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State of the Industry A view from the West David Thomas Director, Industry Research & Analysis BIO BIO Europe Spring March 11, 2013 1 BIOTECHNOLOGY INDUSTRY ORGANIZATION PRESENTATION TITLE IN FOOTER MONTH XX, 2012 U.S. IPOs:


  1. State of the Industry A view from the West David Thomas Director, Industry Research & Analysis BIO BIO Europe Spring March 11, 2013 1 BIOTECHNOLOGY INDUSTRY ORGANIZATION PRESENTATION TITLE IN FOOTER MONTH XX, 2012

  2. U.S. IPOs: Returning to “Normal”? Performance Since IPO Date CLASS: 2009 2010 2011 2012 2013 3 (3) 17 (12) 13 (8) 13 (11) 3 (2) Total # (therapeutic #): Source: Factset, BIO Industry Analysis, March 6, 2013

  3. 20 YEARS OF BIOTECH (Nasdaq Biotechnology Index, NBI) 1611 1580 1994 2000 2005 2010 2013 Source: Factset, BIO Industry Analysis, March 6, 2013

  4. U.S. IPOs: Returning to “Normal”? Performance Since IPO Date CLASS: 2009 2010 2011 2012 2013 Raised vs Filed Amount Source: Factset, BIO Industry Analysis, March 6, 2013

  5. Fewer Pipeline Acquisitions Pipeline Acquisitions $>10M Source: BIO Industry Analysis, Elsevier Database, March 2013

  6. Fewer Pipeline Acquisitions Fewer Pipeline Alliances Pipeline Acquisitions Pipeline Alliances $>10M $>10M Source: BIO Industry Analysis, Elsevier Database, March 2013

  7. M&A: BIOBUCK Breakout in 2012! Acquisitions >$10M Private Company Source: BIO Industry Analysis, Elsevier Database, February 2013

  8. Good news for VCs: Expanding multiples on upfronts Total Deal Value/Invested Capital 7 6.2 Median Multiple on Upfront 6 5.1 5 4.6 Multiple 3.7 4 3.5 3.5 3.4 3.2 3.1 3 2.5 2 2.0 2.0 1.8 1.6 1.5 1 1.0 0 2005 2006 2007 2008 2009 2010 2011 2012 Source: HBM Partners, January 2013

  9. Time to Pharma Acquisition: Getting Longer and Longer Source: HBM Partners, January 2013

  10. Venture: Pharma to the Rescue? Source: BIO Industry Analysis, BioCentury’s BCIQ, March 2013

  11. Pharma VC backing: A Higher Step-Up at M&A Average Step-Up at Acquisition N=24 N=84 Source: Elsevier’s Start -Up, October 2012

  12. Breakouts Everywhere! • Biotech Index • FDA Approvals • Orphan Indication Approvals • IPO performance • Big Earnout structures • Step-ups on VC acquisition exits • Corporate Venture Capital Source: BIO Industry Analysis, March 2013

  13. www.BIOtech-now.org 13 BIOTECHNOLOGY INDUSTRY ORGANIZATION PRESENTATION TITLE IN FOOTER MONTH XX, 2012

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