HEALTHCARE The process of innovation

HEALTHCARE The process of innovation

IDEA

OPPORTUNITY

VALUE

DISPOSITIU EN DELTA UTD Psiqu Online Dr. Xxxxx Xxxx – Medical Dra. Xxxxx Xxxx – Unitats Sr. Xxxxx Xxxx – Eina Device cirurgia ortopèdica de tractament integral formació col·lectius dermatològic PIGPAP O+ Dr. Xxxxx Xxxx – Software MUCORTODONT Sr. Xxxxx Xxxx – gestió consultes Dra. Xxxxx Xxxx – Medial Avisador presa fàrmacs device protector de mucosa pels ortodoncistes SOFT GEST CAPS Dr. Xxxxx Xxxx Homeovision Dra. Xxxxx Xxxx GALENIA Dra. Xxxxx Xxxx – Portal informació sanitària

Odonto movil Dra. xxxxx – Modelo negocio servicio

VC

IRC Dr. Xxxxx Xxxx – Institut de Rehabilitació Cerebral

Start-up CITOGYN Dr. Xxxxx Xxxx – Medical device citologia cervix

SINCRON Dr. Xxxxx Xxxx – Errores pharma

WDMP Sra. Xxxxx Xxxx – Monitorització a distancia patologies cròniques

Stop PEE-PEE Dr. xxxxxx – Medical Device incontinencia urinaria Medical G. Xxxxx– Dispositiu Control Diabetics

NEWEYES Dr. Xxxxx Xxxx – Tractament de la presbícia amb làser

NEUROSCIENCE TECHNOLOGIES Dr. Xxxxx Xxxx – Suport a la indústria en investigació bàsica

AMB-PAT Dr. Xxxxx Xxxx TM Dr. Xxxxx Xxxx – Sistemes telemedicina DAG Dr. Xxxxx Xxxx – Clíniques Atenció Primària col·lectiu Alemania

ERA BIOTECH SEPARADOR URO Sr. Xxxxx Xxxx – Enabling Reactivos diag Dr. Xxxxx Xxxx technology biotech producció Dra. xxxxx – Medical Device proteica facilitada tubos analisis automático CANULA TUMOR microorganismos Dr. xxxxxxxxxxxx – CITOGYN Medical Device cirugía Sr. Xxxxx Xxxx NUCLEOTIDE PDU – Medical Dr. Xxxxx Xxxx – Uso Dr. Xxxxx Xxxx – IMPO DIGMO literature en nucleotidos en leches y Unitats de Dr. Xxxxx Xxxx – IT Dr. Xxxxx Xxxx – Medical castellà nutricion en general diagnòstic informació mèdica device medició estrabisme SALTBAG incontinència personal online Dr. Xxxxx Xxxx – VISUAL COR Wi-G Dispensador de sal per Dr. Xxxxx Xxxx – Software RFID Dra. Xxxxx Xxxx – TI malalts amb HTA de gestió en cardiologia VACCSAC Sr. Xxxxx MULTIFEV ESTETODONTO Dr. Xxxxx Xxxx – Dr. Xxxxx Xxxx – Xxxx – Dr. Xxxxx Xxxx – Instituto columna Geriat Eco vascular Control DIagnost neumo Estetica en Dr. Xxxxxxxxxxxxxx – Dra. Xxxxx Xxxx – Centres Geriàtrics

Modelo negocio servicios

congressos

odonto

10 things you need to know to

innovate

in the healthcare sector

#0

How much is an idea worth?

#1

Where do ideas come from?

Sector: Medical Devices The problem: % of women participating in cervix cancer screenings is low.

Auto-test screener A start-up has recently designed a “simple to use”, safe and efficient medical device allowing women to “auto-perform” a cervix cancer screening at home, without the inconveniences of the classical gynecological exploration.

Sector: Life Sciences The problem: Producing proteins is an expensive and time consuming activity.

Enabling Technology A start-up has designed “storage organelles”, a “disruptive” technology allowing to produce and purify proteins in a more efficient way. Their new technology has enabled the production of difficult-to-express proteins with (1) significant cost reductions and (2) increased efficiency, selling the technology to pharma and biotech companies.

Sector: Services The problem: “Baby boomers” have no time to go to the doctor for minor conditions.

Retail healthcare A start-up developed a new “medical clinic” concept, a small space offering medical attention for minor conditions in malls and other high traffic areas at a low cost (50$ average visit) and with no waiting time. The first clinic started 5 years ago. Today there are more than 700 clinics in the US.

Sector: IT The problem: Chronic conditions require multiple visits (most of them unnecessary) making patients lives very uncomfortable.

Wireless disease management Several initiatives are offering a very convenient medical control of chronic diseases such as diabetes, hypertension, asthma, etc., allowing patients to reduce significantly the number of visits to their GPs. Control is provided through bluetooth devices that monitor different conditions and transmit medical data through regular mobile phones.

#2 It is important to know the healthcare sector • Healthcare value chain is the instrument to know all stakeholders •It is essential as well to know the 4 areas of healthcare innovation, they usually interact.

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Consumer, prescriber and payer Three different stakeholders, each one of them worried by different issues Consumer

Prescriber

Payer

The healthcare sector: opportunities Healthcare idea value chain evolving

A heavily regulated marketplace In the last years, healthcare has witnessed the emergence of an increasing regulatory environment throughout the world. This environment has an impact on how products and services are tested on patients, and how they get approved.

Healthcare Sector

Active, more mobile than previous generations

Qualitative technological breakthroughs More efficient channels

Big compaies want to buy innovation, R+D is becoming R+A

Consolidation as something good for start-ups

Trends Elderly people on the rise

Large amount of clinical needs underserved Opportunities in all 4 sectors

Supply and demand •If a product is more expensive, its demand falls (?) •Weird effect on healthcare

TARGET

•Medical Devices •Life Sciences

•IT •Services

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#3 Imagine the story of a healthcare idea What? How? Who?

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#4 Is it an opportunity? Good idea = Opportunity We need to learn to recognise an opportunity from a good idea.

The perfect initiative

Strong IP / BE Sustainable business model

Large market

Perfect

Great product

Qualified team

Smooth path to market

#5

Intelectual Protection

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#6

Choosing a future

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#7

Team

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#8

Raising capital

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#9

Valuation

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#10

Deal structure

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DEAL STRUCTURE

PROTECTION AGREEMENTS

CONVERSIONS

ANALYSIS

•Non-disclosure

•Price conversion

•Exit impact

•Non-compete

•Future price conversion

•Relationship impact

•Interest payments

•Downside protection

COMMON SHARES

•Upside protection

•Tag-along right

WARRANTIES

•Entrepreneur protection

•Pre-emptive right

•Warranties and representations

•Worst case scenarios

•Registration rights PREFERRED SHARES •Royalty rights

•Anti-dilution •Entrepreneur compensation limits

•Dividend rights

•Special voting or consent rights

•Registration rights

•Warrants

•Board rights

•Follow-on financings

•Information rights

•Right of first refusal

•Liquidation rights •Conversion rights •Redemption rights

•Notes and suggestions

Encourage entrepreneurial culture

All levels, MDs, healthcare professionals

Identify opportunities

Incentivate dialog and risks

All sectors, life sciences, medical devices, services

Technology transfer

CULTURE

Training

Calculate operative impact and €

DETECTION Generate “rules of the game”

Define process

INTRAPRE NEURSHIP

Generate spin-offs

Implementation and follow-up

INNOVATION

Benchmark innovative practices outside Adapt external ideas

EXECUTION BENCH MARKING

Generate portfolio projects

ECOSISTEM Use same criteria as venture capital to follow execution

Best practices Promote generated innovation

Clinician buy-in

VC, technology transfer, government, hospitals, universities, research institutes…

Attract new value generators

LIFE SCIENCES INNOVATION ECOSYSTEM IESE, ESADE, UPC UAB, UB, UG, Salle

EADA IESE

XPCAT

Business schools

Sup por t

Co

Innova 31

rs ve -in

Sofinnova Riva y Highgrowth Garcia Corsabe

•IMIM / H.del Mar

•Parc recerca biomed

ió

low alf e D

Business angels

•H Badalona

•etc…

Incubation start-ups

lti

Venture capital

La Caixa CR

•H. Vall d´Hebron

BMA

lflow

Mu

Gilde

Dea

•H Sant Pau

Research Institutes

•IDIBELL/ H Bellvitge

Multi

Biofocus

HSJD

•IDIBAPS / H. Clínic

ESADE AltaPartners

Hospitals

M.D.s

Pa fin rtner an cer

Gov

BANCAT

Bioregion

Keiretsu Forum

CIDEM

Fund managers GFCRs

Thank you www.healthonomics.org Luis Pareras, M.D. [email protected]