RAD Biomed IncubatorRAD Biomed IncubatorThe Israeli incubator program started in 1991 to provide a sheltered environment for scientists and entrepreneurs from the former USSR
RBM was established in 1992 as general incubator, refocused in 1998 to biotech
Located in Tel-Aviv
Owned by the RAD group of companies
Six active graduate companies
MaimoniDex RAMaimoniDex RA
InnoScent Ltd
9 Incubator companies
The RAD Biomed PortfolioThe RAD Biomed Portfolio
ARIO MEDICA
TouchMed TissueDetectTissueDetect
Drug-delivery pump Gene therapy Peripheral atherectomy
Improved enzymes Molecular diagnostics Cord-blood harvesting
Endoscopy Epidural-space detection
OccuOccuPharmaPharmaOpthalmic drug-delivery
Our PhilosophyOur Philosophy RBM is a biotech incubator that serves as a natural interface
between the world of Israeli academic research and the global biotech industry
Long term vision: to build viable businesses and to create sustainable benefits to the economy and a significant return to investors and to the entrepreneurs
The goal of the incubation period is to prove the technological concept and its feasibility and to advance it towards commercialization.
To attain our goal we To attain our goal we establish for each project a business establish for each project a business model model && strong IP position, and demonstrate that it can strong IP position, and demonstrate that it can
attain profitability in a targeted market segmentattain profitability in a targeted market segment
The Deal FlowThe Deal Flow Projects are admitted to RBM either as a concept or as a small
team with molecule/technology & executive-summary/IP/work-plan etc.
Deal flow is generated in the following mannerDeal flow is generated in the following manner : :
Entrepreneurs approach the incubatorEntrepreneurs approach the incubator
Via our working relationship with TTOs Via our working relationship with TTOs
Proactive search for projects in Israeli academia Proactive search for projects in Israeli academia and and hospitals hospitals
Personal contactsPersonal contacts
Rad BioMed Functions as a mini Pre-Seed VC
Test Criteria
• Clinical Need• Team• Market• IP• Technology• Project status
RAD BioMed’s
Investment
CommitteeProactive
search
for
projects
Approval
ProductPositioning
Incoming deal- flow
Screening the deal-FlowScreening the deal-Flow
Our Nurturing Approach:
Mapping the needs (to reach the long-term goal),
Assessing all the available resources at set-up,
Implementing and supporting
NurturingNurturing The Young Projecthe Young Project
While keeping our focus on the startup’s long term goals, While keeping our focus on the startup’s long term goals,
we build the company’s work-plan we build the company’s work-plan && activities step-by- activities step-by-
step to position it for the next round of financingstep to position it for the next round of financing
RBM provides the incubator projects:
• Management & legal and financial support
• Business development and clinical consulting
• IP strategy and regulatory & reimbursement planning
• Extensive lab space for R&D
Nurturing The PeopleNurturing The People In an ideal world, the “unskilled” entrepreneur would step aside and make room for a “seasoned” business-oriented project-leader
In the “real world” we are limited by budget constraints, so we appoint a project manager and then mentor and coach …
Coaching, coaching, coachingCoaching, coaching, coaching:
Active interaction with project managers
Creating a “business-oriented” thinking process
Adhering to work-plan
FundingFunding
RBM incubator is owned and funded by the
Chairman of the RAD Group of Companies
The projects are funded by the Israeli Government and matching-funds are provided by the owner of RBM
Additional funding may be provided by business angels before or upon entry, and/or during the incubation period
Our companies seek VC or corporate funding upon graduation and at-times also during the incubation period
RBM maintains an active role in the fundraising RBM maintains an active role in the fundraising processprocess
Task Oriented Management Task Oriented Management TeamTeam
Idan Tamir, Ph.D. President & CEOBinah Baum, Ph.D.
MBADirector, Business Dev
Shoshi Keynan, Ph.D.
Project Manager
Drug development specialistsRAD group of
companies
Medical deviceconsultants
project IP experts
Clinical & regulatory experts
Handling The Maturing Handling The Maturing CompanyCompany
Building Value To The Next LevelBuilding Value To The Next Level
√√ Demonstrating proof of concept –critical milestone
√ √ Creating a strong IP position with freedom to operate
√√ Initiating regulatory procedures – what does the FDA look for? Initiating discussion with regulatory consultants
√ √ Preparing succinct business plan for next investment round
√√ Creating a professional advisory board & appointing a medical director
√ √ Initiating alliances with companies e.g. FP7 consortia
√√ Helping to secure follow-up financing / alliances with strategic partners
WeaknessWeaknesseses
Is project funding sufficient for required tasks?
will the tight budget allow us to chose the “perfect” manager?
How well do Government financing programs adapt to changing needs?
Distance from global markets
Support & coaching to company management
Responsibility and accountability
Focus on value creation - always market oriented Work-plan within a limited budget
Achieving technological POC within these constraints
Determination, flexibility & success orientation
StrengthStrengthss
Go Europe:Go Europe:
create alliancescreate alliances
Inclusion of our SMEs in FP7 consortia
Participation of incubator in FP7 consortia
Collaborations betw. our SMEs and clinical-centers
/SMEs in other European bioregions
Incubation of European pre-seed projects in RBMIncubation of European pre-seed projects in RBM
What do we need to do in order “to do betterWhat do we need to do in order “to do better? ”? ”
Janez Potocˇnick,European Commissionerfor science and research