PharmaTelevision - Paul Cheever Consulting: Funding and Investment Consultancy

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Video title: Paul Cheever Consulting: Funding and Investment Consultancy

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In this episode of PharmaTelevision News Review, Dr Fintan Walton talks to Paul Cheever, Cheever Consulting, Co-Founder.

Filmed at AusBiotech 2009, they discuss:

• Medical Research Commercialisation Fund
• Pre-seed funding for tech transfer
• How the funding works

Full video transcripts are available with PharmaTelevision Premium Content. Click here to buy a subscription or sign up for a 14 day free trial.

Medical Research Commercialisation Fund

Fintan Walton:

Hello and welcome to PharmaTelevision news review here in Melbourne, Australia. On this show I have Paul Cheever, who can be described as an architect of a number of investment schemes through the universities including UniQuest and then Medical Research Commercialization Fund which is just recently started. Welcome to the show.

Paul Cheever:

Thanks Fintan Walton.

Fintan Walton:

Paul Cheever, as I said you are a been described as an veteran investor in the Bio-Tech scene but one of the things that you"ve done here in Australia is to build up a architected put together a number of schemes that enables technology to come out of the university the one that"s been recently announced is the Medical Research Commercialization Fund, but you"ve done other types of schemes, so what's behind the fundamentals of these particular schemes?

Paul Cheever:

Sure, sure. Let me just start by a little bit of micro interest simply that, I am not a veteran investor in biotech, I am a portfolio manager so I am more of an investment consultant that, that"s has, but a better decade ago we were advising our institutional investors on investing at venture capital we began to make allocations as one does conventionally to venture funds and as we researched the industry and as we worked to those venture funds and particularly participated in the 0.01.42 Government Pre seed Program here we began to understand some of the weaknesses in what we might call the whole commercialization venture chain. And the weakness was largely around the fact that tech transfer offices at universities and medical research institutes were being given policy incentive to try and get better and do more but were largely inexperienced, so that how they motivated and being better funded but they were largely inexperienced and so commercialization from the lab bench after getting ready for venture investment was a pre ready path. We thought that we could do " we would do benefit our venture portfolio if we can improve that, so we talked about providing institutional or long-term institutional committed capital directly to collaborations involving the universities, groups of universities and institutes, so that they have a systematic process for accessing pre seed funds, we created a new set of pre seed funds on a collaborative basis working with them, one of the differences in this model versus a typical venture fund is it these funds actually aren"t owned by the managers, the investment managers have brought into manage them they are actually owned by the sponsors being institutional investors and the universities and the real institutes. And the process actually works very well because at least a huge amount of scale for the research organization in terms of their commercialization resources.

Fintan Walton:

And the key question is does it actually work?

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Paul Cheever
Co-Founder
Paul Cheever Consulting

Paul Cheever Consulting