Market Report Source

Overview

Over the past 30 years the biotechnology industry has evolved rapidly, resulting in changes to biopartnering dynamics. Out-licensors now command greater power and leverage over the licensing of their technologies, changing the approach of out-licensing at various stages of the lifecycle and highlighting the need for biotechnology companies to adapt existing strategies to optimize this process. ‘Biopartnering Strategies’ is a unique report from the Drug Discovery series that provides an essential guide to the biopartnering process, for both in-licensing and out-licensing companies. Detailed case studies of biopartnering strategies at different phases of lifecycle development and in-depth analysis of deal trends will ensure that you can identify best practice alliance and licensing strategies and formulate successful deals. Use this report to implement the optimal biopartnering strategy for your company’s needs as it progresses through the ‘pioneer’, ‘growth’ and ‘consolidation’ stages of the lifecycle and ensure you recognize opportunities for growth in this high profit market.

Table of Contents

Biopartnering Strategies

Executive Summary

Biopartnering trends

Licensing across the biotechnology lifecycle

The biopartnering process

Biopartnering for ‘pioneer’ companies

Biopartnering for ‘growth’ companies

Biopartnering for ‘consolidation’ companies

Chapter 1 Biopartnering trends

Summary

Introduction

A maturing biotechnology industry

A shift in biopartnering trends

Strategic implications

Chapter 2 Licensing across the biotechnology lifecycle

Summary

Introduction

The biotech company lifecycle

‘Pioneer’ companies

‘Growth’ companies

‘Consolidation’ companies

iv

Chapter 3 The biopartnering process

Summary

Introduction

Biopartnering complexity

The biopartnering process

Biopartnering strategy

Opportunity identification

Biotechnology out-licensors

Biopartnering in-licensors

Licensing evaluations

Deal-making and agreement

Post-deal management and analysis

Chapter 4 Biopartnering for ‘pioneer’ companies

Summary

Introduction

Biopartnering objectives

Case study: IDM Pharma

History

Financials

Key collaborations

Medarex

Sanofi-Aventis

Other key events

Jenner Biotherapies

Epimmune

Pharmexa

Recommendations

Chapter 5 Biopartnering for ‘growth’ companies

Summary

Introduction

Biopartnering objectives

v

Case study: Millennium Pharmaceuticals

History

Financials

Key collaborations

Sanofi-Aventis

Integrilin

Ortho Biotech

Other key events

Leukosite

COR Therapeutics

Velcade launch

Recommendations

Chapter 6 Biopartnering for ‘consolidation’ companies

Summary

Introduction

Biopartnering objectives

Case study: Biogen IDEC

History

Financials

Key collaborations

Schering AG

Elan

PDL BioPharma

Other key events

Biogen IDEC merger

Conforma Therapeutics

Fumapharm

Recommendations

Chapter 7 Appendix

Primary research survey

Index

vi

List of Figures

Figure 1.1: Number of biotechnology M&A deals by partner, 1996-2005

Figure 1.2: Biopartnering by in-licensing partner, 1996-2005

Figure 1.3: Biopartnering by stage of development, 1996-2005

Figure 2.4: Evolutionary growth stages for biotech companies

Figure 2.5: Biotech company growth drivers

Figure 2.6: Key biotech company growth phases

Figure 2.7: The biotechnology industry split by development phase

Figure 3.8: Expected change in number of biopartnering deals over next 12 months

Figure 3.9: Expected change in value of biopartnering deals over next 12 months

Figure 3.10: Expected change in number of potential partners chasing each biopartnering deal over

next 12 months

Figure 3.11: The biopartnering licensing process

Figure 3.12: Outside partners involved in identifying potential biopartnering opportunities

Figure 3.13: Outside partners involved in due diligence for potential biopartnering opportunities

Figure 3.14: Key information shared between partners during negotiations over biopartnering

agreements

Figure 3.15: Valuation techniques used to support negotiations over biopartnering agreements

Figure 3.16: Outside partners involved in the valuation and negotiation of biopartnering agreements

Figure 4.17: IDM Pharma’s revenues, 2005

Figure 4.18: IDM Pharma’s key financials, 2000-2005

Figure 5.19: Millennium Pharmaceuticals’ revenues, 2005

Figure 5.20: Millennium Pharmaceuticals’ key financials, 1994-2005

Figure 6.21: Biogen IDEC’s revenues, 2005

Figure 6.22: Biogen IDEC’s key financials, 1991-2005

Figure 7.23: Licensing trends survey respondents by company focus

Figure 7.24: Licensing trends survey respondents by functional responsibility

Figure 7.25: Licensing trends survey respondents by licensing responsibility

List of Tables

Table 1.1: The global biotechnology industry by region, 2005

Table 1.2: Growth in the global biotechnology industry, 2004-2005

Table 1.3: Biotechnology equity financing trends in North America and Europe, 2004-2005

Table 1.4: Biotechnology blockbusters, 2003-2005

Table 4.5: IDM Pharma’s clinical development pipeline, 2006

Table 5.6: Millennium Pharmaceuticals’ clinical development pipeline, 2006

Table 6.7: Biogen IDEC’s clinical development pipeline, 2006