Harvard Business Case
Friday, 28 June 2024, 09:15 - 12:00
About Erik van den Berg | CEO, Memo-Therapeutics
Erik van den Berg serves as CEO at Memo-Therapeutics AG in Switzerland and previously was CEO at AM-Pharma from 2011 through 2023.
He is Chairman of Step Pharma and TargED Therapeutics, board member of AM-Pharma, co-founder and previous (executive) Chairman of Lava Therapeutics (NASDAQ: LVTX) and co-founder and previous (executive) Chairman of Heatmatrix Group (sold to BosNieuwkerk). He was board member of Lead Pharma and the Dutch biotechnology organization and core team member for the awarded €250M Biotech Booster Dutch Growth Fund grant.
As Senior Executive at Organon he was responsible for global biotechnology business development. Prior to joining Organon, Erik worked in business and corporate development at the biotechnology company IsoTis (SWX/Euronext: ISON - sold to Integra Lifesciences) and as a Management Consultant at Arthur D. Little.
Erik has executed over 20 transactions and partnerships, including a $600M alliance with Pfizer, $290M partnership with Kyowa Kirin and €500M in equity and debt financing for biotechnology companies from seed through IPO, including AM-Pharma’s €163M 2019/20 round and Lava’s $19M (A), $83M (B) and $101M (IPO).
Erik holds a Master’s degree in Chemistry from the University of Utrecht (NL) and an MBA from Manchester Business School (UK).
About Memo Therapeutics AG
Memo Therapeutics AG (”MTx”) is a late-stage biotech company developing best-in-class therapeutic antibodies to transform the lives of patients with virus infections and cancer. MTx’ lead program, Trapovitug, is a highly effective and well-tolerated neutralizing antibody to treat BK virus infection in kidney transplant recipients. This infection can lead to loss of kidney function, as well as organ failure and rejection. Based on its high-throughput antibody microfluidics screening platform additional therapeutic antibodies are being discovered, focusing on infectious diseases and immuno-oncology targets as well as a partnership with Ono Pharmaceutical.
Harvard Business Case
AM-Pharma is a biotech company developing a medicine for patients with acute kidney injury. The case describes the company's journey from inception in 2001 to a large deal with Pfizer in 2015. The aim is to discuss the value creation of AM-Pharma through its strategic decisions over time. It highlights the patient journey, company challenges, market size potential, and how the management team was able to raise multiple financing rounds from venture capitalists. It further provides the readers with a unique insight in the key risks and operational challenges of a biotech company and the value of an experienced management team backed by strong investors. The drug development process is inherently risky, long and expensive and the probability of commercializing a new drug is very low. The company's CEO is the protagonist and the case is split in three parts to provide the readers with surprises and open strategic questions which are time related. The case is semi-chronologically and a patient story is intermingled to provide a different perspective on clinical trials, ethical dilemmas and the high unmet medical need for new therapies. The case ends with a valuation simulation, in which the readers can negotiate the AM-Pharma/Pfizer deal themselves.
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