A 2-Day Training Course Delivered by
Carlos Velez

Dr. Carlos Velez

  • Founder and Managing Partner of Lacerta Bio, an international consultancy specialising in both in- and out-licensing of prescription and non-prescription product candidates and commercial products, across multiple therapeutic areas and markets.
  • Career of 10+ years in senior Business Development roles at Penwest Pharmaceuticals, Lantic Therapeutics Forest Labs, and Genencor (now Danisco).
  • Has trained and consulted business development executives across the world on in- and out-licensing in lifesciences.


  1. The role of partnering models and the BD&L function for corporate growth.
  2. Comprehensive overview of licensing in the context of business development in the pharma-biotech world.
  3. Key success factors and tips for the planning and execution of the in- and out-licensing process.
  4. What you need to know about patents and intellectual property.
  5. Overview of forecasting and valuation tools, methods and approaches.
  6. Introduction to term sheets and their impact on the valuation.
  7. Fundamentals of negotiation, closing the deal and managing the alliance.

Additional Benefits

  • Capitalise on the vast real-world experience of the expert. This course is full of examples, practical insights and tips!
  • Network and share experiences with peers from both the pharma and biotech side.


Why You Should Attend

The Content: Business development & licensing in pharma and biotech is complicated and it takes years to master the full process. This course offers a unique opportunity to speed up your learning curve. You will get a comprehensive overview of the licensing process in the context of business development in the pharma-biotech world. And you will grasp the critical success factors in all the key steps of the process: strategy and planning, finding and reaching out to potential partners, patents and intellectual property, valuation, term sheets, negotiations and alliance management. The course combines theory with interactive group exercises so that you will be able to apply all learnings when back in the office.

The Expert: Carlos is a seasoned BD&L expert with a proven track record in both in- and out-licensing across multiple therapeutic areas and markets. Carlos is also a passionate trainer who encourages discussion and interaction, ensuring you'll learn from both himself and your international peers in the classroom.

The Business Development & Licensing Course For Pharma & Biotech is the only available public training course delivered by Dr. Carlos Velez on this topic.

Agenda of Business Development & Licensing Course For Pharma & Biotech

For start and end times, please check Dates & Locations below.

Day 1

Welcome & Audience Expectations (~15 min)

Introduction to Business Development in Pharma/Biotech (~1 h)

  • The role of Business Development & Licensing and the key players
  • BD organisational models: In-licensing vs. out-licensing
  • Definition and uses of fundamental partnering models
    • The research agreement
    • The joint venture
    • The license
    • Mergers and acquisitions
  • Partnering models as a continuum
  • The in- and out-licensing perspective of corporate growth
  • Licensing trends across therapeutic areas and across the product lifecycle

Strategy & Risk in Business Development (~30 min)

  • Defining strategy in the BD&L context
  • The role of BD&L across the Value Chain
  • What is the relationship between Strategy and Licensing?
  • Special Situations
    • The “platform” business model
    • The AI business model

Effective Out-Licensing Communications (~1 h)

  • Overview of the out-licensing campaign process
  • Why a “pitch” deck is insufficient
  • The Core Presentations
    • The “Follow Up” presentation
    • The “Meeting” presentation
    • The “Confidential” presentation
  • A formula for writing effective outreach messages
Lunch Break

CSFs in the Planning and Execution of the Out-Licensing Process (~1 h)

  • Criteria for assessing whether your candidate is even licenseable
  • Who is a good partner, where to find them and how to contact them
  • Managing expectations: what does successful out-licensing mean?

Group exercise on a case-study: in small groups, participants will discuss whether a drug candidate is licensable. Group findings will be discussed in plenary.

CSFs in the Planning and Execution of the In-Licensing Process (~45 min)

  • Strategic considerations when in-licensing
    • Importance of strategically defined search criteria
    • The Portfolio vs. Franchise Perspective
    • New Market Entry considerations
  • Tactical Considerations
    • Where to source
    • The evaluation challenges
  • Organisational Considerations
  • Deal Structure and Valuation considerations

Patents and Intellectual Property: Goal, Definition & Process (~45 min)

  • What is a patent?
  • The four phases of the patenting process
  • Local versus International patents: The PCT & WIPO/EPO
  • When to patent?
  • Out-licensing versus In-licensing perspectives

Close of Day 1


Day 2

Valuation of Drug Candidates – Part I: Forecasting the Opportunity (~1 h 30 min)

  • Why do we perform valuations?
  • Revenue forecasting
    • Epidemiology versus Market Approaches
    • Pricing and Reimbursement considerations
  • Expense forecasting
  • Gathering and analysing comparables
  • Special situations:
    • Orphan / Rare Diseases
    • Pediatric and Related studies in special populations

Valuation of Drug Candidates – Part II: Tools, Methods & Approaches (~1 h 15 min)

  • What is risk?
  • Risk-adjusted Net Present Value and The Pie
  • Valuation conflicts between the Licensee and Licensor perspective
  • Description and use of Real Options & Game Theory
  • Description and use of Monte Carlo simulations
  • Basic, but useful Excel tools & functions like GoalSeek, Data Tables, etc.

Term Sheets and Contracts (~1 h)

  • What do you want? What do they want?
  • Review of basic term sheet clauses
  • The impact of structure and terms in the term sheet on rNPV and The Pie
  • Special clauses and situations:
    • Clawbacks
    • Sub-licensing
    • Licensor as manufacturer
    • Pre-IND candidates
Lunch Break

Negotiation, Closing, Alliance Management (~45 min)

  • Negotiation basics:
    • The BATNA
    • The ZOPA
  • Once contract is signed …
  • Alliance management considerations

Group Work and Role-play on a Case Study: Term Sheets, Valuation and Negotiation (~1 h 45 min)

Participants will work on a pharma/biotech case study to gain practice with term sheets, valuation and negotiation.
A coffee break will be foreseen during the case study group work.

Q&A and Closing (~15 min)

>> Click here if you wish to receive the PDF brochure of this course

Learning Methodology

The expert optimally balances theory with exercises and numerous anecdotes that illustrate the theory. The strength of this course lies in providing a comprehensive overview of licensing in the context of business development in the pharma-biotech world, illustrated by many examples from the vast experience of the expert, as well as the many checklists and decision support techniques & tools that can be used in each critical step.

One of the most valuable aspects of attending any CELforPharma 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 20 (max) participants.

Who Should Attend?

The Business Development & Licensing Course For Pharma & Biotech is an ideal introductory course for two categories of executives:

  • Mid to senior level executives in small pharma and biotech companies with limited formal training in business development & licensing but whose role increasingly involves licensing activities.
  • Junior to mid-level managers contributing to the BD&L process in the headquarters of midsize and big pharma companies (e.g. technology assessment, business intelligence…) who need a better understanding of the complete licensing process in the context of business development.

Managers in local marketing organisations with responsibility for business development & licensing in national markets will also benefit but they should be aware that the course content is geared towards international licensing BD responsibilities.

Executives working in generics companies should be aware that the content of this course concentrates on licensing deals involving branded pharmaceuticals.

As this course is delivered by Dr. Carlos Velez from Lacerta Bio, a leading pharma consultancy company, executives from other professional service agencies should request approval prior to registering for this course. Please contact Annelies Swaan, Director Business Operations, for more information (aswaan@celforpharma.com, tel +32 (0)2 709 01 42).


Past Participants

As this is the first session of the Business Development & Licensing Course For Pharma & Biotech, there is no past participants list available.



As this is the first session of the Business Development & Licensing Course For Pharma & Biotech course, there are no testimonials available.

Dates & Locations

All live online CELforPharma courses are hosted in Zoom.

Our face-to-face courses take place at the Crowne Plaza Brussels Airport (Da Vincilaan 4, 1831 Brussels), a four-star hotel located 5 minutes from Brussels National Airport and 30 minutes by taxi from Brussels South train station (Thalys, TGV, Eurostar).

  • 21-22 September 2023, face-to-face in Brussels

    Day 1: 10:00 - 16:45 CET (Brussels/Amsterdam/Paris)
    Day 2: 08:30 - 16:15 CET (Brussels/Amsterdam/Paris)
  • 14-15 November 2023, live online

    Day 1: 10:00 - 16:30 CET (Brussels/Amsterdam/Paris)
    Day 2: 09:30 - 17:00 CET (Brussels/Amsterdam/Paris)


Hotel Booking Assistance

As part of our strong relationship with the Crowne Plaza Brussels Airport, CELforPharma has secured a discount on the daily room rate for our delegates who book their accommodation via us. Upon your registration, we will assist you to make your hotel booking. For any assistance in this matter please do not hesitate to contact Kealeigh Steel, Senior Programme Coordinator (kealeigh.steel@celforpharma.com, tel +32 (0)2 709 01 45).

Included in the Registration Fee - for the live online course​

  • Access to a small-class (max 20 participants), expert led course in real-time, using an interactive platform for break-out rooms, whiteboard exercises, polling, plenary discussions and chats.
  • Course material, which will be provided to you in both digital format (by email) and in hard copy (by post, so you can make notes during the course).
  • Certificate of attendance signed by the expert and CELforPharma.


Included in the Registration Fee - for the face-to-face course

  • Participation in a small-class (max 20 participants), expert led face-to-face course with interactive group exercises and plenary discussions. You will have the opportunity to meet the expert(s) and discuss your own projects/issues during the breaks.
  • Course material, which will be provided to you in both digital format (by email) and in hard copy (so you can make notes during the course).
  • Coffee, tea & refreshments during the course.
  • Informal networking lunch.
  • Group dinner in the evening of Day 1.
  • Certificate of attendance signed by the expert and CELforPharma.


Group Discounts

Team discounts can be offered to 3 or more delegates from the same company.
Contact Annelies Swaan, Director Business Operations, (aswaan@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 and company / invoicing details.
  3. Choose to pay via bank transfer or by credit card (through a secure payment link, which you will receive together with the invoice).
  4. Click "Confirm Registration". You will be sent an automatic email confirming your registration followed by a personal email containing an invoice and further payment instructions.

For assistance in registering, raising a PO or invoicing, please do not hesitate to contact Kealeigh Steel.
(email: kealeigh.steel@celforpharma.com or call: +32 2 709 01 45)


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 3 weeks prior to the event, to another course of the same value held within one year of the original course date.

Registration Cancellation

  • Less than 14 days prior to the course date: registrant liable to pay the full invoiced registration fee.
  • Between 15 and 30 days prior to the course date: registrant liable to pay 50% of the invoiced registration fee.
  • More than 30 days prior to the course date: registrant liable to pay a cancellation fee of € 450 per registrant.
  • If a registrant postpones his/her participation to a future course, and cancels again, no refund can be claimed for registration fees.

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