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TJ Hughes, HPSU Industrial & Life Sciences Enterprise Ireland IDEAGEN Presentation
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Ideagen TJ Hughes HPSU 18th September 2012
Medical Technologies Sector
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
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
Highlights 2011…
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
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
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%
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
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
• 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
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Pharma & Medtech models globally are under strain, therefore Ireland INC also has
a problem
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
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
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!]
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
Funding
VC Funds€520 million
Seed Funds€124 million
Pre-Seed
Development Process
ABC
ABC
ABC
ABC
Stakeholder Engagement VitalABC & patients, regulatory bodies, Ethics Committees
Thank you