www.angelicobiotech.com
TRANSFORMING HEALTHCARE THROUGH
REVOLUTIONARY MEDICINES FOR AGEING DISEASES
"We are entering a period of time where many of the smaller biotech companies have
been around for ten years, and they are starting to get their products past the goal line“
Dr. Kris H. Jenner, portfolio manager
T. Rowe Price Health Sciences Fund
(T. Rowe Price is managing more than $269 billion in assets)
"When they write the history of the world this will be mankind's greatest moment when
we actually harnessed and got the understanding of life and used the understanding of
biology to be transformative: it will improve environment ,it will improve health. We will
theoretically live forever. It will improve the quality of our life while we are living . It is a
fabulous time to be alive and it is a fabulous time to be in this industry".
Steven Burill, CEO
Burill & Company
(Burill & Company has $900M in life sciences assets under management)
" Dream as if you'll live forever. Live as if you'll die today. “
James Dean
Two-time Oscar-nominated American film actor.
The promise of revolutionary
medicines
for ageing diseases
Scientists managed to extend the lifespan of C. elegans by nearly 10 times.
A group of scientists from the University of Arkansas for Medical Sciences has shown
that a mutation in gene that is similar with the gene that humans have (gene that
does insulin-like signaling) extends lifespan of C. elegance by nearly 10 fold extension
of both median and maximum adult lifespan.
Some of the scientific breakthroughs that
made life extension possible
1908 The Nobel Prize in Physiology or Medicine - in recognition of their work on immunity. Ilya Ilyich
Mechnikov, Paul Ehrlich
1965 Discovering that human cells divide for a limited number of times in vitro (refuting the contention
by Alexis Carrel that normal body cells are immortal). This is known as the Hayflick limit. Leonard Hayflick
Ph.D., is Professor of Anatomy at the University of California, San Francisco, School of Medicine, and was
Professor of Medical Microbiology at Stanford University School of Medicine.
1992 The Nobel Prize in Physiology or Medicine for discoveries concerning reversible protein
phosphorylation as a biological regulatory mechanism
1993 The Nobel Prize in Physiology or Medicine for their discoveries of split genes
1994 The Nobel Prize in Physiology or Medicine for their discovery of G-proteins and the role of these
proteins in signal transduction in cells
1995 The Nobel Prize in Physiology or Medicine for their discoveries concerning the
genetic control of early embryonic development
1996 The Nobel Prize in Physiology or Medicine for their discoveries concerning the specificity of the cell
mediated immune defence
1999 The Nobel Prize in Physiology or Medicine Gьnter Blobel for the discovery that proteins have
intrinsic signals that govern their transport and localization in the cell
(He is on the board of advisors of our portfolio company).
2001 The Nobel Prize in Physiology or Medicine Leland H. Hartwell, Tim Hunt, Sir Paul M. Nurse for their
discoveries of key regulators of the cell cycle
2002 The Nobel Prize in Physiology or Medicine Sydney Brenner, H. Robert Horvitz, John E. Sulston The
Nobel Prize in Physiology or Medicine for their discoveries concerning genetic regulation of organ
development and programmed cell death
2006 The Nobel Prize in Physiology or Medicine Andrew Z. Fire, Craig C. Mello The Nobel Prize in
Physiology or Medicine 2006 for their discovery of RNA interference - gene silencing by double-stranded
RNA
2007 The Nobel Prize in Physiology or Medicine Mario R. Capecchi, Sir Martin J. Evans, Oliver Smithies
for their discoveries of principles for introducing specific gene modifications in mice by the use of
embryonic stem cells
2007 Making Skin Cells Into Stem Cells. Kyoto University’s Yamanaka and a University of Wisconsin team
led by Junying turned human skin sells into embryonic stem cell equivalents.
2009 The safest way yet to make stem-like cells using a patient's ordinary skin cells, this time by using
pure human proteins was developed by a team at Harvard University and Massachusetts-based
Advanced Cell Technology Inc.
Dr. Robert Lanza of Advanced Cell sees almost immediate commercial applications. He said the company
would seek Food and Drug Administration permission to test the cells in people by next year.
This technology is leading to the revolution in medicine and in theory will allow grow-your-own
transplants with no risk of rejection and much more.
Technology push:
Beginning the 2nd Half of the Gartner Curve
2009 Obama removes the
«partial ban» on HESCs
Visibility
2001: 3300 jobs, 73 firm,
2000 Time Magazine:
TE №1 job
mkt cap > $2.5 billions
2001 Ortec FDA approved
2001 TE blood vesel enter clinic
2001 Dermagraft FDA approved
2002 ISSCR founded
1999 Intercifex founded
1999 TE bladders in clinic
1999 First TE product
2002 Bush «partial ban» on HESCs
FDA approved (Apligraf)
1998 Plan to build human heart in 10 years
1998 Human ESCs
first derived
1997 Dolly the Sheep
1997 First cell
therapy FDA approved
(Carticel)
1992 Geron founded
1988 SySternix founded
2003 UK Stern Cell Bank set up
2005 CIRM founded
2006 Carticel – 10 000 patients
2006 hESCs derived without harming embryo
2006 Batten’s Disease trial
2006 Reneuron file IND for stroke trial
2007 Apligraf – 200 000 patient therapies
2007 Human iPSCs Derived
2007 Intercytex start Phase 3 ICX Pro
2007 $1.2M+ Patients Treated
2007 $1.5B RM Product Revenues
2007 800 FDA Clinical Trials Ongoing
2007 50 Public Companies: $4.7B Mrkt Cap
1986 ATS & Organogenis founded
1985 Team TE coined
2002 ATS + Organogenesis
1980 Early TE research (MIT)
file Chapter 11
Time
Human Genome Project
Human Genome Project (HGP) Completed in 2003.
HGP the was a 13-year project coordinated by the U.S. Department of Energy and the National Institutes
of Health. During the early years of the HGP, the Wellcome Trust (U.K.) became a major partner;
additional contributions came from Japan, France, Germany, China, and others. See our history page for
more information. Project goals were to
identify all the approximately 20,000-25,000 genes in human DNA,
determine the sequences of the 3 billion chemical base pairs that make up human DNA,
The Human Genome Project took 10 years and cost $3 billion USD
Celera genome sequencing project took two years and cost just $300 million USD
Gene sequencing costs have been dropped exponentially since the sequencing of the human genome in
2000. In 2001, the genome sequencing of James Watson, a co-discoverer of the structure of DNA, was
completed at a cost of $2 million USD. In 2008, the first full genome sequencing services were sold
commercially to customers for a cost of $100,000 USD. By March 2008, one company, Applied
Biosystems, completed a human genome sequencing in two weeks for $60,000 USD, the best cost yet.
Another company, Intelligent Bio-systems, has developed a system that can sequence a
full human genome in 24 hours for $5,000 USD.
A price has been offered for the first to sequence 100 human genomes for $10,000 USD each in ten days
or less. The $10 million USD prize, donated by diamond prospector Steward Blusson, will continue to be
available until the deadline of 4 October 2013. Many scientists around the world think it is highly likely
that the prize will be claimed before the deadline, probably substantially before.
If the cost of genome sequencing falls below $1,000 USD, or better yet, $500 USD, many futurists have
predicted qualitative changes in the way we do medicine. If millions of genomes are sequenced and
made publicly available, the potential knowledge to be gained for the science of genetics would be
massive.
Cancer Genome Project
Cancer is now understood to include more than 200 different diseases. In all forms of cancer, genomic
changes cause disruptions within cellular pathways that result in uncontrolled cell growth. One in three
people in the Western world develops cancer. One in five will die of the disease.
Cancer is, therefore, the most common genetic disease. The Cancer Genome Project seeks to explore
the entire spectrum of genomic change in cancer through the application of genome analysis
technologies, including large-scale genome sequencing. The Cancer Genome Atlas Pilot Project (TCGA),
was initiated in 2006 to identify important genetic changes involved in lung, brain, and ovarian cancers.
TCGA is a comprehensive effort to accelerate our understanding of the molecular basis of cancer
through the application of genome analysis technologies, especially large-scale genome sequencing.
The project will delve more deeply into the genetic changes leading to origins of this complex set of
diseases and, in doing so, will enable new discoveries and tools that will provide the basis for a new
generation of cancer therapies, diagnostics, and preventive strategies.
In the last 5 years large pharma
lost half of it’s value
Success in biotech investing
Capitalization 48.71B
This slide is created by Angelico and is about
Amgen. It not endorsed by or affiliated with
Amgen.
Amgen is a leading human therapeutics company in the biotechnology industry. For more than 25
years, the company has tapped the power of scientific discovery and innovation to advance the
practice of medicine. Amgen pioneered the development of novel products based on advances in
recombinant DNA and molecular biology and launched the biotechnology industry’s first blockbuster
medicines. Today, as a Fortune 500 company serving millions of patients, Amgen continues to be an
entrepreneurial, science-driven enterprise dedicated to helping people fight serious illness.
Success in biotech investing
In just over 20 years, Gilead has become one of the largest biopharmaceutical companies in the world. Gilead’s primary
areas of focus include HIV/AIDS, liver disease and serious cardiovascular and respiratory conditions.
Company has a portfolio of 12 market leader drugs
including the first single-tablet regimen for HIV infection
and the treatment of chronic hepatitis B. In 2008, Gilead’s
annual revenues surpassed $5.3 billion. BusinessWeek has
ranked Gilead #1 in its 2009 listing of the 50 bestperforming companies, up from #2 last year.
Capitalization 40.04B
This slide is created by Angelico and is
about Gilead. It not endorsed by or affiliated
with Gilead.
Success in
biotech investing
Capitalization 19.03B
Revenue 2.4B
Success in
biotech investing
Capitalization 4.5B Revenue 2.05B
This slide is created by Angelico and
is about Cephalon. It not endorsed
by or affiliated with Cephalon.
Success in biotech investing
This slide is created by Angelico and is about Dendredreon.
It not endorsed by or affiliated with Dendredreon.
Market
After 40 years of development, regenerative medicine (RM) technologies are maturing and the market is at a key inflection point.
Driven by a technology push from the RM programs now proliferating at major universities throughout the world and a
market pull from large Pharmaceutical companies seeking to fill their diminishing pipelines, the field is poised for rapid expansion.
Fueling this expansion are the demographics of an aging population seeking cures for many previously incurable
degenerative diseases, like diabetes, heart disease and Parkinson’s disease. The key metrics confirm the opportunity:
•
•
•
•
80+ RM research programs in universities around the world
400+ private RM companies and more are formed every month
30+ public RM companies
800+ ongoing FDA clinical trials involving RM technologies
The current market for Regenerative Medicines is $5.5B, and it is projected to reach $11.5B in 2010 for a projected CAGR of 27.5%.
The DHHS predicts that the market for Regenerative Medicines will reach $300B by 2020.
Life Science Intelligence (LSI), predicts that the largely untapped global market potential for tissue engineering
and regenerative medicine products will exceed $118 billion by 2013.
The world skin care market had sales of $65.7 billion in 2007, up 40% from 2002 (and up 7% from 2006 )
Within facial care, anti-aging products were the fastest growing with 67% growth from 2002-2007 to reach $14.9 billion in 2007
Cell Culture Tools Market: Coatings & Additives.
The size of the market in 2005 was estimated to be $714.5 million. Forecasted to grow to $1.2 billion by 2012
Tissue Engineering Market / Tissue Regeneration patches for Wound Care, Hernia Repair, Pelvic Floor Repair,
Rotator Cuff/Ligament Repair, Periodontal There are approximately 700,00 hernia repairs yearly. There are over 230,000 rotator
cuff repairs yearly. Approx. 500,000 operations for Pelvic Floor Repair US hair regrowth market is estimated at $2.5 billion .
Current obesity products totaling sales of around US$0.5.1 billion. Lack of significant efficacy and medical rationale,
along with unacceptable side effects. Type 2 diabetes US$10+ billion market in the key markets worldwide.
Alzheimer's market exceeds US13 billion USD. The total global value of the medical devices market is estimated
to be more than $165 billion in 2006, with annual growth at 5.5%
World pharmaceutical market is over $1 trillion.
Despite the maturation of RM, the industry has been underserved by the venture capital community.
Concerns about political risk, and the length of the technology development cycle have caused most VC’s to stay out of the field.
We believe that the political risks are diminishing, and the extraordinarily rapid pace at which the technology is developing
mitigates the technology risk. This market dislocation presents a very attractive investment opportunity, which we will exploit.
Market
Annual sales growth in biotech industry has been approx. 29,55% for the last 5 years.
Annual sales growth in pharmaceuticals industry has been approx. 7,71% for the last 5
years. EPS growth in biotech industry has been approx. 38,57% for the last 5 years. EPS
growth in pharmaceuticals industry has been approx. 6,55% for the last 5 years.
A total of 199 mergers and acquisitions were announced in the health care industry during
the first quarter of 2009, based on preliminary figures, however, a total of $127.4 billion
was committed to fund the first quarter’s M&A activity, the highest level of dollars ever
spent during a single quarter. This breaks the previous record of $118.4 billion set nearly 10
years ago in the fourth quarter of 1999.
The health care technology segment attracted the largest amount of capital, capturing
nearly 99 cents out of every dollar invested in health care M&A. The major driver of this
activity was the Pharmaceutical sector, which by itself accounted for 89% of the first
quarter’s dollar volume.
Key market drivers for medicines for
ageing diseases:
• Diminishing populations of developed countries
• Aging population of successful business people
• Large unmet medical needs
• Increased healthcare spending
• Government funding increasing
• Large pharmaceutical companies pipelines diminishing
• 80+ Academic Programs
Worldwide Pharmaceutical Market by Sectors
through 2008 ($ Billions)
Big Pharma Faces Tidal Wave
of Patent Expirations
It takes one good drug
to make over $4 billion
in sales revenues
Large pharmaceutical companies buy biotech companies
to make up for a scarcity of new medicines and expiring patents
for best-selling products
$720 M
$68 bn
$90.8 bn
$725 M
Dimebon
made in Russia
$550 M
Sirtris is focused on discovering and developing proprietary, orally
available drugs with the potential to treat diseases associated with
aging, including metabolic diseases such as Type 2 Diabetes. Its drug
candidates are designed to mimic certain beneficial health effects of
calorie restriction, without requiring a change in eating habits, by
activation of sirtuins, a recently discovered class of enzymes that
control the aging process.
$6.5 bn
$64 M
$85 M
$300 M
$41 bn
$15.6bn
$800 M
Public Markets Are Rewarding Clinical Progress
Big Pharma is Actively Engaged
GSK & HSCI $25M Deal
Merck, Pfizer & Lilly Launch
Enlight Bioscience
Pfizer Forms Regenerative Medicine Division
GSK, AZN (AstraZeneca) & Roche Help Launch
Stem Cells for Safer Medicine in UK
Johnson&Johnson invest in
Tengion & NovoCell
Market
Regenerative Compounds: already 50% of Biotech Sales
Population ageing is bad for the nations
USA
Aging population threatens USA’s "AAA" credit rating
Korea
•Currently one of the youngest populations out of all OECD countries
•By the middle of this century it will have one of the oldest
•Around half of all workers will be aged 50 and over
•Population ageing will lead to a slowdown in labor force growth
•Within 20 to 30 years the labor force may begin to contract
Australia
•Coastal regions will experience growth of 210% in the number of seniors between now and
2045. Inland regions will also experience significant growth in the number of seniors with
179.7%. With the delivery of human services now representing 49% of total local
government expenditure, local councils are more likely to face budgetary pressures from
population ageing than from traditional activities such as road and infrastructure provision
and maintenance.
Population growth rates.
CIA World Fact Book
Population as a competitive advantage
Things don’t look good for Europe
Populations decline 2009
Government & NGO’ support
• Obama gives green light to stem cell research
• Anti-ageing organizations in the USA and the rest of the world
are becoming more active
• NIH grants heavily towards developing novel cures for age
related diseases
• Most of the governments have developed plans to foster
development of biotech clusters by tax incentives and
investment.
Revolutionary medicines for ageing deseases
A Broad Field: 8 Key Sectors
Cell Therapies
Heart Diseases
Diabetes
Vision Disorders
Neurological Disorders
Tissue Engineering
Organ Replacement
Tissue Regrowth
Bone & Cartilage
Wound Healing
Drugs
Vitamins & Supplements
Healthy foods
Regenerative Compounds
Compounds that trigger
endogenous regeneration
Anemia
Advanced Wound Healing
Advanced Fracture Healing
Aesthetic Medicine
Dermal Fillers
Hair Restoration
Anti-Aging/Anti-Wrinkle
Tooth Regeneration
Diagnostics,
Tools & Devices
Delivery Devices
Cells Assays for DD&D
Predictive Toxicology
Bioinformatics
Why the Time to Invest is Now
Technology Push
Technology maturing after 40
years of Development
Research program
proliferating: 80+
Technology maturing
Clinical activity accelerating
(800+ FDA trials)
Increased Government
Funding
Companies
Emerging to Fill
the Gap
400+ companies
Market Pull
Healthcare spend is 17% of
US GDP Heading Towards 23%
Demographics: aging
populations
Large unmet medical needs
Pharma pipeline diminishing
Public markets receptive
Investment Process Overview
Angelico systematic
approach leads to…
1. Proprietary Deal Flow
Substantial Proprietary Deal Flow
Industry Leadership
Extensive Network
Proprietary
Database
Identify Best
Opportunities
Rigorous Due Diligence Process
2. Due Diligence
& Deal Structuring
Initial Screen
&Primary Due
Diligence
Deep Due Diligence
Structure Deal to
Maximize Returns
& Minimize Risk
Build Value trough Active Management
3. Build Company Value
& Maximize Exist
Build Team &
Construct Optimal
Business Model
Drive Execution
& Manage Risk
… greater value for our portfolio companies & higher returns for our LPs.
Structure Exit to
Maximize Value
Angelico Investment Approach
Deal Flow
Competitive
LandUnmet -scape
Size of
Market
Need
Due Diligence
External Ecosystem
Analysis
Build Value
Options To
Enhance Value
Target
Segment/
Approach
Top Down
Strategy
Companies
Bottom Up
Strategy
Intellectual Property
Build
Company
Value
Internal Company
Analysis
Drivers Of
Value
Proprietary
Database
Company Selection
Universities
Target
Companies
Clinical
Trials
Universities
Patents
/ IP
Investment Selection Criteria
1.
2.
3.
4.
5.
6.
7.
8.
Outstanding scientist recognized by Nobel prize award and/or large NIH grant
Scientific advisory board is excited about the technology
Technology market screening has shown that our scientist is the leader in this
technology and that there is no evidence that this technology will not work but on the
other side all evidence shows the contrary
There is a substantial over $1 bln market for this technology and a strong market
demand for the product or services
Technology must be disruptive: far ahead of all existing technologies
Technology must prolong maximum life span by 1/3 and more
In general, most of the investments are expected to be in the startup through
mezzanine stage. The largest number of investments are targeted to Series A and B
rounds, and we do invest in public entities.
Angelico principally invests in the United States and Europe, but has strategic interests
globally. The average investment made by Angelico is $1-5M over the life of any one
company. Angelico professionals almost always serve on the Board of Directors of each
portfolio company, and assist with operational activities
Science Gets Funded
+ 1972 Alcor Life Extension Foundation, L. Ellison - 10M for a company that studied centurions, O. Deripaska - 16M for SkQ project, T.
Artemiev – 1M undisclosed, P. Thiel – 3.5M, May 2009, energy sector investor - 4M undisclosed
Recent Pre-clinical Licensing Deals
The Marketplace
Date
Licensor
Licensee
Technologies
Upfront
US $
Milestones
US $
June
2008
Astex Therapeutics
Janssen
Pharmaceutica
FGFR inhibitors and other
compounds (cancer)
$US 37M
$US 500M
Feb 2008
EUSA Pharma
GlaxoSmithKline
human anti-interleukin-6
antibody (cancer & antiinflammatory)
$US 44 M
Plus
royalties
inc. milestones
Jan
2008
Addex
Pharmaceuticals
Merck & Co
Allosteric modulators
(Schizophrenia & other
indications)
$US 22M
$US 455 M
plus $US
225M
Dec
2007
Aegera Therapeutics
Human Genome
Sciences
Apoptosis Inhibitor
(Cancer)
$US 20 M
295 M
Sept
2007
Isis Pharmaceuticals
Ortho-McNeil
Inhibitor of Glucagon &
Glucocorticoid Receptors
(Diabetes)
$US 45 M
230 M
Success in Longevity Drug Investing
“Alzheimer’s Disease drug sales can easily surpass $13 billion in sales of Pfizer's cholesterol drug, Lipitor, to
become the biggest drug of all time.“ According to health-care investor Larry Feinberg, whose flagship healthcare hedge fund has averaged 21% over the past 18 years
Medivation is getting a healthy $225 million in upfront cash, potential future milestone payments of $500 million
or more, plus 40% of any profits on Dimebon if approved in the U.S. and royalties on its sales elsewhere in the
world. Medivation will be responsible for 40% of the U.S. development and commercialization expenses.
$725 M
Dimebon
made in Russia
2008 deal
Team Built to Succeed in Creating Revolutionary
Medicines for Ageing Deseases
Technology Team
Maxim Skulachev
Stan Polozov
Eugeny Nudler
Alexey Ryazanov
Konstantin Severinov
Science
Finance
Business Team
Ed Kanalosh
Yury Oreshin
Regulatory
Operations
Science/Technology
Regulatory
Operations
Finance
• Broad Expertise in
medicines for ageing
diseases
• Nuanced
understanding of
clinical trial design
within the context
of medicines for
ageing diseases
• Extensive
management
experience in large
pharma
•Build a pharma
business from
$10M to 100M in
sales and sold it for
100M to a strategic
investor
• Conducting pioneer
research
• Deep academic ties
•McKinsey
background
Scientific Advisory Board
Evgeny Nudler, Ph.D.
Evgeny is a Molecular Biology professor at New York University. Evgeny
operates New York University and Geron Lab research facilities, where
Evgeny’s research is focused on searching for substances with small
molecules that prolong life. Excellent results have been produced: the
regular life span of nematodes has more than doubled and Evgeny is
working on reproducing the effect in mammals. Evgeny is an author of
more than 30 publications on molecular biology in the most prestigious
scientific journals. At 25 Evgeny became the youngest professor of New
York University. Evgeny’s Geron Lab research facility was financed by the
Dynasty Foundation that belongs to the founder of the leading cellular
operator in Russia VimpelCom (NYSE: VIP).
Alexey Ryazanov Ph.D., D.Sc.
Alexey is a professor of Pharmacology at University of Medicine &
Dentistry of New Jersey - Robert Wood Johnson Medical School and
a member of The Cancer Institute of New Jersey. Alexey is an
honorary recipient of numerous National Institutes of Health (NIH)
grants including most recent $10M grant for developing a new
approach to treat chronic diseases . Alexey has discovered a novel
type of the signaling proteins that play a key role in the regulation of
magnesium homeostasis in the cells. Understanding how those
proteins function could lead to new treatments for a wide range of
conditions, including heart, kidney and neurological diseases. Alexey
is also the founder of Longevica Pharmaceuticals Inc. with a
patented technology that prolongs life of mammals.
Investment Team
Ed Kanalosh MBA, M.D., Ph.D.
Ed is the honorary chairman of ANGELICO Biotechnology Investment
Fund. Ed has been Vice-President of Investment Bank Trust, a large
Moscow-based investment bank. His carrier included McKinsey & Co,
Private Equity Funds: Quadriga Capital and Steinberg Fund, Bill and
Melinda Gates Foundation, MPP/ Pharmatec, SmithKline Beecham
Pharmaceuticals, Pharmacia & UpJohn. Ed has worked on a wide variety
of financing transactions, including M&A and LBO. Ed graduated from
Harvard Business School with an MBA, got his Ph.D. from the National
Medical University, and M.D. from Kiev Medical Institute.
Andrey Mladentsev MBA
Andrey is the Senior Partner of ANGELICO Biotechnology Investment
Fund. Andrey has been several times nominated as the best CEO in Russia
and he is known to be the best CEO in the pharmaceutical sector. Andrey
increased the revenues of the pharmaceutical company Nizhpharm from
$19M in 1999 to $124M in 2007 and successfully sold the company to
the German pharmaceutical company STADA AG for 80,5M EUR including
his own stake. Andrey has been also the Vice President of STADA AG and
Deputy of the Head of the Russian Drug Administration. Andrey got his
MBA at IEDC Bled School of Management.
Investment Team
Yury Oreshin
Yury is the CEO and founder of ANGELICO Biotechnology Investment
Fund. Prior to launching ANGELICO, Yury has been an Investment Banking
Director at Art Capital investment group, Advisor at London based
investment banking boutique Edelau and a Sales Director at IBMED, a
stem cell research and medical center. Yury holds his Bachelor of Science
in Business Administration degree from the University of South Carolina.
Venture Partners
Business Advisory
Stan Polozov
Radka Milanova, Ph.D.
Stan is a venture partner of ANGELICO
Biotechnology Investment Fund. Prior to joining
ANGELICO, Stan has been conducting research in
the area of molecular biology and genetics
focusing on anti-ageing for over 6 years. Stan is an
inventor of 3 life extension technologies. Stan is
also an owner of electronic manufacturing
company Comforta ltd. Stan holds a Masters
degree in Molecular Genetics from the Kyiv
National Taras Shevchenko University, and did his
practice work in Molecular Medicine
at Hannover Medical School in Germany.
With over 15 years of experience in the pharmaceutical
industry Dr. Milanova possesses expertise in
the leadership of drug discovery and development
programs, technology assessment, licensing, and
manufacturing. Throughout her career she has also
served as a senior officer in companies like Forbes MediTech and IGT Pharma, a board member of several
companies and a member of technical and grant approval
committees. As a Director and senior manager, Dr.
Milanova has been involved with the due diligence
process for several licensing activities as well as
technology transfer and commercialization. She has been
responsible for the technology transfer and upscaling of
the multibillion steroid intermediates AD and ADD with
generic pharmaceutical manufacturers in Europe and
North America. Dr. Milanova negotiated and completed
the first venture funding for LinkCore with a UK venture
group, secured additional private financing and
completed the licensing of LinkCore’ first technology XC1100.
Pre Angelico Experience
Our Deal Pipeline
Geron Lab
GeronLab is a high-end research laboratory focusing on basic and applied studies in the area of aging. We design technologies
to delay normal aging and postpone the onset and progression of age related diseases. The ultimate goal is to understand the
basic molecular mechanisms of human aging and develop drugs that could slow down this process and also delay/treat agerelated diseases such as atherosclerosis, neurodegenerative diseases, cancer, etc.
Structure: GeronLab exists as a private biomedical laboratory based in Moscow. It supervises and coordinates studies
performed in several research institutes, including the State Research Institute of Genetics (Moscow), Institute of Molecular
Biology (Moscow), Biomedical Department of the Moscow State University, Institute of Cell Biophysics (Puschino) and New
York University (USA).
Team: Principal Investigator and Director - Evgeny Nudler, PhD, Professor of Biochemistry (NYU). Senior Research Stuff: Prof.
Alexander Mironov (SRIG); Prof. Mikhail Evgen’ev (IMB); Prof. Ivan Gusarov (NYU); Dr. Nataliya Bobkova (ICB); Research Stuff:
15 people (multidisciplinary PhD/MD team).
Major Preclinical Results:
1) Treatment for the Alzheimer’s disease (AD). AD is a prevalent neurodegenerative illness affecting millions of people
worldwide. Currently, there is no effective therapy to prevent or halt the progression of the disease, although symptomatic
treatments are available. We have developed a rodent model of sporadic AD, which induces AD-like behavioral and
neurochemical features including spatial memory impairment, regional loss of neurons, a cholinergic deficit and increased
brain beta-amyloid levels. Using this model we screened for neuroprotective molecules and found a polypeptide, witch
prevented AD-related memory loss and regional neuronal degeneration after intranasal administration. Moreover, the
polypeptide significantly extended the lifespan of both AD and healthy animals (mice and rats). We are preparing the patent
application to cover this technology and looking for partners to move the technology into clinics.
2) Anti-aging therapeutics. We have developed the high-throughput screen of small molecule compounds that extend the
lifespan of a round worm (nematode) Caenorhabditis elegans. C.elegans is a well-established animal model to study aging
mechanisms. It has a short lifespan (~2 weeks) and is easy to maintain and manipulate genetically. Many genes that control
normal aging are conserved in evolution. Mutations that prolong life of C.elegans do so in yeast, flies, mice, and humans by
affecting the same genes. Consistently, small molecules that have been shown to extend the lifespan in C.elegans (e.g.
resveratrol) do so in yeast and mice. Therefore, C.elegans represents the most convenient live test system for screening
libraries of small molecule compounds for their ability to slow down the aging process. In the last two years we have identified
several such compounds that increased the average and maximum lifespan of the worm for more than 2 times which is
significantly greater than any previously reported pharmacological effects. Some of those compounds are known drugs and/or
supplements that have been used in clinics for unrelated indications. We are planning to evaluate the most potent compounds
from the screen in mice to establish their anti-aging effect in mammals.
Financial Information: Capital Raised – 1,300,000; Capital Seeking – 2,000,000.
Our Deal Pipeline
Longevica Pharmaceuticals Inc.
Longevica is a new, privately held biotechnology company engaged in the development of novel, proprietary drugs with
potential utility in treatment of cancer, degenerative diseases (Alzheimer’s and Parkinson’s diseases), and other ageingrelated disorders. The company was formed to commercialize the discoveries demonstrating that inactivation of an alpha
kinase EF2K protects normal (non-cancer) cells and tissues from the toxic effect of chemotherapy, and can retard aging. These
discoveries lead to a novel approach in cancer therapy that can significantly improve the efficiency of the current methods of
cancer treatments and have a strong and reliable commercialization potential. The discoveries of the functional significance of
EF2K made by Longevica’s founder Dr. Alexey Ryazanov, are leading to the development of small molecule EF2K inhibitors
capable of specifically protecting normal cells from toxic effect of chemotherapeutic treatment of cancer. Additionally, EF2K
inhibitors are expected to have utility in treatment of patients suffering from ischemia, stroke and neurodegenerative
disorders by protecting cells and tissues from stress damage. It was also demonstrated in a mouse model that inactivation of
EF2K can significantly extend lifespan and delay the onset of menopause.
Management.
Longevica was founded by Dr. Alexey Ryazanov, a Professor of Pharmacology at the Robert Wood Johnson Medical School,
University of Medicine and Dentistry of New Jersey. Professor Ryazanov will serve as Longevica’s President while retaining his
academic appointment at RWJMS for the near future.
Intellectual Property (IP).
Longevica has acquired an exclusive license for the technology developed in Dr. Ryazanov’s laboratories from the University of
Medicine and Dentistry of New Jersey, embodied in five patents (issued or applied for). Longevica will hold exclusive rights to
the above technology and patent applications relating to all subsequent developments made by Dr. Ryazanov and colleagues
relevant to the company’s core technology.
Financial Projections.
Longevica is planning to use financing from the Foundation Venture Capital Group, NIH grants and investors to support the
preclinical development of its first product, a specific EF2K inhibitor, for cancer therapy. This would support R&D operations
for the first two years, when Longevica intends to submit an investigational new drug (IND) application for its first therapeutic
product for cancer patients undergoing chemo- and/or radiation therapy. Longevica believes that this first product could enter
the market in 2012. Taking into consideration the universal use of the product as a supplement to the most of existing
chemotherapy treatments and consequently a very wide market coverage and even by conservative estimate, the sales of the
drug could reach hundreds of $ MM in US and worldwide sales, in the first years after launching. Longevica is also developing
an oral EF2K inhibitor that can be used to prevent Alzheimer’s desease, delay menopause, and as a general anti-aging
medication.
Optimal Exit at Phase 2 on Risk Adjusted NPV
Summary of Angelico Value Proposition
Revolutionary medicines for diseases of ageing are transforming healthcare
Science moved at extraordinarily rapid rate
Technologies are at a key infliction point
Large and growing markets driven by demographics
VC firm built from ground up to focus exclusively on medicines for diseases of ageing
Team’s skills address all the major challenges to commercialization
Proven record of success
Existing pipeline
1st mover advantage: critical for IP, freedom to operate, knowledge base, best teams & deals
Solid investment strategy
Substantial quality proprietary deal flow
Rigorous comprehensive due diligence process
Build value through active management
Develop big pharma relationships from the earliest stages
Timely exits
How We Plan to Progress
Year 1
Year 2
Year 3
Year 4
Year 5
Year
Year 6
7
Q1
Q2
Technology 3
Technology 4
Technology 5
Technology 6
Q4
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OP
Q4
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Q2
OP
Q4
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Q3
Q4
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$12 - 30M
OL
Development
IL
Q3
OL
Development
Technology 1
Technology 2
Q3
$12 - 30M
OL
Development
IL
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$12 - 30M
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Development
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$12 - 30M
Development
IL
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IL
OL
$12 - 30M
Development
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$12 - 30M
Q1
Conservative Scenario
Illustrative Projected Cash Flow on Investment
Contacts
Contact person: Yury Oreshin, CEO
Angelico Biotechnology Investment Fund
9-105 Esseninsky boulevard 109439 Moscow, Russia
Phone: +7 916 3888355
E-mail: y.oreshin@angelicobiotech.com
Web: www.angelicobiotech.com