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Practical Guide to Finding Partners in Pharma and Biotech
3rd edition

CurrentPartnering's Practical Guide to Finding Partners in Pharma & Biotech provides a comprehensive overview of all the steps required to identify and secure partnering either for an in-licensing or out-licensing activity. The report takes the reader through the practical steps required to prepare for partnering, prepare supporting materials, identify and shortlist potential partners and opportunities, identifying and contacting the right person in the partner company, and managing of discussions through to deal negotiation.

In addition, the report provides a detailed overview of the activities a business development executive and a company should be undertaking to build and maintain an extensive contact network, and to become partner of choice, respectively.

The report is structured to take the reader step by step through the process of finding and securing partners.

However, each chapter is also acts an easy access reference to the particular activity. The report contains numerous checklists and summaries of the contents of key documents required during the partnering process. The report is also provides numerous insights drawn from extensive direct industry experience and knowledge of the author and others.

The report provides numerous examples of actual information sources and actual materials utilized by biopharma companies during their partnering efforts, allowing the reader to act on the contents of the report in order to improve their own partnering processes and activities.

Chapter 2 provides an overview of the partnering process and highlights the differences between an inlicensing and out-licensing activity.

Chapter 3 provides a detailed review of the processes required for the successful identification of in-licensing opportunities. From defining the ideal opportunity and marketing partnering needs, through to desk research and short listing opportunities, the chapter takes the reader through the steps in detail and provides tips on how to overcome the most common issues.

Chapter 4 looks at the same issue from the perspective of a company seeking out-licensing partners for its product or technology. The chapter covers the same issues of ideal partner and marketing partnering opportunities, through to desk research and short listing partners. The chapter takes the reader through each step in detail and provides tips on how to overcome the most common problems confronted by those seeking to out-license. The chapter finishes by providing an overview of how to manage multiple parallel discussions with partner companies and the possibility of the partner being an alternative to venture capital funding.

Chapter 5 then looks in detail at the importance of building and maintaining a network of contacts. From discussing how to build and network through to tips on how to network successfully, the chapter provides a comprehensive how to' guide to networking.

The report then progresses in chapter 6 to the packaging of your offering for consideration by prospective partners. From marketing your company and partnering interests through to the preparation of marketing materials, non confidential and confidential dossier and supporting materials, the chapter provides detailed and practical advice on what and how to prepare print and electronic materials in preparation for making contact.

Chapter 7 then goes onto the discuss how to make contact with potential partners in a professional and effective way. The chapter provides an overview of the contact process, guidelines on how to make contact with bigpharma and smaller companies, tips on how to make success contact, managing contacts and then finishes with a detailed overview of the sources of contact information available to the business developer.

The chapter also discusses the important role of partnering meetings in providing an effective and efficient means of initiating multiple discussions with potential partners.

Becoming 'partner of choice' is discussed in detail in chapter 8. The chapter discusses why being partner of choice is important and provides details on the characteristics of companies regarded as partner of choice, and practical advice on how to become partner of choice in your company's chosen areas of interest.

Finally, chapter 9 provides easy to use checklists for a number of the processes discussed in the report, allowing the reader to implement best practice into their business development activities straight away.

In summary, this report seeks to provide the business developer with the knowledge and tools to become more effective in finding and securing partners and opportunities. The report will provide an excellent learning tool for those new to business development and allow more experienced practitioners the opportunity to learn, improve and implement best practice into their business development roles.

Key benefits Practical Guide to Finding Partners in Pharma & Biotech provides the reader with the following key benefits:

• Comprehensive overview of all the steps required to identify and secure partnering either for an inlicensing or out-licensing activity
• Takes reader through the practical steps required to prepare: For partnering o Prepare supporting materials Identify and shortlist potential partners and opportunities o Identify and contact the right person in the partner company
• Provides detailed overview of activities a business development executive and a company should be undertaking to: Build and maintain an extensive contact network Become partner of choice, respectively

Report scope

Practical Guide to Finding Partners in Pharma & Biotech provides a comprehensive overview of all the steps required to identify and secure partnering either for an in-licensing or out-licensing activity. The report takes the reader through the practical steps required to prepare for partnering, prepare supporting materials, identify and shortlist potential partners and opportunities, identifying and contacting the right person in the partner company, and managing of discussions through to deal negotiation.

Practical Guide to Finding Partners in Pharma & Biotech includes:

• Overview of the partnering process and highlights the differences between an in-licensing and outlicensing activity
• Detailed review of the processes required for the successful identification of in-licensing opportunities and out-licensing partners
• Importance of building and maintaining a network of contacts
• Packaging of your offering for consideration by prospective partners
• How to make contact with potential partners in a professional and effective way
• Characteristics of companies regarded as partner of choice, and practical advice on how to become partner of choice in your company's chosen areas of interest
• Easy to use checklists for a number of the processes discussed in the report

Number of pages: The report is comprised of 164 pages.

Executive Summary

Competition for the best technologies and products is higher now than it has ever been. Bigpharma realizes that in order to prosper, securing the best partnering opportunities is of great importance to the overall future prospects of the company. Partnering has also become increasingly important for smaller biopharma companies as they seek to grow development and product portfolios. Indeed many smaller biopharma companies have been built almost exclusively on successfully partnering opportunities not considered 'blockbuster' by the bigpharma companies.

Partnering is also the lifeblood of technology based entities such as start-up, biotech, drug delivery companies and university based research organizations. It is through partnering that such companies and their investors realize the value of their research and development efforts and associated intellectual property.

In order to maximize a company's chances of achieving successful partnerships it needs a bit of luck and a lot of expertise. In particular, partnering requires strategic planning, identification and short listing of potential partners, preparation of partnering materials, making contact, managing of multiple discussions, followed by negotiation, agreement signature and alliance management.

In addition, in a highly competitive market for the best partnering opportunities, a company needs to be established as partner of choice in its chosen areas of interest and have well trained and effectively networked business development team.

CurrentPartnering's Practical Guide to Finding Partners in Pharma & Biotech provides comprehensive overview of all the steps required to identify and secure partnering either for an in-licensing or out-licensing activity. The report takes the reader through the practical steps required to prepare for partnering, prepare supporting materials, identify and shortlist potential partners and opportunities, identifying and contacting the right person in the partner company, and managing of discussions through to deal negotiation.

In addition, the report provides a detailed overview of the activities a business development executive and a company should be undertaking to build and maintain an extensive contact network, and to become partner of choice, respectively.

The report is structured to take the reader step by step through the process of finding and securing partners.

However, each chapter is also acts an easy access reference to the particular activity. The report contains numerous checklists and summaries of the contents of key documents required during the partnering process. The report is also provides numerous insights drawn from extensive direct industry experience and knowledge of the author and others.

The report provides numerous examples of actual information sources and actual materials utilized by biopharma companies during their partnering efforts, allowing the reader to act on the contents of the report in order to improve their own partnering processes and activities.

Chapter 2 provides an overview of the partnering process and highlights the differences between an inlicensing and out-licensing activity.

Chapter 3 provides a detailed review of the processes required for the successful identification of in-licensing opportunities. From defining the ideal opportunity and marketing partnering needs, through to desk research and short listing opportunities, the chapter takes the reader through the steps in detail and provides tips on how to overcome the most common issues.

Chapter 4 looks at the same issue from the perspective of a company seeking out-licensing partners for its product or technology. The chapter covers the same issues of ideal partner and marketing partnering opportunities, through to desk research and short listing partners. The chapter takes the reader through each step in detail and provides tips on how to overcome the most common problems confronted by those seeking to out-license. The chapter finishes by providing an overview of how to manage multiple parallel discussions with partner companies and the possibility of the partner being an alternative to venture capital funding.

Chapter 5 then looks in detail at the importance of building and maintaining a network of contacts. From discussing how to build and network through to tips on how to network successfully, the chapter provides a comprehensive how to' guide to networking.

The report then progresses in chapter 6 to the packaging of your offering for consideration by prospective partners. From marketing your company and partnering interests through to the preparation of marketing materials, non confidential and confidential dossier and supporting materials, the chapter provides detailed and practical advice on what and how to prepare print and electronic materials in preparation for making contact.

Chapter 7 then goes onto the discuss how to make contact with potential partners in a professional and effective way. The chapter provides an overview of the contact process, guidelines on how to make contact with bigpharma and smaller companies, tips on how to make success contact, managing contacts and then finishes with a detailed overview of the sources of contact information available to the business developer.

The chapter also discusses the important role of partnering meetings in providing an effective and efficient means of initiating multiple discussions with potential partners.

Becoming 'partner of choice' is discussed in detail in chapter 8. The chapter discusses why being partner of choice is important and provides details on the characteristics of companies regarded as partner of choice, and practical advice on how to become partner of choice in your company's chosen areas of interest.

Finally, chapter 9 provides easy to use checklists for a number of the processes discussed in the report, allowing the reader to implement best practice into their business development activities straight away.

In summary, this report seeks to provide the business developer with the knowledge and tools to become more effective in finding and securing partners and opportunities. The report will provide an excellent learning tool for those new to business development and allow more experienced practitioners the opportunity to learn, improve and implement best practice into their business development roles.

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Contents

• Executive Summary
• Chapter 1 Introduction
• Chapter 2 Overview of the partnering process
  • 2.1. Introduction
  • 2.2. The general partnering process
  • 2.3. Unique aspects of in-licensing
    • 2.3.1. The in-licensing action plan
  • 2.4. Unique aspects of out-licensing
    • 2.4.1. The out-licensing action plan
• Chapter 3 Identifying in-licensing opportunities
  • 3.1. Introduction
  • 3.2. Defining the ideal opportunity
    • 3.2.1. Creating the 'ideal' opportunity profile
    • 3.2.2. Obtaining buy-in from internal stakeholders
  • 3.3. Desk research
    • 3.3.1. Defining detailed search criteria
      • Therapy focus
      • Technology focus
      • Development phase
      • Geographic focus
      • Technology origins
      • Risk
      • Sales potential
      • Product performance
      • Potential deal terms
      • Potential availability
      • Fit with existing portfolio
    • 3.3.2. Everything is available if the price is right
    • 3.3.3. Conducting desk research
    • 3.3.4. Sources of partnering opportunities
    • 3.3.5. Using the Internet
    • 3.3.6. Using consultants
  • 3.4. Marketing partnering needs to generate interest
  • 3.5. Common issues in identifying opportunities
  • 3.6. Primary, secondary and tertiary opportunities
    • 3.6.1. From long list to short list
    • 3.6.2. Using Excel to sort opportunities versus search criteria
    • 3.6.3. Final internal review
  • 3.7. The role of multiple parallel discussions
• Chapter 4 Identifying partners
  • 4.1. Introduction
  • 4.2. Timing
  • 4.3. Defining the ideal partner
    • 4.3.1. Creating the 'ideal' partner profile
    • 4.3.2. The partnering world consists of more than bigpharma
    • 4.3.3. Obtaining buy-in from internal stakeholders
  • 4.4. Defining target deal types and terms
  • 4.5. Readiness to partner
  • 4.6. Desk research to identify the ideal partner
    • 4.6.1. Defining search criteria
    • 4.6.2. Conducting desk research
      • This brochure is published by Wildwood Ventures Ltd.
      • c 2010 CurrentPartnering, a division of Wildwood Ventures Limited.
    • 4.6.3. Sources of partners
    • 4.6.4. Using the Internet
    • 4.6.5. Using consultants
  • 4.7. Marketing partnering opportunities to generate interest
  • 4.8. Common issues in identifying partners
  • 4.9. Prioritizing target partners
    • 4.9.1. From long list to short list
    • 4.9.2. Using Excel to sort partner companies versus search criteria
    • 4.9.3. Final internal review
  • 4.10. The role of multiple parallel discussions
  • 4.11. Partners as alternative investors to VCs
• Chapter 5 - Building and maintaining a partnering network
  • 5.1. Introduction
  • 5.2. Strategy and planning
  • 5.3. Common concerns about networking and how to overcome
  • 5.4. The inverse pyramid effect
  • 5.5. Raising awareness
  • 5.6. Building a contact network
  • 5.7. Top tips for successful networking
  • 5.8. Do potential partners know how to make contact?
  • 5.9. The role of regular networking
  • 5.10. The role of partnering meetings
  • 5.11. Maintaining the network when back in the office
  • 5.12. Email newsletters
  • 5.13. Online networks
  • 5.14. Other network building techniques
• Chapter 6 Packaging your offering
  • 6.1. Introduction
  • 6.2. Packaging your company as the perfect partner
    • 6.2.1. Customized corporate presentation
    • 6.2.2. Typical contents of an in-licensing corporate presentation
  • 6.3. Packaging your partnering opportunity
    • 6.3.1. The pitch document
    • 6.3.2. Non-confidential information
    • 6.3.3. What do online submission forms suggest?
    • 6.3.4. Confidential dossier
    • 6.3.5. Presentation materials
    • 6.3.6. Supporting information
    • 6.3.7. Electronic information transfer
  • 6.4. Confidential disclosure agreements (CDA)
    • 6.4.1. From the perspective of the licensor
    • 6.4.2. From the perspective of the licensee
    • 6.4.3. What should a CDA include?
  • 6.5. Option and evaluation agreements
  • 6.6. Pitching your partnering interests at partnering meetings
    • 6.6.1. Pre-event preparation
    • 6.6.2. During the event
    • 6.6.3. Post event follow-up
  • 6.7. Meetings, meetings, meetings
  • 6.8. What other information you should have ready?
    • 6.8.1. Draft deal terms
    • 6.8.2. Data room
    • 6.8.3. Expertise available for Q&A
• Chapter 7 Making contact
  • 7.1. Introduction
  • 7.2. Overview of the contact process
  • 7.3. The importance of making a good first impression
  • 7.4. How to make contact with bigpharma
    • 7.4.1. How to make contact
    • 7.4.2. The right contact
    • 7.4.3. How a partnering opportunity is assessed
    • 7.4.4. Timings, culture and logistics
    • 7.4.5. Types of people
    • 7.4.6. Contact processes
  • 7.5. How to make contact with a smaller biopharma/technology company
    • 7.5.1. How to make contact
    • 7.5.2. The right contact
    • 7.5.3. How a partnering opportunity is assessed
    • 7.5.4. Timings, culture and logistics
    • 7.5.5. Types of people
    • 7.5.6. Contact processes
  • 7.6. Tips for successful contact
  • 7.7. Managing contacts
    • 7.7.1. The contact record
    • 7.7.2. Contact management software
    • 7.7.3. Managing interest
    • 7.7.4. Importance of recording rejections
  • 7.8. Sources of contact information
    • 7.8.1. Primary contact sources
      • Personal network
      • Company websites
      • Databases
      • Conferences
      • Industry press and media
      • Regulatory filings
      • Consultants
      • Unsolicited contact
    • 7.8.2. Online submission forms
• Chapter 8 Becoming partner of choice
  • 8.1. Introduction
  • 8.2. What is 'partner of choice'?
  • 8.3. Characteristics of partner of choice
    • 8.3.1. Internal buy-in to alliances
    • 8.3.2. Well resourced alliance team
    • 8.3.3. Ability to move fast
    • 8.3.4. Mutual respect and open communication
    • 8.3.5. Excellent track record
    • 8.3.6. Deal term flexibility
    • 8.3.7. Alliance management skills
    • 8.3.8. Value creation
    • 8.3.9. Quids
  • 8.4. Becoming partner of choice
    • 8.4.1. Marketing
    • 8.4.2. Track record
    • 8.4.3. Partner focus
    • 8.4.4. Effective, responsive and transparent
    • 8.4.5. Identify and resolve weaknesses
• Chapter 9 - Resource Center
  • 9.1. Resources
  • 9.2. Checklists
• Checklist 1: Partnering process
• Checklist 2: Finding opportunities
• Checklist 3: Finding partners
• Checklist 4: Packaging the partnering offering
• Appendices
  • Appendix 1 Glossary of terms used in this report
  • Appendix 2 Top fifty biopharma and recent deal activity
• About CurrentPartnering
• Recent titles from CurrentPartnering
• Order Form Reports
  • Table of figures
  • Figure 1: Overview of the partnering processes
  • Figure 2: Unique steps in the in-licensing process
  • Figure 3: In-licensing action plan
  • Figure 4: Unique steps in the out-licensing process
  • Figure 5: Out-licensing action plan
  • Figure 6: The 'ideal' opportunity profile
  • Figure 7: Search criteria spreadsheet
  • Figure 8: Key sources of partnering opportunities
  • Figure 9: Corporate partnering opportunity databases
  • Figure 10: Academic partnering opportunity databases
  • Figure 11: Sample qualitative scoring system for short listing opportunities
  • Figure 12: Sample Excel spreadsheet used to score long list partnering opportunities
  • Figure 13: Deal timing the relationship of deal value and risk
  • Figure 14: Optimum timing for out-licensing
  • Figure 15: Deal types for consideration by licensors
  • Figure 16: Defining deal terms
  • Figure 17: Partner search criteria spreadsheet
  • Figure 18: Key sources of partner companies
  • Figure 19: Corporate partnering databases
  • Figure 20: Sample qualitative scoring system for short listing partners
  • Figure 21: Sample Excel spreadsheet used to score long list partnering opportunities
  • Figure 22: Forms of funding from partner companies
  • Figure 23: The contact inverse pyramid
  • Figure 24: Top tips for successful networking
  • Figure 25: Major networking clubs in biopharma
  • Figure 26: Example regional networking clubs in biopharma
  • Figure 27: Example major networking events operated by network clubs
  • Figure 28: Key partnering events - International
  • Figure 29: Major biopharma conferences with networking emphasis
  • Figure 30: Amgen's Online Outreach newsletter
  • Figure 31: Raucon's The Pharma Business Developer
  • Figure 32: CurrentPartnering's Dealmakers Update
  • Figure 33: Leading online networking tools
  • Figure 34: Contents of typical corporate presentation
  • Figure 35: Online submission evaluation requirements
  • Figure 36: Submission form summary from Pfizer website
  • Figure 37: Tips on making a good first impression
  • Figure 38: Bigpharma partnering opportunity assessment process
  • Figure 39: Characteristics of partner of choice
  • Figure 40: Partnering resource finder
  • Figure 41: Bigpharma top 50 by pharma revenues and deal signed

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