Financing the Dream: Avenues for Raising Capital
Thursday, June 27 2013
8:00 am – 10:00 am
Location: MassBio, 300 Technology Square, 8th Floor, Cambridge, MA
Online registration is now closed. Walk-ins will be accomodated on a first-come, first-served basis.
The current landscape for emerging biotech companies is indeed challenging. The amount of venture capital and strategic dollars allocated towards early-stage compound companies has plummeted significantly over the last three years – funding is scarce, expensive and probably never been harder to secure. Promising companies need to search elsewhere for critical capital. Where are the new sources of capital and how does one identify funding opportunities? Please join us for the second part of our series, as a follow up to our earlier program on Building the Dream, as we explore strategies for securing capital and financing your dream. In this session we will examine the various sources of capital available for emerging companies, hear from experts who have successfully navigated the troubled waters of this financing environment, and discover suggestions for securing those much-needed dollars.
- Jeff Arnold, President and CEO, Arnold Strategies, LLC
- Bernard Davitian, Vice President, BD Licensing & Structured Investments, Sanofi-Genzyme BioVentures
- Michelle Dipp, MD, PhD, Co-Founder and CEO, OvaScience
- Guy Macdonald, President and CEO, Tetraphase Pharmaceuticals
- Marc R. Cote, Chief Operating Officer, Accellient Partners, LLC & Chief Financial Officer, Synchroneuron Inc.
- John Hession, Partner, Venture Capital Financings & Emerging Companies Practice Groups, Cooley LLP
Jeff Arnold, President and CEO, Arnold Strategies, LLC
Mr. Arnold, an active angel investor and member of Boston Harbor Angels, is also a serial entrepreneur of medical device and life sciences companies who advises life science inventors and entrepreneurs on strategy and is active in company formation and financing. From 2001 to 2005 he was CEO of CardioFocus where he developed a unique endoscopic catheter for treating atrial fibrillation - now in human trials. Prior to that he founded Cambridge Heart, Inc. (NASDAQ: CAMH), a supplier of cardiology diagnostic equipment, which he took public in 1996. Prior to that he was CEO of Molecular Simulations, Inc., a $100 MM supplier of software for drug design now called Accelrys (NASDAQ: ACCL). In his early career Mr. Arnold held senior R&D and marketing positions for Becton Dickinson and ran the instrumentation group for medical equipment supplier Datascope Corp.
Mr. Arnold is also a guest lecturer at the MIT Entrepreneurship Center and Sloan School, a mentor to early stage companies through the MIT Venture Mentoring Society and is on the grant review board at the MIT Deshpande Center. He was formerly Chairman of the Board of the Greater Boston Chapter of the American Heart Association. He received a BSEE from MIT.
Marc R. Cote, Chief Operating Officer, Accellient Partners, LLC & Chief Financial Officer, Synchroneuron Inc.
Marc is a Co-founder, Partner and the Chief Operating Officer of Accellient Partners a drug development consulting firm. He is also the co-founder and the Chief Financial Officer of Synchroneuron Inc, a VC-backed clinical stage biotech company that is engaged in developing new therapies for tardive dyskinesia (TD) and other related movement disorders.
Prior to Accellient, he was the Chief Operating Officer of Aptuit’s global consulting practice. Before that he was with Dunkin’ Brands where he held a variety of finance, accounting and shared services roles before leaving as Vice President of Finance and Shared Services. Marc started his career in the Entrepreneurial Services Group at Ernst & Young in Boston where he spent 8 years servicing clients in venture capital, biotech, high-tech and consulting.
Marc is also a member of Boston Harbor Angels.
Bernard Davitian, Vice President, BD Licensing & Structured Investments, Sanofi-Genzyme BioVentures
Bernard Davitian has extensive experience in the life sciences and biotech industry, marked by a number of closed transactions involving financings and M&A. His track record includes, among others, the successful IPO of Transgene on the NASDAQ and Euronext in 1998 ($100 million raised) and the sale of Fovea Pharmaceuticals to Sanofi in 2009 in a €370 million cash transaction.
Bernard joined Sanofi in 2010 as Vice President, Deputy of Global Head, Corporate Licenses and was promoted to Vice President, BD Licensing and Structured Investments in 2012, a role that includes the management of SGBV. Prior to his joining Sanofi, Bernard was EVP & CFO of Fovea Pharmaceuticals, CEO of Neurotech, and EVP & CFO of Transgene. Bernard began his career in the biotech sector by serving in various capacities at Institut Mérieux (now Sanofi Pasteur), including Corporate CFO.
In addition to his SGBV-related Boards of Directors responsibilities, which include Esperance Pharmaceuticals and Kahr Medical, Bernard also represents Sanofi on the Board of Directors of Warp Drive Bio. Mr. Davitian holds a MSc in Management from the Graduate School of Business of Lyon (EM Lyon, France) and an Executive MBA (AMP) from the Wharton School of Business at the University of Pennsylvania.
Michelle Dipp, MD, PhD, Chief Executive Officer and Co-Founder, OvaScience
Dr. Dipp is the founding Chief Executive Officer of OvaScience and serves on the Board of Directors. Dr. Dipp is also a Founder and Partner of Longwood Fund, which founds and invests in healthcare companies such as Alnara (acquired by Eli Lilly) and Verastem. Previously, Dr. Dipp was the Senior Vice President and Head of the CEEDD at GlaxoSmithKline. Prior, she was Vice President of Corporate Development at Sirtris, where she led the successful acquisition of Sirtris by GSK for $720 million. Before joining Sirtris as a founding employee, she worked in healthcare private equity at The Wellcome Trust, London. Dr. Dipp serves on the Beth Israel Deaconess Medical Center Board of Trustees, the Boston Symphony Orchestra Board of Overseers, and the Board of Directors of the City on a Hill Charter School in Roxbury, Mass.
Dr. Dipp holds an M.D. and a Ph.D. from the University of Oxford.
John Hession, Partner, Venture Capital Financings & Emerging Companies Practice Groups, Cooley LLP
John Hession is a partner in the Venture Capital Financings and Emerging Companies practice groups and a member of Cooley’s Business department. He was also former Managing Partner of the Boston office. John represents emerging-growth companies, principally in the medical device, life sciences, software, telecommunications and electronic commerce fields, as well as angels and venture capital funds in the investment process in these sectors. During his thirty-year career, John has participated in, structured and negotiated more than 300 venture and angel financings, 30 public offerings, more than 250 strategic alliances involving technology transfers and joint ventures, and 200+ acquisitions ranging in size from $1.0 million to $4.2 billion.
Guy Macdonald, President and CEO, Tetraphase Pharmaceuticals
Mr. Macdonald has served as President and CEO of Tetraphase Pharmaceuticals since January 2008. He has enjoyed a successful 25 year career in global pharmaceuticals and biotechnology. Tetraphase is developing a portfolio of antibiotics , the lead compound is a broad spectrum antibiotic that has successfully completed Phase 2. In the last 12 months the Company has secured over $100MM of Government contracts to support its development activities.
Prior to joining Tetraphase, he was Executive Vice President, Operations, Idenix Pharmaceuticals where he played a lead role in developing the commercial organization in the U.S. and top five EU countries and was responsible for Regulatory Affairs, Quality Assurance, Manufacturing, Information Technology and Project Management. In addition, he spent twenty-two years of his career at Merck & Co., Inc., initially in the U.K., followed by senior positions in the U.S., culminating as the Vice President for Anti-infective and Hospital Products with sales of more than $1.4 billion. At Merck, Mr. Macdonald had a distinguished career as a senior leader in the areas of virology and anti-infectives which included a number of landmark launches at a global level and implementation of a number of unique Public health initiatives