Pharma-Biotech Product & Company Valuation

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	Learn and practice how to:
		Use a model that assesses the soft factors of a biotech company prior to its valuation.
		Calculate the value of a biotech company.
		Calculate the value of a development compound with an excel tool you can take home and use for any other pharmaceutical product in development.
		Structure licensing deals between pharma and biotech, covering issues such as milestones and royalty payments.
	4	Gain expert insight and advice from Patrik Frei who has assessed and valued numerous products and companies in the life sciences industry.

 

What sets the Pharma-Biotech Product & Company Valuation course apart?

The experts: Patrik Frei wrote the first book on the valuation of high-growth companies, including biotech and other life science companies. Patrik and Johan are reputable specialists in the valuation of life science companies, with in-depth insight into the Venture Capital, Pharma and Biotech sectors.

The content: The experts' methodology taught at this course goes beyond the number-crunching approaches of most consultants, to also include qualitative factors that are hard to define. This course demonstrates the practical application of state-of-the-art valuation methods specifically targeted towards high-risk and high-growth projects in the life science industry.

Who should attend?

Anyone who needs a thorough understanding of the valuation concepts and techniques commonly applied in the pharma and biotech industries.

Past participants

Below is a non-exhaustive list of executives who participated in the Pharma-Biotech Product & Company Valuation course:

Executive Evaluation Director, CVGI	AstraZeneca	Sweden	testimonial
Portfolio & Business Development Manager	AstraZeneca	Japan
Independent Consultant	Beckmann Bio	Belgium
Corporate Development & Licensing Manager	Chiesi	Italy	testimonial
Technology Transfer Specialist	Genoma Espana	Spain	testimonial
Manager	Helsinn Healthcare	Switzerland	testimonial
Investments Director	Highgrowth	Spain
Director, Life Sciences	Licentia	Finland
Associate Director - Corporate Business Development	Lundbeck	Denmark
CEO	NewLab Life Sciences	Canada	testimonial
Financing Director	Novosom	Germany	testimonial
Portfolio Manager	Nycomed	Germany	testimonial
CEO	Pharmaneuroboost	Belgium	testimonial
Managing Director - Dermatology & Cosmetics	Pierre Fabre	Germany
CEO	PRECLIN Biosystems	Switzerland	testimonial
Business Development Manager	Roche	Switzerland
VP Finance & Business Development	Siena Biotech	Italy	testimonial
Director Business Development	Therabel	France
CEO	TxCell	France	testimonial
CEO	Vantia	UK	testimonial
Director, Business Development	Vifor Pharma	UK	testimonial
Investment Executive	WDC Investment Fund	Ireland	testimonial

Programme outline of the Pharma-Biotech Product & Company Valuation course

You are welcome to join us for the welcome coffee at 09:30h. The actual programme starts at 10:00h and closing will be no later than 17:00h.

Welcome & Introduction to Valuation: What - Why - When Scope of this course Basics about valuation. The main drivers of valuation: measuring risk vs. return.

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.

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 of 4. After reading the case (which will be sent to you prior to the course), 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.

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 product valuation to determine a suitable deal structure? Group work on a case study: The audience will again be broken up in groups of 4. After reading the case (which will be sent to you prior to the course), 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.

Final Discussion & Wrap-up

Learning methodology

This course optimally balances interactive lectures and group work on case studies that illustrate the theory and enable delegates to practice the fundamental valuation tools & techniques.

Definitely of great value in this course is the product valuation session, as it is applicable to any licensing deal, including the pharma-pharma situation. Following an explanation of the product valuation methods used in pharma/biotech, you will be able to practise the commonly used rNPV or eNPV method (risk-adjusted Net Present Value or expected Net Present Value) with an Excel tool developed uniquely for this course (and that you can take home on CD-ROM!). This tool will also enable you to practise how to best structure a licensing deal between companies.

Meet the experts: Patrik Frei and Johan Ohlsson

Dr. Patrik Frei is founder and CEO of Venture Valuation AG, Switzerland. Venture Valuation specializes in independent, third-party assessment and valuation of emerging high growth companies in biotechnology and life sciences. Services are provided in the form of proprietary Valuation Reports™ to companies and investors. Furthermore, Venture Valuation runs the Biotech and Life Sciences Databases Biotechgate and other country databases in Austria, Canada, France, Germany, India, Italy and Switzerland.

Patrik graduated from the Business University of St. Gall and wrote his doctoral thesis “Assessment and valuation of high growth companies” at the Swiss Federal Institute of Technology, EPFL Lausanne. His previous occupations include CFO of a trucking company; training at several international corporations: LeCroy (Geneva, New York), Hans Merensky Holding (South Africa), Swatch Group - EM Microelectronic (Marin).

Johan Ohlsson is currently employed as a Business Analyst at Venture Valuation AG, Switzerland, performing independent third-party financial and strategy evaluations of emerging high-growth companies in the area of life sciences.

Johan holds a MSc. in Molecular Biology and a BSc. in Finance from the Södertörn University. He also held various positions within Pharmalicensing as a business development executive and strategic analyst focused on business development where he played an active role in product development and started a consulting division focused on business development activities. Prior to that, he worked as an oncology researcher at the Microbiology and Tumor Biology Centre (MTC), Karolinska Institutet, and later as an Analyst at the Bioseeker Group.

Dates

28 October 2010, Brussels
13 March 2011, Milan
11 October 2011, Brussels

Interested in additional dates?
Leave your email address to be kept informed:

Venue & Accommodation

28 October 2010, Brussels
11 October 2011, Brussels

These courses take place at the Sheraton Airport Hotel & Conference Center, which is situated opposite Brussels National Airport, literally at 2 minutes' walking from the arrival hall.

Sheraton Brussels Airport Hotel
Brussels National Airport
1930 Zaventem
Belgium
Tel: +32 (0) 2 710 80 00
Fax: +32 (0) 2 710 80 80

We have secured preferential room rates at this four-star hotel for our delegates. Registering three weeks or more prior to the course will secure your room at a preferential rate. Upon your registration, C.E.L.forpharma will send you a Sheraton Brussels Airport Hotel Accommodation Sheet to complete and send back.
Do not hesitate to contact Marie Stricklesse, Programme Coordinator, if you need assistance in this matter (marie.stricklesse@celforpharma.com ; tel +32(0)27092241)

13 March 2011, Milan

This course takes place at the Meliá Milano Hotel which is at a walking distance from Fiera Milano City, just 8 minutes from the new Exhibition Centre in Rho-Pero and 10 minutes from the city centre.

Meliá Milano
Via Masaccio 19
20149 Milan
Italy
Tel: (39) 02 44406
Fax: (39) 02 44406600

We have secured preferential room rates at this hotel for our delegates. Registering three weeks or more prior to the course will secure your room at a preferential rate. Upon your registration, C.E.L.forpharma will send you a Hotel Accommodation Sheet to complete and send back. Do not hesitate to contact Marie Stricklesse, Programme Coordinator, if you need assistance in this matter (marie.stricklesse@celforpharma.com ; tel +32(0)2 709 22 41).

Registration fee

28 October 2010 Course (VAL-09)		Price(*)
Registration before 10 September 2010		€1.270
Registration after 10 September 2010		€1.470

13 March 2011 Course (VAL-10)		Price(*)
Registration before 28 January 2011		€1.270
Registration after 28 January 2011		€1.470

11 October 2011 Course (VAL-11)		Price(*)
Registration before 26 August 2011		€1.270
Registration after 26 August 2011		€1.470

* (VAT excl.)

Group discounts are offered as of 3 or more registrations from the same company.
Please contact  Marie Stricklesse (+32 2 709 22 41 or marie.stricklesse@celforpharma.com) for more information.

To register, please go to our online registration form.

Testimonials of the Pharma-Biotech Product & Company Valuation course

“Very up to the point and focussed programme. I recommend to anybody willing to better understand the basics of the biotech company/products valuation process”

Vicenç Tur, CEO, Lipopharma Therapeutics SL – Spain

“As a new CEO, this was exactly what I needed in a course. Good lecturers, a chance to do practical case studies and the right topics. I am very pleased that I attended. The lecturers were spot on!”

Rajesh Gupta, CEO, NewLab Life Sciences – Canada

“A very interesting agenda with successful speakers.”

Emanuela Lovati, Manager, Helsinn Healthcare – Switzerland

“Very clear and no non-sense presentations which are of immediate practical application for biotech business professionals.”

Gianluca Breghi, VP Finance & Business Development, Siena Biotech - Italy

“Very good introduction of valuation. Good for everyone involved in biotech.”

Erik Buntinx, CEO, Pharmaneuroboost - Belgium

“An excellent beginners course in valuation methods suited to those starting in business development in pharma/biotech.”

Jim Phillips, CEO, Vantia - UK

“Thanks a lot – the Pharma-Biotech Product & Company Valuation workshop was very helpful and a great setting.”

Bettina Ernst, CEO, PRECLIN Biosystems AG - Switzerland

"The course gives you the key to the tricky work of biotech valuation. For us, as a public foundation, it’s fundamental to know an objective value of our portfolio companies to have a solid base to negotiate with investors."

Diego Velasco Escribano, Technology Transfer Specialist, Genoma Espana - Spain

"It´s been a very useful tool to gain insight on both product and company valuation. The one-day course is very well organized including first-class lectures and practical excercises that provide attendees with a superb approach on how to perform valuations. It synthesizes the main methods used in valuation currently in an excellent way, ensuring you get the fullest benefit from this day."

Juan Pedro Rodriguez Serrate, Technology Transfer Specialist, Genoma Espana - Spain

"I found the Pharma-Biotech Product and Company Valuation course to be highly informative and useful. The course was a good mix of theory and practice through use of presentations by experienced practitioners and case studies participation by course attendees. I can recommend this course highly to anyone involved in or with the Pharma-Biotech industry that needs to learn more about valuation techniques and practice."

Conor McNamara, Investment Executive, WDC Investment Fund – Ireland

"I definitely recommend the Pharma-Biotech Valuation Course to pharma-biotech professionals who look for a best practise in valuating companies and licensing deals. Here you learn from the experts, who have hands-on experience with valuation, and who patiently explain the logic behind the assumptions of valuation."

Jacob Glenting, Business Development Manager, ALK-Abello - Denmark

"This course is very effective because of its bottom-up approach, i.e. moving progressively from basics to models. I also enjoyed the good interaction during the course as well as the group work on cases."

Frédéric Hammel, CEO, TxCell - France

"I can highly recommend this seminar, especially for participants that have not yet taken a look into the matter. It’s great to get a basic understanding and also serves as a perfect starting point for more in-depth work regarding company and product valuations in the biotech/pharma field."

Sebastian Kehres, Financing Director, Novosom - Germany

"The skills and generosity of the lecturers and the organisers made this day highly appreciated and I left with all my expectations met (which doesn't happen very often). I highly recommend this as a good and comprehensive introduction to the fundamentals of financial valuation of companies, as well as of individual research programmes."

Magnus Björsne, Executive Evaluation Director, AstraZeneca - Sweden

"This course is very helpful for people new in this area. It provides a good overview of all state-of-the-art processes and tools of deal making. All speakers are (very) experienced in this business, having executed significant and successful deals. Presentations and coaching sections are comprehensive, easy to follow and especially Patrik's insights are not only teaching but also entertaining."

Eberhard Rämisch, Portfolio Manager, Nycomed Pharma AG - Germany

"The course had an immediate practical impact on my professional life with useful tips and a workable evaluation model."

Loredana Ablondi, Corporate Development & Licensing Manager, Chiesi - Italy

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