Given the current state of the financial markets, many companies are turning to collaboration as an alternative means of funding.  There are many different types of collaborations, and each requires a significant amount of planning as well as understanding the pros and cons for current and future stakeholders. 

The panelists will discuss important items to consider when developing a collaboration strategy including:

• Executive management's needs and goals for an alliance
• Choosing the right partner
• Financial modeling, valuation analysis, and comparable deal considerations

 In addition, the panelists will talk about how to effectively execute a deal, focusing on: 

• The types of resources and skill sets required for optimal execution
• Critical governance considerations and the areas of potential tension
• Determining the need for and when to engage external advisors
• Identifying key deal terms and deal breakers
• Due diligence

 To wrap things up, the panelists will briefly discuss how to manage effectively a collaborative arrangement post-deal.

Moderator:

• Thomas Hess, CPA, senior vice president of finance and CFO, Yaupon Therapeutics, Inc.

Panelists:

• Jim Dentzer, CFO, Amicus Therapeutics
• P. Sherrill Neff, managing partner, Quaker BioVentures
• Christian Schade, senior vice president, finance & administration and CFO, Medarex, Inc.
• Kevin Taylor, vice president, business development, Adolor Corporation

As capital markets continue to evolve, it has become increasingly important to be aware of the trends taking place within both traditional and non-traditional funding arenas.  This session will provide an overview of capital markets year-to-date, including IPOs, mergers, and public/venture/private financings.

The session will focus specifically on:

• Current market trends and expectations for the next 12 months
• Financing alternatives for companies in various stages of growth, including venture debt, royalty financing, SPACS, and non-dilutive alternatives such as grants and collaborations
• Deal structuring and issues surrounding various types of instruments
• Deal negotiation from both an investor and company perspective, including how a venture capitalist and/or private investor views valuations, companies, and risk/reward calculations in the current environment

Moderator:

• Walter Greenblatt, managing director, Walter Greenblatt & Associates

Panelists:

• Mel Billingsley, Ph.D., president & CEO, Life Sciences Greenhouse of Central Pennsylvania ( Presentation)
• Zev Scherl, general partner, NewSpring Capital
• Chris Schnittker, CPA, vice president & CFO, VioQuest Pharmaceuticals, Inc.
• Gary Sender, CFO and vice president of finance & administration, Tengion Inc.
• Anne VanLent, president, AMV Advisors

Recently there has been a dramatic shift in the drug development and product commercialization activities within the bioscience industry. This trend is evidenced by:

• Legacy drugs coming off patent in record numbers.
• New R&D programs continuing to fail to meet FDA, management, and investor expectations.
• Cost containment and transformation programs that continue at a record pace but cannot make up for lost revenues.

This convergence of events is leading to increased levels of merger and acquisition activity, divestiture, product-sharing, co-development and co-promotion, and other creative strategic transactions. 

This panel will review a diversified array of recent transactions consummated in 2007 and 2008 year-to-date by New Jersey and/or Pennsylvania biotechnology and pharmaceutical companies that are representative of the current environment, which is bringing these two industry segments together to capitalize on their respective financial, R&D, commercialization, and clinical core competencies.  The panelists will also discuss how this trend will continue to evolve in the future. 

Moderator:

• Robert Esposito, national lead partner, transaction services, KPMG LLP

Panelists:

• Richard Kender, senior vice president, business development & corporate licensing, Merck & Co., Inc.
• Karen LaRochelle, executive director, business development, Bristol-Myers Squibb Company
• Peter Pfreudschuh, former executive director, business and corporate development and licensing, AstraZeneca and current CFO, CircuLite
• Charles Rowland, Jr., former executive vice president, CFO and treasurer, Endo Pharmaceuticals and current vice president & CFO, ViroPharma Incorporated