Presented in Upgraded Life Festival 31.5.2016 by Pekka Mattila, Desentum. http://www.upgradedlifefestival.com/

1. Biotech Startups in Finland –
Lost in Translation?
Pekka Mattila, CEO

2. 2.8.2016 2

3. Selvitys: Digitaalisuus, biopankit ja
tietovarannot suomalaisen
terveysalan keihäänkärjet
2.8.2016 3Source: Sitra, 2016

4. We Have a Solid Industry Base, but…
2.8.2016 4Source: FiHTA, 2015

5. Fundamental Disconnect
• Pools of investment capital are forming
around academic science
• Money needed to get those discoveries into
and through the clinic continues to lag
• U.S. investors are beginning to close the gap –
but only for companies with global ambition
2.8.2016 5Source: Bioequity Europe 2016, Fishburn and Schaeffer

6. Fundamental Disconnect
2.8.2016 6Source: Sorvisto, 2015
?

7. Average Investment per Round
2.8.2016 7Source: Bioequity Europe 2016, Fishburn and Schaeffer; Sorvisto, 2015
Finland average:
0,6-0,8 m€

8. 2.8.2016 8
”Markkinaym
merkityksellisi
kartuttamiseen
panostaa jo en
aloittamista.
Sen rakentami
on ratkaisevan
kaikki liiketoim
päätökset tulis
markkinaymm
Tästä syystä s
kartuttamisen
eikä sitä voi u
Sorvisto (2005)
Source: CB Insights (2016)

9. Startups are not successful simply because
they are founded with great ideas.
What's important is the execution and
putting in place the right people and
resources early on - to shape the
core values and mission of the enterprise.
2.8.2016 9

10. Share of Global Capital –
EU is Left Behind
2.8.2016 10Source: BCIQ, BioCentury Online Intelligence

11. Private Financing is Increasing
2.8.2016 11Source: BCIQ, BioCentury Online Intelligence

12. Especially for Clinical Companies
2.8.2016 12Source: BCIQ, BioCentury Online Intelligence

13. Questions Needing Answers
• What’s needed in Europe (Finland) to get more U.S.
Investor representation?
– Local lead investors
• The investors close to you are more likely to
invest than those farther away
– Help startups with DD process / documentation
2.8.2016 13

14. Questions Needing Answers
• What’s driving the influx of money for translation?
– Genuine, well drafted IP
– Success
– Location
2.8.2016 14

15. Questions Needing Answers
• What will it take beyond the money to turn
scientific discoveries into products for patients?
– TEAM
– Execution
– Commitment / Passion
2.8.2016 15

16. Additional Hallmarks of Ambition
• Serial entrepreneurs with success
• Pharma experience
• U.S. Office – go where the market is
• Cornerstone European (Finnish) VC
2.8.2016 16

17. Nickel Mine vs. Gold Mine
2.8.2016 17
Thank you