Business Roundtable
Mind the Gap: Pharma Chasing Biotech Assets
Tuesday, February 12, 2008
3:30 PM
West Foyer
Facing impending patent expirations and a dearth of novel drug candidates in its pipeline, Big Pharma is willing to take big risks on Biotech assets. The prices paid to the more entrepreneurial and innovative biotech companies in recent licensing deals, particularly for earlier-stage programs, have been significant and demonstrate Pharma's desire to strengthen its pipeline, broaden its IP and technology base, and keep competitors at bay. This discussion will focus on waht therapeutic areas and mechanisms Pharma is chasing to fill its pipeline, how these deals are being valued, and how investors perceive these transactions. The panel will also discuss how a biotech company can get validation from a Pharma partner and still retain enough rights to maintain sufficient upside and independence.
Moderators
- Jeff Greene; E&Y Partner, Biotech & Pharmaceutical Transaction Advisory Services Leader, Ernst and Young
Panelists
- Doug Fambrough; General Partner, Oxford Bioscience Partners
- Safi Bahcall; Director, President and CEO, Synta Pharmaceuticals
- Roger Longman; Windhover Information Inc, Managing Partner
- Aaron S. Reames; Senior Analyst, Equity Research, Wachovia Capital Markets, LLC
- Dr. Robert J. Wills; Vice President, Alliance Management, Pharmaceuticals Group, Johnson & Johnson
Who's Who
Aaron S. Reames serves as a senior analyst in equity research for Wachovia Capital Markets, LLC, where he offers a small- to mid-cap biotech focus in the areas of oncology, CNS, and infectious disease, commingled with interest in biopharmaceutical optimization, antisense, RNAi, and glycomics. Prior to his career as a sell-side analyst, Mr. Reames worked as the director of the Biotechnology Group for JPS Capital where he led licensing deals, M&A transactions and partnerships. Mr. Reames worked with and/or represented companies, such as DuPont, AstraZeneca, Aventis, MedImmune, Pharmacia and Novartis. Prior to joining JPS Capital, Reames was a performance measurement and investment analyst at Banc One Investment Advisors, the investment arm for Bank One Corporation, now JP Morgan Chase & Co. While there, Mr. Reames completed his MBA at Franklin University in Columbus, Ohio. Mr. Reames brings 11 years of laboratory experience in the fields of biotechnology and molecular genetics. He began his training in molecular genetics at Ohio State University from which he received a BS in biology. From his research initiatives, Mr. Reames has received accolades from former President of the United States George Bush and the governor of Ohio. He is also honored to have received commendations from the U.S. Navy, Army, and Marine Corps for excellence in research and recognition from the American Academy for the Advancement of Science, National Academy of Science, National Association of Biology Teachers, American Society for Microbiology and NASA. Mr. Reames was an adjunct professor of finance at Columbus State.
Dr Wills is Vice President, Alliance Management, Johnson & Johnson. He is responsible for managing strategic alliances for the Pharmaceutical Group worldwide. This includes the relationships for Velcade, ceftobiprole, rivaroxaban, telaprevir, tapentadol, Yondelis and others. As head of Alliance Management, he oversees a small group of professionals who play an active role in the negotiations of alliances (structure, governance, dispute resolution, communication), in leading the integration post-signing and in managing the overall alliances. Prior to moving into this role in late 2001, Dr Wills spent 22 years in pharmaceutical drug development including, 12 of which have been at Johnson & Johnson. In his previous role as Sr Vice President Global Development, he was responsible for the R&D pipeline and a member of the R&D Board of Directors. In addition he served on several of the commercial Operating Company Boards and key pharmaceutical group decision-making committees. Dr Wills began his career at Hoffmann-LaRoche where he spent 10 years in several roles of scientific responsibility. Much of Dr Wills? accomplishments are related to his R&D career, which included the successful development of over 30 NDA?s, PLA?s, MAA?s in multiple therapeutic areas. He has authored over 40 peer reviewed research articles, 5 book chapters, and 50 professional presentations or abstracts in the area of pharmacokinetics. Dr Wills holds a B.S. in Biochemistry and an M.S. in Pharmaceutics from the University of Wisconsin and a Ph.D. in Pharmaceutics from the University of Texas.