PharmaTelevision - Early Stage Spin Outs and the Road to Success

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Video title: Early Stage Spin Outs and the Road to Success

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In this panel discussion, Fintan Walton talks with the three panel members about early stage funding and the ability to spin out companies. They discuss the difficulties faced by spin out companies, what approach they should be taking, and the difficulties that they will likely face in the future.

Dr. David Glover, who has had vast experience within the biotech industry and been involved in the creation of previous spin outs, starts the discussion by highlighting problems new spin out companies are facing in the current climate and what they can expect to face in future. He indicates ways in which to move the company forward by seeking alternative funding and ensuring they have a mature business model.

Dr. Tibor Papp, Head of Advisory at PharmaVentures agrees with David and advises start-up companies to keep their options open. He recommends looking into many different types of deals and funding options in order to spread their risk and progress the company despite the decrease in availability of early stage funding.

Dr. Davidson Ateh of Queen Mary’s University of London, a budding entrepreneur, adds to the discussion by outlining the difficulties he is facing in finding funding and his approach to survival within the current market. He talks about the efforts start-ups are required to make in order to secure funding and their need to be flexible in many ways to ensure the longevity of the company, suggesting possible ways in which to sustain revenue and ensure funding continues to come in.

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Early stage funding, ability to spin out companies and future of entrepreneurs of startup biotech companies

Fintan Walton:

Hello and welcome to PharmaVenturesBusiness Review here in London. On this face-to-face I have a panel made up of David Glover who is a former Chief Medical Officer of CAT, who is currently an Independent Consultant but also a Director of relatively small biotech company called MedCell Biosciences Ltd, welcome. Tibor Papp who heads up our Advisory and Transactions business at PharmaVentures, welcome Tibor Papp and Davidson Day Ateh who is from Queen Mary University of London, welcome.

Davidson Day Ateh:

Thank you.

Fintan Walton:

Gentlemen we are here to talk about early stage funding and particularly ability these days to spin out companies, David Gloveryou are a person who's had lot of experience with the biotech industry, you seen it from the perspective of CAT but also from your other activities subsequent from CAT and even during CAT you would have seen companies been spun out and created, today in October 2008 things have obviously changed to what they were even 10-years ago. From your perspective is there any future for an entrepreneur trying to set up a start-up biotech company?

David Glover:

Yes I think there is bright future but it's going to be on a completely different basis to have people who've considered funding companies in the past and it's going to be different sources of funding and different ways of moving companies forward.

Fintan Walton:

Right. I mean does that mean in a sense that obviously the sources of capital, so capital like seed capital in some early stage funding has more or less dried up, but what are the alternatives?

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Tibor Papp

Head of Advisory

Davidson Day Ateh has an interdisciplinary scientific background in both the physical and life sciences. He received a BEng (Hons) in Biomedical Materials Science and Engineering form Queen Mary University of London. He then developed polypyrrole-based conducting polymers and studied their interactions with biological cells for a PhD in Bioengineering. Dr Davidson Day Ateh now works at the Neuroscience Centre of the Institute of Cell and Molecular Science in Barts and The London's School of Medicine and Dentistry where he has held research positions and currently leads the scientific and commercial development of a therapeutic delivery platform for neurological diseases based on drug-loaded biodegradable particles. David Gloverworks as an independent consultant in pharmaceuticals and biotechnology and is currently a director of MedCell Biosciences Ltd, a stem cell company focusing on orthopedic and sports injuries. Tibor Papp is a senior strategy advisor to leading companies, he has 16 years of experience in the healthcare/life sciences industry in corporate strategy, investment appraisal, portfolio development, business transformation, licensing/M&A deal making, marketing strategy, and risk management. He has advised health care and private equity companies about acquisition and transaction strategies in pharmaceuticals, biotechnology, medical devices, drug delivery systems and medical supplies globally. Currently, he is Head of Consultancy at PharmaVentures and focuses on commercialization strategies, product/technology licensing, mergers & acquisition, divestments and alliances. Dr Tibor Papp is also an experienced surgeon and has a PhD from the University of Aberdeen and an MBA from the University of Oxford.

Queen Mary University of London

Queen Mary University of Londonis one of London and the UK's leading research-focused higher education institutions. Amongst the largest of the colleges of the University of London, Queen Mary University of London 3,000 staff deliver world class degree programmes and research across a wide range of subjects in Humanities, Social Sciences and Laws, in Medicine and Dentistry and in Science and Engineering. Queen Mary University of London was ranked 13th in the UK in the 2008 Research Assessment Exercise (RAE) according to the Times Higher Education. MedCell Bioscience LtdMedCell Biosciences Ltd is a UK based biotech company focused on harnessing the power of stem cells to provide musculoskeletal regenerativetherapeutics. MedCell Biosciences Ltd's novel lead technologies cover cell therapy, cell expansion, and tissue scaffolds. These are three of the cornerstones of regenerative medicine address unmet needs and provide significant advantages over current practice:MS-ten - Stem cell treatments for tendon & ligament injuries . PharmaVentures Today's health care industry is being transformed by deal transactions. We are PharmaVentures a specialist advisory firm, a world leader in deals and alliances, one of the few with the depth of expertise to actively shape this crucial transformation. We offer a comprehensive range of health care deal advisory services. Our unrivalled bank of specialist knowledge, experience and network of contacts within this industry makes us uniquely placed to support your business in all aspects of transactions.