Tuesday, 24 January 2006

Welcome introduction

• Herve de Kergrohen, Chairman

Official Opening Address

• Pierre-François Unger, President of the Geneva State Government and Minister in Charge of the Economy and Health
• Philippe Sordet, President, BioAlps
• Roger Vioud, Chairman of the International Commission of the Regional Council of Rhône-Alpes

Key Note Presentation

“The role of the European Investment Fund in the promotion of venture capital in Europe"

• Jean-Philippe Burcklen, Head of Venture Capital Operations, European Investment Fund

The European Investment Fund has been pivotal for many European venture funds since 2000 as it provided public funding to complement private money raised by the financial community. Its specifications and constraints have largely contributed to the shaping of investment strategies, in particular its geographic limitations. Several years after the largest wave of VC fund creation throughout Europe, the EIF is in a unique position to draw conclusions regarding fund relative performance. The VC community is watching carefully the new guidelines of the EIF as they will weigh upon the next generation of funds. Further down the investment pathway, this leading role will also influence the business models of start-ups as well.

Panel discussion

“Several funds of funds representatives analyze the performance of VC funds and make recommendations for the future”

The panel will discuss the best practices and the investment strategies of some of the largest Limited Partners in Europe. Following a five-year period during which European innovative health care start-ups have struggled to attract venture capital money, we are witnessing hard challenging times for European venture capital funds themselves. The majority of existing VC investment companies were created at the peak of the stock market bubble. 5 years later, they must raise new funds. In the USA, Limited Partners have been quite indulgent with the negative performance of VC funds that accompanied the market crash, but in Europe, except for a small group of early incumbents, the VC industry was just starting to exist, and its poor mediocre performance is the only track record it has to show. The panel will discuss the past performance of the European VC industry, the different structures and the various strategies of advised by major LPs.

Moderator

• Hervé de Kergrohen, Chairman, BioData

Panellists

• Daniel Balmisse, Deputy COO, CDC Entreprises FP Gestion
• Jean-Philippe Burcklen, Head of Venture Capital Operations, European Investment Fund
• Joost Holleman, Principal Fund Investments, AlpInvest Partners
• Serge Raicher, Partner, Pantheon Ventures
• Hans Van Swaay, Head of Private Equity, Pictet & Cie

Company Presentations

Company Presentations

Coffee Break

Plenary   Session

Key Note

“Vaccines: revived interest and new medical applications"

• Martin Bachmann, Executive Vice President & Chief Scientific Officer, Cytos Biotechnolog

Since Edward Jenner’s first successful use of cowpox to protect humans against smallpox infection, vaccines have saved tens of millions of lives. After years of relative dormancy, the field is now undergoing a revival. What are the reasons for this heightened interest? And what are the new prophylactic and therapeutic applications, beyond infectious diseases, for whichvaccines hold great promise? Are there new vaccine successstories emerging from the field of oncology and for the treatment of chronic diseases?

Panel Discussion

“Evolution of cancer markets: epidemiology, targeted chemotherapies, therapeutic vaccines, para-oncology, importance of quality of life”

The cancer "market" is evolving fast and with it, so are R&D; strategies. Epidemiology shows that cancer incidence is steadily growing. Prevention is a key approach to finding it. Targeted chemotherapy has emerged as the way to treat the various diseases called "cancer". Para-oncology is likely to be the largest segment, as many cancers are treated chronically. The panel will also highlight the importance of quality of life measurements: why prolong the life of patients who are terribly ill or in excruciating pain? Therapeutic vaccines, still a controversial issue, may well soon be the way to attack several forms of cancer. The panel will show that clinical trials in this field are well advanced and are a cause for hope.

Moderator

• François Thomas, Venture Partner, Atlas Ventures

Panellists

• Jean-Luc Balzer, Director Industrial Development and Programs, Cancéropole
• Jean-Yves Bonnefoy, VP, Chief Scientific Officer, Transgene
• Andrew Galazka, Senior Vice President for Scientific Affairs and Head of New Therapies, Serono International
• Eric Menotti, Fund Manager, Lombard Odier Darier Hentsch & Cie
• Michel Morre, CEO, Cytheris

Wednesday, 25 January

Panel Discussion I

“Has the IPO window solidly re-opened? Best alternatives to finance growth in the years to come”

Are European capital markets re-opening? Which companies and business models should use secondary markets to raise equity? Is a reverse merger on the Nasdaq better than a regular listing in Switzerland? For how long will the window stay open? What does it take to get your firm on the public markets? What are the risks of going public too early? Is it a real exit for VCs? How can early stage companies finance their deveolpment? The panel will discuss various strategies to raise money for innovative European companies, and address issues such as, how will the new markets such as Alternext and AIM fit between private equity rounds and more regulated markets such as the SWX and Euronext, and what kinds of companies should stay private and at what stage can they can fully benefit from quotation.

Moderator

• Benoît Bouche, Managing Director for Healthcare, Bryan, Garnier & Co

Panellists

• Francesco De Rubertis, Partner, Index Ventures
• Nathanaël Mauclair, Deputy Director – International Listings, Euronext
• Antoine Papiernik, Managing Partner, Sofinnova Partners
• Holger Reithinger, Principal, Global Life Science Venture
• Yvonne Wegmann, Head of Issuer & Investor Relations, SWX Swiss Exchange

Panel Discussion II

“How to better master the potential delays coming from biotech manufacturing issues"

Manufacturing delays are the hidden cost of biotechnology. Most venture-backed biotech companies outsource their GMP production. How do you monitor the interaction between two very different worlds: the small, nimble bio team and the large bulk manufacturer? At the same time, there are certainly benefits to be gained when biotech starts negotiating with big pharma, as delays in manufacturing of several years can seriously harm future prospects. The panel will discuss the perspectives of the suppliers of GMP material, biotech entrepreneurs and the large biopharma partners, but also address the issue of biogenerics that represent both an opportunity and a threat. It is set to answer key questions on this technical issue so that they become fully integrated into the business model of biotech companies.

Moderator

• Jennifer Griffiths, Director Business Development, Novartis Pharmaceuticals

Panellists

• Bernard Lemaître, CEO, STEDIM
• Michel Morre, CEO, Cytheris
• Claudio Nessi, Partner, NeoMed

Analyst Panel Discussion

“Will 2006 continue the positive cycle for the biotech and medtech industry? Companies to watch and follow in 2006 and beyond”

After the significant corrections in the market of the last four years, biotechnology stocks have attracted renewed investor interest in 2005, with an average growth of 18 % in the sector. This is due to an increase in the number of products launched, the development of new technologies and the increasing number of biotech companies starting to show a profit. The medtech sector has equally shown recent gains. Will this positive trend continue in 2006? In addition, the IPO window seems re-opened in Europe . The venture capital pipeline of would-be IPOs is full. Exonhit, first IPO Biotech on Alternext has enjoyed great success. Swiss and foreign companies are in a solid position to raise money on SWX. Is Nasdaq the most serious option? What are the best analyst recommendations for sectors as well as individual bets in 2006?

Moderator

• Hervé de Kergrohen, Chairman, BioData

Panellists

• Zubin Dastoor, Senior Financial Analyst, Neue Zürcher Bank

• Andrew McDonald, Research Analyst, ThinkEquity Partners
• Cédric Moreau, Analyst, Bryan, Garnier & Co
• Daniel Steck, Healthcare Analyst, Lombard Odier Darier Hentsch & Cie

Company Presentations

Company Presentations

FIRST TUESDAY

Plenary Session

Panel Discussion I

“Smart strategies for business development”

Business development strategies are becoming increasingly complex. How to learn from recent successes? The panel shows the specifics of the Glycart exit, the Kuros strategic alliance and the Xytis financing strategies. Whatever the route, it is based on value to the partner. The after-deal situation is essential in many modern deals, and must be specified precisely in the agreement. The negotiation of such agreements can take 12 to 18 months. Those who have lived through this kind of marathon explain what it demands.

Moderator

• Patrick Nef, CSO & VP Business Development, Xytis Pharmaceuticals

Panellists

• Fabio Cavalli, CEO, MondoBiotech

• Didier Cowling, CEO, Kuros Biosurgery
• Andreas Emmenegger, CFO, Glycart biotechnology
• Simon Moroney, CEO Morphosys
• Francesco Sinigaglia, CEO, BioXell

16:45 - 17:25

Panel Discussion II

" Revival of the vaccine market: therapeutic vaccines, avian flu. Challenges in meeting demand, and new investment opportunities"

The avian flu epidemic has led to accelerated interest in vaccines. Manufacturing delays and the difficulties in monitoring the incidence peak have been cause for major controversies. What is the reality of the potential human epidemic behind the media chaos surrounding this issue? Beyond infectious diseases, there is the question of new markets for vaccines. The vaccine business model has regained interest within the investment community because therapeutic vaccines and vaccines therapy of cancers, addictions and allergies considerably broaden their scope.

Moderator

• Madeleine von Holzen, Journalist and Partner, Bontron & Co

Panellists

• Jaap Goudsmit, CSO, Crucell

• Isabelle Nuttall, Programme Manager, WHO
• Christophe Reymond, COO, Anergis

Panel Discussion III

“Nanobiotechnology, Robotics, Artificial Intelligence, the jewels of the neighboring Rhône Alpes Region.
From basic research to concrete application ”

Close to the EPFL, on the other side of Lake Geneva, sits another jewel of Alpine technology: Grenoble . Home to a university with one of the most important applied mathematics departments in the world, and a leader in the fields of nanotechnologies, robotics and navigated surgery, to list just a few, Grenoble has attracted several large international companies. These will explain why they chose this city. The panel will also discuss the importance of creating a technology cluster in our extended region, from Neuchâtel to Grenoble, with the surprising example of its leadership in the field of bioinformatics.

Moderator

• Benoît Dubuis, Director, Eclosion

Panellists

• Philippe Cinquin, Head of Medical Informatics, University of Grenoble

• Zlatko Dimcovski, CEO, BioScan
• Dominique Gillot, Life Sciences Manager Europe, Middle East and Africa, Hewlett-Packard
• Patrick Henri, Senior Vice President Marketing & Business Development, Surgetics Network