12:30 Main Conference Registration

1:00 Chairperson's Opening Remarks

1:15 How Does Licensing Fit into a Pharmaceutical Company's Long Term Strategy? · The world of biomedical research: internal research vs. external research for a pharmaceutical company · The changing face of drug discovery: how democratization of big pharma skills has changed the world of drug discovery · Can licensing strategies alter the high rate of failure for new chemical entities? · How can Biotech and Big Pharma leverage each others' skills through licensing?   Merv Turner, Senior Vice President, Worldwide Licensing & External Research, Merck & Co.

2:15 Licensing Early and Late Stage Compounds: Role in a Small Biotech's Corporate Development Strategy
· Role of licensing in a small biotech's corporate development strategy
· Interdependency of in-licensing product(s) and building of development capabilities
· Implications of current capital market conditions (driving need & creating opportunities for in-licensing)
· Multi-faceted goals of out-licensing/co-development & co-promotion with big pharma (cash, capabilities, quids)
  Colin Freund, VP, Business Development, GPC Biotech Inc

3:00 Networking Refreshment Break

3:30 The New Math for Drug Licensing: Why Early Stage Compounds are a Better Investment
Industry participants were asked for their opinions on the optimal timing for drug licensing. Most of the perspectives heard were qualitative, with a general sentiment from both Big Pharma and Biotech that optimal timing for deals was during Phase II clinical development. Contrary to conventional wisdom, analysis shows that Big Pharma and Biotech could create more value for themselves by doing deals earlier. To realize this value, both parties will need to change their approaches to drug licensing internally and in their dealings with potential partners.
James Kalamas, Principal, McKinsey & Co

4:15 Panel: Late Stage Compounds versus Early Stage Compounds: Which Make a Better Investment?
Moderator:  Andrew F. Branca, Vice President and Senior Analyst, CHI Insights
Panelists: David Steward, Director of Technology Licensing and Alliances, Aventis
Frederick Jones, MD, MBA, Assistant Vice President, Technology Licensing, Wyeth Pharmaceuticals
Bart Kwist, Senior Vice President, Global Business Development, Pharmaceutical Sector, Solvay

5:15 Close of Day One

7:15 Coffee and Continental Breakfast

7:45 Chairperson's Remarks

10:45 Building a Win-Win Relationship in Licensing Deals
· Setting up expectations prior to a deal
· How to clearly define the role of each company
· Applying new processes and technologies to a new joint venture
Nancy Wilkerson, Manager, Business Development Marketing, Eli Lilly & Co.

11:30 Collaboration "Auctions" - Managing Expectations and Timing
Many biotech companies dream of being in a situation where there are multiple potential partners lining up for an opportunity. As good as that sounds, the situation is fraught with downsides as well as the apparent upsides. Is this an effective way to create the best partnership or is this just a way to create some not-so-great impressions on both the part of the "loser(s)" and even the "winner?" Actual situations will be discussed by a fellow who found himself in the middle more than once.
Jack Anthony, Senior Vice President, Business and Commercial Development, Tularik Inc.

12:15 Networking Luncheon

1:30 Successes and Failures in Biotech Deal Doing - The Good, The Bad, & The Ugly
What can be done when a deal doesn't work out as expected? Whether products fail or time simply runs out, alliances sometimes fail. Terminated alliances are often a windfall for the developing party, as rights revert and re-partnering ensues. This presentation will focus on the successes and failures of biotech alliances - what went right/wrong, and could it have been changed?
Michael G. McCully, Senior Business Development Analyst, Recombinant Capital, Inc.

2:15 The Partner of Choice: What Qualities and Technologies are Pharma Companies Seeking in a Partner? · Understanding your own needs and what you should look for in a partner · Focusing on good communication and the managing of expectations · Variables used to assess the risk of a partnership · Assessing the techniques you should use to value your own product and that of the company you approach · How to turn a research project into a profitable product Bart Kwist, former Senior Vice President, Global Business Development, Pharmaceutical Sector, Solvay

3:15 Refreshment Break

3:30 Planning and Developing Confidential Scientific Packages that Maximize the Opportunity for Success
· The first step to a creating a winning venture
· How strong scientific packages can foster discussions
· The core components to a valuable scientific package
· Examples of scientific packages
  Frederick Jones, MD, MBA, Assistant Vice President, Technology Licensing, Wyeth Pharmaceuticals

4:15 How Pharma is More Flexible in the Deal Terms Today and What They Want in Exchange
· Up-front payments in today's deals
· Stock versus Cash
· Decision making as a shared process
· Sharing the risk
  Ann Kraft, Associate Director/Licensing & Acquisitions, Bayer Pharmaceuticals

5:00 Close of Executive Forum