cebr 1st incubation sig 2
TRANSCRIPT
Heraklion_14_September_2007
1
www.toscanalifesciences.org
Heraklion_14_September_2007
2TLS Foundation
Toscana Life Sciences Foundation was established in Siena two years ago by different public and private subjects, with the aim of supporting research activities in the field of life Sciences and, in particular, fostering the development of projects from basic research to industrial application in the field of Life Sciences
The TLS final mission is to trigger the technological and
industrial development and improve job and wealth creation
in the Tuscan Region
Heraklion_14_September_2007
3
Toscana Life Sciences
Regional UniversitiesPublic Administration
Local Financial Institutions
Strengthening the value of research
Territory
Industrial development
TLS mission
Heraklion_14_September_2007
4Founders
Heraklion_14_September_2007
5
Germano CarganicoGeneral Manager Andrea Paolini
Administration
Ilaria Niccolai Administrative Assistant
Francesco Refi Infrastructures/ IT
Francesco Maria Senatore Business Development
Letizia Sensini Comunication
Cristina Tinti Scientific Affairs
Laura Salvini Technology Facilities
TLS Foundation boards and staff
Founders Board
Executive Board
Scientific Advisory Board
Heraklion_14_September_2007
6
Sustain applied research in the biomedical
field, with a major interest versus socially
relevant pathologies
The Tuscan Institute for Neglected Disease
Develop the cluster by attracting companies
operating in the pharmaceutical/biomedical field
The bio-incubator and the science park
TLS – Activities
Heraklion_14_September_2007
7TLS project chronology
TLS foundation’s establishment
TLS operations begin
1° Call for Incubation
Restructuring of Bio-incubator starts
First project selection
The Bio-incubator is inaugurated
First two companies start operations
December 2004
September 2005
December 2005
February 2006
July 2006
November 2006
March 2007
Other two companies move in December 2007
Heraklion_14_September_2007
8
Total surface area: 83.000 sq. mt.
Total buildings surface: 38.400 sq. mt.
Labs (research/devel./Q.A.): 8.200 sq. mt.
Production plants: 6.800 sq. mt.
Warehouses: 2.800 sq. mt.
Offices:
8.400 sq. mt.
Services: 4.700 sq. mt.TLS bio-incubator and Sienabiotech
Industrial and academic research activities
Center of excellence for Novartis Vaccines
More than 400 researchers
Common facilities, services and utilities
Location: Siena - “Torre Fiorentina” Novartis site
Heraklion_14_September_2007
9TLS bio-incubator
Heraklion_14_September_2007
10TLS bio-incubator – facilities
1st stage. July 2006, 1.700 sq. mt.
5 Modules (lab + offices) of 90 sq.
mt. 3 Modules (lab + offices) of 60 sq.
mt. PCL3 lab, analytical, NMR, animal
house facility, cell culture lab, etc Common services (reagents,
solvents, stockroom, etc)Offices Reception, meeting rooms
2nd stage. Fall 2008, tot 3.000 sq. mt.
Heraklion_14_September_2007
11TLS bio-incubator - funding
Total initial investment: 12 M € (restauration of
the building / technological facilities)
Infrastructures & equipments co-financed (60%)
mainly by public grants
Yearly running costs: 3.5 M € (60% covered by
space rental and provided services)
Heraklion_14_September_2007
12Positioning the TLS bio-incubator
Monothematic : pharmaceutical / biomedical drugs (no specific clinical focus) diagnostics medical devices biomedical technologies
Applied research
Development (expertise and infrastructures)
Heraklion_14_September_2007
13
Custom tailored lab spaces,
Laboratory equipment
Access to common technological facilities
General services (site maintenance and security, utilities, reception, centralized procurement,..)
Consulting services
Support for financing
What we offer - Nurturing the young projects
Heraklion_14_September_2007
14Consulting services - Nurturing the young project
Intellectual property protection
Technology transfer
Licencing
Personnel recruitment
Legal advice
Finance and fiscal issues
Product development
Business development
Marketing and communication
Identifying industrial and financial partners
Heraklion_14_September_2007
15
Preferential access to a local seed capital company (BioFund)
Consolidated relationships with several financing subjects:Regional closed investment funds (SienaVenture, ToscanaVenture)Other national investment funds (Quantica, Sviluppo Italia)Venture Capital (Sofinnova, Index, Neomed, Sofimac, LM-LS, 360°Partners, etc.)Business Angels
Establishment of theTLS Investment Advisory Panel
Support for national and international grant scouting and submission application
Support for financing - Nurturing the young project
Heraklion_14_September_2007
16Financing Incubated Companies
Involvement of the local “seed capital” company (BioFound)
and local funds
3-year financing (extension to 5 years)
Private Equity scheme (majority to the financial investors) with
increasing quotes for the promoters mainly linked to research
milestones
Attraction of further investors
Heraklion_14_September_2007
17BioFound
Seed capital company” established by MPS Foundation, MPS Bank, Finanziaria Senese di Sviluppo and Fidi Toscana
BioFound will act preferentially as co-financing partner acquiring equities of the start-ups facilitating a second investors entryFinancing range over 3 years: 1-3 M Euro
Very flexible Private Equity investment scheme:
Minority participation to the company capital (under 49%)low rate of return expectedMedium/long term exit strategy
Heraklion_14_September_2007
18First round financing
Heraklion_14_September_2007
19Second round financing
Z- Cube
Heraklion_14_September_2007
20
The biotechnology industry is steadily growing
The Italian biotech industry is growing and catching up with the European standard
There is a strong biotech tradition in Siena
There is a relevant academic setting (high level of scientific production)
The development of the biotech sector is supported by local and regional government
Business incubators in the EU make a significant contribution to job and wealth creation (Benchmarking of Business Incubators, EC Enterprise
Directorate General, February 2002)
Major reasons for establishing the bio-incubator
Heraklion_14_September_2007
21
19
Tuscany Cluster
The cluster is home to:
19 Biotech companies,10 of which born since 2000
14 Global Biotech & Pharma research centers active in clinical trials
55 Biotech/Pharma locations of Manufacturing, Research and Administration
3 Universities areas (more than 7.600 graduates in technical e scientific
fields in 2004)
78 Hospitals involved in clinical trial (with an average of 23 trials per
organization)
1.029 Clinical trials (excluding phase I) conducted in the period 2000-2004
Total = 19
Number of Biotech Companies by Sector 2004
Tuscany: a strategic research location
From “Invest in Tuscany – Biotechnology Report 2006”
Territory:• Inhabitants: 3,6 millions• Population density: (163 inhabitants/ sq.km)• Surface 2.992 Km
Heraklion_14_September_2007
22Bio-incubator - mission and goals
MissionSupport the birth of new entrepreneurial activities in the biomedical and pharmaceutical fields in order to reach a critical mass for the generation and self sustainment of a biotech cluster in the Tuscan Region
GoalsExploit the know how generated in the regional academic settingSustain company, academic spin off and start upAttract entrepreneurial activities in the biotech sector from other regions
Heraklion_14_September_2007
23
The TLS incubator is open to start-up, spin-off and recently set-up companies (less than 3 years old) wishing to relocate
Applicants must have a sound business idea, a consolidated research history in the field and preferentially, a previous collaboration with industry
The agreement will be for 3 -5 years. The rental expenses cover the lab space, utilities and general services
Once companies are mature they can move to an industrial area close to Siena (master plan in progress)
TLS will still provide consultancies and facilities for the developmental phase
Access to the TLS bio-incubator
Heraklion_14_September_2007
24The deal -flow
International Call for Application
Scouting
Tight relationship with the TTO of the Tuscan universities
Business plan submission
project selection (quality as guiding criterion)
TLS Executive Board approval
Incubation
Finding start up financing
Heraklion_14_September_2007
25Selected companies
Company Project
1. Molteni spin-off
2. Toscana Biomarkers
3. AxaPharm
4. Externautics
5. SienaGen
6. Rasna
7. SetLance
8. Gladium
Photodynamic antimicrobial therapy
Diagnostics for autoimmune diseases
Pain treatment and new antipsychotics
New targets for oncology and autoimmunity
Degenerative diseases (VEGF-D biology)
Cocaine addiction treatment
Branched peptides for tumor targeting
Cancer vaccines
Heraklion_14_September_2007
26Features of the first 8 selected projects
Coming from: Siena, Firenze, Pisa, Milano, San Diego, Copenhagen
Mostly academic spin-off (6)
Previous licensing-out experience (3)
Presence of an industrial partner (3)
Previous experience of spin-off / start-up process (4)
Proprietary technology platform (3)
Intellectual property assets (7)
Heraklion_14_September_2007
27TLS science park companies
AxaPharmAxaPharm
Externautics
Heraklion_14_September_2007
28Unmet needs
Available managers trained in the pharma/biotech sectors
Courses of entrepreneurship for young scientists
More high risk financing subjects
Business intelligence activities
Heraklion_14_September_2007
29TLS bioincubator peculiarity
Highly customized lab setting
Lab equipment for 200.000 euro
Technology facilities
Well developed consultant’s network
Attracting environment