Ernst & Young
 

 

scivent
 

Mergers & Acquisitions and Valuation of Biotech Companies

Mission and Content

The workshop is intended to provide comprehensive insight into the process of Mergers & Acquisitions and the valuation of biotechnology companies. The focus will be mainly on the Health Sciences industry, biotechnology and pharmaceutical companies in particular.

Understand both the strategic drivers of M&A and the general framework of an M&A process before two board executives will present their experience in getting their deal done. A discussion of critical success factors within an M&A transaction will conclude the first part.

Find out about the different methods of valuating companies as well as patents and learn what the specifics while assessing biotech firms are. Get an overview of common valuation models and practice during a case study.

About the Speakers

Jakob Geyer, Head of the European Health Sciences M&A Team, Ernst & Young Corporate Finance Beratung GmbH, Frankfurt, Germany, has eight years experience as a Healthcare and Life Sciences M&A advisor. He is founding member at the German Health Sciences M&A Team and head of E&Y’s European practice. His clients comprise pharmaceutical companies, biotechnology and medical device companies, health science funds as well as hospital groups.

Christopher Klein, PhD, EDBT, Manager in the German Health Sciences M&A Practice, Ernst & Young Corporate Finance Beratung GmbH, Frankfurt, Germany has five years experience as M&A advisor in the biotech and pharmaceutical sector. He is a founding member of the German Health Science M&A Team. Prior he worked for the Biotechnology Unit of The European Commission in Brussels. He studied Biotechnology at the Universities of Braunschweig and Napoli as well as University College London before he obtained his PhD degree at the Technical University of Denmark. He holds a second Master`s degree in Economics.

Stefan Weber, CFO Biofrontera Pharmaceuticals AG, Cologne, Germany, was formerly the chief financial officer at Girindus AG, where he was responsible for the execution of the IPO, Investor Relations as well as two acquisition and integration projects. From 1987 to 1999 he worked at Lohmann GmbH & Co.KG. His final position there was as head of the central finance and tax services.

Carsten Dehning, CFO DeveloGen AG, Goettingen, Germany, held various positions in Finance and Controlling within the Preussag Group for over a decade. After completing his studies in economics at the University of Goettingen, he spent two years in Germany and the United Kingdom on the Preussag Management Trainee Program. He returned to London as financial controller for a group of companies in the U.K. and Ireland.

Ulrich Moser, PhD, Partner, Ernst & Young AG, Stuttgart, Germany, a certified German public auditor and tax advisor is a member of the Transaction Advisory Services department and specializes in the area of valuation. His main focus in this field is the application of innovative valuation methods and techniques, such as real option models and Monte Carlo simulations. He is a specialist in the valuation of intangible assets and has extensive experience in performing valuations for companies in the biotechnology, medical technology and pharmaceutical industries.

Siegfried Bialojan, PhD, Ernst & Young AG, Mannheim, Germany, studied biology and medicine at the University of Heidelberg and obtained a PhD in Molecular Biology. After spending 2 years as a scientist at the Cancer-Research-Institute Heidelberg he was a senior scientist at BASF AG. Since 2000 he was heading the eADME-department with global responsibilities. In June 2001 he joined Ernst & Young and in October 2002 he took over the Industry Leader position in Health Sciences, coordinating E&Y´s German activities in the Health Sciences Industry.

Manuel Bauer, PhD, Ernst & Young AG, Munich, Germany, studied biology and medicine at the University of Freiburg. He obtained a PhD in natural sciences (Dr. rer. nat.) with an examination in human genetic in Tübingen. He worked at the Max Planck Institute of Biochemistry in Martinsried (Munich). Dr. Manuel Bauer is involved in in-licensed patents, which led to the foundation of a start up company. He completed successfully an Open University course economies at the IWW of the Fernuniversität Hagen. Within Ernst & Young he specializes on due diligence, valuation, risk management and internal audit risks for the Health Sciences industry.

DAY 1 March 22, 2004

09.30
Registration of delegates, coffee

10.00 - 12.15
M&A: Strategic aspects and transaction rationale

Jakob Geyer (Ernst & Young) and Cristopher Klein (Ernst & Young)

12.15 - 13.45
Lunch, coffee

13.45 - 14.45
M&A: Process and parties involved

Cristopher Klein (Ernst & Young) and Jakob Geyer (Ernst & Young)

14.45 - 15.30
The Biofrontera experience with Mergers and Acquisitons

Stefan Weber (Biofrontera Pharmaceuticals AG)

15.30 - 16.15
The Develogen experience with Mergers and Acquisitons

Carsten Dehning (DeveloGen AG)

16.15 - 16.45
Coffee Break

16.45 - 17.30
Discussion of critical factors

Jakob Geyer (Ernst & Young), Stefan Weber (Biofrontera Pharmaceuticals AG) and Carsten Dehning (DeveloGen AG)

17.30 - 19.00
Break

19.00
Dinner

DAY 2 March 23, 2004

08.30 - 11.00
Basics of company and patent valuation

Ulrich Moser (Ernst & Young)

11.00 - 11.30
Coffee break

11.30 - 12.30
Key issues in valuating biotech companies

Siegfried Bialojan (Ernst & Young)

12.30 - 14.00 Lunch, coffee

14.00 - 15.30
Valuation models for biotech companies

Ulrich Moser (Ernst & Young)

15.30 - 16.30
Case study

Ulrich Moser (Ernst & Young) and Manuel Bauer (Ernst & Young)

16.30
End of the course