Smb 13032014 hve jack schalken oncodrone
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Transcript of Smb 13032014 hve jack schalken oncodrone
..the entrepreneurial scientist…or..the scientific entrepreneur..
Learning by doing!
S’thing about me Jack A Schalken
Background Current job Ambition…
Research director (‘86)-and Professor of experimental urology (2001)
CSO Noviogendix (2006)CSO Oncodrone (2013)
Make a difference in diagnosis and
treatment ‘..personalized medicine..’
Why NovioGendix ?
• Co-founders were early developers and users of (molecular) Dx
• Gap between research-(RUO), LDT- and IVD-clinical test• Co-founders combined respective expertise of discovery
and clinical validation with - implementation• Growing support in the market• ‘…the PCA3 case…’• Logical extension of translational R&D activities at RUMC• Profit for investors, science, RUMC and founders
Pre‐pre fase Business plan Founding NG Series A financing CEO/NG facility2000‐2005 2006 11‐2006 12‐2007 5‐2009
‘..Every large fluctuation is associated with (expectations of) PCA3..’All critical work including clinical studies weredone @RUMC
‘..Pre‐valorisation era @ RUNMC..’Founding scientists seek business developer
TTT, Term sheet Tango a TroisBGV/PPM Oost‐founders‐RUNMC
‘my BV’
Most ‘entrepreneurial scientists regarded the new streamlined route towards a spin off as ‘quit an improvement’
NovioGendixWinnaar van
Mercator Award 2009 for
Knowledge‐Based Entrepreneurship
Critical steps
• Negotiate and settle terms with Radboudumc (‘..we were front runners..’)
• Dedicated lab space (pre-NovioTech ..)• Hand picked and committed employees/employees on NG contracts • From founding management team to an MT led by new full time CEO• From ’green rookies’ to entrepreneurial scientists with their first
experiences gained and illusions lost, like..• If you don’t deliver you dilute• No ‘freebies’ in this business
• Learn the language of Business Administration• E.g. an ‘EXIT’ is not synonymous with ‘The End’• A bridge financing is like a life support system (i.e. if you pull the plug,
you’re ‘dead’)• …
The money thing….
• Take ‘€ burn rate’ seriously• Anticipate to (additional) financing needs• Prepare well for the discussion with the existing share holders
• Understand relative position of the partners (VCs, founders, RUMC)• Understand the financing instruments (CLA, new shares..)
• Financial planning should be realistic rather than optimistic• Take advantage of ‘grants’
• WBSO• CTMM/PCMM partner• ETB/ARIBCA partner• EFRO/UltrasenseMR partner
• Only do so when they fit within business plan of the company (since, usually the grants require in kind and/or cash contribution from SME)!
Clinical Study
1 2 3 42009
1 2 3 42010
1 2 3 42011
1 2 3 42012
1 2 3 42013
1 2 3 42014
1 2 3 42015
1 2 3 42008
QuarterYear
Service laboratory
NovioGendix Pipeline
PCa early detection
(urine)
PCa tissue panel
BCa early detection
(urine)
BCa tissue panel
Kidney cancer
1 2 3 42009
1 2 3 42010
1 2 3 42011
1 2 3 42012
1 2 3 42013
1 2 3 42014
1 2 3 42015
1 2 3 42008
QuarterYear
Biomarker discovery Validation Clinical StudyLDT
ValidationBiomarker discovery LDT Clinical Study
PCA3Service facility
ValidationBiomarker discovery
LDT Clinical Study CE-test
Biomarker discovery Validation LDT Clinical Study CE-test
Biomarker discovery Validation LDT CE-test
Abbreviations: LDT: Laboratory Developed Test; CE-test: Conformité Européenne-marked test
Licensing Activities Product Launch
PC-Quattro Quattro
Clinical Study
1 2 3 42009
1 2 3 42010
1 2 3 42011
1 2 3 42012
1 2 3 42013
1 2 3 42014
1 2 3 42015
1 2 3 42008
QuarterYear
Service laboratory
Pipeline
PCa early detection
(urine)
PCa tissue panel
BCa early detection
(urine)
BCa tissue panel
Kidney cancer
1 2 3 42009
1 2 3 42010
1 2 3 42011
1 2 3 42012
1 2 3 42013
1 2 3 42014
1 2 3 42015
1 2 3 42008
QuarterYear
Biomarker discovery Validation Clinical StudyLDT
ValidationBiomarker discovery LDT Clinical Study
PCA3Service facility
ValidationBiomarker discovery
LDT Clinical Study CE-test
Biomarker discovery Validation LDT Clinical Study CE-test
Biomarker discovery Validation LDT CE-test
Abbreviations: LDT: Laboratory Developed Test; CE-test: Conformité Européenne-marked test
Business Devpt Activities Product Launch
PC-Quattro Quattro
Goal; discovery and clinical validation of PrCa test (Quattro)
(400 patient prospective multicenter study incl PCA3 as comparator)
Big Dx
Platform Comp
New Strategy
Times they are a changin’
Oncodrone Est 2013
Identification of
compounds
(hits) from
compound
libraries
Screening and
selection of
compounds in in-
vitro ‘EMT
assays’
Determination of the
toxicity for each selected
compound to facilitate
follow‐up clinical research
Efficacy of the selected
compounds with in
vivo animal models for
the targets of EMT
Synthesizing analogous
tested in the same in‐vitro
assays, resulting in
superior efficacy and
affinity
From concept to drug
Q4 2013Oncodrone
Result of long-standing PP partnership
PRIMA FP6 project2004‐2009
Three targets
PRO‐NET
II project2010‐2013
Compound development
NGI‐Preseed
Company Formation2011‐2013
ONCODRONE
Vehicle(DMSO control)
OCD1555mg/kg/d, i.p.
dorsal ventralResults Bone Metastasis Model
What did I learn from‘..dossier NovioGendix..’
• Work with an experienced team• Take maximal advantage of funding for PP interactions• Appropriate timing of launching the company• I knew ‘’more or less’what I was talking about at the BA level
Conclusions
• We were and are still enthusiastic• Academic spin offs can create ’win win’ situations• Being an entrepreneurial scientist does not threaten your
scientific output (rather the opposite is true)• You have to acquire BA ‘skills’• A constructive relation with the investors is beneficial for
the company as a whole• The Nijmegen campus is now fully ‘equiped’ to house and
launch biotech companies• It is mighty helpful if you are like a sheep with five legs