We are in the midst of a biotech boom. FibroGen joined the $1 billion valuation club when it closed its IPO in mid-November. As of Thanksgiving there were 29 completed biotech IPOs with another 19 on file since June 30. All this comes on top of a sustained IPO window through 2013 and the first half of 2014, raising more than $5 billion in aggregate. Public markets have also been strong, with $15 billion in biotech follow-on equity offerings over the same period.
How have venture investors fared with the recent slate of IPOs, and what does this suggest about investments going forward? What's ahead for the new-IPOed cohort? How will they impact the established landscape of biopharma as competitors or collaborators?
Mark Edwards will speak about these trends and the state of the biotech industry--including the IPO market, its impact on venture financing, and recent trends in biopharma alliances.
Mark Edwards has more than two decades of experience in negotiating and analyzing biopharma alliances. As Founder and Managing Director of Recombinant Capital (Recap) from 1988 until its sale to Deloitte in 2008, Mr. Edwards supervised the creation and maintenance of several databases relating to the development and commercialization of pharmaceutical products. Mr. Edwards and Recap were retained by more than 50 companies to assist in the negotiation of biopharma alliances. Consulting clients included Abbott, Amgen, Bayer, Boehringer Ingelheim, Bristol-Myers Squibb, Eli Lilly, Johnson & Johnson, Millennium, Merck, Pfizer, PTC Therapeutics, Roche and Tularik.
From 2008 through 2010, he was the Managing Director of Deloitte Recap LLC, a wholly-owned subsidiary of Deloitte LLP. In this capacity, he ran Deloitte Recap and consulted on behalf of Deloitte on a variety of client engagements.
In January 2011, Mr. Edwards founded Bioscience Advisors, Inc. (Biosci), a consulting and database firm focused on biopharma alliances. Biosci has created a database, BiosciDB, that contains copies of over 12,000 license, development, co-development, joint venture, distribution, asset purchase and other arm's-length agreements that have been publicly filed with the SEC. Approximately 8,500 of these are unredacted copies, the majority obtained via Freedom of Information Act requests. Biosci also launched a public discussion forum, BiosciBD, where biopharma licensing professional and other interested parties can share and enhance best practice in negotiating, structuring and managing alliances.
Mr. Edwards is a charter Certified Licensing Professional as established by the Licensing Executive Society. He is on the Board of Directors of AcelRx and Calibr and has previously served on the boards of Allos Therapeutics, CombiMatrix and Ontogen. He holds a Bachelor of Arts degree in Political Science and Economics and an MBA, both from Stanford University. In 2008, Mr. Edwards was awarded a Lifetime Achievement Award by the American Liver Foundation for "two decades of leadership, thoughtful insights and detailed analysis of the biotechnology industry".