Venture Valuation
Venture Valuation specializes in independent assessments and valuations of companies in high-growth markets, such as biotechnology, life sciences and medical technology. Further more, the company runs the global Biotech Database (www.biotechgate.com) as a subscription service as well as a white label solution for clients like BIOTECanada, BioCom San Diego, Maryland, HTX, OneNucleus, Swiss Biotech Association, SwedenBIO, Medicon Valley and many more.
Company Valuation:
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The Company Valuation Reports include a thorough assessment of the company by experienced professionals with expertise in the relevant fields as well as the following elements:
- summary of key risk parameters and strengths of the company
- outline of the crucial factors and value drivers for growth and further strategic development
- assessment of the management, market, science, technology and products
- analysis of the company’s business model and the company’s competitive environment
- detailed calculation of the company’s financial value, using appropriate valuation methods
Product Valuation:
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Venture Valuation offers detailed Product Valuation Reports of pre-clinical and clinical products in development that can serve as a basis for negotiations or to structure different deal scenarios. The Product Valuation includes:
- detailed analysis of development costs, time lines, patient population, competing products, pricing and product life cycle
- industry gold standard rNPV valuation methodology based on indication-specific attrition rates and the development stage
- scenario and sensitivity analyses
- analysis of the current value, and forecasts of the future value following the successful completion of key development milestones
As an “add on” module and based on Venture Valuation’s deal database within Biotechgate, benchmarking deals can also be included to provide the client with a differentiated negotiation basis and comparable information.
Licensing Candidate Search:
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Based on unique valuation and industry expertise, and leveraging access to the proprietary client and products database, Venture Valuation offers individual, tailor-made solutions to customers. The Licensing Candidate Search includes licensing partner identification and an evaluation of potential products for licensing.
Biotechgate Database:
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Venture Valuation has developed and maintains the Biotechgate Database (biotechgate.com). Biotechgate is a global life sciences directory established in 2004 based on the needs of investors and company managers to access accurate and up-to-date industry intelligence.
The database contains over 30’000 company profiles. For Business Development managers, the database provides benchmarking licensing opportunities as well as detailed financial information covering more than 1’600 licensing deals involving therapeutic products and over 5’000 financing rounds.
Dr Patrik Frei
CEOVI Partners
VC fund focusing on investments in Switzerland and surounding areas
Arnd Kaltofen
General PartnerDiego Braguglia
General PartnerviDA Therapeutics
viDA is a preclinical biotechnology company pursuing the development of first-in-class drugs for the treatment of several inflammatory and age-related conditions of the skin, respiratory, musculoskeletal, cardiovascular, and neurological systems.Our platform is based on recently identified, specifically extracellular, pathological roles of a family of serine proteases called Granzymes.
Currently, our focus is specifically on extracellular Granzyme B (GzmB) and its role in a range of disease states involving inflammation and tissue damage. GzmB actively participates in the degradation of key components of the body’s extracellular matrix, which acts as a scaffold for cell binding and provides essential structural integrity for proper function of tissues and organs.
Based on this new mechanism of action, these molecules have shown positive therapeutic outcomes in a number of disease-specific models. viDA has been reviewing MS and the orphan indication of Discoid Lupus specifically.
Our lead compound is in preclinical development and is intended to be a topical treatment for Discoid Lupus. The lead candidate exhibits a high degree of specificity and selectivity for extracellular GzmB. The compound has attractive drug-like properties for topical application and is being assessed for other possible routes of administration amenable to treatment of other diseases.
The Company has developed a library of additional proprietary first-in-class small molecule inhibitors to GzmB. These innovative molecules will have specific properties amenable to treatment of diseases requiring different routes of administration. Studies using inhibitors and knockout approaches have demonstrated that GzmB inhibition does not suppress immunity.
Alistair Duncan
President & CEOVigilant Biosciences Inc.
Vigilant Biosciences, Inc. (“Vigilant”) is an oncology-focused company providing early intervention for better outcomes. Our initial products include a quantitative lab assay as well as an oral rinse and test strip kit for head and neck squamous cell carcinoma (HNSCC). The products are scheduled for product launch in 2015 to compete in the $3.9B US and $10.2B global HNSCC markets.
Unmet Clinical Need
It is estimated that some $3.9B will be spent treating the 50,000+ people in the U.S. that are diagnosed with oral cancer in 2014. Currently, a visual and physical examination is the “gold standard” for oral screening followed up with biopsy, but 2/3 of cases are diagnosed at Stage III or Stage IV with this method. However, early intervention yields 80% - 90% cure rate representing a potential savings of $2B if the oral cancer is diagnosed at Stage I/II or earlier. What is missing is a simple, specific and cost-effective test that can screen and aid in detection for early stage oral cancers.
The Solution
The Vigilant oral cancer risk assessment kit is formulated to detect proteins specific to oral cancer captured by an oral rinse. Competitively priced, the test kit’s ease-of-use will be championed by clinicians; its specificity to minimize false positives and to detect oral cancer early will be championed by patients and doctors, and its cost-effectiveness will be championed by all.
Technology
U.S. Patent #8,088,591 issued in early 2012 for broad method claims to associate certain key biomarkers specific for oral cancer as part of the technology portfolio exclusively licensed to Vigilant from the University of Miami. Additional U.S. and international patent applications subject to the licensed portfolio are pending.
Competitive Advantage
The current “gold standard” for screening is a visual/manual oral examination given by the dental professional as part of the annual checkup standard of care followed up with biopsy for suspicious lesions. However, over 2/3 of all oral cancers are identified at Stage III or Stage IV. Vigilant seeks to revolutionize the oral cancer screening market by providing an easy-to-use, HNSCC specific test that allows for detection even before visual symptoms present.
Currently, there are several light-based systems and limited lab tests attempting to address the need for earlier intervention. Light based systems include spectroscopic and chemiluminescent-based (light-based aid requiring use of acid or dye) offerings. Lab based systems include liquid cytology or HPV tests. Insufficient and inconclusive clinical data exists to support widespread acceptance of current offerings as screening or diagnostic aids and tools for HNSCC. With respect to the light-based systems additional drawbacks of these systems include that: (1) They address “abnormalities” in general versus HNSCC specifically; (2) They can require a significant upfront capital investment; (3) They are labor intensive and disruptive to business operations for dental practices; (4) Some are invasive requiring tissue excision; and (5) Results can be subjective depending on the examiner. Lab-based system drawbacks include lack of proven clinical utility with its results and the costs.
The Vigilant solution overcomes these drawbacks by: (1) detecting protein markers specifically for oral cancer; (2) requiring no significant capital investment; and (3) providing “easy-to-use” and “low touch” instructions to provide immediate and objective results.
Matthew Kim
CEOVisionScope Technologies
VisionScope Technologies (VSI) is an early stage medical device company utilizing state of the art video hardware, micro-optics (1.4mm) and advanced computational software to bring arthroscopic imaging to the surgeon’s office. The company’s VisionScope Imaging (VSI) system brings gold standard accuracy into the clinic, providing surgeons with direct visualization of patients’ joint space – views that could previously only be achieved in the operating room – providing better outcomes at a lower cost to both MRI and OR based diagnostics.
Benefits of VSI:
· High definition quality of a VSI diagnostic can eliminate the need for a MRI and rule out OR based diagnostic surgery
· More detailed and accurate than a MRI for joint conditions
· Significantly reduces the cost of care for individuals and overall healthcare systems
· Patient centric exam – the patient participates in treatment discussion
Hjalmar Pompe van Meerdervoort
CEOVital Venture Capital
Vital Venture Capital, founded in 2007, is a venture capital firm with offices in: Simsbury, CT; Bethesda, MD; Philadelphia, PA; Naples, FL; and Lincolnshire, IL. The firm focuses on B2B, SaaS software, medical devices, and diagnostics. The firm seeks opportunities that provide some degree of investment loss protection through strong intellectual property. The firm’s target investment size is $1-3M for each portfolio company spread over 1-3 rounds. The firm invests in companies that are based in the US. The firm is actively seeking new investment opportunities.
Craig Asher
PrincipalVolcano Capital
Volcano Capital is a family office/venture capital firm based in New York. The firm manages an evergreen fund that operates free from the constraints of traditional venture capital funds. The firm seeks to make seed, venture, and growth equity investments in early to mid-stage medical device companies, but will also consider secured debt to help revenue generating companies with short term cash flow issues. The firm will also consider pre-seed investments. The firm can allocate anywhere from $1M to $10M per company, but generally allocates around $8M. The firm typically does 3 rounds of financing with an initial investment of around $3M. The firm is geographically agnostic, but highly prefers to invest in companies that are based in the US. The firm seeks to make about 3-4 allocations in the next 6-9 months.
Volcano Capital is currently looking for medical device companies with a strong emphasis on products with a 510(k) regulatory pathway. In terms of subsectors, the firm is looking for products specifically in the areas of interventional radiology and cardiology, spine/orthopedics and minimally invasive surgery. The firm is generally opportunistic in terms of indication.
Brian Grulke
AssociateWalter Greenblatt & Associates
Our clients are early-stage biotechnology, medical device, diagnostics and pharmaceutical service companies. When we begin working with a client they are frequently looking to complete proof-of-concept studies, secure intellectual property and other critical preliminary tasks. Typically we raise the first round ($1 - $5 million of capital) needed to accomplish these milestones, usually, but not always from angel investors. After key milestones have been achieved using that money, we generally follow by raising a second round of $5-20 million, usually institutional money, for development and growth
By working this way, we increase our clients' success rate raising capital and building their companies and the returns to the investors we bring into those companies. We have raised over $80 million in early stage funding for our clients (in Seed, Series A and Series B rounds) and delivered realized returns, so far, over $500 million—a realized return to date of over 6X—to the investors who provided that early stage capital, with a number of the companies still driving towards an exit that may increase that figure. Realized (cash-on-cash) internal rates of return for a hypothetical investor who participated in each round of financing offered by WG&A to date exceeds 65% annually.