Financing Biotech Innovation
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Recommended experience
Recommended experience
What you'll learn
Comprehensive understanding of what drives investor decisions
Evaluating different sources of venture financing
Mastering the financing process including negotiating terms and the business valuation
Effective communication & presentation of a business idea
Details to know
See how employees at top companies are mastering in-demand skills
There are 8 modules in this course
To harvest the enormous potential of ground-breaking research in the field of biotechnology, large amounts of financing are needed. From the first lab results to a commercially viable product, many years go by, and much money is burned. Thus, financing is the key to making biotechnology innovations accessible to everyone.
By the end of this course, you will have the confidence to talk to and convince investors to fund your endeavor. To do so, the course offers an introduction to financing and discusses the different motivations of those involved in financing. It will also enable you to evaluate different sources of financing. Moreover, it will establish an understanding of the challenges faced during the fundraising process, such as valuing a company, the legal aspects of an investment contract, or pitching your company to investors. Thereby, it will provide you with the confidence of managing the fundraising process and communicating your project effectively to any type of financial backer.
What's included
3 videos4 readings1 assignment
3 videos•Total 12 minutes
- Welcome•7 minutes
- Introduction to the Technical University of Munich •3 minutes
- The Journey from Lab to Market•2 minutes
4 readings•Total 16 minutes
- Structure of the Course & Grading•5 minutes
- Support & Discussion Guidelines•5 minutes
- Meet & Greet•5 minutes
- Practice Quiz - Did you pay attention :-) ?•1 minute
1 assignment•Total 5 minutes
- Practice Quiz•5 minutes
What's included
10 videos11 readings4 assignments1 peer review
10 videos•Total 68 minutes
- Introduction to Start-Up Financing•6 minutes
- Staged Investing•4 minutes
- Investor Input: Staged Investing•3 minutes
- The Investors' Perspective Part 1•8 minutes
- The Investors' Perspective Part 2•6 minutes
- The Entrepreneur's Perspective•13 minutes
- Dilution explained•8 minutes
- Biotech Funding Properties•8 minutes
- Expenses•6 minutes
- Revenues•5 minutes
11 readings•Total 46 minutes
- What this Module is About•1 minute
- Financing Terms You Need to Know•10 minutes
- The Investor's Perspective•1 minute
- Calculating Company Value, Share Price and No. of Shares•5 minutes
- Practice Quiz - What have you learned?•1 minute
- Considerations Before Raising Capital•10 minutes
- Key Performance Indicators•1 minute
- Practice Quiz•1 minute
- Wrap-Up of the Module •5 minutes
- Module Resources: Get the Slides•10 minutes
- Graded Assessment - Announcement•1 minute
4 assignments•Total 105 minutes
- Practice Quiz•10 minutes
- Simulated Peer Interview Task: Financial Planning Reflection•45 minutes
- Practice Quiz•5 minutes
- Graded Assessment•45 minutes
1 peer review•Total 60 minutes
- Peer Interview Exercise: Charting the Roadmap – Milestones and Metrics•60 minutes
What's included
14 videos22 readings5 assignments1 peer review
14 videos•Total 81 minutes
- Sources along Financing Stages•7 minutes
- Investor Input: Challenges Biotech Financing•1 minute
- Founders, Family, Friends and Fools•8 minutes
- Public Funding•8 minutes
- Crowdfunding & Crowdinvesting•9 minutes
- Angel Investments•8 minutes
- Venture Capital•9 minutes
- Expert Input: What Differentiates Investors•4 minutes
- Corporate VC Investors and Partnerships•7 minutes
- Philantrophy, Family Offices, Patient Advocacy Groups•5 minutes
- Stock Market Financing•8 minutes
- Founder Input: Financing Stories (Dr. Sylvia Wojczewski | BioSpring)•3 minutes
- Founder Input: Financing Stories (Dr. Erich Tauber | Themis Bioscience)•3 minutes
- Founder Input: Financing Stories (Dr. Manfred Gröppel | Immunic Therapeutics)•2 minutes
22 readings•Total 123 minutes
- What this Module is About•3 minutes
- Introduction—Sources of Financing•5 minutes
- Types of Equity•5 minutes
- Practice Quiz•1 minute
- Public Grants for Biotech Ventures•10 minutes
- Biotech Angel Investors•10 minutes
- Practice Quiz Instructions•1 minute
- Top Biotech VC Investors•5 minutes
- Strategic Partnerships•10 minutes
- Patient Advocacy Group Investment - An Example•5 minutes
- Practice Quiz Instruction•1 minute
- Private Equity•10 minutes
- Private Equity: Leveraged Buyouts (LBOs)•5 minutes
- Private Equity: Value Drivers•10 minutes
- Private Equity Investment Example•5 minutes
- Debt Financing•5 minutes
- Loan Agreement & Bonds•10 minutes
- Mezzanine Capital•5 minutes
- Founder Input: Financing Stories•1 minute
- Module Wrap-Up•5 minutes
- Module Resources: Get the Slides•10 minutes
- Graded Assessment•1 minute
5 assignments•Total 75 minutes
- Practice Quiz•5 minutes
- Practice Quiz•10 minutes
- Practice Quiz•5 minutes
- Practice Quiz•10 minutes
- Graded Assessment•45 minutes
1 peer review•Total 45 minutes
- Peer Review Assignment: Choosing the Right Type of Financing•45 minutes
What's included
13 videos19 readings5 assignments
13 videos•Total 75 minutes
- The Investment Process•5 minutes
- Screening Criteria of Investors•9 minutes
- What Investors Are Looking For: Dr. Sascha Berger (Partner TVM Capital—Life Science Venture Capital)•5 minutes
- What Investors Are Looking For: Dr. Christoph Massner (Healthcare Investor at Earlybird Venture Capital)•12 minutes
- Selecting an Investor•4 minutes
- Founder Input: What to Look For in an Investor•3 minutes
- Term Sheet Explained•5 minutes
- Economic Terms•13 minutes
- Control Terms•5 minutes
- Investor Input: Term Sheet Negotiations•5 minutes
- Legal Counsel- Dr. Christoph Massner•2 minutes
- Post-Investment Development•5 minutes
- Founder Input: Investor Relations (Dr. Marion Jung) | CEO ChromoTek GmbH, previously Investor at Earlybird Venture Capital)•4 minutes
19 readings•Total 83 minutes
- What this Module is About•5 minutes
- The Investment Process—An Overview•5 minutes
- Practice Quiz•1 minute
- Deal Origination•10 minutes
- Investor Input: What Investors Are Looking For•1 minute
- Due Diligence•10 minutes
- Practice Quiz•1 minute
- Legal Documents•5 minutes
- Term Sheet—further terms•10 minutes
- Term Sheet—HANDOUT•3 minutes
- Term Sheet Examples Links•1 minute
- Convertible Debt•10 minutes
- Legal Counsel•2 minutes
- Practice Quiz•1 minute
- Founder Input: Investor Relations•1 minute
- Practice Quiz•1 minute
- Module Wrap-Up•5 minutes
- Module Resources: Get the Slides•10 minutes
- Graded Assessment •1 minute
5 assignments•Total 60 minutes
- Practice Quiz•5 minutes
- Practice Quiz•10 minutes
- Practice Quiz •10 minutes
- Practice Quiz•5 minutes
- Graded Assessment•30 minutes
What's included
13 videos19 readings6 assignments
13 videos•Total 73 minutes
- What is Value?•5 minutes
- Valuation Challenges•6 minutes
- Overview: Valuation Methods•6 minutes
- DCF Method: Introduction•5 minutes
- Forecasting Cash Flows•6 minutes
- Discounting & Terminal Value•5 minutes
- Example DCF Explained•7 minutes
- Valuation by Comparables: Introduction•8 minutes
- Example Comparables Explained•4 minutes
- The VC Method: Introduction•6 minutes
- Example VC Method Explained•5 minutes
- Investor Input: How VCs Do Valuations•4 minutes
- Value Drivers•7 minutes
19 readings•Total 95 minutes
- What this Module is About•2 minutes
- Key Concepts Relevant for Venture Valuation•5 minutes
- Practice Quiz•1 minute
- Example DCF•5 minutes
- Entity vs. Equity Approach•15 minutes
- Cost of Capital Calculation•10 minutes
- Practice Quiz•1 minute
- Multiple Ratios—Some Key Considerations•10 minutes
- Example Valuation by Comparables•5 minutes
- Example Comparables Explained•2 minutes
- Practice Quiz•1 minute
- Example Valuation using the VC Method•5 minutes
- Example VC Method Explained•5 minutes
- Practice Quiz•1 minute
- Does Valuation Matter•10 minutes
- Practice Quiz•1 minute
- Module Wrap-Up•5 minutes
- Module Resources: Get the Slides•10 minutes
- Graded Assessment•1 minute
6 assignments•Total 70 minutes
- Practice Quiz•5 minutes
- Practice Quiz•5 minutes
- Practice Quiz•5 minutes
- Practice Quiz•5 minutes
- Practice Quiz•5 minutes
- Graded Assessment•45 minutes
What's included
12 videos15 readings3 assignments1 peer review
12 videos•Total 60 minutes
- Pitch Deck Content•7 minutes
- Succeeding in Your Pitch•6 minutes
- Pitching Advice: Dr. Christoph Massner (Healthcare Investor at Earlybird Venture Capital)•7 minutes
- Pitching Advice: Dr. Katrin Schmidthals (Co-Founder and VP Finance & Administration ChromoTek GmbH)•3 minutes
- Pitching Advice: Prof. Dr. Horst Domdey (CEO BioM Biotech Cluster Development GmbH and serial biotech entrepreneur)•2 minutes
- Preparing for Negotiations•4 minutes
- Core Negotiation Concepts•10 minutes
- Cultural Considerations•6 minutes
- Advice for Negotiating a Good Deal: Prof. Dr. Horst Domdey (CEO BioM Biotech Cluster Development GmbH and serial biotech entrepreneur)•2 minutes
- Advice for Negotiating a Good Deal: Dr. Manfred Gröppel (Co-Founder of Immunic Therapeutics)•1 minute
- Advice for Negotiating a Good Deal: Dr. Erich Tauber (Founder & CEO Themis Bioscience GmbH - acquired by MSD in 2020)•2 minutes
- Founder Input: rNPV Calculation for Negotiations•10 minutes
15 readings•Total 65 minutes
- What this Module is About•2 minutes
- Pitch Deck vs. Business Plan•5 minutes
- Expert Input: Pitching•1 minute
- Pitch Deck Templates•5 minutes
- Practice Quiz•1 minute
- Negotiations•1 minute
- Negotiation Tactics•10 minutes
- Negotiating Styles and Approaches•15 minutes
- Coming Up: Expert Input•1 minute
- Founder Input: rNPV Calculation (Gröppel)•2 minutes
- Further Resources: Negotiations•10 minutes
- Practice Quiz•1 minute
- Module Wrap-Up•5 minutes
- Module Resources: Get the Slides•5 minutes
- Graded Assessment •1 minute
3 assignments•Total 40 minutes
- Practice Quiz•5 minutes
- Practice Quiz•5 minutes
- Graded Assessment•30 minutes
1 peer review•Total 60 minutes
- One Minute Pitch•60 minutes
What's included
8 videos16 readings3 assignments1 peer review
8 videos•Total 40 minutes
- What is a Successful Exit?•8 minutes
- Investor Input: What Determines a Biotech Exit•5 minutes
- Trade Sale•7 minutes
- A Founder's Perspective on an Acquisition: The Road to Exit•4 minutes
- A Founder's Perspective on an Acquisition: Advice on Preparing for an Acquisition•2 minutes
- Advice on Preparing for an Acquisition: Staying with the Company after the Acquisition•1 minute
- Going Public•11 minutes
- Founder Input: Going Public•2 minutes
16 readings•Total 76 minutes
- What this Module is About•2 minutes
- Exit Options - An Overview•10 minutes
- To Pivot or Pass?•5 minutes
- Types of Pivots•5 minutes
- Practice Quiz•1 minute
- Exits in the Field of Biotechnology•5 minutes
- Mergers and Acquisitions (M&A)•5 minutes
- Initial Public Offering (IPO)•10 minutes
- The Trade Sale Process•5 minutes
- Founder Input: A Founder's Perspective on an Acquisition•1 minute
- The IPO Process•5 minutes
- IPO Markets•10 minutes
- Practice Quiz•1 minute
- Module Wrap-Up•5 minutes
- Module Resources: Get the Slides•5 minutes
- Graded Assessment•1 minute
3 assignments•Total 55 minutes
- Practice Quiz•5 minutes
- Practice Quiz•5 minutes
- Graded Assessment•45 minutes
1 peer review•Total 60 minutes
- Peer Assessment: Exit Example•60 minutes
What's included
2 videos2 readings
2 videos•Total 8 minutes
- Key Take-Aways from the Course•7 minutes
- Thank You!•1 minute
2 readings•Total 10 minutes
- Congratulations! You’ve Completed the Course!•5 minutes
- Class Central Course Review & LinkedIn Post•5 minutes
Instructor
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The State University of New York
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Technical University of Munich (TUM)
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Technical University of Munich (TUM)
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- Status: Free TrialU
University of Maryland, College Park
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