MONTHLY INTELLIGENCE | UPCOMING EVENTS

MONTHLY HEALTHCARE NEWSLETTER - DECEMBER 2019A GLOBAL LEADER IN STRATEGIC HEALTHCARE COMMUNICATIONSLondon | New York | Boston | San Francisco

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MONTHLY INTELLIGENCE

Shaun Grady, Senior Vice-President Business Development Operations at AstraZeneca, gave delegates a frank and insightful look at life in the top echelons of pharma management at the Consilium Strategic Communications 7th Annual Healthcare Conference.

A key highlight of Consilium’s annual conference on November 19th was listening to the thoughts and reflections of Shaun Grady, who has served under seven CEOs during his time at AstraZeneca and its precursors. As Senior Vice-President Business Development Operations at AstraZeneca, he has had a busy time in recent years. 2012 saw AstraZeneca facing the biggest patent cliff in the history of the healthcare industry, with the prospect of losing half of its $29 billion annual revenues within a five-year timeframe.

Seven years, 169 alliances and 66 divestments later, AstraZeneca has completely transformed itself. “What we’ve achieved under Pascal has been outstanding,” Shaun told delegates. The reasons are many and varied and depend on who you ask, but from his perspective there are four key factors.

The first was capital allocation. At the start of Pascal’s tenure, the Company suspended its share buyback programme. Instead, the money was spent on R&D, sending a strong signal to shareholders that investment priorities were changing. Next, AstraZeneca developed a new strategy of “being a truly science led company”. The Company then began “focusing with discipline on where we could win: oncology, respiratory and cardiovascular, renal, metabolism,” Shaun explained. Finally, AstraZeneca embarked

PATENT CLIFFS, PASCAL AND PERSPECTIVE

on a culture change. “We developed an open, collaborative, truth-seeking culture where science could thrive.” This led to key changes in the management team and the appointment of “extraordinary scientists that reported directly to Pascal”.

AstraZeneca also made the “fearless” decision to relocate its operations to science hotspots “where we could be part of the innovation ecosystem”; business development activities were reorganised and people “fluent in science” were inserted into the teams.

A central “transaction execution” team was created, which Shaun heads up. “At the time, I was in charge of search, evaluation and transaction execution, and I was disappointed with that change.” However, “it was an inspired decision.”

Shaun repeatedly flagged the importance of commercialisation in a sustainable healthcare system, which meant a reference to emerging markets “and particularly China” was vital. In 2018, emerging markets accounted for 33% of AstraZeneca’s product sales. AstraZeneca is the second largest multinational company in China with an ambitious growth rate trajectory and a goal to be number one. “It’s our largest market after the US, and the China team have ambitions to catch up and overtake the US.” The company has 17,000 employees in China, compared with around 6,000 in the UK and a similar amount in Sweden – meaning AstraZeneca is now a truly global pharma company.

You can watch a highlights video of this years’ conference by visiting the News & Insights section of www.consilium-comms.com.

INSIGHTS FROM THE CONSILIUM STRATEGIC COMMUNCIATIONS 2019 HEALTHCARE CONFERENCE

ANALYST MOVES – Arshad Ahad joined finnCap

MEDIA MOVES – Shaun Lintern joined The Independent as Health Correspondent – Jonathan Chadwick joined the Mail Online as Science & Technology reporter – Jenna Lomax joined HealthInvestor as Senior Reporter – Alex Cherrie joined ITV as Health and Science Producer – Melissa Fassbender joined Xconomy as Editor and Greg Huang resigned as Editor-in-Chief

If you would like to receive our Monday Healthcare Bulletin, which summarises all healthcare business news from the weekend, please contact: admincsc@consilium-comms.com

THIS MONTH’S MOVERS AND SHAKERS

CONNAUGHT ROOMS WC2B19 NOVEMBER

– Arvelle Therapeutics appointed Petra Molan as Senior VP Commercial, Enrico Dolfini as VP Legal Counsel and Otto Schwarz as Independent Director and Chairman of the Board

– CMR Surgical appointed Per Vegard Nerseth as CEO, effective 1 January 2020. Martin frost will remain CEO until then before transitioning to a NED role at CMR

– Khondrion appointed Arnot Ploos van Amstel as COO

– Nyxoah appointed Olivier Taelman as CEO – Ergomed PLC appointed Lewis Cameron as COO

– Orexo appointed Dennis Urbaniak as Executive Vice President Digital Health

– Abbott Laboratories announced that Miles White will step down as CEO

– ADC Therapeutics has appointed Jennifer Herron as CCO

– Arrowhead Pharmaceuticals announced that COO Bruce Given will retire, whilst Javier San Martin has been appointed as CMO and Curt Bradshaw as CSO

– Biodesix appointed COO Scott Hutton as CEO

– Circassia announced that CEO and Co-Founder Steve Harris will retire and Ian Johnson has been appointed Executive Chairman

– Collagen Solutions announced that Lou Ruggiero, CBO, and Tom Hyland, COO,

will resign from the Company Board of Directors – Concepta PLC appointed Penelope McCormick as CEO and Lyn Rees as a Non-Executive Director and announced that Matthew Walls, Chairman, stepped down with Non-Executive Director Adam Reynolds taking on the role as Non-Executive Chairman

– Endo announced that Paul Campanelli will step down as CEO

– Entasis appointed David Altarac as CMO – Genus plc appointed Alison Henriksen as CFO with effect from 13 January 2020

– Kronos Bio appointed Jorge DiMartino as CMO and Executive VP of clinical development

– LabCorp Diagnostics announced that John Ratcliff will step down as CEO

– Lonza announced that Marc Funk will step down as CEO

– Neurana Pharmaceuticals appointed Randall Kaye as CMO

– NiKang Therapeutics appointed Y. Peter Li as CEO and Board Director

– Ovid Therapeutics appointed Amit Rakhit as President and Jason Tardio as CMO

– Relay Therapeutics appointed Ben Wolf as CMO

– Sangamo Therapeutics has appointed Sung Lee executive VP and CFO

– Savara appointed Badrul Chowdhury as CMO

WE LOOK FORWARD TO SEEING YOU IN SAN FRANCISCO

AT THE 38TH ANNUAL JP MORGAN HEALTHCARE

CONFERENCE

13TH - 16TH JANUARY 2020

If you would like to receive our Monday Healthcare Bulletin, which summarises all healthcare business news from the weekend, please contact:

admincsc@consilium-comms.com

HIGHLIGHTED FUNDRAISING ACTIVITY FROM NOVEMBER TO DECEMBER 2019

COMPANY NAME AMOUNT TYPE OF FUNDRAISE COUNTRY DATE

PUBLIC COMPANY FINANCINGS

Agios Pharmaceuticals Inc. $255.8 million Follow-on US 7-Nov-19

89bio Inc. $84.9 million IPO US 11-Nov-19

Replimune Group Inc. $80 million Follow-on US 12-Nov-19

Reata Pharmaceuticals Inc. $439.2 million Follow-on US 13-Nov-19

Kadmon Holdings Inc. $88.4 million Follow-on US 13-Nov-19

Halozyme Therapeutics Inc. $400 million Private offering US 15-Nov-19

Phoenix Molecular Designs $12 million Seed funding Canada 20-Nov-19

Relmada Therapeutics, Inc. $115 million Follow-on US 3-Dec-19

Kodiak Sciences Inc. $276 million Follow-on US 3-Dec-19

Revance Therapeutics Inc. $110.5 million Follow-on US 4-Dec-19

Creo Medical Group plc £50 million Follow-on UK 4-Dec-19

Ardelyx Inc. $125 million Follow-on US 4-Dec-19

Millendo Therapeutics Inc. $25 million Follow-on US 4-Dec-19

Immunomedics Inc. $250 million Follow-on US 4-Dec-19

Athenex Inc. $60 million Private placement US 4-Dec-19

Omeros Corp. $50 million Upsized offering US 5-Dec-19

Arrowhead Pharmaceuticals Inc. $232 milllion Follow-on US 6-Dec-19

PRIVATE COMPANY FINANCINGS

AiCure $24.5 million Series C US 7-Nov-19

EpicentRx $35 million Series D US 13-Nov-19

Avidity Biosciences $100 million Series C US 13-Nov-19

Atomwise $14.5 million Series A US 15-Nov-19

Lucence Diagnostics $20 million Series A Singapore 19-Nov-19

Werewolf Therapeutics $56 million Series A US 20-Nov-19

GenapSys $90 million Series C US 20-Nov-19

PMV Pharmaceuticals Inc. $62 million Series C US 20-Nov-19

Phoenix Molecular Designs $12 million Seed funding Canada 21-Nov-19

Winterlight Labs Inc. $4.2 million Series A Canada 21-Nov-19

Immunitas Therapeutics $39 million Series A US 22-Nov-19

Azeria Therapeutics $41.5 million Series B UK 22-Nov-19

Genetron Holdings Ltd $75 million Series D Beijing 23-Nov-19

ImCheck Therapeutics $53 million Series B France 4-Dec-19

Black Diamond Therapeutics, Inc. $85 million Series C US 5-Dec-19

Jasper Therapeutics Inc. $35 million Series A US 6-Dec-19

Source: BioCentury

Happy HolidaysInstead of posting Christmas cards this year, we are donating to

St Mungo’s Charity, dedicated to ending homelessness in London. St Mungo’s provide a bed and support to 2850 people, every single night.

Our donation will help people experiencing homelessness get out of the cold and into a warmth and safe environment

this Christmas.

INVESTOR CONFERENCE EVENT CALENDAR

2020

JANUARYSachs 3rd Annual Neuroscience Innovation Forum, San Francisco (12 January)Biotech Showcase, San Francisco (13-15 January)JP Morgan 38th Annual Healthcare Conference, San Francisco (13-16 January)22nd Annual Needham & Co. Growth Conference, New York (14-15 January)

FEBRUARY6th Annual LSX World Congress, London (4-5 February)ASCO-SITC Clinical Immuno-Oncology Symposium, San Francisco (6-8 February)Annual BIO CEO & Investor Conference, New York (10-11 February)Sachs13th Annual European Life Sciences CEO Forum, Zurich (19-20 February) Leerink Partners Global Healthcare Conference 2020, New York (25-27 February)

MARCHRaymond James Annual Institutional Investors Conference, Orlando (1-4 March)Cowen & Co. Annual Health Care Conference, Boston (2-4 March) Credit Suisse Healthcare One-on-One Conference, London (3-4 March) Morgan Stanley European MedTech & Services Conference, London (6 March)New York BIO Annual Conference, New York (10-11 March) BIO Asia International Conference, Tokyo (10-11 March)Barclays Capital Healthcare Conference, Miami (10-12 March)Roth Capital Partners Annual Conference, California (15-17 March)Oppenheimer & Co. Annual Healthcare Conference, New York (17-18 March)BIO-Europe Spring, Vienna (23-25 March)KBC Securities Healthcare Conference, Brussels (TBD)

APRILH.C. Wainwright Global Life Sciences Conference, London (6-7 April)BioCentury Future Leaders in the Biotech Industry, New York (10 April) ARM Cell & Gene Meeting on the Mediterranean, Barcelona (15-17 April)BioTrinity 2020, London (28-29 April)Kempen & Co. Life Sciences Conference, Amsterdam (TBD)

MAYBank of America Merrill Lynch 2020 Healthcare Conference, Las Vegas (1 May)Deutsche Bank Annual Healthcare Conference, Boston (1 May)ChinaBio Partnering Forum, Suzhou (6-7 May)Citi Swiss Healthcare Day, Zurich (7 May)BioEquity Europe, Barcelona (11-12 May)UBS Global Healthcare Conference, New York (18-20 May) RBC Capital Markets 2020 Healthcare Conference, New York (26-27 May)

JUNEJefferies Healthcare Conference, London (2-4 June)Goldman Sachs 40th Annual Global Healthcare Conference, Palos Verdes (9 June)Citi 8th Annual European Healthcare Conference, London (16-17 June)Piper Jaffray Heartland Summit, Minneapolis (17-18 June)JMP Securities Life Sciences Conference, New York (17-18 June)Biotech CEO Summit Europe, Enniskerry, Ireland (17-19 June)Next Generation CAR & T Cell Therapies, San Francisco (22-24 June)JP Morgan European Healthcare Conference, London (25 June)Bryan Garnier & Co. Annual Oncology Day, Paris (TBD)

JULYLSE Future of Healthcare Investment Forum, London (1 July)Biotech CEO Summit Napa, Napa (13-15 July)

AUGUSTCanaccord Genuity Annual Growth Conference, Boston (12-13 August)

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19 November Connaught Rooms WC2B