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Plenary Session

"The Challenge of Meeting the Pipeline Productivity Expectations of the Street"

Tuesday, February 14, 2006
7:45 AM
Grand Ballroom

By many measures, the biotech industry is coming of age. The number of companies with market caps of $1 billion+ is steadily growing and there is cautious optimism that this trend will continue. How will the industries leading companies maintain this growth? There is no question that successful biotech companies must build a robust and productive product pipeline in order to sustain their business and meet the EPS expectations of the street. Do you build the pipeline from within? Do you acquire to add to and/or expand into new therapeutic areas? Do you do both? These CEOs will discuss their strategies for maintaining growth and building their business for the long term. The industry experts will share their views on what they think works and their expectations.

Moderators

Panelists

Who's Who

Michael Hildreth: Americas leader for Ernst & Young's Biotechnology practice, Michael Hildreth, develops go-to-market strategies and relationship development processes for the industry. A graduate of Stanford University, he has been practicing public accounting for over 23 years, the last twenty of which have been with Ernst & Young. Mike is a recognized leader in assisting leading biotechnology companies with strategic alliances as well as public and private equity offerings. He also regularly consults with clients and colleagues on complex accounting, auditing, and financial strategies matters. In late 1999, the Venture Capital Advisory Group was created under Mike's leadership. This unit is dedicated to serving the needs of the venture capital community. Mike is a frequent speaker on emerging industry, SEC, and growth company issues. He co-developed E&Y's IPO Transformation process and is a contributing editor for Ernst & Young's annual biotechnology report. Mike is also a member of the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants.

Leon O. Moulder, Jr.: Lonnie Moulder has served as President and CEO of MGI PHARMA since 2003. He joined MGI PHARMA in 1999 as Executive Vice President and assumed the role of President and Chief Operating Officer in May 2002. Prior to joining MGI PHARMA, he was part of the founding management team and Vice President, Business Development and Commercial Affairs, of Eligix, Inc., a venture-stage biomedical company that was based in Boston, MA. This followed 16 years of various commercial roles with Hoechst Marion Roussel (now Sanofi Aventis) and its predecessor companies, Marion Laboratories and Marion Merrell Dow. Mr. Moulder's tenure at HMR culminated as Product Group Director, Oncology and Anti-Infective Products. He currently serves as a board of director for Methylgene, Inc. and Medical Alley/MNBIO. Mr. Moudler received a BS in pharmacy from Temple University in 1980 and began his career as a clinical pharmacist. He also holds a MBA from the University of Chicago.

Joshua S. Boger, PhD: Dr. Boger is Vertex's scientific founder and was Senior Director of Basic Chemistry at Merck Sharp & Dohme Research Laboratories. He headed both the Department of Medicinal Chemistry of Immunology & Inflammation and the Department of Biophysical Chemistry. In 10 years at Merck, he developed an international reputation as a leader in the applications of computer modeling to the chemistry of drug design. He applied these techniques to the design of compounds in a number of therapeutic areas, including aspartic protease inhibitors. Dr. Boger received a B.A. in Chemistry and Philosophy from Wesleyan University, and M.A. and Ph.D. degrees in Chemistry from Harvard University in the laboratories of Professor Jeremy Knowles. He did postdoctoral research in molecular recognition in the laboratories of Professor Jean-Marie Lehn in Strasbourg, France.

William S. Slattery: Since 2000, William S. Slattery has been a Partner at Deerfield Management Company with primary responsibility over biotechnology investments. Deerfield is a dedicated healthcare investment fund with over $1.5 billion under management. From 1992 through 1999, Bill was the Senior Healthcare Analyst at Amerindo Investment Advisors, Inc., also specializing in biotechnology and health information technology. Prior to 1992, Bill held a variety of research and administrative positions in clinical development and alternative care settings. He received his BSc in Biochemistry from the State University of New York at Albany and attended graduate School at Rutgers University.

Richard DiMarchi, PhD: Richard DiMarchi is the Linda & Jack Gill Chair in Biomolecular Sciences and Professor of Chemistry at Indiana University. He is a retired Group Vice President at Eli Lilly & Company where for more than two decades he provided leadership in biotechnology, endocrine research and product development. He currently serves as a co-founder and Board Chairman of Ambrx, Inc. He previously served as a board member to the biotechnology trade group BIO and the American Peptide Society, as well as such companies as Millennium Biotherapeutics and Inproteo. He currently serves as Board member to Isis Pharma. and Alba Inc. He is a scientific advisor to Epitome Biosciences, Kai Pharmaceuticals, Semafore Biotechnologies, 5AM Ventures, and Twilight Ventures. Professor DiMarchi is readily recognized for discovery and development of rDNA-derived Humalog® (LisPro-human insulin). This designer insulin represents the first demonstration that structurally altered rDNA-derived biosynthetic proteins can improve pharmacological performance without increasing the risk of an abnormal immunological response. As scientist and administrator Dr. DiMarchi participated in the commercial development of Humulin®, Humatrope®, Xigris®, and Forteo®. The goal of his current research and commercial endeavors is to develop proteins with enhanced therapeutic properties through biochemical optimization with non-natural amino acids, an approach he has termed chemical-biotechnology. He recently received the 2005 AAPS Research Achievement Award in Biotechnology and the 2006 ACS Earle B. Barnes Award for Leadership in Chemical Research Management.

Colin Goddard, PhD: Dr. Colin Goddard has led the transition of the organization from a technology platform services company into today's fully integrated organization built around three independent business units focused on oncology, eye diseases and diabetes and through the approval and launch of the Company's flagship product Tarceva™. Dr. Goddard, was appointed Chief Executive Officer of the Corporation in October 1998. He served as the Company's President from September 1997 to September 2000; Executive Vice President and Chief Operating Officer from September 1996 to September 1997; Vice President, Research Operations from April 1995 to September 1996; Vice President, Research Operations, Pharmaceutical Division from December 1993 to April 1995; Director, Pharmaceutical Operations from April 1993 to December 1993; Director, Drug Discovery from April 1992 to April 1993; and Program Manager, Drug Discovery from April 1991 to April 1992. Dr. Goddard joined the Corporation as a scientist in January 1989. Dr. Goddard also served as Chairman of the Board from 2000-2002. Dr. Goddard has also led the Company's corporate development, acquisition and financing efforts in recent years, completing multiple major acquisitions and divestitures and raising over $1.2 billion in capital. Dr. Goddard is active in many organizations which promote the advancement of cancer treatment and awareness, science education and the biotechnology industry, including: Board of the Biotechnology Industry Association (BIO), Cancer Care of Long Island, the Long Island Association, and the Winston Churchill Foundation of the United States. He is a member of the American Association of Cancer Research. Before joining the Corporation, Dr. Goddard spent four years at the National Cancer Institute in Bethesda, Maryland. Dr. Goddard trained as a cancer pharmacologist in Birmingham, U.K. and received his Ph.D. from the University of Aston, Birmingham, U.K. in September 1985.