project report 2017 - bioventurehub · we are proud to report a number of firsts throughout the...
TRANSCRIPT
PROJECTREPORT
2017
A word from the CEO
2017 at a glance
Meet the companies
What’s in it for the companies?
What’s in it for AstraZeneca?
What’s in it for the life science industry?
Creating a 4D life science reality
Our story so far
Interview with Magnus and Niklas
Frequently asked questions
BioVentureHub buzz
Financial overview
Scientific partners / Sponsors / Acknowledgements
CONTENT
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4-5
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10-11
12-13
14-15
16-17
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The BioVentureHub continues to grow. During 2017, we welcomed 8 new companies: EctinResearch, InOrbit Therapeutics, InSingulo Solu-tions, Liv Diagnostics, Mentormate, Mölnlycke, OnDosis and RLS Global. At the end of the year, there were 24 life science companies and 1 academic group embedded with us at the heart of AstraZeneca’s R&D Gothen-burg site.
We are proud to report a number of firsts throughout the year. These include digital health company Mentormate from the USA being the firstinternational company to join us; Gothenburg-based Möln-lycke was our first global comp-any; and OnDosis was the first company to join as a result of the AstraZeneca Spin Out project.
Each new company or academic group adds more ingredients and flavours to the innovation experi-ment we’re cooking up in the BioVentureHub.
If we’re honest, we don’t have a blueprint or grand plan for the way forward. But by making it easier for life science experts with diverse backgrounds and complementary skills to meet and interact,
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A WORD FROMTHE CEO
Magnus BjörsneCEO
we’re seeing that we are creating a melting pot in which collaborative innovation can flourish.
Normally in our industry, you have to show a busi-ness case with predicted financial outcome be-
fore you can get moving. We believe that no ground breaking innovation can be made
based on things you can predict.
Instead of money, the curren-cy we use in the BioVenture-Hub is knowledge and inter-
action. By daring to share and stimulating a 4D life
science reality – combining Drugs, Diagnostics, Devices,
Digital health – we are forming a modern, life science environment
based on scientific curiosity and collaboration opportunities, rather
than strict business plan recipes.
Thank you for your support and encouragement in 2017. We’re looking forward to collaborating with you on this exciting innovation experiment in 2018 and beyond!
“Do today what others don’t,so tomorrow you can do what
others can’t”
24
Hosted ´Taking life science to the stock market´event
with Nasdaq
Vicore Pharma andEmeriti Bio announce
colloaboration agreement
Antaros Medical become partner in
EU collaboration project (TRISTAN)
Mölnlycke establishedR&D unit in
BioVentureHub
InOrbit Therapeuticsmove in
Vicore Pharma study adds to profile of C21
Liv Diagnostics join
OnDosisfounded out of
Spin Out project
In Singulo Solutionsand RLS Global move in
Named in labiotech list of top 15 biotech
incubators in Europe
54
DECNOVOKTSEPAUGJULJUNMAYAPRFEB MARJAN
Featured in Vinnova’sInnovation magazine
2017AT A GLANCE
Ectin Research join
MEET THE COMPANIES
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“We submitted an application to start a phase IIa study with C21 in patients suffering from
Idiopathic Pulmonary Fibrosis.”
Per Jansson, CEO,Vicore Pharma
“The progression of our drug candidate CS1 into clinical
studies. We’re developing CS1 as a new preventive medicine to treat
thrombosis-related disease.”
Sten R. Sörensen, CEO,Cereno Scientific
“We initiated a phase2a clinical study on arterial
inflammation with our human antibody PC-mAb.”
Carina Schmidt, CEO,Athera Biotechnologies
“We received funding from Vinnova to develop pharma-
ceutical products based on the microbiome.”
Sara Malcus, CEO,Metabogen
WHAT WAS THE HIGHLIGHT FOR YOUR COMPANY IN 2017?
* Tataa and Vivolux left the BioVentureHub during 2017.
FOR VALUE
LIPIGONPHARMACEUTICALS
Embedded at the heart of AstraZeneca Gothenburg,BioVentureHub companies become part of a unique, open and collaborative scientific community. BioVentureHub members have the same access tothe facilities as AstraZeneca staff.
WHAT’S IN IT FOR THE COMPANIES?
WHAT’S IN IT FOR ASTRAZENECA?
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EXAMPLES OF SCIENTIFIC ADVICE AND WORK
• 2nd opinion on outcome of in vivo experiments
• Advice on suitable pharmacology screening assay
• Choice of indication based on known mode of action
• Advice on choice of non-clinical target validation
• Practical approaches for regulatory work for clinical studies in different geographies
• Requirements for and benefit of orphan designation for development drugs
• Advice on choice of non-clinical target validation
• Formulation feasibility work
• NMR feasibility work
• Proprietary in vitro assays
• Exploratory experimental NMR work
• Access to scientific leadership
• Open doors and open innovation
• Growth
• A great place to work
• A great place to live
• A unique service offering
Delivering on our value of ‘We are entrepreneurial’ and our strategic ambition to be a great place to work, the BioVentureHub is stimulating a more dynamic scientific research environment at the AstraZeneca Gothenburg site.
Combining different value chains, ideas and perspectives - and using resources and capacity in a new way - the BioVentureHub exposes AstraZeneca to more science and provides the company with a unique catalyst for innovation on the Gothenburg site.
AstraZeneca has entered into a number of scientific collaborations with several of the companies in the BioVentureHub. As the BioVentureHub continues to develop, we will increasingly be able to develop mutual learning and generate future collaboration opportunities.
The BioVentureHub and AstraZeneca initiated the Spin-
out project in collaboration with Vinnova and a group of
international investors to establish new life science companies
based on promising research or technology projects that might not otherwise beprogressed. OnDosis is the first company resulting from
the Spin-out project.
Companies in a number ofother industries have been inspired
by our novel innovation model.For example, ABB launched
SynerLeap after various studytrips to the BioVentureHub.
Our collaboration with the Gothenburg School of
Economics has led to several research articles examining the
BioVentureHub innovation model being published in international
peer-reviewed, international journals.
INFRASTRUCTURE
• Access to database of scientific subcontractors and tools for requesting quotations
• Possibilities to buy used AstraZeneca equipment
• Management of chemical and biological waste
• Specialized lab services (e.g autoclaving)
• Open Innovation as a facilitator for
corporate exploration.•
Connecting life science entrepreneurs with resources
and expertise: the role of iungens brokerage in life science
innovation.•
The institutional work of life science innovation leadership: the case of
a bio venture hub.
WHAT’S IN IT FOR THELIFE SCIENCE INDUSTRY?
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FACILITATING SCIENTIFIC EXCHANGE
The BioVentureHub provides life science companies and research groups with a unique opportunity to co-locate and interact with AstraZeneca’s sci-entists and state-of-the-art facilities and infrastructure, and with each other.
DEVELOPING PROJECT ASSESSMENTAND COMMERCIAL FORECASTING CAPABILITIES
By tapping into AstraZeneca’s project assessment, entrepreneurs can in-crease their chances of developing the full commercial value of their innova-tions and make value-based investment decisions sooner.
AstraZeneca established the BioVentureHub in 2014with the aim to stimulate innovation and to strengthencompetitiveness in the life science ecosystem in Sweden and Scandinavia. Here are some of the ways we’remaking this happen…
STIMULATING A 4D LIFE SCIENCE ENVIRONMENT
The BioVentureHub is attracting and bringing together talent and expertise across Drugs, Devices, Diagnostics & Digital health. This ‘complementarity’ is helping to enhance the value of the individual value chains.
SPINNING OUT VALUE
AstraZeneca and the BioVentureHub are collaborating with the Swedish Government to establish a new innovation model that breathes life into proj-ects that established companies have decided not to commercialise. As with the launch of OnDosis, these innovations can provide the basis for new businesses, and subsequently, new jobs.
SAVING COSTS AND ENABLING BUSINESS SUCCESS
Companies and research groups in the BioVentureHub get access to every-thing that AstraZeneca gets – from chemical supplies thru shared services and business support to rubber gloves. Besides significant cost savings, everything is optimised to enable business success.
“AstraZeneca’s BioVentureHub is an exciting innovation model
for strengthening competitiveness and collaboration in the life science
industry. It’s smart Swedish industry in action, serving as inspiration to other companies andindustries when it comes to generatingopportunites in the new industrial era.”
Mikael Damberg,Swedish Minister for Enterprise and innovation
“We enjoy working with Magnus and his team to actively develop and promote West Sweden as a
vibrant life science cluster area. Through our close collaboration and our close con-nections with Sahlgrenska University Hospital, As-traZeneca, academia and wider industry, we have a very attractive combined offering for smaller life sci-ence companies who want to establish themselves in this region and accelerate their growth.”
Lotta Gummeson,CEO Sahlgrenska Science Park
“The BioVentureHub is an excel-lent example of how unlocking
knowledge exchange can fuel the growth of life science compa-
nies and the industry as a whole. We are very proud to have been part of the BioVenture-
Hub journey over the past three years - a courageous concept has become an
inspirational reality.”
Jenni Nordborg,Director and head of Health at
VINNOVA
“We support a number of the life science companies located in the BioVentureHub. We see that
having everyday access to Astra-Zeneca’s expertise and experience is significantly benefitting these companies. Innovative business initiatives such as the spin-out project, through which we had the opportunity to invest in and build OnDosis, also help to strengthen the life science industry.” Klementina Österberg,CEO at GU Ventures
“The BioVen-tureHub is play-
ing an important role in the life science ecosystem in West Sweden
and Sweden as whole. Besides help-ing to attract new companies and com-
petence, it is exploring an exciting new busi-ness model based on the sharing economy.
Long-term growth, impact and innovation in the life science industry will be dependent on collabo-ration – that’s what the BioVentureHub is all about.”
Iris Öhrn,Life Science Investment Advisor
at Business Region Göteborg
DIAGNOSTICS
DIGITAL HEALTH
DEVICES
DRUGS
DRUGS. DEVICES. DIAGNOSTICS.DIGITAL HEALTH.
The BioVentureHub is attracting and bringingtogether talent and expertise across Drugs,Devices, Diagnostics & Digital health.This ‘complementarity’ is helping to enhancethe value of the individual value chains.
Here are four examples of BioVentureHub companies from across the four value chains,who are helping us to form a modern lifescience environment…
CREATING A 4DLIFE SCIENCE REALITY
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Emeriti PharmaDavid Gustafsson,CEO
“Our company was founded in 2014 by former AstraZeneca scientists representing a wide knowledge of pharmaceutical research and development. We’re focused on develop-ing EP0003, a novel mechanism to treat dermatological disorders. EP0003 is pre-clinically well documented and a first time in human Phase I study with topical a ministra-tion has been performed.”
MölnlyckeEwa Kölby Falck,R&D Laboratory, Prototyping& Innovation Support Manager
“We want to expand our cell biology and analytical chemistry capabilities and explore collaboration opportunities across life science. We are looking to inject more scientific evidence and insights into our work. We hope to achieve good networking and new opportunities together with Astrazeneca and the other companies in the BioVentureHub. We love the energy and the future thinking, as well as the spirit and the mix of all the knowledge and experienced peo-ple. The atmosphere in the BioVentureHub
is great!”
LIV DiagnosticsJohan Bjurqvist,CEO
“Liv Diagnostics is developing a new diagnostic tool to measure the migration behavior of tumor cells, which provides a predictive indicator of metastasis. This information is critical be-cause metastasis causes 90% of all deaths in
cancer. Our product, CellRACE, provides direct and quantified information on the risk of me-
tastasis by analyzing the migration behav-ior of living cells.”
MentormateRobert Samuelsson,General Manager (Sweden)
“Our expansion from the USA into Sweden makes it easier for us to bring our digital health capabilities to Western Europe. We are already collaborating with AstraZeneca on a project to col-lect data in mobile apps to predict asthma attacks. This has developed into two more projects, and we are discussing four more potential projects for 2018. Being part of the BioVentureHub has been very fruitful for us.”
3 drug companies, 2 digital health companies, 2 med-ical device companies and 1 diagnostic company join
during 2017.
Antaros Medical joins.5 companies in BVH.
Companies move from annex to heart of site
10 companies in BVH
17 companies and 1academic group in BVH.
Spin-out projectannounced.
US-based Mentormate joins. First international
company in BVH.Awarded key to city of
Gothenburg.
Mölnlycke, a world-leading global medical solutions
company, establishes R&D innovation unit in BVH.
Starts as an innovation experiment. Mintage
Scientific is first company to join in Jan 2014.
Vinnova, Carl Bennet AB, Västra Götalandsregionen and Göteborgs Stad invest SEK 39 million in 5-year
BVH funding
First academic group, NanoSIMS, moves in with 37 MSEK investment from Knut & Alice Wallenberg
Foundation.
Magnus Björsne awarded “Enabler of the Year” by Life Science Sweden.
Labiotech.eu include BVH in list of top 15 biotech incubators in Europe
OnDosis, first Spin-out company, moves in.
State visit by President of Chile, with King and Queen
of Sweden.
It started as an experiment to support AstraZeneca’s ambition to be more open towards the outside world. The first company, Mintage Scientific, moved in Jan 2014. The experiment has developed and widened, and is going from strength to strength.
OUR STORY
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MAY2016
FEB2016
SEPT2015
JUN2015
SEPT2014
FEB2015
JAN2014
“The initial idea to create the hub was met with healthy skepticism four years ago. Now, everybody seems to want to know more about the BioVen-tureHub model, and the interest has definitely ex-ceeded our expectations. With our unique position in Sweden, it’s crucial for us to be part of creating a strong life science ecosystem where more com-panies are successful. Even if we make just a small difference, it’s worth the effort.”
Jan-Olof Jacke,President, AstraZeneca Sweden
“Having more companies on site, doing more science, can only be a good thing. By attracting world-class scientists and investors, the BioVen-tureHub is contributing to a more vibrant and attractive research environment, and is helping us achieve our vision of making AstraZenecaGothenburg one of the best R&D sites in the world.“
Elisabeth Björk,Vice President Head CVMD GMed& Gothenburg Site Lead
“The BioVentureHub has increased our interface with the outside world. Being open to collaborate and willing to share are increasingly important fac-tors for successful drug development. The hub is also helping to galvanise the life science potential in this region so we can compete for talent on a global basis.”
Matti AhlqvistSite Director, AstraZeneca Gothenburg
WHAT´SNEXT?
MAY2017
JAN2017
DEC2016
SEPT2016
DEC2017
NOV2017
JUN2017
What is the key to the success of the BVH?What impresses people is the courage AstraZene-ca is showing to open up and let people in. We’re doing something that goes against the instincts of big pharma. That seems to fascinate people. This is all about using existing resources in a better way than we have used them before. We have created a model that is quite unique. It’s not only words, it actually works!
How do you get new companies to join?Our objective is not to sell square me-tres, to be a landlord, or to drag people in. We want to attract companies who can get value from and add value to the BVH environment. We’re selective. We turn down approximately 50% of the com-panies who are interested in joining.
How is the AZ BVH different to other incu-bators?
A key difference is that we don’t focus on startups. Some of our peers have started
incubators to capture new startup inno-vations.
We focus on helping companies that are approach-ing the “Valley of Death,” i.e. about to enter the de-velopment phase. The BVH companies have their intellectual property (IP) in place so we can interact with them without risk of jeopardizing future IP.Compared to other incubators, there are a lot of services we don’t provide, e.g. business coach-
ing, funding, business development support. What we do offer is access to world-class
scientific, technical and strategic exper-tise, which very few others can offer.
What is the real value for Astra-Zeneca?
The BVH is helping to change the cul-ture of the company. AZ employees get
exposed to different attitudes, mindsets and ways of working. They are often thrilled to learn
about new projects and new scientific approaches, and are very proud when they are asked to give their opinions and advice. AZ is doing this because we believe that we will all benefit from a stronger life science community.
What’s it like working with the BioVentureHub (BVH)?We are a small team and we all have to help out. It’s like working in a small biotech within AstraZeneca (AZ). We all have different personalities and we have a lot of fun together.It’s informal and accountability is shared. What brings us together is a common sense of pur-pose. We’re here to make sure the BVH works.
What are your growth plans?We are deliberately blending compa-nies from four life science value chains. Over time, more of the innovation in our business will come from this 4D ap-proach where diverse companies get to-gether and jointly come up with new value propositions. There is also a growing interest in the BVH from countries such as USA, Germany, Nor-way, New Zealand. We would love to bring more international companies into the hub.
And we want more academic groups to join so we can see what happens when we take an opportuni-ty-based, rather than a problem solving, approach to collaboration.
Final thoughts?We want to help create a region that is world-lead-
ing in life science. Part of this is about facilitat-ing greater fluidity of people between big
pharma, biotech, medtech, digital health companiesWe are starting to see that happen al-ready. A lot of former AZ employees now work in BVH companies. AZ has recruited from the BVH companies. AZ has seconded people into the com-
panies to learn new technologies…. A common perception is that the life science
industry has been decaying in Sweden, and that AZ is no longer doing R&D in Sweden. With the at-tention the BVH is receiving, we’re sending a strong signal that AZ is still here and that we’re whole-heartedly invested in this region and this industry.
INTERVIEW WITHMAGNUS & NIKLAS
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Magnus Björsne, CEO Niklas Magnell, COO
From a Facilities Management perspective theBioVentureHub challenges our existing processes,
which leads to innovation and new ways of working, adding value to the BioVentureHub companies
and AstraZeneca.
In 2018, we’re celebrating three years of working with the BioVentureHub model. Every day, our colleagues
in the hub companies inspire us and give us newperspectives on innovation and collaboration.
The BioVentureHub is an important part of the life science cluster we are creating here in the Gothenburg region. It provides a blueprint for collaboration across
borders and promotes efficiency, creativity andsustainability in the life science ecosystem.
It’s fantastic to experience the buzz being generated by the BioVentureHub.It would be super cool if more
international companies join us in 2018.
Erica WoodrowCFO
Ramon NoguerasReal Estate
Annica JohanssonFacilities Management
Jamie SmithCommunications
FREQUENTLY ASKED QUESTIONS
BIOVENTUREHUBBUZZ
1918
BioVentureHub brings small companies
together at heart of big pharma
Open doors at AstraZeneca’s lab
Small and big companies create
new solutions togetherAstraZeneca sees great success with unique incubator
Antaros Medical wins Göteborg’s CompaniprisOpen culture nourishes
science hub
The 15 Best Biotech Incubators in Europe,
Hatching Future Biotech Stars
Collaboration for successBrainchild and accelerator
Taking life science tothe stock marketBioVentureHub - A catalyst
for scientific innovation
Introducing OnDosis- a new life science company
Tidningen Innovation, 31 March 2017
Tidningen Innovation, 31 March 2017
Göteborgs-Posten, 20 August 2017
Labiotech.eu, 16 May 2017
Twitter #swelife #gehealthcare @NLSdays,
14 September 2017
www.azbioventurehub.com
MEDWATCH.DK, 19 April 2017
Göteborg & Co press release, 30 January 2017
Kauppalehti, 22 June 2017
Joint event with Nasdaq and Sahlgrenska Science Park, 30 Janu-ary 2017
GU Ventures press release, 18 October 2017
Dagens Industri, 4 April 2017
How many companies are there in the BioVentureHub (BVH)? There are currently 24 companies and 1 academic group in the BVH.
How many people are employed by the BVH companies? There are currently 107 people employed by the BVH companies.
What’s the maximum capacity for companies/people in the BVH? There’s no fixed limit. That said, we always assess whether there are synergies, both regarding AstraZeneca (AZ) interests and/or with respect to other companies in the BVH. We also make sure that we have capacity to take them on, in all respects.
How is the BVH funded? Non-facility related costs incurred by AstraZeneca are reimbursed by external funds – from four external investors: Vinnova, Carl Bennet AB, Region Västra Götaland and City of Gothenburg. The companies also pay a monthly rental fee. The BioVentureHub is cost neutral to AstraZeneca.
How does confidentiality work with the external BVH companies? One of the drivers behind the BVH is knowledge sharing. To benefit from what you learn, knowledge sharing can’t be restricted as a default option. There is always a possibility to set up separate confidentiality agreements if needed.
Can BVH companies access AZ equipment and expertise? Yes. As long as AZ has the capacity and departmental approval has been obtained. Requests from BVH companies to use AZ expertise and equipment should be managed through the BVH team.
Is AZ reducing its footprint due to the BVH? No. Besides stimulating open and collaborative innovation, the BVH makes use of office and lab spaces that aren’t being used.
Does AstraZeneca have any rights in the BVH companies? No. Joining the BVH does not give AstraZeneca any rights to your company information nor to potential inventions/IP – not even a “first right of refusal”. As such, you have full freedom to operate as an independent company. No strings attached.
What AZ facilities can the BVH company employees access and use? All general facilities, e.g. restaurant, meeting rooms… BVH company employees can also access the sports centre if they have bought a membership card.
What kind of companies are you looking for to join the BVH? The BioVentureHub is an ideal environment for emerging medtech and biotech companies working on innovative science. Please contact us if you have any thoughts or ideas about companies that could benefit from and add value to the BVH and AstraZeneca.
Where can I find more information about the BVH and BVH companies? Talk to the AZ BVH staff and BVH company employees, and check out: www.azbioventurehub.com or send an email to [email protected]
FINANCIAL OVERVIEW
SPONSORS
COSTS
We have divided project costs into three types for 2017:
Operating costs: amounted to SEK 4.3 million – mainly consisting of personnel costs
Infrastructure costs: amounted to SEK 0.1 million – establishing processes, IT infrastructure and other necessary infrastructure adjustments to support the innovation-focused environment.
Support to companies: amounted to SEK 1.7 million – costs for activities that have directly supported one or more BVH company.
In total, costs for 2017 amounted to SEK 6.1 million.
FUNDING(distribution of project costs)
VINNOVA (Sweden’s innovation agency) finances project costs corresponding to 50% of external financing, which corresponds to SEK 3.1 million in 2017.
Carl Bennet AB finances project costs corresponding to 16.7% finances project costs corresponding to SEK 1 million in 2017.
Region Västra Götaland (VGR) finances project costs corresponding to 16.7% finances project costs corresponding to SEK 1 million in 2017.
City of Gothenburg (Göteborgs stad) finances project costs corresponding to 16.7% finances project costs corresponding to SEK 1 million in 2017.
We would like to sincerely thank all our funders, including AstraZeneca, which has provided tremendous support not accounted for in the numbers.
The BioVentureHub is funded by both public and private investors. The five-year funding of the BioVentureHub makes it cost neutral to AstraZeneca.
SCIENTIFIC PARTNERS
Special thanks go to the following people for going over and above the call of duty:
Jane Buus Laursen (GPPS); Kay Brickmann (SPA); Martin Adler (Procurement); Lars Västanhav (IT infrastructure); Ulrika Lilja Stevall (Legal); Ayman Al-Shurbaji (Spin-out); Lubomir Gradinarski (GMD) Staffan Folestad & Mats Berglund (Pharmaceutical Technology & Development); Marie Anderson, Robert Goude & Catharina Dahl (Facilities Management); Lars Sandberg (SHE); Stanko Skritic (Early Clinical Dev); Marcus Schindler (iMed); Jenny Sundqvist, Matti Ahlqvist & Elisabeth Björk (Site Management); Petra Eurenius & Jacob Lund (Corporate Affairs), Jan-Olof Jacke (President, AZ Sweden)
SPECIAL THANKS
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© AstraZeneca BioVentureHub AB | Produced by Jamie Smith Communications AB
Magnus BjörsneCEO
Niklas MagnellCOO
Jamie SmithCommunications
Ramon NoguerasReal Estate
Erica WoodrowCFO
Annica JohanssonFacilities Management
THE BIOVENTURE HUB TEAM
@BioVentureHubazbioventurehub.com
To learn more about the BioVentureHub and companies, visit www.azbioventurehub.com or send an email to