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Ideagen TJ Hughes HPSU 18 th September 2012 Medical Technologies Sector

TJ Hughes, HPSU Industrial & Life Sciences Enterprise Ireland

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TJ Hughes, HPSU Industrial & Life Sciences Enterprise Ireland IDEAGEN Presentation

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Page 1: TJ Hughes, HPSU Industrial & Life Sciences Enterprise Ireland

Ideagen TJ Hughes HPSU 18th September 2012

Medical Technologies Sector

Page 2: TJ Hughes, HPSU Industrial & Life Sciences Enterprise Ireland

Large Companies(Exporting)

Exporting SME’s (HPSU’s)

Micro Enterprises

Domestic Market BusinessesLarge SME’s Micro

Companies Businesses

Enterprise Ireland works with…

Ente

rpris

e Ire

land IDA

CEBs

….Internationally Trading Businesses throughout

the economy

Page 3: TJ Hughes, HPSU Industrial & Life Sciences Enterprise Ireland

Who we work with…

Entrepreneurs starting companies

with an ability to compete in world

markets

Ambitious co’s with the ability to scale & achieve

significant success

Manufacturing & Internationally

Traded services companiesemploying ten or more

Irish-basedfood and natural

resource companies that are overseas owned or

controlled

High PotentialStart-up’s

Scaling

Established SME’s Multinationals

Potential Exporters

Established SME’s currently focussed on the domestic market

who have the ambition to export

Developing links with Irish enterprise, MNCs to support

research collaboration, commercialisation of publicly funded research, and access

to FP7, ESA

Research Community

Page 4: TJ Hughes, HPSU Industrial & Life Sciences Enterprise Ireland

Highlights 2011…

Page 5: TJ Hughes, HPSU Industrial & Life Sciences Enterprise Ireland

It’s about Jobs and Economic Impact

EMPLOYMENT = 145,983SPEND IN ECONOMY = €17.0bn

IRISH OWNED COMPANIESEMPLOYMENT = 138,488

SPEND IN ECONOMY = €17.9bn

FOREIGN OWNED COMPANIES

Source: 2010 ABSEI, 2011 Forfás Employment Survey

IRISH SERVICES

€3.9bn

PAYROLL€5.4bn IRISH

GOODS €7.7bn

PAYROLL€7.6bn

IRISH SERVICES

€8.2bn

IRISH GOODS €2.2bn

100,000 Jobs by 2016

Page 6: TJ Hughes, HPSU Industrial & Life Sciences Enterprise Ireland

Indigenous Life Sciences• 250 Clients – 50% Medical Technologies

• 20 new start-ups per year / MBO’s

• Medical sub-supply, finished devices (e.g., cardio-, peripheral, orthopaedics, NOTES), diagnostics, specialist services, connected health

• €1bn+ Sales, Exports €760m, Employment of 6,000 people

• 9% export growth in 2011 & 8% employment growth

Page 7: TJ Hughes, HPSU Industrial & Life Sciences Enterprise Ireland

Top 15 EU employment centres for medical devices

Figures for 2007

Region Medical Devices Employment

European Share

Veneto, IT 21,269 4.32%

Ireland, IE 20,360 4.13% Freiburg, DE 15,526 3.15% Lombardia, IT 15,005 3.05% Île de France, FR 11,158 2.27% Niedersachsen, DE 10,289 2.09% Emilia-Romagna, IT 9,860 2.00% Rhône-Alpes, FR 9,252 1.88% Karlsruhe, DE 8,565 1.74% Oberbayern, DE 8,061 1.64% Danmark, DK 7,948 1.61% Tübingen, DE 7,740 1.57% Stuttgart, DE 7,614 1.55% Espace Mittelland, CH 7,155 1.45% Berlin, DE 7,133 1.45%

Page 8: TJ Hughes, HPSU Industrial & Life Sciences Enterprise Ireland

1980’s• Silk & catgut suture• Latex gloves• Heavy Medical Equipment (beds)• Mechanical Respirators• Anaesthetic machines

1990’s• Dynamic monitoring• Titanium prosthetics• Pulse oximetry• Dissolving sutures• Non latex gloves• Molecular diagnostics

2000s• Drug eluting stents• Hybrid prosthetics• Minimally invasive devices – surgical,

cardiac, pulmonary• Intubation devices• Imaging – new contrast & equipment• Remote Monitoring• Medical Services• Advanced Materials• Companion Diagnostics• Advanced Clinical Trials –

Biomarkers, Imaging, Software

Evolution of Medical Technologies2020

• E-Everything • Integrated Connected Health

Networks• Hospital to Home• Regenerative Scaffolds & Stem

Cells • New Materials• BioDevices• Next generation• Bespoke Biomedical Solutions• Virtual Robotic Surgery

Servicisation of Drug & Device Industry!!!Prevention/Wellness/Compliance

Healthcare Intelligence – Data Management / Data Analytics

Design, Development, Prototyping, Commercialisation, Manufacturing, Supply Chain, Services

Page 9: TJ Hughes, HPSU Industrial & Life Sciences Enterprise Ireland

Medical technologies where to startAesthetics/Dermatology (108 emerging companies)

• Biomaterials (298 emerging companies) • Biotechnology/Cell Therapy (304 emerging companies) • Cardiovascular (416 emerging companies) • Dental (52 emerging companies) • Diagnostics (367 emerging companies) • Drug Delivery (179 emerging companies) • Endocrine (160 emerging companies) • Gastroenterology (139 emerging companies) • Gynecology/Women's Health (142 emerging companies) • Imaging (203 emerging companies) • Neurology (254 emerging companies) • Oncology (283 emerging companies) • Ophthalmology (117 emerging companies) • Orthopedics (302 emerging companies) • Pain Management (83 emerging companies) • Patient Management/Monitoring (278 emerging companies) • Respiratory (139 emerging companies) • Spine (234 emerging companies) • Surgery (241 emerging companies) • Urology (158 emerging companies) • Vascular (240 emerging companies) • Wound Management (111 emerging companies)

Source Life Science Intelligence

Page 10: TJ Hughes, HPSU Industrial & Life Sciences Enterprise Ireland

• Challenges •Escalating costs •End to end disease management is inefficient •Regulatory •Investment

• Opportunity •New innovations that give better clinical outcomes and improved quality of life•Efficiency improvements

Global market dominated by USA, Western Europe and Japan but Emerging markets growing fast china, India, Brazil, Mexico

•Drivers •Patient Demographics•Care models focussed on wellness and prevention•Tele-health or connected health

• Restraints •Regulatory•Complex Purchasing systems•Reimbursement cuts and cost containment

Page 11: TJ Hughes, HPSU Industrial & Life Sciences Enterprise Ireland

11

Pharma & Medtech models globally are under strain, therefore Ireland INC also has

a problem

Page 12: TJ Hughes, HPSU Industrial & Life Sciences Enterprise Ireland

Some hot areas

• Transcather valves • Interventional treatment of Hypertension • Pulmonary Interventional tools• Regenerative medicine/organ replacement• Neuromodulation• Home dialysis• Robotics• Bioabsorable stents• Bionics• Non invasive body sculpting

Source Frost and Sullivan

Page 13: TJ Hughes, HPSU Industrial & Life Sciences Enterprise Ireland

Support for Third Level is Separate

13

Client company approvals 2011 = €110m+

Similar level of support in 2012

Approx 1/3 of funding towards Start-ups = €35m

EI has significant funds

Page 14: TJ Hughes, HPSU Industrial & Life Sciences Enterprise Ireland

Projects we invest in

EligibleManufacture or internationally tradable serviceManagement control in Ireland

High PotentialUsually based on technological innovationExport oriented10 employees within 3/4 yrs, Sales > €1m [but life-

science is different!]

Page 15: TJ Hughes, HPSU Industrial & Life Sciences Enterprise Ireland

HPSU Investment

Level of EI funding depends on exports, jobs & cash need

EI Investment is in equity [CCRPs] Minimum of matching external fundingAverage initial investment €250k

Due Diligence - the Business Plan• Market Risks• Execution Risks• Financial Risks

Page 16: TJ Hughes, HPSU Industrial & Life Sciences Enterprise Ireland

Funding

VC Funds€520 million

Seed Funds€124 million

Pre-Seed

Page 17: TJ Hughes, HPSU Industrial & Life Sciences Enterprise Ireland

Development Process

ABC

ABC

ABC

ABC

Stakeholder Engagement VitalABC & patients, regulatory bodies, Ethics Committees

Page 18: TJ Hughes, HPSU Industrial & Life Sciences Enterprise Ireland

Thank you