1 2 Post-Recession Life Sciences: Post-Recession Life Sciences: - - PowerPoint PPT Presentation

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1 2 Post-Recession Life Sciences: Post-Recession Life Sciences: - - PowerPoint PPT Presentation

Oct 19, 2022 364 likes •468 views

1 2 Post-Recession Life Sciences: Post-Recession Life Sciences: Achieving Success in the Current Achieving Success in the Current Economic Environment Economic Environment Panelists Panelists Moderated by : Jam James C. Chapm s C.

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Post-Recession Life Sciences: Post-Recession Life Sciences: Achieving Success in the Current Achieving Success in the Current Economic Environment Economic Environment

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Panelists Panelists

Moderated by: Jam James C. Chapm s C. Chapman, Partner, Foley & Lardner LLP Speakers: Ca Cami mille D. lle D. Sa Samu muels, Managing Director, Versant Ventures Ri Rich Ra ch Ramko mko, Partner, Ernst & Young Da David M. vid M. Sa Sabow, Vice President, Investment Banking, Canaccord Genuity Inc.

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General Market Overview General Market Overview

Healthca thcare P re Price Pe ice Perfo rformance mance

NASDAQ H Healt althcare re I Index P Perf rformance Grap aph

8 5 % 9 0 % 9 5 % 1 0 0 % 1 0 5 % 1 1 0 % 1 1 5 % 1 2 0 % 1 2 5 % 1 3 0 % 1 3 5 % S e p -1 0 O c t-10 N ov -1 0 D e c -10 Ja n -1 1 F eb -1 1 M ar-1 1 A pr-1 1 M ay -1 1 Ju n -1 1 J u l-1 1 A ug- 11

^COMP - Share Pricing Healthcare Large Cap Index Healthcare Mid Cap Index Healthcare Small Cap Index 5. 5.9% 5. 5.5% (6 (6.3%) 10 10.1%

Source: Nasdaq website and Capital IQ as of 9/9/11. Small Cap: >$100M and <$500M Mid Cap: >$500M and <$2B Large Cap: >$2B

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Diagnostics Capital Markets Overview Diagnostics Capital Markets Overview

U.S U.S. Med-Tech Med-Tech IPOs vs Os vs. Bi . Biotech

  • tech IPOs:

IPOs: 1995 – 1995 – 2011YTD 011YTD

Total IP IPOs b by Q Quarter

5 10 15 20 25 30 Q1 1995 Q3 1995 Q1 1996 Q3 1996 Q1 1997 Q3 1997 Q1 1998 Q3 1998 Q1 1999 Q3 1999 Q1 2000 Q3 2000 Q1 2001 Q3 2001 Q1 2002 Q3 2002 Q1 2003 Q3 2003 Q1 2004 Q3 2004 Q1 2005 Q3 2005 Q1 2006 Q3 2006 Q1 2007 Q3 2007 Q1 2008 Q3 2008 Q1 2009 Q3 2009 Q1 2010 Q3 2010 Q1 2011 To Total N Number o

  • f IPOs

IPOs

Med Tech IPOs Biotech IPOs

Source: Dealogic. Note: Life Sciences refers to Biotechnology, Medical Technology, and Diagnostics transactions. For this analysis, Diagnostics transactions were included within the Medical Technology sector. Data through Q2 ’11.

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Diagnostics Capital Markets Overview Diagnostics Capital Markets Overview

Li Life S fe Sciences es IPOs i IPOs in Regi Registr strati tion

  • n

Number o

  • f Li

Life fe Sciences IP IPOs i in R Regis istrat ation

5 10 15 20 25 Apr-07 Jul-07 Oct-07 Jan-08 Apr-08 Jul-08 Oct-08 Jan-09 Apr-09 Jul-09 Oct-09 Jan-10 Apr-10 Jul-10 Oct-10 Jan-11 Apr-11 Jul-11

Med-Tech IPOs in Registration Biotech IPOs in Registration

Source: Dealogic. Note: Life Sciences refers to Biotechnology, Medical Technology, and Diagnostics transactions. For this analysis, Diagnostics transactions were included within the Medical Technology sector. Data through 9/1/11. Excludes companies in registration beyond 300 days.

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($ in in millio illions ns) Fi Filing ng Days ys i in LT LTM R M Revenu nue Amount Da Date te Re Registra ration

  • n(1)

Issue suer Sector

  • r

Business ss Descri Descript ption at F Filing Filed 07/29/11 42 Argos Therapeutics Inc BT Engages in developing immunotherapy treatments for cancer, infectious and autoimmune diseases, and transplantation rejection. $8.4 $86.3 07/13/11 58 ZELTIQ Aesthetics Inc MT Focuses on developing and commercializing aesthetic products utilizing the proprietary controlled-cooling technology platform. 37.7 115.0 07/11/11 60 Emmaus Holdings Inc BT Engages in the discovery, development and commercialization of treatments and therapies for rare diseases. 0.2 28.8 07/08/11 63 Merrimack Pharmaceuticals Inc BT Focuses on the discovery and development of drugs for the treatment of immunological and autoimmune diseases. 22.8 172.5 06/23/11 78 Clovis Oncology Inc BT Focuses on acquiring, developing and commercializing anti-cancer agents. N/A 149.5 06/23/11 78 LipoScience Inc MT Develops and markets diagnostic tests. It develops NMR LipoProfile test based on Nuclear Magnetic Resonance. 40.5 86.3 04/15/11 147 Lucid Inc MT Engages in the development and sale of noninvasive diagnostic confocal imagers for assessing skin lesions for skin cancer. 2.3 28.8 03/30/11 163 Insys Therapeutics Inc BT Develops pharmaceutical products that target the unmet needs of cancer patients, with a focus on cancer- supportive care. N/A 55.0 02/14/11 207 Targeted Medical Pharma Inc BT Develops and commercializes nutrient- and pharmaceutical-based therapeutic systems. 17.1 30.0 02/10/11 211 Primus Therapeutics Inc BT Develops, markets and sells consumer self-care products for preventing and ameliorating the symptoms of common ailments. N/A 18.0 12/23/10 260 Supernus Pharmaceuticals Inc BT Focuses on developing and commercializing products for the treatment of central nervous system diseases 12.2 100.0 12/21/10 262 NewLink Genetics Corp BT Focuses on discovery and development of novel immunotherapeutic products to improve cancer treatment

  • ptions.

1.8 86.3

Diagnostics Capital Markets Overview Diagnostics Capital Markets Overview

Li Life S fe Sciences es IPOs i IPOs in Regi Registr strati tion

  • n

Source: Dealogic. Note: Life Sciences refers to Biotechnology, Medical Technology, and Diagnostics transactions. For this analysis, Diagnostics transactions were included within the Medical Technology sector. Excludes companies in registration beyond 300 days. 1) Days in Registration as of 9/9/11.

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Economic Indicators Economic Indicators

Vo Volatil latility, ty, Flow Flow of Funds

  • f Funds

Source: Capital IQ as of 8/26/2011.

U.S. M Mutu tual F Fund Equity ty Flows S s Since 2 2008 (i (in m millions)

($50,000) ($40,000) ($30,000) ($20,000) ($10,000) $0 $10,000 $20,000 J a n

  • 8

M a r

  • 8

M a y

  • 8

J u l

  • 8

S e p

  • 8

N

  • v
  • 8

J a n

  • 9

M a r

  • 9

M a y

  • 9

J u l

  • 9

S e p

  • 9

N

  • v
  • 9

J a n

  • 1

M a r

  • 1

M a y

  • 1

J u l

  • 1

S e p

  • 1

N

  • v
  • 1

J a n

  • 1

1 M a r

  • 1

1 M a y

  • 1

1

Domestic Equity Funds International Equity Funds

Volati tility ty I Index Since 2 2008

10.0 20.0 30.0 40.0 50.0 60.0 70.0 80.0 90.0 J a n

  • 8

M a r

  • 8

M a y

  • 8

J u l

  • 8

S e p

  • 8

N

  • v
  • 8

J a n

  • 9

M a r

  • 9

M a y

  • 9

J u l

  • 9

S e p

  • 9

N

  • v
  • 9

J a n

  • 1

M a r

  • 1

M a y

  • 1

J u l

  • 1

S e p

  • 1

N

  • v
  • 1

J a n

  • 1

1 M a r

  • 1

1 M a y

  • 1

1 J u l

  • 1

1

Source: ICI as of 6/30/11.

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Economic Indicators Economic Indicators

2005 – 05 – 201 011 YTD U 1 YTD U.S. Med

  • S. Med Tech IPOs: Re

Tech IPOs: Revenue Stage Effect venue Stage Effect

Source: Capital IQ as of 9/9/2011.

$0 $50 $100 $150 $200 $250

HLCS ROS ETRM XTNT HNSN NSTR MELA DXCM KIPS CRYO MAKO CRDC BGM II GNM NSPH PACB GHDX GNO BMTI NXTM HEM PODD REST RGDX PMII TSON ELMD MEND ATRC SENO CMED KH FLDM LMAT GXDX THRM CYNO ATEC BFRM IMRS BEAT EVVV VOLC ARAY HDIX MR TTPY AGAM TRNX MASI

(100%) (50%) 0% 50% 100% 150% 200% 250% 300% Re Revenue at O Offer ( ($M) Pric ice Pe Perfo rformanc nce Sinc Since IPO No No R Revenue Reve Revenu nue < $20M < $20M Reven venue > $2 > $20M

(13. 3.7% 7%) 8.9 8.9% (72. 72.2%) 2%)