A 1-Day Training Course Delivered By
Dr Patrik Frei

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.
  • Author of Assessment and Valuation of High Growth Companies.
  • Owner of Biotechgate, the global business development database for the life science industry. Leave your details here for more information.

By Attending This Course, You Will

  1. Know what determines the value of life science biotechs and emerging pharma companies.
  2. Gain a thorough understanding of key valuation terms, concepts, tools & techniques.
  3. Be able to assess the risk profile of a biotech company prior to its valuation.
  4. Learn and practice how to calculate the value of a biotech company.
  5. 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).
  6. 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.

Agenda

 

10:00

Welcome

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

 
  • 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.
13:30Lunch

14:15

Product Valuation & Deal Structuring

 
  • 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

17:00

Closing

 

Learning Methodology

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.

infoThe typical audience size of our courses ranges from 6 to 24 (max) participants.

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.

 

Past Participants

Below is a non-exhaustive list of past participants who have benefited from attending this course.

 

Job Title

Company

Country

Investment ManagerAcceleratorSweden
CEOAkceso AdvisorsSwitzerland
CFOAlgiax PharmaceuticalsGermany
Corp. Business Development ManagerALKDenmark
CEOAnergisSwitzerland
F&A ManagerarGEN-XBelgium
Executive Evaluation Director, CVGIAstraZenecaSweden
Portfolio & Business Development ManagerAstraZenecaJapan
Head of BDAvexxinNorway
CFOAxon NeuroscienceSlovakia
Technical Assessment AnalystBaxterAustria
Director, Business Development & Alliance ManagementCamurusSweden
Vice President Business DevelopmentCellectar BiosciencesUSA
Senior Director Business DevelopmentCelonicSwitzerland
Corporate Development & Licensing ManagerChiesiItaly
CEOChrisofixSwitzerland
Senior Manager Business Development & LicensingDaiichi SankyoGermany
Head of OperationsEATRISNetherlands
CEOFAST BioMedicalUSA
Technology Transfer SpecialistGenoma EspanaSpain
ManagerHelsinn HealthcareSwitzerland
Director Corporate DevelopmentImmune PharmaUSA
New Business Development ManagerJanssenUK
Business Development ManagerJSC FarmakUkraine
Director, Life SciencesLicentiaFinland
Associate Director - Corporate Business DevelopmentLundbeckDenmark
Business Development DirectorMedical FuturesCanada
Director, Strategy and Business OperationsMerck SeronoGermany
ControllerMerck SeronoSwitzerland
CEOMinoryx TherapeuticsSpain
CEOMitotechUnited Kingdom
Managing DirectorMonitus ResearchUnited Kingdom
Senior Manager Business DevelopmentMorphosysGermany
CEONewLab Life SciencesCanada
Financing DirectorNovosomGermany
CEOPalobiofarmaSpain
Marketing and Business DevelopmentPharmabio-MBDFrance
CEOPharmaneuroboostBelgium
Managing Director - Dermatology & CosmeticsPierre FabreGermany
General ManagerPnn MedicalSwitzerland
CEOPRECLIN BiosystemsSwitzerland
General ManagerProStrakanGermany
Business DeveloperPROVAXSBelgium
Director of Business DevelopmentRocheUSA
CEOSagetis BiotechSpain
CEOSensorionFrance
VP Finance & Business DevelopmentSiena BiotechItaly
Head of International Marketing IntelligenceSigma-TauItaly
Strategy AnalystSotioCzech Republic
Managing PartnerSourciaNetherlands
Valuation and Compliance OfficerSterling IPUK
Technical DirectorTecnifarPortugal
Business DevelopmentTevaIsrael
Director Business DevelopmentTherabelFrance
CEOTxCellFrance
CEOVantiaUK
Attorney at LawVentac PartnersUSA
Senior Business Development ManagerVIBBelgium
Director, Business DevelopmentVifor PharmaUK
Business Development ManagerVU Medical CenterNetherlands
Investment ExecutiveWDC Investment FundIreland
Pipeline Development & Science IntelligenceZambonItaly

 

Testimonials

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.

  • 22 November 2017, 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.jpg

Address: Hohenbuehlstrasse 10, Opfikon-Glattbrugg 8152, Switzerland
Tel: +41 44 828 50 50
 

  • 11 March 2018, Amsterdam

info   Back-to-Back with BIO-Europe Spring

The course venue will be announced soon.

 

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 (sarah.nissen@celforpharma.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 (annelies.swaan@celforpharma.com) for more details.

 

Group Discounts

Team discounts can be offered to 3 or more delegates from the same company. Contact Annelies Swaan, Head of Business Operations, (annelies.swaan@celforpharma.com) for more details.

 

How to Register

  1. Click the "Register Here" button on this page.
  2. Choose a course date, then fill out your personal details in step 1 and company / invoicing details in step 2.
  3. Choose to pay via bank transfer / invoice or by credit card.
  4. Click "Confirm Registration". You will be sent an automatic email confirming your registration followed by a personal email containing a pro-forma invoice and further payment instructions.

For assistance in registering, raising a PO or invoicing, please do not hesitate to contact Britt De Cat.
(email: britt.decat@celforpharma.com or call: +32 2 709 01 44)

 

Transfer & Cancellation Policy

Flexible Transfer

  • 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.

Participant Cancellation

  • 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.

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