Pharma-Biotech Product & Company Valuation
An Introductory Course
Understand the valuation concepts and techniques that are commonly applied in the pharma and biotech world – Know how to assess and calculate the value of a biotech company – Learn how to calculate the value of a pharmaceutical in development and how to structure a licensing deal.
Dr. Patrik Frei
- Europe’s top valuation expert of high-growth life science companies.
- Patrik is Founder & CEO of Venture Valuation AG, specialists in independent assessments and valuation of emerging high-growth companies in biotechnology and life sciences.
- Patrik and his team carried out valuations for the Novartis Venture Fund.
- Owner of Biotechgate, the global life science database. Leave your details here for more information.
By Attending This Course, You Will
- Know what determines the value of life science biotechs and emerging pharma companies.
- Gain a thorough understanding of key valuation terms, concepts, tools & techniques.
- Be able to assess the risk profile of a biotech company prior to its valuation.
- Learn and practice how to calculate the value of a biotech company.
- Learn and practice how to calculate the value of a development compound (using an Excel tool you can take home and use for any other compound in development).
- Know how to structure licensing deals between pharma and biotech, covering issues such as milestones and royalty payments.
Why You Should Attend
Valuation is an inherently subjective task which is made even more difficult in the life science industry due its unique challenges: high attrition rates in R&D, long investment cycle, complex technologies and IP situations, etc. Therefore, traditional valuation methods are not suitable.
The Content: This course is designed to teach you a systematic approach to producing a valuation which can be used in investment rounds, mergers/acquisitions, licensing deals or strategic development decisions in the pharma-biotech world. It goes beyond the number-crunching techniques of most consultants and includes difficult to define qualitative factors which shape the risk profile of the company in question.
The Expert: Patrik Frei is a leading expert in the valuation of life science companies and his combination of knowledge and experience allows him to speak with authority on the subject. Patrik wrote the first book on the valuation of high-growth companies and holds a Ph.D in the field. His company, Venture Valuation, has completed over 400 independent company and product valuations.
The Pharma-Biotech Product & Company Valuation - An Introductory Course is the only available public training course delivered by Patrik Frei on the topic of Valuation.
Executives from biotech start-ups are eligible for a considerable discount on the registration fee of this course. More Details
09:30 Registration & Welcome coffee
10:15 Introduction to Valuation: What – Why - When
- Scope of this course
- Basics about valuation
- The main drivers of valuation: measuring risk vs. return
11:00 How to Assess a Company Prior to Valuation
- Why is it important to assess a company before doing a valuation
- The three key assessment areas: management – technology – market
- The 20 factors required to assess a company
11:30 Coffee Break
11:45 Company Valuation - Interactive Lecture:
- An overview of approaches for valuing life science companies (e.g. option pricing) and why simple approaches work best
- Focus on the most used company valuation methods
- Discount Cash Flows
- Venture Capital method
- Market / Deal comparable
- Valuation in practice – discussion of a historical case
Group work on a case study:
- The audience will be broken up in groups. After reading the case, each group has the opportunity to calculate the value of a life science company. The groups will then present and discuss their results in a plenary discussion.
14:15 Product Valuation & Deal Structuring - Interactive Lecture:
- Difference between company and product valuation
- What information do you need? - How to gather the information?
- Overview of product valuation methods
- In-depth explanation of the most frequently used technique in Pharma & Biotech: the Risk-adjusted Net Present Value (rNPV)
- How to calculate the value of a company from several product valuations
- Given an rNPV, how to decide on the best deal structure (upfront payment?...milestone payments?...royalties?)
- How to use the product valuation to determine a suitable deal structure?
Group work on a case study:
- The audience will be broken up in groups. After reading the case, each group has the opportunity to calculate the value of a pharmaceutical product in development. The groups will then present and discuss their results in a plenary discussion
- Coffee will be served during the case study workshop
16:45 Final Discussion & Wrap-up
This course optimally balances interactive lectures with practical group work exercises which are designed to help you practice the fundamental valuation tools & techniques taught throughout the day.
Of particular value in this course is the Product Valuation and Deal Structuring module where you will learn the commonly used rNPV (risk-adjusted Net Present Value) method for calculating the value of a drug in development. Subsequently, you will practice how to structure a licensing deal between companies. You will use an Excel-based tool designed specifically for this module (which can be taken home).
One of the most valuable aspects of attending any C.E.L.forpharma course is not only being able to have your specific questions answered by a leading expert, but also having the opportunity to share experiences and have in-depth discussions with your international peers.
Who Should Attend?
This is an introductory course and therefore very valuable for pharma and biotech executives who are not familiar with compound and company valuations but need a thorough understanding of the valuation concepts and techniques that are commonly applied in the pharma and biotech industries.
Below is a non-exhaustive list of past participants who have benefited from attending this course.
|Corp. Business Development Manager||ALK||Denmark|
|Executive Evaluation Director, CVGI||AstraZeneca||Sweden|
|Portfolio & Business Development Manager||AstraZeneca||Japan|
|Head of BD||Avexxin||Norway|
|Technical Assessment Analyst||Baxter||Austria|
|Director, Business Development & Alliance Management||Camurus||Sweden|
|Vice President Business Development||Cellectar Biosciences||USA|
|Senior Director Business Development||Celonic||Switzerland|
|Corporate Development & Licensing Manager||Chiesi||Italy|
|Senior Manager Business Development & Licensing||Daiichi Sankyo||Germany|
|Head of Operations||EATRIS||Netherlands|
|Technology Transfer Specialist||Genoma Espana||Spain|
|Director Corporate Development||Immune Pharma||USA|
|New Business Development Manager||Janssen||UK|
|Business Development Manager||JSC Farmak||Ukraine|
|Director, Life Sciences||Licentia||Finland|
|Associate Director - Corporate Business Development||Lundbeck||Denmark|
|Business Development Director||Medical Futures||Canada|
|Director, Strategy and Business Operations||Merck Serono||Germany|
|Managing Director||Monitus Research||United Kingdom|
|Senior Manager Business Development||Morphosys||Germany|
|CEO||NewLab Life Sciences||Canada|
|Marketing and Business Development||Pharmabio-MBD||France|
|Managing Director - Dermatology & Cosmetics||Pierre Fabre||Germany|
|General Manager||Pnn Medical||Switzerland|
|Director of Business Development||Roche||USA|
|VP Finance & Business Development||Siena Biotech||Italy|
|Head of International Marketing Intelligence||Sigma-Tau||Italy|
|Strategy Analyst||Sotio||Czech Republic|
|Valuation and Compliance Officer||Sterling IP||UK|
|Director Business Development||Therabel||France|
|Attorney at Law||Ventac Partners||USA|
|Senior Business Development Manager||VIB||Belgium|
|Director, Business Development||Vifor Pharma||UK|
|Business Development Manager||VU Medical Center||Netherlands|
|Investment Executive||WDC Investment Fund||Ireland|
|Pipeline Development & Science Intelligence||Zambon||Italy|
Dates & Locations
All C.E.L.forpharma courses are held in top-class four or five star hotels situated in easily accessible locations, either close to an international airport or near public transportation links in city centre locations.
7 October 2016, Zurich
This course takes place at the Hilton Zurich Airport Hotel which is located just five minutes from Zurich Kloten Airport with the complimentary shuttle. Zurich’s vibrant city centre is located only a fifteen minutes’ drive away.
Hilton Zurich Airport Hotel
Tel: +41 44 828 50 50
Hotel Booking Assistance
Having built a strong relationship with each hotel, C.E.L.forpharma has secured preferential room rates for our delegates who book their accommodation three weeks or more prior to the course. Upon your registration, we will help you make your hotel booking.
For any assistance in this matter please do not hesitate to contact Sarah Nissen, Programme Coordinator (email@example.com, tel +32 (0)2 709 01 46).
Included in the Registration Fee
- Course Material (Digital & Print Versions)
- Coffee, Tea & Refreshments During the Course
- Lunch During the Course
- Certificate of Attendance Signed by the Expert
Special Offer for Biotech Executives
Executives from biotech start-ups (companies that do not have products on the market yet) are eligible for a €400 discount on the full registration fee of this course. Please contact Annelies Swaan, Head of Business Operations (firstname.lastname@example.org) for more details.
Team discounts can be offered to 3 or more delegates from the same company. Contact Annelies Swaan, Head of Business Operations, (email@example.com) for more details.
Transfer & Cancellation Policy
- If a registrant cannot attend the scheduled course, he/she can avoid any cancellation charge by sending a suitable replacement participant.
- Alternatively, the registrant can transfer once on a “space available” basis at no extra cost, until 1 week prior to the event, to another course held within one year of the original course date.
- Cancelling 5 weeks or more prior to the course: cancellation fee of €250.
- Cancelling 4 to 3 weeks prior to the course: 25% of the invoiced registration fee.
- Cancelling 14 to 7 working days prior to the course: 50% of the invoiced registration fee.
- Fewer than 7 working days or if no notification received: registrant liable to pay invoiced registration fee.
- If a registrant postpones his/her participation to a future course, and cancels again, no refund can be claimed for paid registration fees.