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Biomedical and Biotechnology Valuation: Innovation and Market Assessment
2-Week – Online Workshop
Certification Badges through ISTM
Valuation of Innovative Biomedical Technologies is Different
Innovative technologies often have no precedent, no well-defined market. Yet knowing the value of innovation, a technology, or a company, is critical for decision-making on whether to invest, or bring to market, to patients or end-users.
Establishing a valuation is critical to getting innovation to the market and patients. Why? Breakthroughs have value when they:
- Are needed by end-users
- Provide high value to the medical or scientific community
- Serve more than a few end-users, or small patient populations.
Innovations always face limited funding and decisions need to be made on which to advance, and which to cancel. Defining the commercial value of innovation typically defines its future.
But defining a value to innovative biomedical technologies where there are few precedents, references or established markets requires special knowledge.
About the Workshop
This workshop provides the knowledge required to define and prepare a valuation for innovative biomedical and biotech products and services. The process you will learn can be applied to medical devices, diagnostics, therapeutics, equipment, life sciences tools, and even biomedical related services.
- Learn through readings, discussion sessions, and presentations by guest lecturers. Participants select a real-world project based on their interests.
- You’ll get hands-on, practical experience applying critical elements of valuation. The program uses practical presentations, case studies, and customized guest presentations to help learners develop their own valuation projects.
- Examples are provided for selecting the best process for defining the unique value of a technology or even a company—based on the current and future market value of the innovation.
Valuation is more than just assigning numbers. It involves understanding the potential of a new product or service, balanced against potential regulatory and commercial risks.
- You’ll understand why stakeholders (buyers and sellers) can have different perceptions of the value of the same asset. Understanding how a buyer will benefit from new technology is part of the valuation. Some buyers will integrate your innovation into their products, creating even greater value. Understanding ‘strategic’ buyers is an important part of the valuation.
- You will identify assumptions and factors that create value and develop a framework to prioritize key factors affecting valuation, as you assign current and future worth to a technology.
- You will develop your own evaluation projects and assess factors such as market size and potential, market demand, reimbursement position, strategic partnering options, and competition. You will also assess the value of an intellectual property.
- Relative and extrinsic Excel models will be used for defining market sizes, and spreadsheet valuations.
- The program is interactive and participants work in small groups to enhance learning.
Taught by highly experienced instructors teaching business of Biotechnology at Johns Hopkins University, NIH Graduate School; globally recognized guest lecturers in areas such as investment banking, reimbursement strategy, market analysis, and many others will share practical knowledge.
Basic knowledge of accounting principles and finance is helpful, but not required.
Course Outcomes and Objectives
You will prepare professional valuation models and begin to populate them with validated market data:
- Market analysis and market research processes to form assumptions and define elements that contribute value
- Market sizing techniques
- Future value of a product when assessing the value of an intellectual property today
- Making the right assumptions for new technology in development.
- Excel models, (DCF, NPV, etc)
- Valuing intangibles, such as a management team’s expertise and track record
- Discounting for various types of risks including R&D and regulatory failures.
You will be able to:
- Define the key factors involved in assessing technology, market, or company
- Value an idea, technology, or company
- Use the tools and techniques in assessing a market and valuation
- Assess a company’s or technology’s intangible factors, prior to the valuation
- Understand key components of a therapeutic valuation
- Assess a biotech company for financing rounds and M&A
- Manage market data: In business, ‘directional’ market data may be all that is available. Presenting potential errors is part of the valuation process.
- Use Risky Data: Making estimates based on limited data can present inaccuracies unless properly characterized.
- Week 1: Introduction to Valuation and Assessment
Outline your new technology evaluation
Developing your Biomedical Valuation
Refining your Biomedical Valuation Models
Selecting best models; customizing Excel
- Week 2: Presenting Value to Biomedical Investors
Selecting Valuation Methodology
Refining valuation tools
PPTs and spreadsheet presentation
- 2-week online workshop
- “Asynchronous” meaning it’s done on YOUR schedule; online threads and meetings.
- Log on for lectures, exercises, and discussions 2-3 times/week
- ~15 hours total Workshop time
- Platform: Canvas Learning, an easy online app. https://istm.instructure.com/courses/valuation
Global Biotechnology Innovation and Evaluation Services Overview
BioPlan Associates can help streamline your new product introductions. Click below to see how we can help get your technology into the hands of end-users, who can evaluate your product more quickly.
Benefits to Technology Innovators
- Unique access to global commercial Process Development—425 biopharma evaluators and field testing staff, pre-recruited (10-year relations with panel of global major competent biomanufacturing facilities capable of providing real-world evaluations of new products and technologies (Biotechnology Industry Council™)
- High-value, VP, director of commercial PD evaluations
- Accelerate innovators’ new product evaluations; get new products into the right hands
- Management of new product field testing & sample placement
- Coordinated, multi-site testing, with integrated, compiled data
- Managed evaluation programs between evaluators & vendors
- Written, comparative analysis provided—test protocols, observe user interactions with your products through User-driven Innovation analysis; Standardized post-test reporting
- Pre-screened technology evaluators to ensure technical qualifications
- Peer-to-peer input regarding new technology
- More data, from multiple commercial sites, much more quickly
- Reduced time, costs, risks compared with in-house evaluations of new technology platforms
- Speed beta testing and reduce time-to-market
- Eliminate innovators’ internal staff and sales reps’ recruiting external facilities
- Receive direct, unbiased, blinded feedback, from CRO Independent, unbiased reporting
- Direct input for technology design, marketing strategy, pricing, positioning
- Publishable, attributable data support is available
- Dedicated project managers to assure IP confidentiality
- Access testing facilities to support early-stage evaluation
Benefits to Evaluators and End-users
- Match your areas of interest in new bioprocessing, tools, and technology with innovators who’ve developed new devices
- Identify new technologies sooner by efficiently finding innovators who are unable to find you
- Simplify your technology scouting by funneling global vendors’ new technologies right to you first
- Reduce your contact time with sales rep/vendor (unless you want it!)
- Easily say ‘no—I’m not interested’ to vendors
- Ensure protocols are pre-tested and externally refined to simplify evaluations
- Receive pre-testing basic data and results, from an external, independent lab – helps you decide if it’s relevant or not
- Receive Design of Experiment support so you don’t have to reinvent testing for each new process and each new technology