A trend appears to be emerging in which product licensing discussions morph and conclude in a merger and acquisitions (M&A) deal. Buyers are coming in the form of global pharmaceutical companies and private equity firms. In some cases, the emerging company has been acquired, but a non-core pipeline program is not part of the deal, leaving founders to create a new company around that program.

Panelists in this session will discuss the merits of this strategy:

• How and when to transform the discussion from licensing to M&A?
• What are the downsides?
• Whether this is a viable exit strategy?
• What are the factors that can either inhibit or restrict licensing deals from turning into acquisitions - such as pre-existing change of control provisions, other licensing agreements and encumbrances - versus those that would favor or make an acquisition attractive?

Moderator:

• Geert Cauwenbergh, Ph.D., managing director, Phases123 LLC and chairman & CEO, RHEI Pharmaceuticals

• Todd Brady, M.D., Ph.D., principal, Domain Associates, Inc.
• Barbara Dalton, vice president, Pfizer Venture Capital
• Paul Medeiros, principal, The BioTransactions Group
• H. Joseph Reiser, Ph.D., president and CEO, CureDM Inc.

The development pipeline is the lifeblood of a bioscience company.  Every company is faced with the strategic question of how to best manage pipeline growth to benefit patients through the discovery of innovative therapies while ensuring maximum returns for investors and employees.

• Is it best to stick to developing just one product or is it better to diversify into a portfolio approach?
• Is it better to focus on a platform technology that can apply to multiple products or is it better to spend development dollars on multiple technologies or on a pure product development approach?
• With a platform technology approach, which indications are best?
• Does "IP coverage" of an expanded pipeline suffice or do you have to actually develop the pipeline?
• How will the investors, management, partners, potential buyers, public markets, and other interested constituencies feel about each approach?

This panel will walk attendees through the minefield and provide expert guidance from different perspectives on these critical decisions.

Moderator:

• Jane Hollingsworth, CEO, NuPathe Inc.

Panelists:

• Michael Bozik, M.D., president and CEO, Knopp Neurosciences, Inc.
• Frank LaSaracina, founder, SouthPoint Associates LLC
• Mel Sorensen, M.D., president and CEO, Ascenta Therapeutics, Inc.

• Paul Thomas, former chairman, president & CEO, LifeCell Corporation

For many early- to mid-stage bioscience companies, their journey brings them to a critical juncture.  They have successfully formed their business, discovered, or licensed viable compounds, and have developed the compounds to a point where commercialization planning must begin.  Now is the time for the critical strategic decision of whether to license or sell the compound outright or take the risk of building a commercial infrastructure.  Both options present a unique set of potential risks and benefits. 

Members of this panel have lived through this decision one or more times and will dissect the process of reaching an answer that is right for the situation you are facing.

Moderator:

• Randall Sunberg, partner, Morgan, Lewis & Bockius, LLP

Panelists:

• Annarie Lyles, Ph.D., senior vice president, head of business development, Genmab, Inc.
• Glenn Sblendorio CFO & executive vice president, The Medicines Company
• Barbara Schilberg, managing director & CEO, BioAdvance
• Jack Stover, former CEO, Antares Pharma Inc.
• Steve Tullman, president & CEO, Ception Therapeutics, Inc.