Financing Retinal Innovation Panel At Ophthalmology Innovation Summit @ ASRS 2019

Watch the Financing Retinal Innovation panel at Ophthalmology Innovation Summit @ ASRS 2019.

Smaller investment firms that can’t afford to take a product through clinical trials can still support a product they believe in by making a small investment. If an investment group has relevant expertise, that may create another way to be involved. For larger firms unmet need is part of the criteria used to determine value. Companies with research in any stage can be considered, but having robust clinical data increases the comfort level. In highly competitive spaces early stage investing is more common. It’s critical that the management team understand the pathway to regulation and be able execute. Appropriate biomarkers can provide validation needed but they’re not yet defined in some areas. A product without a defined endpoint that looks good clinically may be a good investment as long as the path to regulation is clear. Clinical surrogates can also be looked at, which show some degree of validation. Negotiations should be had early to determine an FDA-validated endpoint. Exit strategies look at return on investment and timeline to monetize. IPOs may take longer than an acquisition but may realize more return. Typically companies look for 3 to 5 years, or 4 to 6 years, as goals for exit. Licensing partnerships with companies outside the U.S. can bring extra capital, but the unfamiliar environment can create challenges. It’s important to work with the right partner and determine all IP rights.

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The panel takes places at OIS@ASRS at the Ritz Carlton in Chicago on July 25, 2019.

Participants:
Emmett T. Cunningham Jr., MD, PhD, MPH, Senior Managing Director – Blackstone Life Sciences
Michael Keyoung, MD, PhD, Managing Director & Head, North America – C-Bridge Capital
Ash Khanna, PhD, Venture Partner – Pivotal bioVenture Partners
Firas M. Rahhal, MD, Partner – ExSight Ventures / Partner & Executive – Retina Vitreous Associates Medical Group
Ron Weiss, MD, Managing Partner – InFocus Capital Partners / Founder & Owner – Chicago Eye Consultants

Moderated By:
Pravin Dugel, MD – Retinal Consultants of Arizona