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FPG has been a pioneer in providing Corporate Partnering advice, principally to Biotech and emerging
Pharma companies, and remains a leader in this highly specialized field. The practice known as
"Corporate Partnering" is even newer than the Biotech Industry itself, and arises from the need to match
(a) the innovation and creativity of (usually) smaller and resource-poor Biotech companies with (b) the
financial muscle, regulatory and clinical development expertise and marketing capability of Big (and
even Medium) Pharma companies. Many studies exist which demonstrate that the research dollar spent
by the big/medium Pharma and Big Biotech companies has, on average, been significantly less productive
in developing new drugs than the equivalent amount spent on research by the Biotechnology industry.
Not surprisingly, most of the Pharma and Biotech majors have now accepted that they cannot rely entirely
on their own R&D efforts and that they must tap into the scientific expertise and creativity of the
Biotech sector which they can do either by outright Acquisition of a suitable Biotech or Pharma company,
or by entering into a contractual Corporate Partnering arrangement. Hence, these Pharma companies
(and Big Biotech) are receptive to the business initiations by FPG on behalf of its innovative clients from
the Biotech and Pharma worlds.
The Outward Corporate Partnering process involves, for FPG, a series of steps which can simply be summarized as follows
 | Discuss with the Biotech client company its financial and operating needs and objectives | | Prepare a list of carefully selected, prioritized potential partners | | Prepare a non-confidential information package which presents, in clear and persuasive language,
the client's science/technology, clinical development program and business objectives, together with
accompanying support materials | | Hold initial conversations with potential partners and deliver the non-confidential package to those
parties interested in a transaction | | Follow-up meetings of the Clientâs science/clinical development teams with potential partners after
their execution of a Confidentiality Agreement. Finalize confidential materials for later delivery to,
or dataroom inspection by, an initial set of partner candidates | | If the counterparty remains interested, FPG arranges for the client to deliver and/or
present confidential materials. Rehearse client for meetings with the potential partner(s), and
assist with preparing presentation materials, etc | | Select the best finalist candidates for further meetings and assist the client in handling the counterparty's detailed due diligence process (Science, Technology, Clinical Development, Operations, Finance, and
Intellectual Property) with site and dataroom visits | | Establish deal terms with the client and arrange discussion of initial terms with the potential partners | | Assist the client in negotiations with potential partners, and work with the client's legal advisors on the
preparation of formal documentation, leading to a successfully concluded deal with one or more of the
chosen partners |
A representative sample of clients for whom we have completed successful Corporate Partnering
projects includes Shire, SemBioSys, Schering AG, Targeted Genetics, Osiris Therapeutics, Atrix Laboratories, and Neurochem.
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