Sarsia Seed I / II. Sarsia Seed Management Erlend Skagseth / Sveinung Hole. LMI November 2015

Transkript

1 Sarsia Seed I / II Sarsia Seed Management Erlend Skagseth / Sveinung Hole LMI November 2015

2 Endelig

3 Litt om. 1. Sarsia Seed I 2. Sarsia Seed II 3. Litt om endringer i oppsett Vi unngår det åpenbare så langt vi kan spør heller! 3

4 Litt om. 1. Sarsia Seed I 2. Sarsia Seed II 3. Litt om endringer i oppsett 4

5 Sarsia Seed Early stage Fund investing in Norwegian Life Science Established in 2006 with horizon until 2018 (2021) Invested 222 mnok not much left Procured 1,215 mrdnok Potential proceeds of 1,686 mrdnok 867 mnok procured 13 Life Science companies (bio/farma/ medtech/dx) 5

6 Kapitalflyt for Sarsia Seed (alle tall i hele millioner kroner) Staten: Innovasjon Norge Private investorer: Statoil, BKK, Spare-banken Vest, andre ,5m Kommittert ved oppstart i 2006 Påfyll fra private i 2015 Såkornfondet: Sarsia Seed FoU-tilskudd: EU, Innovasjon Norge, Norges Forskningsråd, Statoil, Miljøteknologiordningen, Industri, andre Ko-investorer: Trond Mohn, Sparebanken Vest og 261 andre investorer fra syv land (71%) 352 (29%) 13 Helseselskaper (bio/farma/medtech/diagnose) 9 Energi/marinselskaper Sarsia Seed Management

7 Flow of close to 10 LS cases/quarter during period of current SSF-I 7

8 Sarsia Seed Fund I - Portfolio status Five companies in - or in final preparations for clinical trials- partnering and financing. BERGEN BIO AVEXXIN VACCIBODY APIM THERAPEUTICS PROPHYLIX PHARMA Discovery Platform/Cancer Resistance Therapy PIb AML and NSCL Anti-Inflammatory Therapy- POC in Pase I/IIa in Psoriasis Platform Therapeutic Vaccine Therapy-Phase I Cervical Cancer Peptide Cancer Combo Therapy IMPD ready Orphan - Immunotherapy against Thrombocytopenia in newborn 8

9 Sarsia Seed Portfolio Bio/pharma (capex: 80 m$) Company Preclinical Discovery Preclinical Development Clinical Development FDA Appr oval Inflammation In phase II Conc. Dvlpm nt Lead/ Target ident. Drug Screeni ng Pre-clinical Testing Capex total: 12 m$ IND Filing Pre-IND P-I P-II P-III EXIT PIIa NDA Filing ONC/EMT/resistance In phase I-b Capex total: 40 m$ EXIT PIb-IIa DNA-vaccines In phase I Capex total: 9 m$ EXIT PI-IIa Market Orphan against NAIT IND ready Capex total: 8 m$ EXIT PIII Re-sensitivization IND ready Capex total: 6 m$ EXIT PI-IIa Anti-biotics MRSA Capex total: 4 m$ EXIT Heparin from fish-waste Capex total:: 1 m$ EXIT 9

10 Status 2012 Low Financial gain at Successful exit High High Risk Low

11 Utvikling (direkte fra porteføljerangering) High *APIM Vaccibody Av exxin * Ber gen Bi o Pr ophy l ix Sor bwat er Financial gain at Successful exit Aquil oz SeaFar m *Vol usense WindSim Low isentio Genes eque * EnSo *H epma r i n MedSt or m Wey l a nd C10 * Bl ue Limit Del a nt e Sea - Hawk *Nov el Diagnostics High Risk Low

12 Litt om. 1. Sarsia Seed I 2. Sarsia Seed II 3. Litt om endringer i oppsett 1 2

13 Drivere for nytt fond High quality DealFlow supported by strong macro trends Unique position in underserved market Track Record and Benchmarks better than industry average Proven team, network and operational model Sarsia Seed Fund II - på 300 til 500 mnok Permanent Investment Consortium Radiumhospitalets Forskningsstiftelse Birk Venture (Meteva, Kreftforeningen) Co-Investors >200 investors from 4-5 countries Investinor 13

14 Historic cuts to Discovery resulted in shrunken early-stage pipeline that need to be filled Sarsia Seed Management AS 14

15 Attractive development in early value inflection Year 2000 Year

16 There is more on it s way heading for the revised up-front reward 16

17 Sarsia Seed II 1. Fondet kan reises med min 300 mnok 2. 80% av kapitalen på plass 3. Jobber for første closing i Q116 med 300 mnok 4. Jobber for andre closing ila Q4 med ytterligere 200 mnok i privat kapital 5. En eller flere industrielle cornerstone investorer i andre closing 6. Første investering (om planen holder) omkring sommeren

18 Relevant Deal Flow for potensielle industrielle cornerstone investorer * Since last new investment (2011) from current fund Includes immuno-oncology 18

19 Sarsia Seed Fund II- LS Prospect Hallmarks Therapeutics Therapeutics Segment Indication BIOPHARMA BIOPHARMA Mechanism Technologies 77. MEDTECH MEDTECH Segments

20 Litt om. 1. Sarsia Seed I 2. Sarsia Seed II 3. Litt om endringer i oppsett 2 0

21 Noen omrokkeringer 1. Sarsia Seed Management 2. Bergens Forskningsstiftelse 3. Sarsia Seed I 4. Sarsia Seed II 21