***NOTE: THIS COURSE
DESCRIPTION IS FROM PAST SEMESTER (SPRING 05), AND REPRESENTS OUR MOST CURRENT
VERSION FROM MORRILL and ADAMS. WE WILL UPDATE THIS COURSE DESCRIPTION IF WE
RECEIVE A NEWER VERSION.***
COURSE
NUMBER: MBA290T.1* Cross listed with
COE, SIMS
COURSE
TITLE: Entrepreneurship in Biotechnology
UNITS OF
CREDIT: 2
INSTRUCTORS: Todd Morrill, Wendy Adams
E-MAIL
ADDRESSES: morrill@haas.berkeley.edu, wendy@rukadams.net
CLASS WEB
PAGE LOCATION: Catalyst
MEETING
DAY(S)/TIME: Thursday 4:00-6:00 PM
PREREQS: MBA Core curriculum or permission of an
instructor
CLASS FORMAT: Introductory lectures, industry guest expert
lecturers, case studies, and in-class analysis of strategies and tactics
relevant to the industries. As a final
project, groups or individuals will prepare a business plan for a new life
science-based venture: biotech, biomedical device, health services, etc.
REQUIRED
BASIS FOR GRADE:
Grades will be based on class participation (est.
20%), qualitative and quantitative work done
between classes (est. 30%), and the final
project – a business plan for a new life science-based company (est. 50%). Students in this course are from the MBA
program in its various forms, Engineering, Public Health, and often UCSF and
Molecular and Cell Biology. Final
project teams are multidisicplinary, and call heavily
on the breadth of expertise of the team members. Instructors will help teams find projects.
ABSTRACT OF
COURSE'S CONTENT AND OBJECTIVES:
The Haas Entrepreneurship in Biotechnology class will
provide students an introduction to the complexities and unique problems of
entrepreneurship in the life sciences – and is designed for both entrepreneurs
and students who may someday work in a small life science-based company. Students will be exposed to the topics most
critical to successfully founding, financing and operating a life science
company, and will be expected to perform many of the tasks which founders would
normally undertake. We will use interaction with life-science entrepreneurs,
case studies of recent companies, and hands-on work developing entrepreneurial
endeavors.
The first classes will provide an overview of the
industry based on current trends and those of the past 20 year, and on opportunity
recognition – which ideas make for viable companies – and how ‘good’
opportunities have changed over time.
The middle section of the course will focus on functional and
operational issues facing small life science companies: financing, working with venture capitalists,
operational focus, patents and other intellectual property, business
development and strategic partnering, marketing, etc. The final portion of the course will be
oriented to the preparation and presentation of the final projects. Well in advance of the project’s final due
date, teams will be asked to provide a written Executive Summary and one or
more ‘elevator pitch’ oral presentations of their company. These graded exercises will help teams
understand the strengths and weaknesses of their new venture, and prepare a
better written plan.
This class is appropriate for
students who would like to start their own enterprise, and just as importantly,
those who believe that they may work someday in a small life science-based
company. In both cases, you will learn
what drives the start up and on-going operations of these fascinating and
exciting enterprises.
BIOGRAPHICAL
SKETCH:
Todd Morrill leads Acquisitions and Business Development for the Life Sciences
Group at Bio-Rad Laboratories. In the past few years he has run several
successful biotechnology and software companies, including IO Informatics and
Trellis Bioscience. From 1995 to 2001,
Todd was Managing Director of the Venture Merchant Group (Life Sciences
Merchant Banking) and Burrill & Company, working
with the biotechnology, pharmaceutical, nutriceuticals,
and broader life science industries. His partnering, M&A, spinout, and
startup experience includes more than 25 transactions with major healthcare
companies and many additional biotech, emerging pharmaceutical,
and tools-based companies. He has built shareholder value for client and
portfolio companies by unlocking and capturing the value of effective,
well-designed, and long-lasting strategic partnerships, M&A, and by
creating new value in NewCos and startups. Todd has worked at a number of biotech
companies in general management, project management, sales and marketing, and
R&D. He was graduated from
Wendy Adams is currently an independent consultant for companies in the
biotechnology and medical technology fields. Prior to launching her consulting
practice, Wendy was Director, Corporate Development at Aviron,
where her responsibilities included strategic and tactical components of
corporate partnering activities, technology assessment, M & A evaluation,
and deal negotiations. Prior to Aviron, Wendy worked
for Cowen & Company pursuing corporate finance and strategic advisory
assignments for clients in the biotech, medical device, and healthcare services
industries. Wendy has also worked for Hewlett-Packard, Alex. Brown & Sons, and Genentech. Wendy
received her undergraduate degree from