Practical Guide to Finding Partners

  • September 2013
  • -
  • Currentpartnering
  • -
  • 181 pages

Current Partnering’s Practical Guide to Finding Partners provides a comprehensive overview of all the steps required to identify and secure potential partnering opportunities 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 in-licensing 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.



Report scope



Practical Guide to Finding Partners 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 includes:


•Overview of the partnering process and highlights the differences between an in-licensing and out-licensing 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


Practical Guide to Finding Partners provides the reader with 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
•Identify and contact the right person in the partner company



The report provides a 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

Table Of 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 new media for online networking
3.3.7. 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
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 QandA

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 Wildwood Ventures
Current Partnering
Current Agreements
Current Reports
Recent titles from CurrentPartnering
Order Form - Reports
Order Form - Therapy Reports



Table of figures


Figure 1: Overview of the partnering process
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: Key online partnering networks
Figure 12: Sample qualitative scoring system for short listing opportunities
Figure 13: Sample Excel spreadsheet used to score long list partnering opportunities
Figure 14: Deal timing - the relationship of deal value and risk
Figure 15: Optimum timing for out-licensing
Figure 16: Deal types for consideration by licensors
Figure 17: Defining deal terms
Figure 18: Partner search criteria spreadsheet
Figure 19: Key sources of partner companies
Figure 20: Corporate partnering databases
Figure 21: Sample qualitative scoring system for short listing partners
Figure 22: Sample Excel spreadsheet used to score long list partnering opportunities
Figure 23: Forms of funding from partner companies
Figure 24: The contact inverse pyramid
Figure 25: Top tips for successful networking
Figure 26: Major networking clubs in biopharma
Figure 27: Example regional networking clubs in biopharma
Figure 28: Example major networking events operated by network clubs
Figure 29: Key partnering events - International
Figure 30: Major biopharma conferences with networking emphasis
Figure 31: Amgen’s Online Outreach newsletter
Figure 32: Raucon’s The Pharma Business Developer
Figure 33: CurrentPartnering’s Dealmakers Update
Figure 34: Leading online networking tools
Figure 35: Key online partnering networks for life sciences
Figure 36: Contents of typical corporate presentation
Figure 37: Online submission evaluation requirements
Figure 38: Submission form summary from Pfizer website
Figure 39: Tips on making a good first impression
Figure 40: Bigpharma partnering opportunity assessment process
Figure 41: Characteristics of partner of choice
Figure 42: Partnering resource finder
Figure 43: Bigpharma - top 50 by pharma revenues and deal signed




Companies mentioned

Abbott Japan

Abbott Laboratories

Abraxis BioScience

ACADIA Pharmaceuticals

Acceleron Pharma

Achillion Pharmaceuticals

Adnexus Therapeutics

Adolor

AEterna Zentaris

Affymax

Agensys

Alfacell

Allergan

Ambit Biosciences

Amgen

Amylin Pharmaceuticals

Anacor Pharmaceuticals

Anesiva

Archemix

Ariad Pharmaceuticals

ArQule

Array Biopharma

ARYx Therapeutics

Astellas Pharma

AstraZeneca

Athersys

Atley Pharmaceuticals

Auriga Laboratories

Aventis

AVEO Pharmaceuticals

Barrier Therapeutics

Bayer

Biogen Idec

BioMarin Pharmaceuticals

BioMerieux

Biovail

Boehringer Ingelheim

Bristol-Myers Squibb

Cardiome Pharma

Celgene

Cell Genesys

Cepheid

ChemoCentryx

Cornerstone Biopharma

Cortex Pharmaceuticals

Critical Therapeutics

Cubist Pharmaceuticals

CV Therapeutics

Cypress Bioscience

Cytokinetics

Daiichi Sankyo

DepoMed

Dey Pharma

DoctorDirectory

DOR BioPharma

Dyax

Dynavax Technologies

Eisai

Eli Lilly

Enanta Pharmaceuticals

Endo Pharmaceuticals

Exelixis

Facet Biotechnology

Forest Laboratories

Forest Pharmaceuticals

Galderma

Genentech

Genzyme

Gilead Sciences

GlaxoSmithKline

GTx

Hyperion Therapeutics

ImmunoGen

Immunomedics

Impax Laboratories

Incyte

Inspire Pharmaceuticals

InterMune

InVentiv Health

Ipsen

Ironwood Pharmaceuticals

Janssen Research and Development

KaloBios Pharmaceuticals

La Jolla Pharmaceutical

Macrogenics

MAP Pharmaceuticals

Maxygen

Medivation

Menarini

Merck and Co

Merck KGaA

Merck Sharpe and Dohme

Merrimack Pharmaceuticals

Metabasis Therapeutics

Micromet

MiddleBrook Pharmaceutical

Millennium

Mylan Laboratories

Nektar Therapeutics

Novartis

Novartis Consumer Health

Novo Nordisk

Nycomed

OncoGenex Pharmaceuticals

Optimer Pharmaceuticals

Orexigen Therapeutics

Ortho Biotech

Par Pharmaceutical

PDL BioPharma

Pfizer

PhotoMedex

Procter and Gamble

Procter and Gamble Pharmaceuticals

Purdue Pharma

Regeneron Pharmaceuticals

Rib-X Pharmaceuticals

Roche

Sagent Pharmaceuticals

Salix Pharmaceuticals

Sanofi-Aventis

Sanofi-Pasteur

Sanofi

Santarus

Schering-Plough

Seattle Genetics

Serono

Sigma-Tau

Solvay

Somaxon Pharmaceuticals

Spectrum Pharmaceuticals

Strativa Pharmaceuticals

Sucampo Pharmaceuticals

Synta Pharmaceuticals

Takeda Pharmaceutical

TAP Pharmaceutical

Targacept

Tercica

Teva Pharmaceuticals

Tibotec

Transcept Pharmaceuticals

Ucyclyd Pharma

Valeant Pharmaceuticals

Veracyte

Vernalis

Vical

Victory Pharma

Warner Chilcott

Watson Pharmaceuticals

Wyeth

Xenoport

Zogenix

ZymoGenetics

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