Modules

Module 1 The basics of strategic funding: market trends and financial statement analysis

This module will set the scene for biopharma strategic funding, by diving into market trends and financial statement analyses.

During the morning session, prof. dr. Eric Claassen, who is a seasoned sequential entrepreneur, professor, and senior executive advisor at Raymond James will discuss market trends, drivers and opportunities within the life sciences industry. After this session you will be able to explain exactly why the biopharma market differs from traditional markets in terms of financing.

Following that, two financial experts, Associate Professors Marc Schauten PhD and Arjen Siegmann PhD, will explain all there is to know about financial statement and how to analyse them. At the end of the day you will know all there is to learn from financial statements and understand how to read and interpret balance sheets, profit and loss statements and cash flow statements.

Module 2 Negotiating a deal: smart calculations, the time value of money, and deal terms

This module will enable you to evaluate financial feasibility for growing companies.

In the morning session, you will dive further into the financial statement analyses of module 1 and conduct smart calculations that will allow you to understand whether a project or company is financially viable. Associate Professors Marc Schauten PhD and Arjen Siegmann PhD, in an interactive session, will teach you all the tips and tricks of Microsoft Excel so you will be able to conduct these analyses for any project or company you encounter.

In the afternoon, entrepreneur Judith Smit PhD, Managing Partner at the Strategic Financing firm FFUND bv, will divulge all the tips and tricks on how to finance early stage ventures. She will touch upon different forms of financing, so at the end you will be able to apply the dilutive and non-diultive funding mix to your company.

Module 3 Financial feasibility: capital budgeting, financing of early stage ventures and getting new products reimbursed

The third module will dive into the world of investors. At the end of this module you will thoroughly understand why the profits in pharma need to be high to account for the time value of money.

Continuing with the Microsoft Excel spreadsheets designed in previous modules, in the morning session, Associate Professors Marc Schauten PhD and Arjen Siegmann PhD will discuss investment risks and the cost of capital, and how to apply them in capital budgeting.

The afternoon is reserved for Harm de Vries, Partner at a Dutch VC investment firm and author of the book “Venture Capital Deal Terms”. On the basis of his book, he will first discuss the most often used venture capital deal terms, and the most overlooked clauses. In a workshop setting, you will work on a tailored case to understand how these terms work in practice.

Module 4 The impact of risk and return: cost of capital and valuation by VCs

Now that you understand the time value of money and the cost of capital, this module will dive into the impact of what this means for strategic decision-making.

First, Associate Professor Arjen Siegmann PhD will dive into scenarios and the use of real options in biotech investment. That will shed light on when it may be better to wait with investing.

In the afternoon, Bart Bergstein, former Managing Partner at a Dutch VC Investment firm and board member of numerous biopharmaceutical companies, will discuss his experiences with valuation by venture capitalists, allowing you to ask all the questions on process and content that you are now able to ask, after having followed the previous modules.

Module 5 Valuating your company: your approach and industry-specific margins

The fifth module brings you back to the tactics of valuation for your own context.

In the morning, Matteo Millone PhD, credit risk specialist at the Dutch Central Bank and the European Central Bank, will discuss different valuation techniques for the firm, and how you can apply them to determine the value of a company.

In the afternoon, we will share insight into how to scale up sensibly; balancing R&D with sales & marketing in the life sciences industry. Next, prof. dr. Eric Claassen will detail industry-specific costs, revenues, margins and risk profiling that will enable you to conduct financial calculations for the life sciences sector.

Module 6 Securing an exit: perspectives of investment bankers and valuation of M&A deals

In module 6 we will continue our analysis of valuation, but take it to the area of exits.

In the morning, Matteo Millone PhD returns to dive into the details of better understanding how much your company is worth and to evaluate whether it is financially interesting to invest in a project.

Following that, Jan de Kerpel, co-head corporate finance at Kempen & Co will shed light on how investment bankers valuate companies in order to get to an exit.

Module 7 Get active: understanding and applying 24 financing modalities while optimizing your fiscal position

The final module ends with an action perspective. Two experienced entrepreneurs share with you their stories about what worked for them.

First, Yves Prevoo, founder of Easee will share his journey of finding the right capital for the growth of his online eye testing platform, and how that impacted his company. Second, Simon Douw will share his experience in the field of crowdfunding to discuss to what extent crowdfunding can serve as an alternative to conventional financing mechanisms.

And finally, prof. dr. Eric Claassen will bring together all the content of the course in an overview lecture, discussing the different financing modalities for the firm, how to understand and apply them. He will end with actionable recommendations on how to continue with your life sciences venture.