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BC Biotech Forum On Financing Biotechs: Partnering The Biotech Perspective May 15, 2002 Celia Courchene VP, Business Development Xenon Genetics Inc. Xenon Genetics – Background Private genomics-based drug discovery/development company Founded 1996 by Drs. Michael Hayden, Simon Pimstone & John Kastelein (all clinical scientists) Based in Vancouver; expanded to Montreal through the acquisition of RGS Genome in 2000 Currently 100 FTE’s, including 33 MD’s, MD/PhD’s, PhD’s Raised >$87 M to date, including $74 M in the mezzanine round in 2001 (Investors = Fidelity, Invesco, JP Morgan, Novo & Pfizer) Experienced Management Team & Board Xenon Genetics – Strategic Plan Near Term (2002) Mid Term (20032004) Longer Term (2005+) Integrated drug discovery company Develop portfolio of high value drug targets and compounds Forward integrate into pre-clinical and clinical development Advance drug candidates to proof-of-principle in human trials Genomics-based pharmaceutical company Develop/market new drugs addressing unmet clinical needs Xenon Genetics – Partnering Experience Corporate – Pfizer • License – ABCA1 gene for the development of small molecule therapeutics for elevating HDL-cholesterol • Multi-year research funding Academic – University of Wisconsin – McGill Clinical Xenon Genetics – Clinical Collaborations CANADA CVD, CNS DENMARK CVD, CNS NETHERLANDS CVD FRANCE CNS ITALY Metabolic TURKEY Metabolic BRAZIL CNS LEBANON CNS ARGENTINA CNS TUNISIA CNS 24 collaborations covering 35 distinct and informative populations SOUTH AFRICA Metabolic Biotech Partnering – Objectives Infancy – Access Technology (in-licensing) • Academic institutions Mid Life – Exploit Own Technology (out-licensing) • Third Party Validation • Pharma • Wall / Bay Street • Assist with financings • Close private rounds • Go public • Cash for operations • Build Infrastructure • Access External Expertise • Development & Marketing – Access Capabilities • CRO’s Mature – Build Pipeline (in-licensing) Biotech Partnering – Deal Structures Partnering structures can include: – Research collaborations – In licenses – Out licenses – Options – CRO Agreements – JVs / Partnerships – M&A – Spin out – Co-promotion – . . . (permutations & combinations of the above) Biotech Partnering – Deal Structures Deal structure dependant on & limited by: – Partnering Objectives – Market • Therapeutic Market • Disease indication • Competitive products • Product differentiation • Partnering Market • Potential partners • Competitive products • Product differentiation – Creativity Biotech Partnering – Tips for Success Choosing Your Partner Preparation Closing the Deal Relationship Maintenance BC Biotech Forum On Financing Biotechs: Partnering The Biotech Perspective May 15, 2002 Celia Courchene VP, Business Development Xenon Genetics Inc.