PharmaTelevision - Lilly Ventures: Ed Torres

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Video title: Lilly Ventures: Ed Torres

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In this episode of PharmaTelevision News Review, Fintan Walton talks to Ed Torres, Managing Director of Lilly Ventures

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

Portfolio of investments and types of deals

Fintan Walton:

Hello and welcome to PharmaTelevision News Review here in Munich at BIO-Europe 2010. On this show I've Ed Torres , who is Managing Director at Lilly Ventures, welcome.

Ed Torres:

Thank you.

Fintan Walton:

Ed Torres , Lilly Ventures has been around for a while, but back in May of 2009 about 18 months ago Lilly Ventures spunout from Lilly itself as a separate entity with $200 million in it, could you tell us why that happened and the relationship between Lilly Ventures now and the past Lilly Ventures?

Ed Torres:

Sure, so we started Lilly Ventures in late 2001 and we invested in numerous companies had several exits, we had always understood that corporate compensation and venture capital compensation were different unfortunately we didn't recognize the importance of that early enough we lost two very, very good people and we were about to lose some more. And so last May we spun Lilly Ventures out of Lilly, we took our entire active portfolio with us and continue to exist as Lilly Ventures both in spirit and in main and we just created a different legal structure a classic venture capital fund with classic venture capital compensation and Lilly as the only current limited partner.

Fintan Walton:

Excellent, so clearly then as you've said you had a portfolio of investments today you are out there investing still?

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Fintan Walton

Dr.Fintan Walton is the Founder and CEO of PharmaVentures. After completing his doctoral research on the genetics of cell proliferation at the University of Michigan( US )and Trinity College (Dublin, Ireland ), Dr Walton gained broad commercial experience in biotechnology in management positions at Bass and Celltech plc(1982-1992).

Ed Torres

Managing Director

Ed Torres oversees Lilly Ventures operations and brings over 20 years of pharmaceutical and venture capital experience to the team. Since co-founding Lilly Ventures, he has led the investments in, and previously served on the boards of, Serenex (acquired by Pfizer ), Conforma Therapeutics (acquired by Biogen Idec) and Cabrellis Pharmaceuticals (acquired by Pharmion Corporation). Ed Torres currently sits on the boards of Cylene, GlobeImmune, Receptos, Viamet Pharmaceuticals and various non-profit institutions. Prior to his role in Lilly Ventures, Ed Torres had a diverse set of experiences throughout the domestic and international pharmaceutical businesses including operational finance, planning, M&A, business development and global marketing roles. Ed Torres received a bachelors of arts from Creighton University and a master of business administration from the University of Michigan Business School, where he was a Consortium Fellow.

PharmaVentures

PharmaVentures is a corporate finance and transactions advisory firm that has served hundreds of clients worldwide in relation to their strategic deal making in the pharmaceutical, life science and healthcare sectors. Our key offerings include: Transactions / deal negotiations; Product / technology valuations; Deal term advice; Due diligence & expert reports; Strategy formulation; Alliance management; and Expert opinion for litigation/arbitration cases. PharmaVentures provides the global expertise to ensure our clients generate the highest possible return on investment from all their deal making activities. We have experience of all therapeutic areas and can offer advice on both product and technology commercialisation.

Lilly Ventures

Lilly Ventures has its roots in the scientific tradition of Eli Lilly and Company. Lilly Ventures's investment philosophy drives it to seek great companies with compelling life science innovations and partner actively with the management teams of portfolio companies to realize the potential of their technologies. Accordingly, Lilly Ventures provides both financial and intellectual resources to accelerate the management teams' path to success. Lilly Ventures currently has $200 million under management with a focus on the North American and European regions.