BioE2E: Biotech Entrepreneur to Entrepreneur: Non-VC Funding of Biotech Startups: Individual Investors, Private Funds, and Investing Groups ("Angels")

Non-VC Funding of Biotech Startups:
Individual Investors, Private Funds, and Investing Groups ("Angels")

Date: April 5, 2006 at 7:00pm
Cost: $20 PRE-Registered, $35 at the door.
Location: (NEW)
Cooley Godward
3175 Hanover Street
Palo Alto, CA 94304-1130
Phone: 650-843-5000
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WE HAVE MOVED THE LOCATION THIS MONTH

Much like the VC industry, the private investment sector has also changed and matured. Private investors, whether investing alone or in groups (often called "angels"), are savvy investors and most have significant executive-level operational experience in the industry. These investors are excited about startups and are willing to share their financial and operational successes with entrepreneurs and their young companies: they can bring value much beyond funding. However, the investment needs to make sense - it's not philanthropy, it's business.

Panel speakers, representing experienced individual investors and leading Bay Area angel groups will discuss their experience with investing in life-science companies: their investment philosophy; the value they provide beyond funding - advice, guidance, management, network, future funding; what is expected from companies when they approach these investors; what is required in order to be considered for an investment; their evaluation and due diligence process; their typical investments; how they interact (and sometimes co-invest) with VCs; what are their typical/common structures of investments and key terms; their involvement in bridge and advanced financings; and the most common mistakes companies make when approaching these investors.

Networking and light dinner from 6:30pm, plus networking session will follow.

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Moderator:

Rivka Sherman-Gold, Ph.D., MBA, Yodan Ventures

Dr. Rivka Sherman-Gold is an investor-entrepreneur in the early-stage life-science companies. Rivka's over 20 years of experience in the biotech/life-science industry include R&D, business strategy and business development, financing strategy, raising capital, executive-level management, and serving on board of directors and advisory boards. Her industry-segment experience includes therapeutics, diagnostics, instrumentations, and medical devices. Rivka was a member of The Angels Forum and is currently a member of the Life Science Angels (where she is a member of the investment committee) and the Band of Angels (where she is a member of the life-science screening committee). Rivka's industry positions include being Chief Business Officer of Diatos SA, a Paris-based biotechnology company, President & CEO of Alydar Pharmaceuticals, Director of Business Development at Abgenix, and Associate Director of Business Development at Athena Neurosciences (now Elan). Dr. Sherman-Gold holds a B.Sc. (with distinction) in chemistry and M.Sc. in biophysics and physiology, both from the Technion - Israel Institute of Technology, Ph.D. in life-science from The Weizmann Institute of Science, and M.B.A. from California State University, San Jose (SJSU). She was a post-doctoral fellow at Stanford University School of Medicine.

Panelists:

Wally S. Buch, M.D., Band of Angels

Dr. Wally S. Buch is a venture capital consultant, an angel investor, a member of the Band of Angels, and a Venture Partner at Medventures. His major focus is on life-science investing, but he also invests in software solutions. Wally has invested in a number of successful ventures, including Neoforma, Fox Hollow Technologies, Lumend, Claria, Novus Packaging, Perclose, Ventritex, Seadragon and Securant. He has also invested in several unsuccessful ventures, including Avocet Medical, Protein Pathways, and Resolution Medical. He serves on the Board of Directors of Solus Biosystems, PAVAD Medical, Nellix and Dermacare. Dr. Buch received a B.A. from Cornell University in 1962 and received his M.D. from Hahnemann Medical College of Philadelphia in 1967. He interned in surgery at Stanford University Hospital, finished his post-graduate training in General, Thoracic and Cardiovascular Surgery at Stanford in 1973 and practiced adult cardiac surgery with Thomas Fogarty, M.D. After a 25-year career in medicine, he retired from active practice in 1997 to become an investor.

Andrew Farquharson, The Angels' Forum / Halo Funds

Andrew Farquharson is an early-stage investor in life sciences with 15 years of experience as a researcher, executive and founder in the field. He is currently a member of The Angels' Forum and a partner in the Halo Funds, where he focuses on medical device investments and research tools. Mr. Farquharson's most recent investments lie in neurology, cosmetic medicine and orthopedic ventures. In his earlier career, he served as Senior Vice President of sales and marketing at Operon, where he tripled revenues of synthetic DNA products in two years and played a key role in negotiating a sale of the business to QIAGEN. Mr. Farquharson has also served as VP Commercial Operations for Innovadyne, founded two companies, and held several leadership roles in research operations at Genentech, Inc. Mr. Farquharson received a BA with High Honors from the University of California at Berkeley, and his MBA from the Harvard University Graduate School of Business.

Lowell E. Sears, Sears Capital Management

Lowell E. Sears is Chairman, Chief Executive Officer and Chief Investment Officer of Sears Capital Management, Inc., which he founded in 1994. Mr. Sears has been a venture investor and portfolio manager in the life science industry. He has invested in 32 life science companies over the last twelve years, primarily as the founding investor, and has served on 20 boards as an active investor. From 1986 until 1994 Mr. Sears held executive positions at Amgen, serving as Amgen's Chief Financial Officer, Senior Vice President responsible for the Asia Pacific Region, and previously as Treasurer and Director of Planning for Amgen. From 1976 until 1986 Mr. Sears held senior planning and financial positions with Atlantic Richfield Company (ARCO), serving as Chief Financial Officer for its Ventures Division. Mr. Sears has been an active participant in the biotechnology and pharmaceutical industries since 1979. Mr. Sears holds a BA in Economics from Claremont McKenna College and an MBA from the Stanford University Graduate School of Business.

Rivka Sherman-Gold, Ph.D., Life Science Angels, Band of Angels

Dr. Rivka Sherman-Gold is an investor-entrepreneur in the early-stage life-science companies. Rivka's over 20 years of experience in the biotech/life-science industry include R&D, business strategy and business development, financing strategy, raising capital, executive-level management, and serving on board of directors and advisory boards. Her industry-segment experience includes therapeutics, diagnostics, instrumentations, and medical devices. Rivka was a member of The Angels Forum and is currently a member of the Life Science Angels (where she is a member of the investment committee) and the Band of Angels (where she is a member of the life-science screening committee). Rivka's industry positions include being Chief Business Officer of Diatos SA, a Paris-based biotechnology company, President & CEO of Alydar Pharmaceuticals, Director of Business Development at Abgenix, and Associate Director of Business Development at Athena Neurosciences (now Elan). Dr. Sherman-Gold holds a B.Sc. (with distinction) in chemistry and M.Sc. in biophysics and physiology, both from the Technion - Israel Institute of Technology, Ph.D. in life-science from The Weizmann Institute of Science, and M.B.A. from California State University, San Jose (SJSU). She was a post-doctoral fellow at Stanford University School of Medicine.

BioE2E.org

Lowell E. Sears, Sears Capital Management
Lowell E. Sears is Chairman, Chief Executive Officer and Chief Investment Officer of Sears Capital Management, Inc., which he founded in 1994. Mr. Sears has been a venture investor and portfolio manager in the life science industry. He has invested in 32 life science companies over the last twelve years, primarily as the founding investor, and has served on 20 boards as an active investor. From 1986 until 1994 Mr. Sears held executive positions at Amgen, serving as Amgen's Chief Financial Officer, Senior Vice President responsible for the Asia Pacific Region, and previously as Treasurer and Director of Planning for Amgen. From 1976 until 1986 Mr. Sears held senior planning and financial positions with Atlantic Richfield Company (ARCO), serving as Chief Financial Officer for its Ventures Division. Mr. Sears has been an active participant in the biotechnology and pharmaceutical industries since 1979. Mr. Sears holds a BA in Economics from Claremont McKenna College and an MBA from the Stanford University Graduate School of Business.
Rivka Sherman-Gold, Ph.D., Life Science Angels, Band of Angels
Dr. Rivka Sherman-Gold is an investor-entrepreneur in the early-stage life-science companies. Rivka's over 20 years of experience in the biotech/life-science industry include R&D, business strategy and business development, financing strategy, raising capital, executive-level management, and serving on board of directors and advisory boards. Her industry-segment experience includes therapeutics, diagnostics, instrumentations, and medical devices. Rivka was a member of The Angels Forum and is currently a member of the Life Science Angels (where she is a member of the investment committee) and the Band of Angels (where she is a member of the life-science screening committee). Rivka's industry positions include being Chief Business Officer of Diatos SA, a Paris-based biotechnology company, President & CEO of Alydar Pharmaceuticals, Director of Business Development at Abgenix, and Associate Director of Business Development at Athena Neurosciences (now Elan). Dr. Sherman-Gold holds a B.Sc. (with distinction) in chemistry and M.Sc. in biophysics and physiology, both from the Technion - Israel Institute of Technology, Ph.D. in life-science from The Weizmann Institute of Science, and M.B.A. from California State University, San Jose (SJSU). She was a post-doctoral fellow at Stanford University School of Medicine.