Life Sciences Outlook 2012 Dutch biotech companies ... - NautaDutilh

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“You don’t start a biotech company in your basement.” Founder of several biotech companies 12
It is frequently suggested that technology transfer would benefit if those few individuals who possess both an academic track record and experience in building successful companies could be involved in the process. At present, those responsible are sometimes administrators or department heads, whose main performance indicators relate more to the department’s smooth operation and scholarly success rather than to entrepreneurial output. On an institutional level, universities should adopt valorisation as the third pillar (next to research and education) of their existence. Several interviewees suggested that government funding for entrepreneurial activities in the early seed phase should be increased, more focused and better structured. Given these criticisms and suggestions for improvement, it is not surprising that in many interviews the Flemish VIB (‘Flemish Institute for Biotechnology’) is mentioned as a ‘best practice’ in the technology transfer of biotech that could be emulated in the Netherlands (see box on ‘VIB’). Adoption of the ‘VIB model’ would ideally achieve the following: • The ‘Netherlands Institute for Biotechnology’ (‘NIB’) would be run by a very experienced, well-connected industry champion with a high reputation. Its focus would be on the developing of start-up companies, which would be ready for a further venture capital-backed existence. Decisions on the selection of discoveries to be taken on board would be made – similarly to the way VCs operate – with strong input from top ‘NIB’ scientists. • A clear and transparent organizational framework for scientists who seek to develop their ideas, discoveries and innovations into a proof of concept and start-up business. The ‘NIB’ would provide (follow-on) research and other facilities. • A clear and incentivising structure on IP rights and future entitlements from the business, with a fair distribution between the university, the researcher/ entrepreneur and the ‘NIB’/financing party. • Universities would co-operate and possibly compete in having their ideas validated and taken up by the ‘NIB’. Participating universities could, for instance, each get a fixed basic amount of remuneration based on the overall results of the ‘NIB’, with ‘tracking stock’ or a similar device enabling them to receive additional revenue from companies originating from their own university. • A focused and efficient structure which the government could initiate by making a relatively limited investment, starting for example at €20 million per year (e.g. for at least 5 years). This would have the potential, within a relatively short period, to result in a self-supporting institute, with revolving funding, that would simultaneously serve the policy goals of healthcare economics and of Dutch economic development. Life Sciences Outlook 2012 Dutch biotech companies: from start-up to exit 13
Page 1: Life Sciences Outlook 2012 Dutch bi
Page 5 and 6: Table of contents. Preface 3 Introd
Page 7: will flow through the Netherlands O
Page 10 and 11: Academic institutes as the Petri di
Page 14 and 15: Best practice in life sciences tech
Page 16 and 17: The role of government “One thing
Page 19 and 20: 2. Investing. At the point that a s
Page 21 and 22: “We also have ourselves to blame,
Page 23 and 24: “Life sciences are far more diffi
Page 25: The evolving relationship between m
Page 28 and 29: A lack of ambition or healthy reali
Page 30 and 31: The term ‘strategic alliance’ i
Page 33 and 34: 4. Exit strategy. The last stage in
Page 35 and 36: In each case, a decision will have
Page 37 and 38: “IPOs are currently financing eve
Page 39 and 40: The technical IPO or even a hybrid
Page 41 and 42: However, the government could becom
Page 43 and 44: Galapagos NV: Onno van de Stolpe (C
Page 45 and 46: About Niaba. The Netherlands Biotec
Page 47 and 48: The Netherlands The Netherlands Joh
Page 49 and 50: The Netherlands Belgium Bart van Ke
Page 51 and 52: Disclaimer. This publication contai
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Life Sciences Outlook 2012 Dutch biotech companies ... - NautaDutilh

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