2000 6 26 1976 IPO FDA 1 25 10 1
CEO CSO Scientific Advisory Board IPO M&A 2000 3 1/3 IPO IPO M&A IPO 2002 12 333 1998 60 2001 1,457 2
342 ExitIPO M&A 20 R&D 3
---------------------------------------------------------------------------------------------------------------- 5 ------------------------------------------------------------------------ 7 1. 2. 3. ---------------------------------------------------------------19 1. NIH 2. 3. 4. VC 5. 6. Scientific Advisory Board 7. CRO 8. 9. NASDAQ 10. FDA 11. 2 3 ------------------------------------------------------------43 1. www.amgen.com 2. M&A ---------------------47 1. www.medicinova.com 2. 200405 IPO 3. ------------------------------------51 ---------------------------------------------------------------52 4
2002 12 1 5 50 2010 25 2001 1 3,000 2 1998 2003 3 3,000 2002 1 21 20 IT IT 20 3 2000 6 26 4 1 2002 7 21 2 52 21 20 2 10 3 2003 4 14 6 1986 2005 1991 6 24 28 6 1 99 59 31 6 4 1998 2000 1 90% 5
5 2005 2003 2 5 3 6
1 1 2000 10 2001 9 The Global Biotechnology Report 2002, ERNST & YOUNG 6 6 7
TLO CEO CEO CSO Scientific Advisory Board IT 7 2 The Global Biotechnology Report 2002, ERNST & YOUNG 2001 1,457 1 1 2 2002 8
12 333 1,457 342 20 8 3 FDA 6.5 1.5 2.0 3.5 1.5 20-80 100-300 1,000-3,000 15 5,000 5 1, JETRO 2002 3 FDA 3 FDA FDA 1 25 10 7 8 5,000 FDA 1 1 9
9 1020 3050 6075 3 FDA 1 20 20 FDA 10 10 10 4 9 FDA CT 25 11.5 1020 3050 10 1996 4 17 100 10
2000 2003 4 17 1,425.50 2000 3 1/4 11 2003 4 17 522.58 2000 3 1/3 4 IT FDA IPO IPO 2000 68 2001 6 5 5 IPO Biotechnology Industry Organization 11 2003 4 17 72 2 10 1 100,000 2 1 2 1 7.5 1 50,000 11
VC IPO IPO VC IPO VC VC 2002 4 2000 1 86 2000 3 61 6 VC IT VC 12 VC 6 Money Tree Survey, PricewaterhouseCoopers VC 12 VC 2000 1 4.0 2002 4 11.4 12
IPO IPO M&A IPO 2002 9 11 2002 10 11 7 ES 2002 6 30 43 2003 1 40 140 60 2002 12 4,700 2001 4,210 2 ES ES M&A R&D VC 13
7 2002 10 Onyx Pharmaceuticals 95 25 ONYX-015 2003 1 ONXX/ Bayer BAY 43-9006 BAY 43-9006 Raf 2003 3 2003 1 2002 12 2002 11 2002 11 2002 10 2002 10 2002 10 Geron 29 40 GERN/ 2002 12 31 4700 Applied Biosystems 400 9 2003 2 NY ABI/ 4000 Maxygen 1030 MAXY/ 80 CuraGen 25 128 CRGN/ 4 OSI Pharmaceuticals 8 40 OSIP/ IntraBiotics 70 27 9 IBPI/ Iseganan hydrochloride 3 Cell Pathways 81 61 Aptosyn CP461 CLPA/ Bio Business News 13 8 13 VC IT 14
+ NIH 8 2001 The Global Biotechnology Report 2002, ERNST & YOUNG UCSF 15
UCB 1976 EX- OB IT IT IT 16
UCSD 1979 14 UCSD 2 1986 Eli Lilly & Co. IDECGen-ProbeProgenix IDECGeneSys TherapeuticsCorixa IDEC EX- UCSD CONNECT 15 16 17 3 14 15 UCSD 1985 16 17 17
MG 18
1976 9 VC IPO FDA 9 18 Phase Phase Phase VC MG 18 IPO 19
97 21 NIH NIH 1998 NIH 2003 3 3,000 273 4,400 14 7 1 10 NIH Research Grant 2001, JETRO 2003 1 NIH NIH NIH NIH 80 70 1020 5 23 NIH 20
10 NIH NIH NIH 1 NIH DC NIH SBIRSmall Business Innovation Research 19 SBIR 500 SBIR 3 1 10 6 2 75 2 20 NIH 2000 1,629 3 5,340 1 SBIR VC VC 21 19 Challenge Investment Program Enterprise Investment Fund STAR Bio Star Project 20 SBIR 13 FDA SBIR 1 2 1 3 SBIR 21 20 20 FDA 10 10 21
22 23 TLO 1980 11 TLO TLO 15 1/3 1/3 11 TLO TLO 22 23 1987 Genetics Institute EPO Genetics Institute 22
NIH 1980 TLO 10 TLO 90 2000 TLO 10 TLO (1) 24 (2) (3) Licensing Officer 25 26 27 (4) (5) (6) TLO CEO VC TLO UCSD TLO 24 25 26 exclusive non-exclusive 27 23
3 4 12 2001 2002 Report on California s Biomedical R&D Industry, California Healthcare Institute 28 28 The Scripps Research Institute The Salk Institute 24
29 30 VC VC 30 1 10 3 VC 56 2030 1 VC VC 29 Conflict of Interest 30 Conflict of Commitment 25
CEO CEO VC VC VC IPO M&A IPO M&A 1 Scientific Advisory Board 1 25 VC 1314 1976 UCSF DNA 26
13 1999 7 2000 6 The Global Biotechnology Report 2002, ERNST & YOUNG 14 2001 1 2001 12 The Global Biotechnology Report 2002, ERNST & YOUNG 27
VC VC VC 1 VC 800 250 30 45 VC Scientific Advisor Scientific Advisor VC 1 500 1,000 Scientific Advisor 28
31 VC VC VC 912 3 VC VC VC VC CEO CEO CSO VC VC Preferred Stock 32 VC 270 CEO VC 2030 31 VC NPV 32 Common Stock Preferred Stock 2 VC 29
VC A B C B C A VC VC VC 10 23 1 VC IPO M&A VC IPO M&A IPO VC 10 35 VC VC 3 VC 1 34 1 30
15 2005 3 VC 15 2001 296 The Global Biotechnology Report 2002, ERNST & YOUNG 33 VC VC VC 34 VC VC Ph.D. M.D. MBA VC 33 A 100 300 3 2001 296 34 VC VC (Limited Partnership) VC General Partner VC VC 31
VC 10 VC VC VC VC VC 16 2002 4 Money Tree Survey, PricewaterhouseCoopers 27 CEO VC 32
VC CEO CEO CSO CEO VC VC CEO CSO Scientific Advisory BoardSAB VC CEO MBA CEO CEO VC B 100 CEO CFO 100200 CEO CSO CSO 10 IPO CEO CEO FDA Scientific Advisory BoardSAB 46 SAB CEO CSO SAB VC CEO SAB SAB SAB 33
SAB SAB SAB SAB SAB SAB CROContract Research Organization CRO CRO CRO FDA CRO 1970 CRO 1980 CRO CRO CRO 500 CRO 30 17 CRO CRO CRO CRO CRO 34
CRO CRO 50 CRO CRO CRO 35 17CRO 1970 500 1990 50 2880 2000 3000 5 150 5 3040% 58% 2002 6 18 36 MG CRO CRO CRO 37 1980 CRO 35 CRO 1997 Good Clinical Practice CRO 36 1996 37 CRO 50 MG HP www.catalystpharm.com 35
CRO Catalyst Pharmaceutical Research LLC, Dr. Richard AnthonyCEO 38 38 1990 199095 199598 Alpha Therapeutic Corporationwww.alphather.com 1998 CRO Catalyst Pharmaceutical Research LLC 2003 JETRO 36
FDA 1 6000 18 18 2001 The Global Biotechnology Report 2002, ERNST & YOUNG 37
19 19 39 VC 39 IDEC 20 IDEC Rituxan IDEC IDEC 38
1 M&A M&A M&A M&A IPO M&A M&A 2001 1,457 342 20 1983 7 3 NASDAQ IPO 1 VC IPO IPO IPO 2 2 1,800 1 20 VC 39
IPO VC 20NASDAQ 1 2 3 600 1,800 7,500 7,500 7,500 100 3 2 40 110 110 110 2 800 1,800 2,000, NTT IPO IPO IPO VC IPO VC IPO 40 10 40
FDA 6075 3050 1020 34 IPO 1 FDA IPO IPO IPO 21FDA 19822002 Biotechnology Industry Organization FDA FDA FDA Jane E. Henney 2001 1 FDA 21 2002 11 Mark B. McClellan FDA McClellan 41
FDA 10 2 3 7,000 2000 21.5 13.5 2 M&A 42
20 4,016 1,120 7,682 2001 22 24 25 22 1982 2001 Annual Report 1980 UCLA 1983 43
IPO 84 87 89 FDA 1989 91 FDA 1994 2001 9 11 2002 1 2002 7 23 23 1980 Applied Molecular Genetics 1981 1983 1984 1987 EPOGEN 1989 EPOGEN 1991 NEUPOGEN 1992 10 500 1993 1994 1997 INFERGEN 2001 ARANESP KINERET 2002 NEULASTA 2001 12 Immunex 42 2002 7 160 100 20 2001 12 41 1 30 42 8 44
2000 6 5,200 2004 15 2001 11 FDA 24 2003 4 18 Yahoo Finance MA Novantrone Leukine 45
46
MEDICINOVA CEO 1989 MIT Sloan School MIT CEO IPO 2000 10 1,000 3 1 2 25 25 MN-001 Store-Operated Calcium Channel Modulators Vascular Targeting Agents ( Angiogene ) Pharmaceuticals (UK) Ltd. 5 43 44 CRO FDA 43 5 2 12 44 47
26 JAFCO Avigen CEO USA Kenneth W. Locke, Ph.D. USA Hoechst 27 Scientific Advisory Board Ronald A. Simon, M.D Adjunct Professor, Dept. of Molecular & Experimental Medicine, The Scripps Research Institute Carl F. Ware, Ph.D. La Jolla Institute of Allergy and Immunology Adjunct Professor of Biology, University of California, San Diego Director JAFCO Avigen IPO M&A IPO 200405 IPO IPO 2004 1 1 4 48
2000 10 2002 3 111 45 1 1 U U U 45 111 77 14 10 8 2 46 OB MBA 1981 1997 VC 49
MEDICINOVA, CEO 47 Maximize 47 1981 198189 198384 89 1989 MIT Sloan School 91 MBA MIT MIT MBA 199194 19942000 2000 10 2000 02 USA CEO 2001 50
2002 12 333 1998 60 ExitIPO M&A 20 R&D 51
University of Southern California, School of Medicine MediciNova, Inc. President and CEO ProSpine, Inc. President and CEO JAFCO Life Science Investment Officer Bio-Xcelerator K.K. President and CSO Catalyst Pharmaceutical Research LLC Dr. Richard AnthonyPresident and CEO, University of Southern California, Keck School of Medicine Mr. Pablo ValenciaDirector University of California, San Diego, Technology Transfer Office Dr. Alan S. PaauDirector University of California, San Diego, CONNECT Ms. Carolyn LeeDirector, Mr. Bob BensonManager IDEC Pharmaceuticals Co. Dr. Roland A. NewmanSenior Director, Business Development, Mr. Vince ReadonDirector, Corporate Communications Stanford University, Office of Technology Licensing Mr. Jon SandelinSenior Associate, Ms. Sally O NeilManager, Industrial Contracts Catellus Urban Development Corporation Mr. Michael W. MonroeSenior VP The Global Biotechnology Report 2002, ERNST & YOUNG Money Tree SurveyPricewaterhouseCoopers Amgen Annual Report UC Technology Transfer Annual Report 2001 (University of California, Office of Technology Transfer) AUTM Licensing Survey FY2000 (Association of University Technology Managers, Inc.) Editors and Reporters Guide to Biotechnology 2001-2002 (Biotechnology Industry Organization) 2002 Report on California s Biomedical R&D Industry California Healthcare Institute,,,,H&I DNA, 52
21,SCI, 2001, NTT, 2000 8 5,2003 3 1 6 18, 2002 12 6 (JETRO, 2001 3 ) 3 ) 1 JETRO,2003 1 333,2003 1 31, 2001 5 2002 3 Biotechnology Industry Organization (http://www.bio.org) PricewaterhouseCoopershttp://www.pwcmoneytree.com/moneytree/index.jsp NASDAQ http://www.nasdaq.com/ Yahoo Finance http://finance.yahoo.com/ Bio Business News http://www.bb-n.com/ Amgen Inc.http://www.amgen.com/ MediciNova, Inc.http://www.medicinova.com/ Catalyst Pharmaceutical Research LLC http://www.catalystpharm.com/ University of California, Office of Technology Transfer (http://www.ucop.edu/ott/) University of California, San Diego, CONNECT (http://www.connect.org) 53