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8:15 a.m. – 9:30 a.m.
What’s Hot and What’s Not? The VC Perspective
Who’s getting
funded and why? What technologies and what business models are appealing to venture
investors today, and which ones are “yesterday’s news”? A panel
of experienced venture capitalists will discuss “what’s hot and what’s
not” today in venture investment in life sciences, IT/software, energy/cleantech
and nanotech companies, and where they predict investment money will be flowing
in the future into these sectors.
The panel also will discuss what lessons the
venture capital community has learned from its investments in these sectors
to date; where the public equity market, and M&A activity, both U.S. and foreign,
appear to be headed for these sectors; what typical key venture deal terms are
today for various financing rounds in the sectors; and how those terms are evolving
as these sectors mature.
Carl Amdahl, General Partner, Doll Capital Management
Alexei Andreev, Managing Director, Harris & Harris
Douglass Given, MD, PhD, MBA, Partner, Bay City Capital
Bruce W. Jenett, Shareholder, Heller
Ehrman White & McAuliffe
LLP
Erik Straser, General Partner, Mohr Davidow Ventures
9:30 a.m. – 10:30
a.m.
Health Care – Deal Valuations in 2006: Is This a
Bubble Market?
In 2006, upfront payments
for certain preclinical compounds exceeded the full commercial payout for many
clinical compounds of yesteryear. Technology platforms came back into fashion,
but with unprecedented scope and economic potential. Midstage deals were offered
via auction, and there were many takers. And companies with late stage compounds
offered only limited commercial rights, or held out completely for acquisition.
With this explosion in deal economics across all stages of development, one
might wonder if we’re now in a bubble market for biotech deal valuations. How
did this come about? What’s driving deal valuations? Most importantly,
can licensees really afford to access future products on these terms?
Mark Edwards, Managing Director, Recombinant Capital, Inc.
Mark G.
Edwards is the Managing Director of Recombinant Capital, Inc. (Recap), a consulting
firm based in Walnut Creek, California. More than 500 biotechnology, pharmaceutical
and service companies subscribe to ReCap’s databases (Recap.com, rDNA.com & RecapIP.com)
or retain Recap to advise on biotech alliances and valuations. Mr. Edwards
is on the Board of Directors of Allos Therapeutics, Inc. Prior to founding
ReCap in 1988, Mr. Edwards was Manager of Business Development at Chiron Corporation.
He received his B.A. and M.B.A. degrees from Stanford University.
10:30 a.m. – 11:00
a.m.
Networking Coffee Break
11:00 a.m. – 12:00 p.m.
U.S. Intellectual Property Laws in an Era of Legislative Deadlock and Supreme Court Activism
How are the changes underway in the U.S. Patent System affecting the environment
for innovation and competitiveness? Will the recent Supreme Court decisions
on intellectual property dampen the spirit of innovation? Is the legal system
creating an uneven playing field for the economic performance of U.S. technology
businesses?
Mr. Kappos is Vice President and Assistant General Counsel, Intellectual
Property Law, for IBM Corporation. Based in Armonk, New York, Mr. Kappos directs
IBM’s
Intellectual Property Law function, providing legal counsel over all facets of
protecting the licensing IBM’s intellectual property assets and leading
IBM’s engagement of intellectual property law policy issues. In particular,
Mr. Kappos is responsible for the management of IBM’s patent and trademark
portfolios; protecting and licensing intellectual property (patents, copyrights,
trademarks, know how and technology) worldwide; directing intellectual property
law operations relating to the research, marketing, services, consulting, systems,
storage products, semiconductor and technology development, printers and personal
systems, software and other groups, divisions, and entities within IBM. In addition,
Mr. Kappos has responsibility for IP policy and coordination with IBM’s
litigation and corporate development groups in matters relating to intellectual
property.
David Kappos, Vice President and Assistant General Counsel, Intellectual Property
Law, IBM Corporation
Mr. Kappos serves on the Board of Directors of the Intellectual Property
Owners Association and the International Intellectual Property Society. He
is a member of the IPO Executive Committee. He is also active in AIPLA, where
he previously served as Co-Chair of the IP Practice in Japan Committee, and
has held various previous leadership positions in intellectual property law
associations in Asia and the U.S. He has spoken widely around Asia and the
U.S. on intellectual property topics.
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12:00 p.m. – 1:30 p.m.
Luncheon with Keynote Speaker,
Craig Christianson
Licensing Enabling Technology - The Human Embryonic Stem Cell
Story
Craig Christianson, Director of Licensing, Wisconsin Alumni Research Foundation
(WARF)
WARF pioneered university technology transfer over 80 years ago. Instrumental
in the formation and passing of the Bayh-Dole Act in 1980, WARF in recent history
has remained a leader in invention disclosures, patents, and licensing revenue
as over 300 universities participate in patent and licensing activities.
At
the University of Wisconsin during the late 1990’s Dr. James Thomson first
successfully cultured in vitro primate and then human embryonic stem cells. WARF
was thrust in the position of facilitating the continuation and expansion of
this research in the context of a public research university, broadly and responsibly
licensing this significant platform technology discovery, and leveraging private
resources to distribute cells, provide supporting education, and help shape public
policy through lobbying and outreach efforts.
Now at the halfway point of the
patent life, we pause to reflect on the results of Wisconsin’s efforts
and look forward to what the next 10 years might bring with regard to emerging
markets and commercialization related to this remarkable technology.
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