Bay City Capital – How to Profit from the Life Sciences Industry: Carl Goldfischer, Managing Director at Bay City Capital, shares his expertise on why private wealth managers should consider investing in life sciences.

1. IFG WEALTH MANAGEMENT FORUM
THE PREMIER EVENT FOR NORTH AMERICAN FAMILY OFFICES
October 24-25, 2011, Ritz-Carlton, Amelia Island, FL
www.ifgwealthmanagement.com
Bay City Capital –
How to Profit from the
Carl Goldfischer, Managing
Life Sciences Industry Director at Bay City Capital,
shares his expertise on why
private wealth managers
should consider investing in
life sciences. Bay City
Capital will be attending the
FOR IMMEDIATE RELEASE upcoming IFG Wealth
Management Forum 2011.
The life sciences industry holds great promise for IFG – What should investors take into account,
the future, but patience and having a broad view in order to successfully invest in this industry?
of the industry are key. Private wealth managers
must diversify investments across the industry Carl Goldfischer – It is important for wealth
and on products at various stages of their managers to invest with groups that are able to
lifecycle. Life sciences assets may not reap diversify their portfolios into different types of
instant results nor be suitable for portfolios with companies and products at various stages of the
short-term liquidity needs, but they are worth the product lifecycle, from discovery to
wait. Ahead of the IFG Wealth Management commercialization. Many venture firms are
Forum 2011 on Amelia Island, Florida, October confined to a strategy of solely investing in early-
24-25, Carl Goldfischer, Managing Director at Bay stage companies. We do our fair share of
City Capital, highlights the real value of life investing in early-stage innovation; however,
sciences assets in an investment portfolio. during times of market fluctuation, such as that
which we have experienced over the last few
IFG – How does the life sciences industry years, our investment strategy allows our team
compare with other industries? the freedom to invest in later-stage companies at
early-stage valuations. We also make a point of
Carl Goldfischer – Returns from life sciences investing solely in companies where our
assets are attractive over the long-term. Large operational, financial, and scientific expertise can
pharmaceutical companies have a significant benefit the management team and create value
number of blockbuster drugs coming off patent in over the long term.
the next few years and are therefore under an
enormous amount of pressure to fill their IFG – What asset allocation works best?
pipelines. Combined with the fact that they have
drastically cut funding for their own internal Carl Goldfischer – To succeed in this industry, it is
research and development projects, they are now important to maintain a broad view. It is difficult
forced to buy innovation externally. to predict which drugs will ultimately succeed,
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2. IFG WEALTH MANAGEMENT FORUM
THE PREMIER EVENT FOR NORTH AMERICAN FAMILY OFFICES
October 24-25, 2011, Ritz-Carlton, Amelia Island, FL
www.ifgwealthmanagement.com
therefore we pursue opportunities across the various life markets is five times that of the United States. Asset managers
sciences sectors – biopharmaceuticals, drug discovery, medical who understand the life sciences industry and developing
devices, diagnostics and tools – and across different stages of markets, and are able to be selective with their investments, will
product development. be successful.
It is also important to maintain a global perspective. Emerging IFG – Any final thoughts?
markets, such as China, provide a significant investment
opportunity in the life sciences. The Chinese government has Carl Goldfischer – Investing in life sciences requires patience. But,
launched a $125 billion initiative to overhaul its healthcare asset managers that use a diversified approach can provide
system. The expectations for growth in life sciences in emerging attractive returns for investors.
Salpi Balian, Press Manager – IFG, pressifg@ifgemea.com
The IFG Wealth Management Forum 2011
IFG’s Wealth Management Forum 2011 will take place at the Ritz Carlton, Amelia Island, Florida, October 24-25, 2011, and provides a
unique platform for investment decision makers from single and multi-family offices to engage in vibrant benchmarking sessions and
gain practical solutions and best practices to achieve optimal portfolio returns.
For more information please send an email to pressifg@ifgemea.com or visit the event website at www.ifgwealthmanagement.com
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Bay City Capital
Bay City Capital is a life sciences venture capital firm investing in opportunities across various life sciences sectors in companies at all
stages of development. Established in 1997, the firm has managed seven venture capital funds representing $1.6 billion in capital
commitments. Bay City Capital has invested in over 90 companies to date and is actively seeking new investment opportunities.
More information: www.baycitycapital.com
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