Dr. Patrik Frei

Pharma-Biotech Product & Company Valuation

An Introductory Course

With Dr Patrik Frei

Course Details

In the high-stakes world of biotechnology and pharmaceuticals, traditional valuation methods fall short. The industry presents unique challenges that require specialised expertise:

  • High R&D Attrition Rates

  • Extended Investment Cycles

  • Complex IP Landscapes


This hands-on course equips you with practical valuation tools essential for:

  • Financing rounds and investment decisions

  • Mergers & Acquisitions (M&A)

  • Licensing deals and partnerships

  • Strategic development planning

  • Portfolio optimisation


A Unique Learning Experience:

  1. Expert-Led Instruction: Learn directly from a seasoned life science valuation specialist

  2. Peer Learning: Connect with international peers facing similar challenges

  3. Real-World Applications: Practise on actual case studies and industry scenarios


Join a select group of professionals who understand that accurate valuations are the foundation of successful deal-making in the pharma & biotech world.
 

The course provided a solid overview of key valuation principles in pharma-biotech. It helped clarify important concepts and offered useful tools for structuring product evaluations. A good resource for professionals involved in BD&L or strategic assessments.

Dr. Falk Pharma

Samer Ahmed, Head of Global Commercial New Products - Germany - April 2025

  1. A methodology for assessing and optimising the risk profile of a life science company prior to valuation.

  2. The different valuation methods used for life science companies and products.

  3. How to calculate the value of a biotech or life science company using the Discounted Cash Flow method/rNPV, comparables, and Venture Capital method.

  4. How to use risk-adjusted Net Present Value (rNPV) to calculate the value of a pharmaceutical compound in development.

  5. How to structure the licensing deal between companies, covering issues such as milestone and royalty payments.

Course agenda

 

This course is perfect for anyone in BD, especially those new to valuations. The presentation and materials were excellent. The group sessions and case studies were very effective and valuable, and the interactions really enhanced the overall experience.

AOP Health

Elisabeth Schön, Manager Business Development - Austria - April 2025

 

 

 

Welcome (~30 min)
Introduction to Valuation: What – Why – When (~45 min)
  • Scope of this course
  • Basics of valuation
  • The main drivers of valuation: measuring risk vs. return
How to Assess a Company Prior to Valuation (~30 min)
  • Why is it important to assess a company before doing a valuation
  • A framework to assess risk and value drivers in a company valuation, focusing on 3 key areas: Management – Science & technology – Market environment
  • How the risk defined during the assessment is translated to discount rates used in valuations
Valuation of Lifescience Companies: Methods - Dos & Don’ts (~1 h)
  • An overview of approaches for valuing life science companies by category: operations-based, market-based, and mixed methods
  • The most frequently used company valuation methods - Pros & cons of each method: 
    • Discounted Cash Flows using Terminal Value, Discount Rate and WACC
    • Venture Capital method
    • Market/Deal comparable
  • Valuation in practice – discussion of a historical case
Group Work on a Company Valuation Case Study (~45 min)
The audience will be divided into groups. Each group will calculate the value of a life science company from a pre-read case study. The groups will then present and discuss their results in a plenary session. 
Lunch Break
Product Valuation: The rNPV Calculation Method - Dos & Don’ts (~1 h)
  • Difference between company and product valuation
  • In-depth explanation of the most frequently used technique in Pharma & Biotech: the five-step process to calculate Risk-adjusted Net Present Value (rNPV)
  • What information do you need? - How to gather the information?
  • How to calculate the value of a company from several product valuations
From Valuation to Deal Structure (~30 min)
  • A four-step process to structure the deal, starting from the valuation
  • Using the valuation model to calculate the present value and risk-sharing of a deal 
Group Work on a Product Valuation Case Study (~45 min)
The audience will be divided into groups. Each group will calculate the value of a pharmaceutical product in development. The groups will then present and discuss their results in a plenary discussion.
Final Discussion & Wrap-up (~30 min)

 

Download Brochure

 

Complete the below form to download the full course brochure. It outlines the detailed agenda, learning outcomes, expert info and some testimonials from past participants.

  • Dr Patrik Frei is Founder & CEO of Venture Valuation, specialists in independent assessments and valuation of emerging high-growth companies in biotechnology and life sciences.

  • He is Europe’s top valuation expert of high-growth life science companies and the author of Assessment and Valuation of High Growth Companies. He and his team have carried out valuations for the Novartis Venture Fund.

  • He is the owner of Biotechgate, the global business development database for the life science industry. Leave your details here for more information. 

  • Patrik has been on CELforPharma’s faculty since 2007 and is always praised by participants for being an excellent speaker who generously shares his wealth of expertise.
     

Patrik takes the time to walk through everything, from the basics to more advanced topics. It was also a great refresher on foundational concepts and helped me see valuation as simple within its complexity. I appreciated how condensed concepts and practical application were brought together in one place.

argenx

Ana Kosoy, Senior Director Business Development - Spain - April 2025

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. 

Would you like to receive a list of anonymised participant profiles from previous sessions? 

Email Annelies Swaan

 

 

UPCOMING DATES & FORMATS - FEES

25 September 2025

Live online (CET timing)

Early bird € 1 470

(until 22/08/2025)

(Full fee € 1 670)

 


TIMING & LOCATION

  • Live Online (CET): Zoom sessions between 9 AM and 5 PM CET (Brussels, Amsterdam, Paris time).

  • Live Online (EST): Zoom sessions between 8 AM and 4 PM EST (Eastern Standard Time).

  • Face-to-Face: Held at the Crowne Plaza Brussels Airport (Da Vincilaan 4, 1831 Brussels), between 9 AM and 5 PM CET. Preferential hotel rates available for participants.

All practical details will be shared upon registration. For any questions, please contact Margherita Mutto or call +32 472 03 11 38 .

 

SPECIAL OFFER FOR BIOTECH EXECUTIVES

Executives from biotech start-ups (companies that do not have products on the market yet) and academia can apply for a € 400 discount. Please email Annelies Swaan, Director Business Operations, for more details.  

 

GROUP DISCOUNTS

Team discounts can be offered to 2 or more delegates from the same company.

Email Annelies Swaan, Director Business Operations, for more details. 

 

HOW TO REGISTER

  • Click the green “Register” button on your preferred course session.
    The registration wizard will guide you through the process.

  • Alternatively, download the offline registration form and send the completed form to Annelies Swaan.

 

PAYMENT OPTIONS

  • Credit Card: You’ll receive a secure payment link with your invoice (no immediate payment required).

  • Bank Transfer: Details provided with your invoice.

For help with registration, email Annelies Swaan or contact her by phone at +32 486 98 52 49.

 

INCLUDED IN THE REGISTRATION FEE

  • Access to a highly interactive, small-group online course (max 20 participants)

  • Course materials in both digital and hard copy format

  • You will get a copy of the Excel-based valuation tool that is used during the course to gain practice in calculating the value of a phase II compound

  • Certificate of attendance signed by the experts and CELforPharma

 

VAT INFORMATION

Prices exclude VAT. VAT application depends on course format and your location:

  • Face-to-Face in Belgium: 21% Belgian VAT applies

  • Live online courses & self-study programme: The applicable VAT depends on your invoicing address. Contact your local VAT office for refund procedures where applicable.

 

TRANSFER & CANCELLATION POLICY

Flexible Transfer

If a registrant is unable to attend the scheduled course, they can avoid any cancellation charges by providing a suitable replacement participant.

Alternatively, the registrant may transfer once, on a 'space-available' basis and at no extra cost, to another course of the same value held within one year of the original course date, provided this is done at least three weeks prior to the event.

Registration Cancellation

  • Less than 14 days prior to the course date: The registrant is liable to pay the full invoiced registration fee.

  • Between 15 and 30 days prior to the course date: The registrant is liable to pay 50% of the invoiced registration fee.

  • More than 30 days prior to the course date: The registrant is liable to pay a cancellation fee of € 450 per registrant.

If a registrant postpones their participation to a future course and subsequently cancels again, no refund will be issued for the registration fees.
 

The average Recommendation Score from participants of the last session was 

9,4/10!

 

 

Testimonials from past participants:

This course is perfect for anyone in BD, especially those new to valuations. The presentation and materials were excellent. The group sessions and case studies were very effective and valuable, and the interactions really enhanced the overall experience.

AOP Health

Elisabeth Schön, Manager Business Development - Austria - April 2025

Patrik takes the time to walk through everything, from the basics to more advanced topics. It was also a great refresher on foundational concepts and helped me see valuation as simple within its complexity. I appreciated how condensed concepts and practical application were brought together in one place.

argenx

Ana Kosoy, Senior Director Business Development - Spain - April 2025

The course provided a solid overview of key valuation principles in pharma-biotech. It helped clarify important concepts and offered useful tools for structuring product evaluations. A good resource for professionals involved in BD&L or strategic assessments.

Dr. Falk Pharma

Samer Ahmed, Head of Global Commercial New Products - Germany - April 2025

Concise, actionable, and expertly delivered. An excellent course — I’m looking forward to future offerings.

United Therapeutics Corp

Shola Oyewole, Chief Innovation Officer - USA - April 2025

Very well structured, introduced and explained. Patrik is an excellent speaker, perfectly combining theory and case studies. The organisation was great.

Noucor

Heidi Sisniega, Head Business Development & Licensing - Spain - September 2024

Excellent material and educator. Material was detailed, but explained at a great pace, even for a novice in finance.

Kinoxis Therapeutics

Raymond Luong, Business Development Associate - Australia - September 2024

The Product and Company Valuation course taught by Patrik Frei was an extremely valuable refresher with two very useful practical exercises.

Origent Data Sciences

David Ennist, CEO - USA - April 2024

A very well done course. It helped me to improve some aspects in companies and products evaluation.

Molteni Farmaceutici

Filippo Mannelli, Portfolio & Business Development Manager - Italy - April 2024

Well structured, well prepared and very clear content! Extremely professional and enlightening!

Basinnov LifeSciences

Vera Moura, Director - Portugal - April 2024

Thanks to Dr Patrik Frei and his extremely clear and helpful course, valuation is now much clearer for me. I feel more confident to evaluate our future deals with biotech companies and look forward to meeting again soon with the peers I've met!

Laboratoires Expanscience

Philippine Furge, Business Development Project Manager - Spain - September 2023

This program was great for walking us through valuation and the different ways of thinking about it. It is easy to read text on valuation, but when you have someone you can ask questions to and then work through case studies, the learning experience is much better. Top marks all around for the content, the trainer and for the support from CELforPharma!

Canurta

Akeem Gardner, CEO - Canada - March 2023

A very valuable course which covered the different aspects to consider, as well as the most common valuation models used. The course brought both an excellent overview of the subject, as well as touched upon quite specific details in a way that was easy to follow. I particularly enjoyed learning from the experiences in the group and Patrik's very pedagogical presentation of a complex topic. I would highly recommend the course.

Gedea Biotech

Annette Säfholm, CEO - Sweden - March 2023

Patrik is an experienced and conscientious trainer, ensuring that everyone is following but still sticking to time. The case studies were particularly helpful and I leave feeling tooled-up for future real-world application.

Isogenica

Marion Cubitt, Director, Discovery - United Kingdom - March 2023

This session was well worth attending, very valuable. I enjoyed the discussions and the diversity of the group's backgrounds. Patrik is really amazing!

Novartis

Tamer Basha Elnaggar, Global Cell and Gene Pipeline Engagement Lead; Long Term Commercial & Pipeline Strategy - United States - March 2023

I highly recommend this course to folks interested in learning about valuation basics. Patrik did a great job at walking us through the basics of each topic but also addressing the more advanced questions in a way that beginners in valuation can also grasp. It was nice to get to know the other colleagues in biotech who attended the course and learn from each other’s experiences. Thank you Patrik. Thank you also to CELforPharma for their support. I really appreciate all the hard work put in for the impeccable communication and coordination before and during the course.

CCRM

Mohad Mehrabian, Technology & Venture Development - Canada - December 2022

Great course! It really perfected my knowledge in valuation. Many thanks to Patrik and CELforPharma for organising.

cells4therapy

Dirk Groenewegen, Managing Director - The Netherlands - December 2022

Super organisation and a friendly and experienced trainer made for a very valuable and enjoyable course. I finally have a plan on how to approach valuations. Thanks!

Universität für Bodenkultur Wien

Lisa-Ariadne Schmidt, Technology Transfer Manager - Austria - December 2022

The course materials were good, the content was excellent, the mentoring approach was good, and working with other people was great. I learned a lot about methods of assessing the valuation of Biotech companies. Very useful.

NeuroBioMat

Stéphane Woerly, President/Director Scientific - France - December 2022

I highly recommend CELforPharma online trainings as a fully professional place to improve your skills and industry knowledge.

Bioceltix

Andrij Włach, Proxy & CFO - Poland - September 2022

An excellent course for the foundation of valuation needed especially for those involved in due diligence activities from both the investor and investee side of the business.

CSL Behring

Joe Salazar, Global Senior Director Plasma Product Development CMC Lead - Switzerland - September 2022

High quality and concise information. Excellent delivery and well-balanced in-course work to capture the nuances.

Edinburgh Innovations

Lysimachos Zografos, Entrepreneur-in-Residence, Wellcome Programme Lead - United Kingdom - September 2022

The group had very interesting discussions and the basic parts of the valuation puzzle were clearly communicated!

Bay Pharma

Nilesh Vaghela, Managing Director - Germany - September 2022

A brilliant session to work through the key considerations of valuation and the importance of this.

Oxford University Innovation

Susan Campbell, Licensing and Ventures Manager - United Kingdom - September 2022

This course was excellent and well worth the 3:30 AM start time!

Sunovion Pharmaceuticals

Jason Newcom, Director, Business Development and Alliance Management - United States - November 2021

A useful course, both for beginners and more experienced people.

Fondazione Telethon

Annamaria Merico, Head of Business Development - Italy - November 2021

This is the 3rd course from CELforPharma I attended, and the impression is positive again. I can recommend their BD courses for both BD and non-BD functions, either for specific needs or just as a general introduction.

Binnopharm Group

Svetlana Bolsheva, Strategy & Business Development Director - Russian Federation - November 2021

This course was a great use of my time. Very informative from theory to practice!

Sunovion Pharmaceuticals

Michael Segal, Executive Director, Business Development and Alliance Management - United States - November 2021

This was a valuable course taught by an experienced professional. The course met my expectations in terms of acquiring concrete knowledge for business application.

AC BioScience

Christine Evans, Legal and Compliance - Spain - May 2021

Very effective, high impact and high engagement course with very professional coordination and presentation!

Jamjoom Pharma

Horia Vilcu, Business Development Director - Saudi Arabia - May 2021

This great course delivered professionalism, valid expertise, knowledge and tools ready to implement! Looking forward to part II and other courses.

Agrifirm

Nicole Fehrenbacher, Senior Innovation Scout - Belgium/Germany - May 2021

Very valuable to get some good insights in the challenges and mechanisms for valuation of pharma companies - highly recommended.

Let 'em know

Ola Bjorkman, CEO - Sweden - May 2021

The course provides valuation essentials and is a good first step into this topic. Everything was detailed enough to be beneficial, also if you already have some basic knowledge on this topic that you want to improve/reflect on. We got a useful overview regarding product/company valuation from Patrik, who presented the course with a high level of expertise and with excellent presentation skills.

Origimm Biotechnology

Florian Köck, Head of Finance & Business Operations - Austria - March 2021

This course was very comprehensive and Patrik Frei made some of the more complex notions very understandable, even for beginners in the field. I really enjoyed the case studies that allowed to apply the newly acquired notions in a practical way and helped a lot with understanding the more abstract ones. I came out with a better understanding and with practical tools that I can apply immediately in my every day work.

Immunic

Hames Mainka, Manager Business Development - Germany - March 2021

Very clear course set-up and content that covered the full scope of Product & Company valuation at the right level of detail. I really appreciated the valuable case studies as breakout exercises. The group interaction worked very well with Zoom and the day was well managed by the CELforPharma team. Thanks a lot!

GATT Technologies

Jasper Groenenboom, Director Strategy & Finance - The Netherlands - March 2021

I thought it was a well-designed course that met the requirements for my role and anyone working in a Business Development department. My most valuable take-aways from the day were the topics on company valuation, the assessment of risk strategy and the interesting case studies we worked on during the breakout group work sessions. The expert was highly skilled in presenting and showed a high level of expertise on each topic. There was also great communication and follow-up with CELforPharma before, during and after the course which added to an excellent online course experience.

Paladin Labs

Martin Noel, Manager Business Development - Canada - March 2021

A very clear course that can be appreciated whether you have a financial background or not.

AMC Biotech

Ariane Mansouri, Consultant - Germany - March 2021

Good overview of valuation methods, for both a biotech company or a product. Thanks!

Fyteko

Guillaume Wégria, CEO - Belgium - March 2021

People attending this course are typically also interested in: 

Do you want to upskill your team?

We can organise this training in-company (face-to-face or live online) and customise it to your specific focus and needs.

Fill in the below form and Inge Cornelis, Director of Client & Product Projects, will contact you with further information.
 

Course Details

Dates & Locations

25 September 2025

Live online (CET timing)

Register

Special offer for biotech start-ups & academia: Apply for a € 400 discount. Contact Annelies Swaan for more details.

Upcoming Session

25 September 2025, Live online (CET timing)

Early bird € 1 470

(until 22/08/2025)

 (Full fee € 1 670)

Prices are excl. VAT

In the high-stakes world of biotechnology and pharmaceuticals, traditional valuation methods fall short. The industry presents unique challenges that require specialised expertise:

  • High R&D Attrition Rates

  • Extended Investment Cycles

  • Complex IP Landscapes


This hands-on course equips you with practical valuation tools essential for:

  • Financing rounds and investment decisions

  • Mergers & Acquisitions (M&A)

  • Licensing deals and partnerships

  • Strategic development planning

  • Portfolio optimisation


A Unique Learning Experience:

  1. Expert-Led Instruction: Learn directly from a seasoned life science valuation specialist

  2. Peer Learning: Connect with international peers facing similar challenges

  3. Real-World Applications: Practise on actual case studies and industry scenarios


Join a select group of professionals who understand that accurate valuations are the foundation of successful deal-making in the pharma & biotech world.
 

The course provided a solid overview of key valuation principles in pharma-biotech. It helped clarify important concepts and offered useful tools for structuring product evaluations. A good resource for professionals involved in BD&L or strategic assessments.

Dr. Falk Pharma

Samer Ahmed, Head of Global Commercial New Products - Germany - April 2025

  1. A methodology for assessing and optimising the risk profile of a life science company prior to valuation.

  2. The different valuation methods used for life science companies and products.

  3. How to calculate the value of a biotech or life science company using the Discounted Cash Flow method/rNPV, comparables, and Venture Capital method.

  4. How to use risk-adjusted Net Present Value (rNPV) to calculate the value of a pharmaceutical compound in development.

  5. How to structure the licensing deal between companies, covering issues such as milestone and royalty payments.

Course agenda

 

This course is perfect for anyone in BD, especially those new to valuations. The presentation and materials were excellent. The group sessions and case studies were very effective and valuable, and the interactions really enhanced the overall experience.

AOP Health

Elisabeth Schön, Manager Business Development - Austria - April 2025

 

 

 

Welcome (~30 min)
Introduction to Valuation: What – Why – When (~45 min)
  • Scope of this course
  • Basics of valuation
  • The main drivers of valuation: measuring risk vs. return
How to Assess a Company Prior to Valuation (~30 min)
  • Why is it important to assess a company before doing a valuation
  • A framework to assess risk and value drivers in a company valuation, focusing on 3 key areas: Management – Science & technology – Market environment
  • How the risk defined during the assessment is translated to discount rates used in valuations
Valuation of Lifescience Companies: Methods - Dos & Don’ts (~1 h)
  • An overview of approaches for valuing life science companies by category: operations-based, market-based, and mixed methods
  • The most frequently used company valuation methods - Pros & cons of each method: 
    • Discounted Cash Flows using Terminal Value, Discount Rate and WACC
    • Venture Capital method
    • Market/Deal comparable
  • Valuation in practice – discussion of a historical case
Group Work on a Company Valuation Case Study (~45 min)
The audience will be divided into groups. Each group will calculate the value of a life science company from a pre-read case study. The groups will then present and discuss their results in a plenary session. 
Lunch Break
Product Valuation: The rNPV Calculation Method - Dos & Don’ts (~1 h)
  • Difference between company and product valuation
  • In-depth explanation of the most frequently used technique in Pharma & Biotech: the five-step process to calculate Risk-adjusted Net Present Value (rNPV)
  • What information do you need? - How to gather the information?
  • How to calculate the value of a company from several product valuations
From Valuation to Deal Structure (~30 min)
  • A four-step process to structure the deal, starting from the valuation
  • Using the valuation model to calculate the present value and risk-sharing of a deal 
Group Work on a Product Valuation Case Study (~45 min)
The audience will be divided into groups. Each group will calculate the value of a pharmaceutical product in development. The groups will then present and discuss their results in a plenary discussion.
Final Discussion & Wrap-up (~30 min)

 

Download Brochure

 

Complete the below form to download the full course brochure. It outlines the detailed agenda, learning outcomes, expert info and some testimonials from past participants.

  • Dr Patrik Frei is Founder & CEO of Venture Valuation, specialists in independent assessments and valuation of emerging high-growth companies in biotechnology and life sciences.

  • He is Europe’s top valuation expert of high-growth life science companies and the author of Assessment and Valuation of High Growth Companies. He and his team have carried out valuations for the Novartis Venture Fund.

  • He is the owner of Biotechgate, the global business development database for the life science industry. Leave your details here for more information. 

  • Patrik has been on CELforPharma’s faculty since 2007 and is always praised by participants for being an excellent speaker who generously shares his wealth of expertise.
     

Patrik takes the time to walk through everything, from the basics to more advanced topics. It was also a great refresher on foundational concepts and helped me see valuation as simple within its complexity. I appreciated how condensed concepts and practical application were brought together in one place.

argenx

Ana Kosoy, Senior Director Business Development - Spain - April 2025

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. 

Would you like to receive a list of anonymised participant profiles from previous sessions? 

Email Annelies Swaan

 

 

UPCOMING DATES & FORMATS - FEES

25 September 2025

Live online (CET timing)

Early bird € 1 470

(until 22/08/2025)

(Full fee € 1 670)

 


TIMING & LOCATION

  • Live Online (CET): Zoom sessions between 9 AM and 5 PM CET (Brussels, Amsterdam, Paris time).

  • Live Online (EST): Zoom sessions between 8 AM and 4 PM EST (Eastern Standard Time).

  • Face-to-Face: Held at the Crowne Plaza Brussels Airport (Da Vincilaan 4, 1831 Brussels), between 9 AM and 5 PM CET. Preferential hotel rates available for participants.

All practical details will be shared upon registration. For any questions, please contact Margherita Mutto or call +32 472 03 11 38 .

 

SPECIAL OFFER FOR BIOTECH EXECUTIVES

Executives from biotech start-ups (companies that do not have products on the market yet) and academia can apply for a € 400 discount. Please email Annelies Swaan, Director Business Operations, for more details.  

 

GROUP DISCOUNTS

Team discounts can be offered to 2 or more delegates from the same company.

Email Annelies Swaan, Director Business Operations, for more details. 

 

HOW TO REGISTER

  • Click the green “Register” button on your preferred course session.
    The registration wizard will guide you through the process.

  • Alternatively, download the offline registration form and send the completed form to Annelies Swaan.

 

PAYMENT OPTIONS

  • Credit Card: You’ll receive a secure payment link with your invoice (no immediate payment required).

  • Bank Transfer: Details provided with your invoice.

For help with registration, email Annelies Swaan or contact her by phone at +32 486 98 52 49.

 

INCLUDED IN THE REGISTRATION FEE

  • Access to a highly interactive, small-group online course (max 20 participants)

  • Course materials in both digital and hard copy format

  • You will get a copy of the Excel-based valuation tool that is used during the course to gain practice in calculating the value of a phase II compound

  • Certificate of attendance signed by the experts and CELforPharma

 

VAT INFORMATION

Prices exclude VAT. VAT application depends on course format and your location:

  • Face-to-Face in Belgium: 21% Belgian VAT applies

  • Live online courses & self-study programme: The applicable VAT depends on your invoicing address. Contact your local VAT office for refund procedures where applicable.

 

TRANSFER & CANCELLATION POLICY

Flexible Transfer

If a registrant is unable to attend the scheduled course, they can avoid any cancellation charges by providing a suitable replacement participant.

Alternatively, the registrant may transfer once, on a 'space-available' basis and at no extra cost, to another course of the same value held within one year of the original course date, provided this is done at least three weeks prior to the event.

Registration Cancellation

  • Less than 14 days prior to the course date: The registrant is liable to pay the full invoiced registration fee.

  • Between 15 and 30 days prior to the course date: The registrant is liable to pay 50% of the invoiced registration fee.

  • More than 30 days prior to the course date: The registrant is liable to pay a cancellation fee of € 450 per registrant.

If a registrant postpones their participation to a future course and subsequently cancels again, no refund will be issued for the registration fees.
 

The average Recommendation Score from participants of the last session was 

9,4/10!

 

 

Testimonials from past participants:

This course is perfect for anyone in BD, especially those new to valuations. The presentation and materials were excellent. The group sessions and case studies were very effective and valuable, and the interactions really enhanced the overall experience.

AOP Health

Elisabeth Schön, Manager Business Development - Austria - April 2025

Patrik takes the time to walk through everything, from the basics to more advanced topics. It was also a great refresher on foundational concepts and helped me see valuation as simple within its complexity. I appreciated how condensed concepts and practical application were brought together in one place.

argenx

Ana Kosoy, Senior Director Business Development - Spain - April 2025

The course provided a solid overview of key valuation principles in pharma-biotech. It helped clarify important concepts and offered useful tools for structuring product evaluations. A good resource for professionals involved in BD&L or strategic assessments.

Dr. Falk Pharma

Samer Ahmed, Head of Global Commercial New Products - Germany - April 2025

Concise, actionable, and expertly delivered. An excellent course — I’m looking forward to future offerings.

United Therapeutics Corp

Shola Oyewole, Chief Innovation Officer - USA - April 2025

Very well structured, introduced and explained. Patrik is an excellent speaker, perfectly combining theory and case studies. The organisation was great.

Noucor

Heidi Sisniega, Head Business Development & Licensing - Spain - September 2024

Excellent material and educator. Material was detailed, but explained at a great pace, even for a novice in finance.

Kinoxis Therapeutics

Raymond Luong, Business Development Associate - Australia - September 2024

The Product and Company Valuation course taught by Patrik Frei was an extremely valuable refresher with two very useful practical exercises.

Origent Data Sciences

David Ennist, CEO - USA - April 2024

A very well done course. It helped me to improve some aspects in companies and products evaluation.

Molteni Farmaceutici

Filippo Mannelli, Portfolio & Business Development Manager - Italy - April 2024

Well structured, well prepared and very clear content! Extremely professional and enlightening!

Basinnov LifeSciences

Vera Moura, Director - Portugal - April 2024

Thanks to Dr Patrik Frei and his extremely clear and helpful course, valuation is now much clearer for me. I feel more confident to evaluate our future deals with biotech companies and look forward to meeting again soon with the peers I've met!

Laboratoires Expanscience

Philippine Furge, Business Development Project Manager - Spain - September 2023

This program was great for walking us through valuation and the different ways of thinking about it. It is easy to read text on valuation, but when you have someone you can ask questions to and then work through case studies, the learning experience is much better. Top marks all around for the content, the trainer and for the support from CELforPharma!

Canurta

Akeem Gardner, CEO - Canada - March 2023

A very valuable course which covered the different aspects to consider, as well as the most common valuation models used. The course brought both an excellent overview of the subject, as well as touched upon quite specific details in a way that was easy to follow. I particularly enjoyed learning from the experiences in the group and Patrik's very pedagogical presentation of a complex topic. I would highly recommend the course.

Gedea Biotech

Annette Säfholm, CEO - Sweden - March 2023

Patrik is an experienced and conscientious trainer, ensuring that everyone is following but still sticking to time. The case studies were particularly helpful and I leave feeling tooled-up for future real-world application.

Isogenica

Marion Cubitt, Director, Discovery - United Kingdom - March 2023

This session was well worth attending, very valuable. I enjoyed the discussions and the diversity of the group's backgrounds. Patrik is really amazing!

Novartis

Tamer Basha Elnaggar, Global Cell and Gene Pipeline Engagement Lead; Long Term Commercial & Pipeline Strategy - United States - March 2023

I highly recommend this course to folks interested in learning about valuation basics. Patrik did a great job at walking us through the basics of each topic but also addressing the more advanced questions in a way that beginners in valuation can also grasp. It was nice to get to know the other colleagues in biotech who attended the course and learn from each other’s experiences. Thank you Patrik. Thank you also to CELforPharma for their support. I really appreciate all the hard work put in for the impeccable communication and coordination before and during the course.

CCRM

Mohad Mehrabian, Technology & Venture Development - Canada - December 2022

Great course! It really perfected my knowledge in valuation. Many thanks to Patrik and CELforPharma for organising.

cells4therapy

Dirk Groenewegen, Managing Director - The Netherlands - December 2022

Super organisation and a friendly and experienced trainer made for a very valuable and enjoyable course. I finally have a plan on how to approach valuations. Thanks!

Universität für Bodenkultur Wien

Lisa-Ariadne Schmidt, Technology Transfer Manager - Austria - December 2022

The course materials were good, the content was excellent, the mentoring approach was good, and working with other people was great. I learned a lot about methods of assessing the valuation of Biotech companies. Very useful.

NeuroBioMat

Stéphane Woerly, President/Director Scientific - France - December 2022

I highly recommend CELforPharma online trainings as a fully professional place to improve your skills and industry knowledge.

Bioceltix

Andrij Włach, Proxy & CFO - Poland - September 2022

An excellent course for the foundation of valuation needed especially for those involved in due diligence activities from both the investor and investee side of the business.

CSL Behring

Joe Salazar, Global Senior Director Plasma Product Development CMC Lead - Switzerland - September 2022

High quality and concise information. Excellent delivery and well-balanced in-course work to capture the nuances.

Edinburgh Innovations

Lysimachos Zografos, Entrepreneur-in-Residence, Wellcome Programme Lead - United Kingdom - September 2022

The group had very interesting discussions and the basic parts of the valuation puzzle were clearly communicated!

Bay Pharma

Nilesh Vaghela, Managing Director - Germany - September 2022

A brilliant session to work through the key considerations of valuation and the importance of this.

Oxford University Innovation

Susan Campbell, Licensing and Ventures Manager - United Kingdom - September 2022

This course was excellent and well worth the 3:30 AM start time!

Sunovion Pharmaceuticals

Jason Newcom, Director, Business Development and Alliance Management - United States - November 2021

A useful course, both for beginners and more experienced people.

Fondazione Telethon

Annamaria Merico, Head of Business Development - Italy - November 2021

This is the 3rd course from CELforPharma I attended, and the impression is positive again. I can recommend their BD courses for both BD and non-BD functions, either for specific needs or just as a general introduction.

Binnopharm Group

Svetlana Bolsheva, Strategy & Business Development Director - Russian Federation - November 2021

This course was a great use of my time. Very informative from theory to practice!

Sunovion Pharmaceuticals

Michael Segal, Executive Director, Business Development and Alliance Management - United States - November 2021

This was a valuable course taught by an experienced professional. The course met my expectations in terms of acquiring concrete knowledge for business application.

AC BioScience

Christine Evans, Legal and Compliance - Spain - May 2021

Very effective, high impact and high engagement course with very professional coordination and presentation!

Jamjoom Pharma

Horia Vilcu, Business Development Director - Saudi Arabia - May 2021

This great course delivered professionalism, valid expertise, knowledge and tools ready to implement! Looking forward to part II and other courses.

Agrifirm

Nicole Fehrenbacher, Senior Innovation Scout - Belgium/Germany - May 2021

Very valuable to get some good insights in the challenges and mechanisms for valuation of pharma companies - highly recommended.

Let 'em know

Ola Bjorkman, CEO - Sweden - May 2021

The course provides valuation essentials and is a good first step into this topic. Everything was detailed enough to be beneficial, also if you already have some basic knowledge on this topic that you want to improve/reflect on. We got a useful overview regarding product/company valuation from Patrik, who presented the course with a high level of expertise and with excellent presentation skills.

Origimm Biotechnology

Florian Köck, Head of Finance & Business Operations - Austria - March 2021

This course was very comprehensive and Patrik Frei made some of the more complex notions very understandable, even for beginners in the field. I really enjoyed the case studies that allowed to apply the newly acquired notions in a practical way and helped a lot with understanding the more abstract ones. I came out with a better understanding and with practical tools that I can apply immediately in my every day work.

Immunic

Hames Mainka, Manager Business Development - Germany - March 2021

Very clear course set-up and content that covered the full scope of Product & Company valuation at the right level of detail. I really appreciated the valuable case studies as breakout exercises. The group interaction worked very well with Zoom and the day was well managed by the CELforPharma team. Thanks a lot!

GATT Technologies

Jasper Groenenboom, Director Strategy & Finance - The Netherlands - March 2021

I thought it was a well-designed course that met the requirements for my role and anyone working in a Business Development department. My most valuable take-aways from the day were the topics on company valuation, the assessment of risk strategy and the interesting case studies we worked on during the breakout group work sessions. The expert was highly skilled in presenting and showed a high level of expertise on each topic. There was also great communication and follow-up with CELforPharma before, during and after the course which added to an excellent online course experience.

Paladin Labs

Martin Noel, Manager Business Development - Canada - March 2021

A very clear course that can be appreciated whether you have a financial background or not.

AMC Biotech

Ariane Mansouri, Consultant - Germany - March 2021

Good overview of valuation methods, for both a biotech company or a product. Thanks!

Fyteko

Guillaume Wégria, CEO - Belgium - March 2021

Do you want to upskill your team?

We can organise this training in-company (face-to-face or live online) and customise it to your specific focus and needs.

Fill in the below form and Inge Cornelis, Director of Client & Product Projects, will contact you with further information.
 

Dates & Locations

25 September 2025

Live online (CET timing)

Register

Special offer for biotech start-ups & academia: Apply for a € 400 discount. Contact Annelies Swaan for more details.