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Upcoming Events at the San Diego Chapter
Chapter Homepage
TUESDAY, MARCH 14, 2006
The San Diego Chapter of the Licensing Executives Society
Panel Discussion Featuring:
"Specialty Pharmaceuticals -- Licensing & IP
Strategies for Faster Value Creation"
Sponsored by:
Knobbe Martens Olson & Bear LLP
SPEAKERS:
Laurent Fischer, President & CEO of
Ocera Therapeutics
Bob More, Partner Domain
Associates
Karen Dow, Partner Townsend
and Townsend and Crew LLP
Richard K. Masterson, Jr. VP, Global Commercial Development
Valeant Pharmaceuticals International
Moderator:
David Palella, President,
BioScience Ventures, Inc.
PROGRAM DESCRIPTION:
Specialty Pharma companies rescued the San Diego life science VC community
from the post-NASDAQ bubble's "Slough of Despond". Funds' entire
IRR (internal rate of return) often resulted from successful exits (usually
via M & A) from only 1 or 2 specialty pharma companies in a portfolio.
Specialty Pharma was the business model du jour, a seemingly inexhaustible
venture investor's ATM. Local specialty pharma M & A exits of note
include Elan's acquisition of Dura; Valeant's of Xcel Pharmaceuticals; and Cephalon's
of Salmedix.
But the Specialty Pharma business model is entering middle age -- graying at
the edges, becoming myopic and pining for trophy products! Initially based
on product arbitrage, rapid clinical development and a refined sales/marketing
focus, "success" now requires private equity investors with tons of
cash and extreme product make-overs yielding often cosmetic differential advantages
in the marketplace.
So what's the next step for the model? Backward integration towards R&D?
Lateral expansion into two or more therapeutic areas? More drug delivery
system (DDS) platform companies morphing into Specialty Pharma companies? Building
a bigger financial sledgehammer a la Jazz Pharmaceuticals? Tune in to this
panel for the next episode of "As the Specialty Pharma World Turns"!
PANELISTS BIOGRAPHYS:
Laurent Fischer, M.D., President and CEO
Dr. Fischer is the
co-founder of Ocera, he has more than 15 years of
drug development and commercial experience in the biopharmaceutical industry
and has raised over $25M in venture financing. He was involved in the
start-up of four healthcare ventures, and has an extensive background
in drug development, medical affairs, sales and marketing.
Previously, Dr. Fischer was president and CEO of Auxeris Therapeutics,
a biotechnology company developing RANKL inhibitors. Dr. Fischer was senior
vice president of the global virology business at DuPont-Merck and DuPont Pharmaceuticals
and launched Sustiva™ worldwide ($750M in annual sales). DuPont
Pharmaceuticals was sold to Bristol Myers Squibb for $7.6 billion in 2001. He
also worked on the development of several drugs and new indications at Hoffmann-La
Roche in the area of cancer and infectious disease and was medical director
for Roche in the U.S. where he launched the first protease inhibitor,
Invirase™, and developed the second-generation, Fortovase™ for
the treatment of HIV.
Dr. Fischer received his undergraduate degree from the University of Geneva
and his medical degree from the Geneva Medical School, Switzerland. He
serves on the board of directors of the AIDS Healthcare Foundation, the world’s
largest specialized provider of AIDS care.
Robert J. More, Partner
Mr. More joined Domain Associates
as a Kauffman Fellow in 1996, and he became a General Partner in 2000. Since
joining Domain, Bob has served on the Board of Directors of ESP Pharma, Proxima
Therapeutics, Onux Medical, and was responsible for Domain’s investment
in IntraLase. Currently, he serves on the Boards of Glaukos, OmniSonics Medical
Technologies, Novalar Pharmaceuticals, NovaCardia, TargetRx, Receptor Biologix,
and Esprit Pharma.
From 1997-1998, he served as the Chief Operating Officer of Small Molecule
Therapeutics, a Domain portfolio company subsequently purchased by Morphochem
AG. From 1992 to 1995, Bob was in sales with Pharmacia.
Prior to joining Pharmacia, he held a research position at Somatogen, a start-up
company developing a recombinant blood substitute that was subsequently purchased
by Baxter.
Education:
- B.A. - Middlebury College, 1989
- M.B.A. - Darden School of Business Administration, University of Virginia,
1996
Karen B. Dow
Karen B. Dow, Partner-in-Charge of Townsend
and Townsend and Crew’s
San Diego office, is one of the pioneers in biotechnology patent law. She has
more than 20 years of patent experience in life science corporations and law
firms and has served as principal outside patent counsel to numerous biotechnology
and pharmaceutical companies.
Ms. Dow specializes in providing counsel and advice to clients to obtain,
protect and enforce their intellectual property rights, particularly in the
areas of immunology, molecular biology, bioinformatics, bioarray technology,
microbiology, pharmaceuticals, vaccines, diagnostics, organic chemistry, and
the emerging field of stem cell research. She has extensive experience in intellectual
property transactions, patent interferences, due diligence investigations,
public offerings, oppositions, and regularly obtains patents for clients in
the United States and abroad.
Ms. Dow brings unique perspective to complex intellectual property issues,
combining her experience as an attorney with major pharmaceutical and biotechnology
companies with her knowledge as a prominent figure at law firms. She began
her career as a patent attorney at Eli Lilly and then joined Triton Biosciences
as a senior patent and licensing attorney. Subsequently, she was a partner
in Townsend's Palo Alto office, and a partner at a law firm in San Diego, where
she was co-chair of the firm-wide Life Sciences Group.
Ms. Dow has lectured extensively in the areas of patent law and intellectual
property transaction law, and has been a guest lecturer for the University
of California intellectual property extension classes. She has been a guest
speaker for an array of organizations, ranging from American Women in Science
to the California Bar Association.
In 2005, Ms. Dow was named by the San Diego Daily Transcript as one of the
Top 10 intellectual property attorneys in San Diego. In 2004, she was nominated
for the Athena Pinnacle Award, Individual in Technology, and was featured on
Forbes SkyRadio for American Airlines, addressing patent issues in biotechnology.
In 2002, she was profiled in, and appeared on the cover of, San Diego Lawyer
Magazine.
She received her bachelor’s degree from Bowling Green State University
and her J.D. from Indiana University.
Richard K. Masterson
Richard K. Masterson, joined Valeant in 2004 as Vice President, Global Commercial
Development, responsible for worldwide marketing and business development at
this $800M specialty pharmaceutical company.
Prior to joining Valeant Rich spent fifteen years at TAP Pharmaceutical Products
in Chicago. His last assignment at TAP was as Vice President and General
Manager, Lupron, where he was responsible for a $900m specialty business in
gynecology and urology. Prior to managing the Lupron business, Rich was TAP’s
Vice President of Licensing, where he completed a wide range of licensing and
co-promotion deals in a variety of therapeutic areas. Rich joined TAP
in 1989 and held a number of positions in sales, and marketing before joining
the licensing department.
Before TAP, Rich was a Lieutenant in Special Operations in the U.S. Navy. He
holds a BA in Economics from the University of Virginia and a Masters of Business
Administration from the J.L. Kellogg Graduate School of Management at Northwestern
University. He is married with two children and resides in Irvine, CA.
For additional information, please contact:
Ross A. Epstein, Chair
Tel. (858) 792-8211
Fax (858) 792-8946
e-mail: repstein@nathlaw.com
or
Kasia A. Epstein, Event Coordinator
Tel. (619) 944-1628
e-mail: Kasia-Epstein@sbcglobal.net
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