ShareVault Attends the 18th Annual BIO CEO & Investor Conference

Posted by Steve Joseph on Feb 1, 2016 9:12:44 AM

bio_ceo_logo.jpgFebruary 8-9, 2016

The Waldorf Astoria New York

We're excited to be attending this year's BIO CEO & Investor Conference in New York City where we'll be showcasing the many ways that ShareVault can facilitate biotech partnering, licensing and fundraising. We hope you'll be there too and that we'll have the opportunity to meet. If you haven't yet registered you can get signed up here.

Each year the BIO CEO & Investor Conference provides a neutral forum where institutional investors, industry analysts, and senior biotechnology executives have the opportunity to shape the future investment landscape of the biotechnology industry.

The BIO CEO & Investor Conference is one of the largest investor conferences of the year and features issue-oriented plenary sessions, educational sessions focused on hot therapeutic areas and key business issues, company presentations, one-on-one meetings, and networking opportunities.

Visit their website to register, download the conference brochure or demographics, or register for their February 3rd webinar, "What Biotech Investors are Looking for in the Current Economic Climate."

You can also better prepare for the conference by downloading our free white paper, "Building a Better Partnering Presentation."

Get the White Paper

Topics: Events

M&A Negotiations: You might not be as good as you think

Posted by John Badger on Jan 27, 2016 12:28:28 PM

Negotiations_montage.jpgNegotiate. We all do it. Its certainly necessary in the context of a merger or acquisition, but it’s also a common part of everyday life. We negotiate with our kids (who tend to be wonderful negotiators), with our spouses, with our neighbors, and with our colleagues, bosses and employees. Every day we employ negotiating skills in some way. And most of us believe that we’re pretty good negotiators. But are we? Are we as good as we could be?

Many people believe good negotiating skills are innate—something you’re born with. And although there is an element of truth to that, it’s also true that good negotiating skills can be learned and improved upon. Negotiating skills can be honed through experience, which can be very expensive in an M&A context, or by studying the academic research on negotiation techniques and learning best practices from negotiation experts.

Consider the following scenario: a potential buyer contacts the CEO of a startup. Negotiations are about to begin, and the CEO poses the question, “How much do I prepare?”

In a recent poll of 63 corporate executives we posed that question and got the following results:

  1. I like to wing it—0%
  2. I’ll research their business on the web and through some contacts—20%
  3. I’ll do the above plus I’ll question my counterpart—5%
  4. I’ll do all of the above plus I’ll evaluate my issues and preferences—24%
  5. I’ll do all of the above plus I’ll discuss with my colleagues who know the counterpart well—51%

Option E was the clear winner, implying that most people believe that more information is always better. However, going the extra length of asking people in your company about the counterpart could very well jeopardize the confidentiality of the potential transaction, which can be detrimental to your company’s health. If a broad band of employees know that you’re in negotiations, it can damage morale and affect job performance, as well as have a destabilizing effect on the early parts of a negotiation.

From a research perspective, the correct answer is D: fully prepare for negotiations, but not at the expense of compromising deal confidentiality. How do you do that? It’s not enough to assume that the buyer will simply take your product, fit it into their channel and recognize revenue synergies; that’s not sufficient detail. The questions you need to answer include:

  • Why are you valuable to the buyer?
  • What’s attractive about you?
  • What do they plan to do with you?
  • What’s their high-level integration plan?
  • How are they going to integrate your people into their organization?
  • What will your role be?

By knowing as much as you can about their plans and intentions you’ll be better able to anticipate their motives and discern what’s important to them, thus enabling you to more optimally position yourself for negotiations.

Of course, the primary focus of negotiations will be on valuation. Before negotiations begin, put focused thought into how valuable your company is to a potential buyer. Determine your aspiration pricethe best price that is within reason. Then ask yourself, what the minimum price is that you would be willing to take before seeking another alternative (raising a venture round, waiting a year or two and growing the business, etc.). What is your BATNA (Best Alternative to a Negotiated Agreement)? What are your “Must haves” and what issues can you bend on?

Now, do the same estimation for the buyer. How will they perceive valuation? What have they done in the past? In this scenario, what is their BATNA? Once you understand the buyer’s motives and aspirations, look for an overlap with yours. That’s the zone of potential agreement, and that’s where a deal can be struck.

Rigorously looking at both what you want and what the other side wants is critical preparation for negotiations. In general, if the negotiation will last an hour, you should spend eight to ten hours preparing for it.

To learn more about becoming a better negotiator, download our free white paper, "M&A Negotiations: Are You as Good as You Could Be?" by Brian Moriarty:

Download Now

 

Topics: M&A

NIH Small Business Programs: What Biomedical Entrepreneurs Should Know [webinar]

Posted by Steve Joseph on Jan 12, 2016 11:12:07 AM

SBIR-Webinar-2.pngTuesday, January 26, 2016
2-3pm EST / 11am-12pm PST

On January 26th, ShareVault, in partnership with Women in BIO (WIB), will present a free webinar detailing two important programs that the National Institutes of Health offers to biomedical entrepeneurs.

The SBIR Program

The Small Business Innovation Research (SBIR) program is a highly competitive program that encourages domestic small businesses to engage in Federal Research/Research and Development (R/R&D) that has the potential for commercialization. Through a competitive awards-based program, SBIR enables small businesses to explore their technological potential and provides the incentive to profit from its commercialization. By including qualified small businesses in the nation's R&D arena, high-tech innovation is stimulated and the United States gains entrepreneurial spirit as it meets its specific research and development needs.

The STTR Program

The Small Business Technology Transfer (STTR) program is another program that expands funding opportunities in the federal innovation research and development (R&D) arena. Central to the program is expansion of the public/private sector partnership to include the joint venture opportunities for small businesses and nonprofit research institutions. The unique feature of the STTR program is the requirement for the small business to formally collaborate with a research institution in Phase I and Phase II. STTR's most important role is to bridge the gap between performance of basic science and commercialization of resulting innovations.

During the webinar, Stephanie Fertig and Kory Hallett from the National Institutes of Health (NIH) will give an overview of SBIR and STTR Small Business programs at the NIH. 

The talk will include:

  • A description of the programs and goals
  • Tips on applying
  • Resources available to researchers and small/startup businesses interested in translating their technologies into commercial products

At the end of their presentation, the speakers will respond to questions from the audience.

If you want to find ways to expand your biomedical startup using NIH funding, you won't want to miss this webinar!

Register for Webinar

About the Presenters:

StephanieFertib_Headshot.jpgStephanie J. Fertig
Director, NINDS Small Business Programs 

Ms. Fertig joined the National Institute of Neurological Disorders and Stroke (NINDS) in 2004 and currently serves as the Director for the NINDS Small Business Programs, which includes both small business innovative research (SBIR) and small business technology transfer (STTR) projects.

KoryHallett_Headshot.jpgKory Hallett, PhD

Kory Hallett is a member the Small Business Innovation Research Development Center at the National Cancer Institute. Kory manages program evaluation for the Development Center, and provides program support in the areas of immunotherapy and monoclonal antibody technology. 

Kory also participates in the Center's many initiatives to support the development of innovative cancer technologies.

 
 
                                   wiblogo-200.jpg                       sharevault-logo-bluebg.jpg

Topics: Events

2015 BioPharma Partnering Year in Review [infographic]

Posted by Steve Joseph on Jan 5, 2016 11:39:53 AM

2015 was a busy year for biopharma deals and alliances. In fact, the total value of mergers and acquisitions in life sciences in only the first quarter of 2015 ($166.3 billion) exceeded the total for all of 2014. To help untangle the wealth of activity, we've created an infographic that provides a high-level overview of the main biopharma partnering deals of 2015.

Quickly see what collaborations have been forged over the last year in the various therapeutic areas, and drill down for more detail by clicking the hyperlinks to news releases.

2015_Partnering-Year-in-Review-v2-Web-Preview-NoText.png
To download the infographic with live links to press releases, click here.

Get the Infographic

Many of the deals in this infographic were done using ShareVault to share due diligence materials.

Find Out Why

 

Topics: Information

ShareVault Attends Biotech Showcase 2016

Posted by Steve Joseph on Jan 4, 2016 1:49:52 PM

biotechshowcase_logo.jpgBiotech Showcase™ 2016
January 11–13, 2016 | San Francisco

ShareVault is excited about attending the upcoming Biotech Showcase™ in San Francisco, where we’ll be showcasing the many benefits of using ShareVault for biotech licensing deals and fundraising.

Biotech Showcase is one of the industry's largest annual healthcare investor conferences, providing an opportunity for both private and public biotechnology and life science companies to meet with—and present to—investors and pharmaceutical executives from around the world during this critical week that is widely viewed as setting the tone for the coming year. This year the conference is expected to host over 2100 attendees from more than 1200 companies.

Now in its eighth year, this rapidly growing conference features multiple tracks of presenting companies, plenary sessions, workshops, and opportunities for networking and scheduling one-on-one meetings.

In addition to biopharmaceutical and life science company executives, Biotech Showcase delegates include investors in private and public companies, sector analysts, bankers and industry professionals.

If you’re planning on attending, we’d love for you to stop by and say hello!

Topics: Events

Even More of What's Hot in Immuno-Oncology Licensing

Posted by Steve Joseph on Nov 23, 2015 12:09:31 PM

immuno-oncology-part2-sm.jpgImmuno‑Oncology (I‑O) is a rapidly evolving field that focuses on the immune system in the fight against cancer. Today, surgery, radiation, and cytotoxic/targeted therapies are common treatment approaches in many advanced cancers. However, global mortality rates remain high for many patients with advanced tumors. The goal of Immuno-Oncology (I-O) research is to fulfill the unmet need for improving clinical outcomes in several advanced cancers by finding new ways to stop cancer from evading the immune system, thereby restoring the body's natural ability to recognize and eliminate cancer.

On October 6th, 2015 ShareVault presented a live web panel where the panelists discussed what was exciting in the immuno-oncology field. The discussion was so popular that we've decided to follow it up with a second web panel, "Even More of What's Hot in Immuno-Oncology Licensing

December 10th, 2015 from 2 - 3:15 EDT / 11 - 12:15 PDT. 

The panel discussion will be moderated by Linda Pullan, a biotech licensing and pharmaceutical development consultant. Linda will be joined by four panelists who are business development experts from global pharmaceutical companies, a leading academic cancer center, and a top business development consulting firm.

The topics that will be covered in the continued discssion include:

  • Cell recruitment
  • Innate immunity
  • Other approaches
  • Licensing criteria
  • Biomarkers
  • Strategy
  • Deal terms
  • And more...

The panelists will also respond to questions from the audience.

If you are developing an immuno-oncology drug or working toward in- or out-licensing one these perspectives will prove invaluable.

Register for Web Panel  

The web panel will be co-hosted by ShareVault, Pullan Consulting, Defined Health, BIO, LES, and The Trout Group

Topics: Events

How to Organize a Due Diligence List for BioPharma Partnering

Posted by John Badger on Nov 5, 2015 9:48:00 AM

STRUCTURE YOUR VIRTUAL DATA ROOM TO ACCELERATE YOUR DEAL

Given the rapid pace of innovation in today’s Life Science industry it has become more important than ever for biotech companies to align themselves with strategic partners in order to advance their most promising drug candidates toward market readiness. But successful BioPharma partnerships don't happen by chance and negotiating an out-licensing deal can be complex—especially when the company may also be progressing the clinical portfolio.

Life science companies attempting to optimize the commercialization of their assets often find the process daunting. In addition to determining the appropriate value of the asset and being prepared for negotiations, life science companies also often face the challenge of how to best organize and present all the data and documents to potential partners in order for them to make an informed decision.

The ideal platform for doing this is a virtual data room. A virtual data room not only keeps information secure, but also offers many other features that minimize risk, save time and increase the likelihood of completing successful transactions.

Virtual Data Room Functionality

  • Access: Access levels in a virtual data room can be customized based on the stage of diligence for the particular partner. During the early stages of diligence you may only want the potential partner to have access to a limited number of files. As diligence progresses, and the seriousness of the partner is demonstrated, more access can be granted. It’s also possible that different groups within the same company might be granted different levels of access to the data room.
  • Printing: Most data rooms have the capability to allow or disallow printing on a document-by-document basis. When printing is enabled ensure that appropriate watermarks are added.
  • Downloading: A data room will also allow or disallow for downloading of documents. Some data rooms have the additional functionality of being able to “virtually shred” documents after they’ve been downloaded.
  • Additional Functionality: Other features to look for in a data room include the ability to see which files and pages have been viewed, by whom, and for how long, as well as customized reporting tools.

Recommended Data Room Structure

 

Not all deals are the same and not all assets are the same, but populating your data room with the following information will give you a good start when a potential partner or licensee wants to begin negotiations. If further information is requested it can be added to the appropriate place in the data room in a matter of minutes. 

The Corporate Overview folder will contain information on the overall company and its focus as well as providing details on the executive team, advisory boards, and corporate structure. The number of files in this folder will depend on the size of the company as well as the intended deal structure. For example, a corporate transaction will have significantly more files within this section compared to a product-level transaction.

The Investment Overview folder will contain information that will be accessibility staged for the different levels of the diligence process. It might contain a non-confidential deck, a confidential deck, and possibly a folder containing Q&A responses customized for a particular company.

The Commercial Strategy folder will contain an overview folder followed by more detailed information about the company’s commercial strategy including market research that’s been conducted, competitive analysis and commercial forecasts. Most partners will expect some level of market analysis, especially as a product nears the market.

The Pre-Clinical Program folder will have an overview folder, as well as folders containing completed studies, on-going studies and planned studies. The overview folder should contain a description of all studies, timing and status. The specific folders should contain completed reports (or draft reports) of all studies. Published manuscripts should also be included.

The Clinical Program folder will be very similar to the Pre-Clinical folder starting with a program overview folder then progressing to completed studies, on-going studies and planned studies. The Overview folder should contain a description of all studies, timing and status. The specific folders should contain completed reports (or draft reports) of all studies. Published manuscripts should also be included.

The Regulatory folder will contain a folder for Investigator’s Brochure (IB), a folder for IND as well as a folder for sequentially placed regulatory conversations that may have taken place. The regulatory folder should contain the latest documents and an archive of historical regulatory documents.

The Intellectual Property folder will contain patent estate, granted patents, pending patents and other legal documents that may be of relevance.

The Manufacturing folder might contain a folder containing a facility overview, CMO/CDO contracts, process and process validation data, as well as other policies and procedures, inspection documentation and certificates. Specific manufacturing data is not normally shared until late in the due diligence process.

BioPharma partnering and out-licensing can be daunting, but it doesn’t have to be prohibitively so. The key to successful biopharma partnering is being prepared well in advance of negotiations, determining the appropriate value of the asset, being internally aligned on both deal value and deal structure, and then presenting due diligence materials in a well-organized data room for partner review.

To learn more about how a virtual data room can faciitate the biopharma partnering process download our free white paper, "Four Essential Steps to Successful BioPharma Partnering."

Download the Free White Paper

Topics: Products

How to Redact Text or Images in a PDF

Posted by Phil Bandy on Nov 4, 2015 8:11:25 AM

Before distributing a PDF, you may want to delete confidential or sensitive personal information (such as credit card numbers, social security numbers or email addresses) that you don’t want to share. This is called “redaction.” Redaction is the process of permanently removing visible text and graphics from a document. Unfortunatlely, many people believe that redaction is simply drawing black boxes on top of text using PDF annotation tools. Although it looks very similar to redaction, drawing black rectangles over text or images does not prevent the reader from copying the text or graphics that are beneath the black rectanges. In other words, even if you can't see the information, it's still there and it's easy for a user to copy it. A proper redaction tool not only blacks-out the content, but also deletes the underlying text and images.

There are many horror stories related to sharing of PDFs that were not properly redacted.  Refer to this article on the American Bar Association website for more information on the dangers of improper redaction.

Fortunately, using Adobe Acrobat it’s quite simple to redact text or graphics from a PDF in order to remove sensitive information:

  1. Choose Tools > Protection > Mark for Redaction

  2. To change the appearance of redaction marks, click Redaction Properties. The default redaction area fill color is black, but you can change it to anything you like, or no color at all.

  3. Mark the items you want to remove by doing any of the following:

    • Double click to select a word or image.
    • Drag to select a line, block of text, object or area.
    • Press Ctrl as you drag to select areas of a page in a scanned document.

To preview how your redaction marks will appear, hold the pointer over the marked area.

  1. Click Apply Redactions. Note: The items aren’t permanently removed from the document until you save it.

You can also use the Search and Redact feature to search an entire PDF for terms or phrases that you would like to redact.

  1. Choose File > Save and specify a filename and location. The suffix _Redacted will be appended to the filename. If you don’t want to overwrite the original file, save the file to a different name, location, or both.

That’s all there is to it!

Remember it’s not enough to simply select text and change the highlight color to black, like this: This text is not properly redacted. Try it yourself – you can just copy the text in that black box to see what it says. A PDF works the same way, so to permanently remove text from a PDF you must use the Redaction tool.

To learn more about how ShareVault is the industry leader in securing docoments for third-party sharing, visit www.sharevault.com.

Topics: Security

Shorten Loan Cycle Times, Increase Volume and Make Borrowers Happy

Posted by Anthony Wilson on Nov 3, 2015 12:45:15 PM

The evaluation and approval process in commercial lending involves comprehensive information gathering and financial analysis in order to make a sound judgment regarding the borrower’s financial stability and ability to repay the loan.

However, as anyone who has ever conducted due diligence knows, this process of “getting to know” the business, although simple in concept, is quite rigorous in practice.

Banks are highly regulated and operate on very thin margins so there is little room for write-offs and bad loans. When conducting due diligence on a borrower, banks must thoroughly investigate the entire business, not too dissimilar from an M&A process.

This process requires that borrowers share voluminous sensitive business files with the bank, which are then often evaluated by numerous bank team members. Providing this information is typically done via email, but using email for this process has numerous pitfalls:

  • Email is unsecure and files can be compromised
  • Files may not be forwarded to appropriate team members in a timely fashion resulting in delays in evaluating the loan request
  • Emails can be forwarded to inappropriate team members (even someone outside the bank)
  • Emails can be lost or accidentally deleted
  • Inboxes can get very crowded and information can become disorganized and difficult to locate

All of these issues can result in gross inefficiencies and significant delays in the loan decision process. Why should banks care?

  • Because slow loan approval turnaround can cause pain for borrowers by delaying their business decisions and resulting in a bad reputation for the bank and a reduction in future business and revenues
  • Because quicker turnaround times allow the bank to process more loans resulting in increased revenues
  • Because borrowers are usually ok with a “no” as long it is a quick “no.” A long, drawn-out “no” leaves the borrower with the impression that the bank does not understand their business
  • Because sharing borrower’s files via unsecured emails vastly increases the risk of sensitive information being compromised, resulting in damaged reputation, or even a lawsuit

A better solution is to employ a secure, online central repository, or virtual data room, to house, organize and share documents during the loan approval process. When documents are stored in a virtual data room not only are they completely secure, but they can be organized for easy review by appropriate team members, greatly accelerating the loan approval process. A state-of-the-art virtual data room is also easily customizable in terms of who gets to see what and can even “virtually shred” documents, even after they’ve been downloaded.

A good virtual data room:

  • Secures and controls confidential documents
  • Provides immediate document access to appropriate team members on a 24/7 basis from anywhere with an internet connection
  • Organizes content for efficient review thus streamlining the review process
  • Provides detailed tracking and audit information for regulatory compliance

The fact is that banks that use a virtual data room for the commercial loan approval process have a significant competitive advantage over those that don’t. Using a virtual data room for loan approval greatly accelerates the process, which not only makes borrowers happy, but allows for much higher volume, while at the same time ensuring that the process is as thorough and comprehensive as possible.

ShareVault is increasingly being used by commercial banks for managing the due diligence document review process in a variety of different transaction scenarios and has gained a significant customer base among leading commercial banks.

To find out more about how ShareVault can short loan approval timelines and increase loan volume, click here.

Topics: Information

ShareVault Attends SoCalBio’s 2015 Investor Conference

Posted by Steve Joseph on Nov 2, 2015 8:00:00 AM

November 6 | 2015 - Long Beach, California

On November 6th, 2015 ShareVault will be exhibiting at the 17th Annual SoCalBio Conference at the Maya Hotel in Long Beach, California. If you're going to be there, please stop by and say hello.

The SoCalBio Conference is an annual event organized by the Southern California Biomedical Council (SoCalBio) and showcases Southern California value-based bioscience innovations and explores efficient pathways to bring them to market. In addition to plenary sessions, business roundtables and therapeutic workshops, this conference will feature at least 40 company presentations showcasing the strength and future of the bioscience industry in Los Angeles/Orange County and neighboring communities.

The SoCalBio Conference features:

  • Company presentations by emerging biotech, device, diagnostic and digital health companies
  • Plenary sessions on cutting-edge therapeutic and diagnostic technologies
  • Expert-led workshops on the latest bioscience market trends and investment opportunities
  • Opportunities to network with industry executives and investors focused exclusively on life sciences

The conference will be attended by:

  • Biotech, Pharma, IVD, Informatics and Medical Device Company Executives
  • Venture Capitalists
  • Angel Investors
  • Investment Bankers
  • Life-Science Educators and Researchers
  • Service Providers
  • Policy Makers and Economic Development Professionals
  • Media Representatives

This is a great opportunity to learn about the latest bioscience innovations and to showcase your own innovations with investors and licencees. 

To learn more about how ShareVault can be a critical tool for facilitating bioscience fundraising and licensing, click here. 

Topics: Events

About ShareVault

Simple & Secure Document Sharing

ShareVault offers virtual data rooms for securely sharing documents with third parties. Typically used to share due diligence documents during M&A, partnering, fundraising and other dealmaking scenarios, ShareVault is increasingly being used for a wide variety of other applications, primarily in highly regulated industries, for securely sharing documents with third parties. ShareVault can be set up and deployed in an hour, yet offers enterprise-grade security and scaleability.

Learn More About Sharing Documents Simply and Securely Using ShareVault

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