HEALTHCARE

The process of innovation

MUCORTODONT Dra. Xxxxx Xxxx – Medial device protector de mucosa pels ortodoncistes

GALENIA Dra. Xxxxx Xxxx – Portal informació sanitària

DAGDr. Xxxxx Xxxx – Clíniques Atenció Primària col·lectiu Alemania

NEWEYESDr. Xxxxx Xxxx –Tractament de la presbícia amb làser

O+Sr. Xxxxx Xxxx –Avisador presa fàrmacs

Wi-GDra. Xxxxx Xxxx – TI

GeriatDra. Xxxxx Xxxx – Centres Geriàtrics

DISPOSITIU EN DELTADr. Xxxxx Xxxx – MedicalDevice cirurgia ortopèdica

WDMP Sra. Xxxxx Xxxx –Monitorització a distancia patologies cròniques

PDU Dr. Xxxxx Xxxx –Unitats de diagnòstic incontinència

VISUAL CORDr. Xxxxx Xxxx – Software de gestió en cardiologia

UTD Dra. Xxxxx Xxxx – Unitats de tractament integral dermatològic

ERA BIOTECHSr. Xxxxx Xxxx – Enablingtechnology biotech produccióproteica facilitada

IRCDr. Xxxxx Xxxx – Institut de Rehabilitació Cerebral

IMPODr. Xxxxx Xxxx – IT informació mèdica personal online

NEUROSCIENCE TECHNOLOGIESDr. Xxxxx Xxxx – Suport a la indústria en investigacióbàsica

PIGPAP Dr. Xxxxx Xxxx – Software gestió consultes

TM Dr. Xxxxx Xxxx – Sistemes telemedicina

CITOGYN Dr. Xxxxx Xxxx – Medicaldevice citologia cervix

DIGMO Dr. Xxxxx Xxxx – Medicaldevice medició estrabismeSALTBAG

Dr. Xxxxx Xxxx –Dispensador de sal per malalts amb HTA

CITOGYN Sr. Xxxxx Xxxx– Medicalliterature en castellà

IDEA OPPORTUNITY VALUE VC Start-up

NUCLEOTIDEDr. Xxxxx Xxxx – Uso nucleotidos en leches y nutricion en general

AMB-PATDr. Xxxxx Xxxx

SEPARADOR URO Dr. Xxxxx Xxxx

SOFT GEST CAPS Dr. Xxxxx Xxxx

RFID Sr. XxxxxXxxx –Control congressos

Medical G. Xxxxx–Dispositiu Control Diabetics

Psiqu OnlineSr. Xxxxx Xxxx – Eina formació col·lectius

HomeovisionDra. Xxxxx Xxxx

Stop PEE-PEEDr. xxxxxx – Medical Deviceincontinencia urinaria

Odonto movilDra. xxxxx – Modelo negocio servicio

Reactivos diagDra. xxxxx – Medical Devicetubos analisis automáticomicroorganismos

CANULA TUMOR Dr. xxxxxxxxxxxx –Medical Device cirugía

Instituto columna Dr. Xxxxxxxxxxxxxx –Modelo negocio servicios

VACCSAC Dr. Xxxxx Xxxx –Eco vascular

ESTETODONTO Dr. Xxxxx Xxxx –Estetica en odonto

MULTIFEV Dr. Xxxxx Xxxx –DIagnost neumo

SINCRON Dr. Xxxxx Xxxx –Errores pharma

10 things you needto know to

innovatein the healthcare sector

How much is an idea worth?

#0

Where do ideascome from?

#1

Auto-test screenerA 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.

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

Sector: Medical Devices

Enabling TechnologyA 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.

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

Sector: Life Sciences

Retail healthcareA 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.

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

Sector: Services

Wireless disease managementSeveral 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.

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

Sector: IT

It is important to know the healthcare sector

#2

• Healthcare value chain is the instrument to know all stakeholders

•It is essential as well to know the 4 areas of healthcareinnovation, they usually interact.

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Consumer, prescriber and payerThree different stakeholders, each one of them worried by differentissues

Consumer

Prescriber

Payer

The healthcare sector: opportunitiesHealthcare idea value chain evolving

A heavily regulated marketplace

In the last years, healthcare has witnessed the emergenceof an increasing regulatory environment throughout theworld. This environment has an impact on how productsand services are tested on patients, and how they get approved.

Big compaies wantto buy innovation, R+D is becomingR+A

Trends

Elderly peopleon the rise

Large amountof clinical

needsunderserved

Active, more mobilethan previousgenerations

Opportunities in all 4 sectors

Qualitativetechnological

breakthroughs

Moreefficientchannels

Consolidationas something

good for start-ups

Healthcare Sector

Supply and demand

•If a product is more expensive, its demandfalls (?)

•Weird effect on healthcare

•Medical Devices

•Life Sciences

•Services

•IT

TARGET

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Imagine the story of a healthcare idea

#3

What? How? Who?

- 28 -

Is it an opportunity?

#4

Good idea = Opportunity

We need to learn to recognise an opportunity from a goodidea.

Sustainable business

model

Qualified team

Strong IP / BE Large

market

Great product

Smooth path to market

Perfect

The perfect initiative

IntelectualProtection

#5

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Choosing a future

#6

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Team

#7

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Raising capital

#8

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Valuation

#9

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Deal structure

#10

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PROTECTION AGREEMENTS

•Non-disclosure

•Non-compete

COMMON SHARES

•Tag-along right

•Pre-emptive right

•Registration rights

PREFERRED SHARES

•Royalty rights

•Dividend rights

•Registration rights

•Board rights

•Information rights

•Liquidation rights

•Conversion rights

•Redemption rights

CONVERSIONS

•Price conversion

•Future price conversion

•Interest payments

WARRANTIES

•Warranties andrepresentations

•Anti-dilution

•Entrepreneur compensationlimits

•Special voting or consentrights

•Warrants

•Follow-on financings

•Right of first refusal

ANALYSIS

•Exit impact

•Relationship impact

•Downside protection

•Upside protection

•Entrepreneur protection

•Worst case scenarios

•Notes and suggestions

DEAL STRUCTURE

INTRAPRE NEURSHIP

EXECUTION

All levels, MDs, healthcare professionals

Identify opportunities

Clinician buy-in

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

Benchmark innovative practices outside

Training CULTURE

DETECTION

BENCH MARKING

ECOSISTEM

Encourage entrepreneurial culture

Technology transfer

Implementation and follow-up

Generate portfolio projects

Promote generated innovation Attract new value

generators

All sectors, life sciences, medical devices, services

Calculate operative impact and €

Generate “rules of the game”

Generate spin-offs

Adapt external ideas

Best practices

Define process

Use same criteria as venture capital to follow execution

Incentivatedialog and risks

INNOVATION

LIFE SCIENCES INNOVATION ECOSYSTEM

BMA

Business schools

ESADE

IESE

EADA

Support

Dealflow

Venture capital

Innova 31

SofinnovaRiva y Garcia

Co-inversió

Dealflow

Gov

Bioregion

CIDEM

Business angels

BANCAT

Keiretsu Forum

Research Institutes

•IMIM / H.del Mar

•IDIBAPS / H. Clínic

•IDIBELL/ H Bellvitge

Incubation start-ups

Fund managers

GFCRs

XPCAT

IESE, ESADE, UPC

UAB, UB, UG, Salle

Partner financer

MultiM

ulti

Hospitals

Gilde

Highgrowth

•H Sant Pau

•H. Vall d´Hebron

•H Badalona

•Parc recercabiomed

•etc…

CorsabeLa Caixa CR

Biofocus

HSJDM.D.s

AltaPartners

Thank youwww.healthonomics.org

Luis Pareras, M.D.

lluis.pareras@comb.es