monthsDelayed median time to progressionLong-term efficacy* for 5 years in responder groupSide effect: minor injection siteVery safe* irritation * Based on previous clinical trial resultsTSX:MS MBP8298 slows the progression of MS52 26 27. MBP8298: Drug discovery/development for progressive MS TSX:MS Analysis of CSF autoantibodies guided development RRMS: Autoantibodies detectable only during relapse events SPMS/PPMS: Autoantibodies continuously present useful indicator of drug effectDrug concept: Induction of antigen-specific tolerance Observed in early vaccine development High dose intravenous administration of soluble antigenMBP8298 was designed to replicate the most common antibody target IV administration suppressed CSF autoantibody levels in most patients HLA-DR2-restricted T-cells target the same sequenceHLA-DR genes Direct the fine specificity of immune responses HLA-DR2 and -DR4 predispose to MS and make up the majority of patients Easy genetic test for HLA type MBP8298 Replicates the Myelin TargetTSX:MST-cells & B-cells from immune system attack 82-98 portion of 1 myelin in HLA-DR2 (and other) patients MBP829817 amino acid peptideIdentical to the natural sequenceBlood Brain Nerve Fiber Blood Vessel Barrier 27 28. MBP8298 Treatment Induces Tolerization TSX:MSClassic TolerizationPrinciple: 2 500mg dose every sixReverse of vaccination monthsEstablished in vaccineresearch 50+ years ago Shown to cure or preventEAE animal models of MS MBP8298 synthetic peptide identical to dominant site of immune attack Blood Vessel Blood BrainNerve FiberBarrier Immune System is Tolerized TSX:MS Tolerization Result:Eliminates antibodies to 3 MBP8298 for six+ monthsRequires dose every six monthsClinical delay in disease4 progression Blood VesselBlood Brain Nerve Fiber Barrier 28 29. Published Efficacy ResultsTSX:MS Long-term follow-up treatment and assessment of patients in this responder group showed a median time to progression of 78 months for MBP8298 treated patients compared with 18 months for placebo-treatment (KaplanMeier analysis, P = 0.004) Five Year Delay in ProgressionTSX:MS 100 Phase II Trial: Kaplan-Meier Analysis of HLA-DR2 and/or DR4 80% Not Progressed patients at 84 Months 6040Endpoint: Time to 1st confirmed Placeboprogression