Investment Opportunities to Watch in Biotech
Wednesday, July 13, 2016 – 1:00 PM ET
Biotechnology companies have faced turmoil in the public markets in the first several months of the year amid concerns about pricing, growing global macroeconomic and political uncertainty, as well as public outrage around companies the likes of Valeant. Even so, large pharmaceutical companies such as Pfizer and AbbVie have continued to bet on smaller biotech companies. And while IPO activity hasn’t matched the robust level of public debuts seen in 2015, all 10 public offerings in the first quarter of the year were in the healthcare industry--four of which were in the biotech sector and the remaining six in the pharmaceutical sector. As the valuations of biotech companies continue to suffer, is now the time for large pharma players to snap up assets in the space?
While oncology undoubtedly remains a hot area amid the battle for cancer treatment company Medivation, what additional therapies are consolidators likely to go after? Does a slower pace of IPO activity mean more venture-backed and crossover-funded biotech companies will look to exit by means of a sale? How are valuations and M&A activity being impacted by uncertainty around an election year?
Director of Business Strategy, Venue Virtual Data Room
Daniel Perez is Director of Business Strategy for RR Donnelley's Venue virtual data room platform, with responsibility for the strategic marketing and branding direction for Venue globally. Daniel has been with RR Donnelley 4 years, and prior to joining RRD, he worked at both NBC Universal and BBC America in the digital media and marketing divisions in New York. Prior to moving to New York, Daniel worked both as in-house and agency marketing roles in Las Vegas, as well as executive producing a television series for the City of Las Vegas. Mr. Perez holds a Bachelors Degree in Business and Psychology from Pepperdine University and a MBA from the Gabelli School of Business at Fordham University.
Yuval Cohen, Ph.D.
Chief Executive Officer
Yuval Cohen, Ph.D., is co-founder and Chief Executive Officer of Corbus. Prior to joining Corbus, he was the President and co-founder of Celsus Therapeutics (Nasdaq CLTX). Since founding Corbus in 2014, he has led the company to its public listing on the Nasdaq and raising $37MM from its investors as well as being awarded a $5MM award from the Cystic Fibrosis Foundation and two clinical trial awards from the NIH.
Apart from his industry experience, he is also the author of a number of peer-reviewed papers and reviews as well as listed inventor on a number of patents. Dr. Cohen has a Ph.D., summa cum laude, from the Curie Institute of Cancer Research in Paris and the University of Paris V. He attained a Bachelor of Science (Honors) from the University of Cape Town (South Africa).
David S. Rosenthal
David S. Rosenthal, co-chair of Dechert’s Global Corporate Finance and Capital Markets Practice, represents publicly and privately held corporations, investment banks, and venture capital firms focused on the life sciences and medical device, technology, media, and other growth sectors. He represents clients in corporate finance transactions, mergers and acquisitions, joint ventures, licensings and strategic alliances. Mr. Rosenthal regularly advises issuers and investment banks in public and private offerings of equity and debt, including IPOs, secondary offerings, confidentially marketed public offerings (CMPOs), at-the-market (ATM) financings, registered direct offerings, and PIPEs, as well as seed financings and later-stage venture capital financings. He also has particular experience counseling foreign private issuers in migrating to and listing on the U.S. stock exchanges.
Mr. Rosenthal has also represented buyers and sellers in leveraged and unleveraged mergers, acquisitions, and private equity transactions as well as divestitures and dispositions of business and subsidiaries. In addition, he represents venture capital and private equity firms in their investment activities, as well as in their internal organizational issues. He also counsels clients in general corporate matters, SEC compliance, and corporate governance, and often acts as outside general corporate and securities counsel to both emerging and publicly traded companies.
Mr. Rosenthal has been recognized for his work in the capital markets: equity and global offerings areas by The Legal 500 (U.S.), where he is regarded for having “an active life sciences roster” and “an immense depth of industry and transactional knowledge in the healthcare sector” with “clear and well-reasoned positions” and a “business-minded approach."
Peter C. Day
Managing Director, Healthcare Investment Banking
Peter Day is a managing director and Head of East Coast Biotech investment banking, having joined Piper Jaffray in 2012. He has more than 17 years’ experience in biopharma investment banking executing private and public capital raisings, buy- and sell-side mergers, acquisitions and partnership transactions, as well as convertible debt financings.
Prior to Piper Jaffray, Day spent 11 years at Leerink Partners where he was a managing director and one of the earliest members of the investment banking team. Previously, Day was an investment banker at William Blair & Company focused on mergers and acquisitions. During his career, he has completed well over 100 transactions, including raising over $2.5 billion in equity capital for life science companies and advising on M&A transactions with an aggregate value of nearly $5 billion.
Day received a Master of Business Administration degree from the Kellogg Graduate School of Management at Northwestern University and a bachelor’s degree from Denison University. Prior to business school, he was a risk management consultant at Aon Risk Services. Day is also a board member and financial officer of the North Suburban YMCA of Boston.