Per tornare
allo sviluppo
Silvano Fumero
XXX Convegno di economia e politica industriale
Moncalieri 22-23 settembre 2006
The “red biotech” paradigm
Source Burril & Co - 2005
Biotech evolution model
Academia
Seed Capital
Venture Capital
B
B
B
Res.
Res.
Res.
Mkt
Dev.
1980
Mkt
Dev.
2000
Mkt
Dev.
2020
The R&D Process - Time and Money
Lead
Candidate
Discovery
Years
Cost (%)
5.5
19%
Development
Pre-Clinical
1.0
10%
NDA
Clinical
Development
PI
P II P III
FDA
Approval
1.5
2.0
2.5
1.5
15% 22% 31% 3%
Source: McKinsey & Co, Lehman Brothers, PhRMA, FDA
14.0
100%
Payments typically take the form of upfront payments once
a deal is closed and milestone payments contingent upon
clearing pre-specified development hurdles
Preclinical Phase I
Phase II Phase III
Upfront
($ millions)
2
5
10
15
Milestones
($ millions)
15
25
35
50
7
10
20
25
Royalty
(percentage)
Nature Review/ Drug Discovery 2003 (Million Dollars)
Mc Kinsey Analysis of deals 1991-2002
CREABILIS therapeutics s.r.l.
Via Ribes, 5 – Bioindustry Park del Canavese
10010 Colleretto Giacosa (TO) – ITALY
Ph. +39 0125 53543 – fax +39 0125 538897
http://www.creabilistherapeutics.com
[email protected]
THE MISSION
CREABILIS Therapeutics is a drug discovery and
development biotech company,
founded in May 2003, privately funded, located in the
Bioindustry Park (Colleretto Giacosa, TORINO)
with the aim to discover, select, develop and bring to
commercial fruition novel and highly innovative
therapeutic agents.
Products - Targets - Clinical Indications
CT327
Psoriasis
TrKA
TNF Pathologies
Behçet Disease
CT335
336
Kinases
CT500s
RAGE
TLR
HMGB1
Inflammation
Sepsis
Tumor
CNS Path.
Atherosclerosis
CT400s
CT319
Tat
AIDS
BASIC SCIENCE, TECHNOLOGIES AND DRUGABILITY
SMALL
MOLECULES
MINIPEGYLATION
(Pegylation with low
MW PEG)
PROTEINS
Rational Evolution
Technology (Nautilus)
NUCLEIC
ACIDS
Bent DNA/PNA
Chimera / hybrids
PEPTIDES
Chem. Modific.
CT327 Topical Psoriasis
CT335/336 Systemic Treat.
Orphan Drug Application
CT500s HMGB1/RAGE
Pathologies
CT400s HMGB1
Pathologies
CT319 AIDS
CT Pipeline
From scientific result to company creation: basic assets
GOOD SCIENCE
INTELLECTUAL PROPERTY
CAPITAL
MANAGEMENT
© Bioindustry Park del Canavese SpA - 2066
www.bioindustrypark.it - www.eporgen.com
14
© Bioindustry Park del Canavese SpA - 2066
www.bioindustrypark.it - www.eporgen.com
15
Bioindustry
Park Canavese
Eporgen
Venture
Progetto
Discovery
The Eporgen Venture model
•“Seed-capital” company founded and funded by non institutional
investors;
•The shareholders of Eporgen Venture are private investors residents
in the area of Ivrea, Turin and Biella. All of them have been motivated
from the desire to create and support a series of initiatives aiming to
promote new companies (start-up) based on highly innovative projects
with international scientific relevance;
•Eporgen Venture SpA has the institutional objective of finding
proposals from Italian or foreign researchers, either from academic or
private institutions, evaluate their potential and give them the means to
develop and bring their projects, in a time frame of 2-3 years, to a level
where the results can be proposed to new investors and Venture Capital
or generate partnerships with medium-large pharma/biotech companies.
Bioindustry Park and Start-ups:
Bioincubation and DISCOVERY 1 project –steps and quantitative results
Bioindustry Park
Canavese
Eporgen
Venture
Involvement
of local
investors
5
5
Availability of
3 Ml euro for
investment in
start-ups
www.bioindustrypark.it - www.eporgen.com
© Bioindustry Park del Canavese SpA - 2066
Phisical
incubator
Supporting
programmes
18
Discovery incubator: first start-ups
1) TARGET HEART
Torino, Roma
2) SPIDER BIOTECH
Siena
3) NARVALUS
Padova, Rovereto
5) BIO NUCLEON
Napoli
© Bioindustry Park del Canavese SpA - 2005
4) BIOPAINT
Ivrea, Bologna,
Viterbo, Trieste
www.bioindustrypark.i 19
t
IL CLUSTER BIOTECH DEL
BIOINDUSTRY PARK:
CNR
CREABILIS THER.
LABORATORIO
INTEGRATO
METODOLOGIE
AVANZATE
UNIV. TO
BIOMAN
AETHIA
HMGBiotech
BRACCO
A.A.A.
RBM / SERONO
1) TARGET HEART
2) SPIDER BIOTECH
MEDESTEA
RESEARCH
3) NARVALUS
4) BIOPAINT
5) BIO NUCLEON
BIOLAB
CHEMSAFE
SITEC CONS
EPORGEN
VENTURE
COLGITEC
BIO3 RESEARCH