Fintan Walton talks to Jeremy Curnock Cook, Bioscience Managers, John Wilkinson, Reed Smith, and Jim McCarthy, PharmaVentures, about the state of the industry in 2006 and what’s likely to happen in 2007. The panellists start by discussing how 2006 saw significant funds transferring from pharma to biotech companies, with numerous mergers and acquisitions, and the establishment of many corporate relationships. The IPO market remains a challenge, and biotech CEOs are looking increasingly for alternative ways into the market. The experts discuss why this is the case, the alternative approaches being taken and the impact that this has on deal value. Discussion surrounding the business model of family-run pharma companies is included, as is the trend for more complex deals, which rely greatly on good relationship management after a transaction has been completed. To find out what the panellists predict for 2007, watch the interview.
Having founded Bioscience Managers Ltd, a corporate and investment advisory company, in February 2001, Jeremy took up the position of Executive Chairman at the firm. Prior to this role, Jeremy spent 13 years at N.M. Rothschild & Sons Limited, where he created and led the Rothschild Bioscience Unit - the international and multidisciplinary team responsible for the investment advisory and management of a number of funds. Previously, in 1975, Jeremy founded the International Biochemicals Group (IBG), and built an 80-person company, which he sold to Royal Dutch Shell in 1985.
Mr. Curnock Cook has served on more than 30 boards of directors in the life sciences sector in the UK, Europe, US, Canada, Japan and Australia.
Prior to joining Reed Smith as Head of Life Sciences transactions and regulatory practice in Europe, John was joint head of Bird & Bird’s International Life Sciences Group. John, who was recently rated as a major player in the Pharmaceuticals and Biotechnology categories of the Legal 500, has particular expertise in advising on the structuring and implementation of complex commercial and corporate deals in the field. Prior to his time at Bird & Bird, John spent two years at Cancer Research Technology Ld, following his training at Lovells.
Jim McCarthy, VP Corporate Development, PharmaVentures, has 30 years of life sciences professional experience. His background includes a 24-year career with Bristol-Myers Squibb and positions with Eli Lilly & Company and the Arthur Young Health Care Consulting Group.
Jim has spent over a dozen years in corporate business development and external growth roles with pharmaceutical, medical device and ethical nutrition businesses. His experience spans work in over 30 countries, across a range of external growth alliance transactions (i.e. acquisitions, divestitures, licensing, research agreements etc).