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When Cash is King - Strategies and Trends for Royalty Monetization

Tuesday, February 10th
11:00 am - 12:10 pm
East Foyer

Alternate financing strategies are a hot topic these days as more and more companies turn to sources other than Wall St. to fill their cash coffers.  The concept of monetizing royalties is not a new one, but as the market for these transactions has matured, so should a biotech company’s thinking about the best strategies and tactics for negotiating deals of their own.  Participate in a discussion with top royalty investors and industry executives, as they review the critical factors to consider in evaluating and executing a monetization deal and how to extract the most value from your assets.

Moderator

Panelists

Who's Who

Richard G. Gervase; Mr. Gervase is a member in the firm's New York and Stamford CT offices, practicing in the Intellectual Property Section.  He advises clients on all aspects of intellectual property litigation, including patent, copyright, trademark, and trade secret litigation and related antitrust and unfair competition matters. He has represented numerous Fortune 100 companies in patent infringement cases nationwide.  A registered patent attorney, he regularly counsels companies in the development, protection, and licensing of their intellectual property portfolios and provides advice on intellectual property strategy in general. He also provides patentability, infringement and validity opinions, and performs intellectual property audits, due diligence, and valuations of IP assets in corporate transactions, including M&A and underwritten transaction. He also serves on Mintz Levin's opinion committee.  He is the head of the Intellectual Property Section's Medical Device Practice Group. He has extensive experience advising medical device, biotech and hi-tech clients in a variety of intellectual property transactions, including structuring and negotiating intellectual property license agreements, acquisitions, strategic alliances, collaboration agreements, sponsored research agreements, materials transfer agreements, software, database, content and data licenses, software escrow agreements, work-for-hire agreements, and ASP agreements.  He also has substantial experience in the monetization and securitization of royalty streams and other intellectual property assets.  Prior to joining Mintz Levin, he was Senior Attorney at the intellectual property law firm of Fish & Neave in New York City. He began his legal career with Brown & Wood, where he practiced in the Securities and Mergers and Acquisitions departments.  He is a registered patent attorney admitted to practice before the United States Patent and Trademark Office. He is a member of the New York and New Jersey State Bars and is admitted to practice before the District Courts in the Southern and Eastern District of New York, the Court of Appeals for the Federal Circuit, and the U.S. Supreme Court. He earned his B.S. in electrical engineering from Rutgers College of Engineering (1986). He was awarded his J.D., cum laude, from Rutgers University School of Law (1989), where he was an Articles Editor for the Rutgers Law Journal. He is an active member of the Licensing Executive Society, American Intellectual Property Law Association and New York Intellectual Property Law Association, and serves on the Litigation Committee and the Patent Misuse and Antitrust Committees of the latter two organizations.

Gregory B. Brown, M.D.; Dr. Brown is a founder, Managing Director and a member of the Investment Committee of CHRP, with close to twenty years of healthcare finance experience. Prior to CHRP, Dr. Brown was a partner at Paul Capital Partners where he was responsible for global sourcing for the Paul Royalty Funds in addition to being primarily responsible for the execution and management of more than $235 million in royalty-related investments. While at Paul Capital from 2003-2006, he co-managed the Paul Royalty Funds and served on that firm’s operating committee. Prior to that, Dr. Brown was the co-head of investment banking at Adams, Harkness & Hill (now Canaccord Adams) where he worked from 1997-2002. From 1992-1997, Dr. Brown was at Vector Securities both as a healthcare investment banker and a Wall Street Journal “All-Star” biotechnology research analyst. Dr. Brown has been a practicing thoracic and vascular surgeon and founded an HMO prior to attending business school as a Merck fellow. Dr. Brown holds an A.B. from Yale College, an M.D. from S.U.N.Y. Upstate Medical Center, and an M.B.A. from Harvard Business School.

Michael Herman; Michael Herman is a Senior Vice President of the Royalty Investments group at Royalty Pharma, a company that invests in revenue producing intellectual property in the healthcare sector.   Prior to joining the predecessor of Royalty Pharma in 1996, Mr. Herman consulted for several financial concerns, including Apollo Advisors, Société Géneralé, and International Technology Investment Managers, the general partner of the “proof of principle” funds from which came Royalty Pharma.  From 1991 to 1994, Mr. Herman was an analyst in the fixed income division of Lehman Brothers.  Mr. Herman has spoken at various conferences sponsored by organizations such as Licensing Executive Society, Association of University Technology Managers, World Research Group, Drug Discovery Technology and American Conference Institute.  Mr. Herman is a member of AUTM, LES, BIO and NYBA.  Mr. Herman received a B.A. in Economics and Psychology, with honors, from the University of Michigan.

Timothy E. Morris, CPA; Mr. Morris, has been Vice President, Finance and Chief Financial Officer since November 2004. Prior to joining VIVUS, Mr. Morris served as member of the office of the president, chief financial officer and senior vice president of finance & administration at Questcor Pharmaceuticals Inc. from September 2001 to November 2004. Prior to this position, Mr. Morris served as vice president of finance & administration and chief financial officer at RiboGene, Inc., the predecessor company to Questcor, from May 1995 to October 1999. Prior to RiboGene, Mr. Morris was at Glycomed Incorporated from May 1992 to May 1995 most recently as chief accounting officer, acting chief financial officer and senior director, finance. Mr. Morris earned a BS degree, cum laude, in Business with an emphasis in Accounting from California State University, Chico, and in 1996 Mr. Morris became a certified public accountant.

William Reiland; Bill Reiland is responsible for originating, structuring, and marketing royalty monetizations, mezzanine financings, and private equity transactions. Prior to joining Leerink Swann, Mr. Reiland served as Managing Director at Morgan Stanley. During his 15-year career at Morgan Stanley, Mr. Reiland held numerous positions in Healthcare, including investment banker, research analyst, Head of High Yield Research, and most recently as Managing Director of Morgan Stanley Principal Investments, a $3 billion internal private equity investment group. Mr. Reiland also co-developed Morgan Stanley’s successful royalty monetization program. As a banker, Mr. Reiland has advised on approximately 70 healthcare financing transactions totaling over $25 billion in value. In addition, he has served on the Board of Directors of several services and pharmaceutical companies, including US Oncology Holdings and JHP Pharmaceuticals. Prior to joining Morgan Stanley, Mr. Reiland worked at Bain & Company and Fidelity Management and Research. He holds a B.A from Yale and an MBA with distinction from the Amos Tuck School of Business at Dartmouth College, where he was a Tuck Scholar.