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Download DIA 2008 Annual Meeting
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Millennia Sales & Marketing in a Challenging Economy How to Sell to VC’s Robert W. Jevon Partner Boston Millennia Partners Boston Millennia Partners March 27th, 2009 30 Rowes Wharf Boston, MA 02110 Tel. 617 428.5150 Fax. 617 428.5160 ©www.bmpvc.com 1999 Boston Millennia Partners -1- Millennia Partners BMP Overview Boston Millennia Partners – a venture capital firm that evolved from Boston Capital Ventures in 1997 ▲ 10 investment professionals ▲ 100 years of venture capital experience ▲ $700M+ in assets under management ▲ 100 direct investments and 150 acquisitions completed ▲ New fund is focused on healthcare and life sciences Proven Core Acquisition Investment Strategy Investors and Partners from 14 countries worldwide Strategic and investor relationships with IBM Corp. (Healthcare) and PAREXEL International Corp. (NASDAQ: PRXL) Located in downtown Boston © 2009 Boston Millennia Partners CONFIDENTIAL -2- Boston MillenniaPartners Millennia Partners Massachusetts Healthcare Portfolio (Sold to Incyte Genomics, 12/00) Protein Platform (Sold to Oxford Health Plans, 3/02) HMO (IPO: 1997) (Nasdaq: EPIX) Orthopedic Devices (IPO: 1996) Contract Research Organization (IPO: 1/97) Pharmaceuticals Health Care Information Technology (Sold to Merck, 6/06) Protein Platform Drug Development (Sold to Cedara Software, 10/04) Healthcare Internet Services Drug Development Clinical Trial Solutions © 2009 Boston Millennia Partners CONFIDENTIAL -3- Boston MillenniaPartners Millennia Partners The Venture Capital Perspective © 2009 Boston Millennia Partners CONFIDENTIAL -4- Boston MillenniaPartners Millennia Partners It’s not just the money… © 2009 Boston Millennia Partners CONFIDENTIAL -5- Boston MillenniaPartners Millennia Partners It’s ONLY the money… © 2009 Boston Millennia Partners CONFIDENTIAL -6- Boston MillenniaPartners Millennia Partners Equity Investments in VC Backed Healthcare Companies Amount Invested ($B) $3.0 $3.0 Amount Invested ($B) $2.7 $2.3 $2.3 $2.0 $2.3 $2.3 $2.6 $2.4 $2.2 $2.1 $2.2 $1.9 $1.8 $1.5 $1.0 $0 4Q05 2Q06 4Q06 2Q07 4Q07 2Q08 4Q08 Source: Dow Jones VentureSource © 2009 Boston Millennia Partners CONFIDENTIAL -7- Boston MillenniaPartners Millennia Partners Value, Spend, Risk Profile Phase I Seed Stage $$$ © 2009 Boston Millennia Partners CONFIDENTIAL Phase II Early Stage $$$ -8- Phase III Growth Stage $$$ Boston MillenniaPartners Millennia Partners Who gets the money? © 2009 Boston Millennia Partners CONFIDENTIAL -9- Boston MillenniaPartners Millennia Partners What’s behind the curtain? 1. Verifiable Data 2. Strong IP with a reputable firm 3. Clear rationale & milestones 4. Cost effective use of capital 5. Careful competitive analysis 6. Practice changing therapeutics 7. Clear mechanism of action 8. Proprietary platform 9. Multiple shots on goal © 2009 Boston Millennia Partners CONFIDENTIAL - 10 - Boston MillenniaPartners Millennia Partners Risk Factor Checklist • Compound Risk • IP Risk • Clinical Risk • Approval Risk • Market Risk • Management Risk • Syndicate Risk • Reimbursement Risk © 2009 Boston Millennia Partners CONFIDENTIAL - 11 - Boston MillenniaPartners Millennia Partners Expected Questions (cracking the code) How will this change clinical practice? i.e. - Why will doctor prescribe? How can you shorten time lines? i.e. - Are they realistic? Tell me a little more about your background i.e. - Are you the right CEO? Why does the control arm only have 120 subjects? i.e. - Do you know what you’re talking about? What kind of an exit do you anticipate? CAN I CONVINCE MY PARTNERS DO TO THIS DEAL??? © 2009 Boston Millennia Partners CONFIDENTIAL - 12 - Boston MillenniaPartners Millennia Partners Investment Decisions How hard the partner bangs the table © 2009 Boston Millennia Partners CONFIDENTIAL - 13 - Boston MillenniaPartners Millennia Partners Investment Decisions Who else is around the deal © 2009 Boston Millennia Partners CONFIDENTIAL - 14 - Boston MillenniaPartners Millennia Partners Investment Decisions Strength of due diligence © 2009 Boston Millennia Partners CONFIDENTIAL - 15 - Boston MillenniaPartners Millennia Partners Investment Decisions Has the CEO made money before © 2009 Boston Millennia Partners CONFIDENTIAL - 16 - Boston MillenniaPartners
