SlideShare uma empresa Scribd logo
1 de 32
Baixar para ler offline
CBI’s 3 rd  Annual Bio/Pharmaceutical Collaboration and Transaction Accounting Conference September 22, 2009 Joint Finance Committee Perspectives on How to Best Work with Collaborators and Manage Expectations
Our Panelists: ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Lessons Learned – JFC Perspective Keys to a Successful Collaboration ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Lessons Learned – JFC Perspective Keys to a Successful Collaboration ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
3rd Annual  Bio/Pharmaceutical Collaboration  and Transaction Accounting Conference September 22, 2009 Christian Blin, Vice President, sanofi-aventis Christopher Fenimore, Director of Finance, Regeneron
Overview of sanofi-aventis ,[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Regeneron Today Aflibercept (VEGF Trap)  cancer VEGF Trap-Eye wet  AMD  ARCALYST ®   (rilonacept) gout
Collaboration Agreements * 50% repayment from profits  ** plus $475MM of research funding over 5 years Oncology Eye Disease Antibodies Inflammation sanofi-aventis Bayer HealthCare sanofi-aventis – Upfront/milestone payments $130MM $115MM $85MM – Development costs paid by partner * 100% ~ 50% ~ 100%** – Profit split  —  Regeneron share US 50% 100% 50% 100% Japan ~ 35% royalty 50% 35-45% 100% ROW 50% 50% 35-45% 100% Milestones remaining Regulatory $400MM $70MM – – Sales – $135MM $250MM –
Aflibercept (VEGF Trap)
Aflibercept (VEGF Trap) Phase 3 Oncology Program ,[object Object],[object Object],[object Object],[object Object],Total # of Patients  VELOUR study: 2 nd  line metastatic colorectal cancer (+ leucovorin, fluorouracil & irinotecan) 1200 VANILLA study: 1 st  line metastatic pancreatic cancer  (+ gemcitabine) 630 VITAL study: 2 nd  line non-small cell lung cancer (+ docetaxel ) 900 VENICE study: 1 st  line metastatic hormone resistant prostate cancer  (+ docetaxel and prednisone ) 1240
Human Antibodies
Sanofi-Aventis Antibody Collaboration  ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Shaping Medicine, Changing Lives Dominic Piscitelli  Sr. Director Finance September  2009
An Historical Update Evolution From a Technology Platform to a Cancer Company ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Tarceva Collaboration Agreements  Highlights ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Tarceva Sales in the US and  Related Revenue Recognition ,[object Object],[object Object],[object Object],[object Object]
Key Committees ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Adolor/Pfizer Delta Collaboration Thomas Hess Former Chief Financial Officer of Adolor Corporation  (currently CFO of Yaupon Therapeutics) © 2008 Adolor Corporation. All rights reserved.
[object Object],[object Object],[object Object],[object Object],[object Object],Adolor/Pfizer Collaboration – Highlights
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Adolor/Pfizer Collaboration – Highlights
[object Object],[object Object],[object Object],[object Object],[object Object],Revenue Recognition Considerations
Purdue Alliance: $500M potential over 5 years Hedgehog inhibitor program and discovery pipeline Economics Independence ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],MedImmune/AstraZeneca alliance on Hsp90
HGS / GSK Collaboration
GSK / HGS Historical Collaborations ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
GSK / HGS BENLYSTA Collaboration ,[object Object],[object Object],[object Object],[object Object]
Roles & Responsibilities
HGSSK Governance Structure Joint Steering Committee ,[object Object],[object Object],Joint Development  Committee Global Joint  Marketing  Committee Joint Finance Committee & Sub-teams
Joint Finance Committee ,[object Object],[object Object]
Joint Finance Committee Role ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Panelist Q&A
JFC Panel Contact Information ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Mais conteúdo relacionado

Mais procurados

Pharmaceutical pricing and reimbursement usa
Pharmaceutical pricing and reimbursement usaPharmaceutical pricing and reimbursement usa
Pharmaceutical pricing and reimbursement usaNeha Kalal
 
2015/11 - IR - Sarilumab
2015/11 - IR - Sarilumab2015/11 - IR - Sarilumab
2015/11 - IR - SarilumabSanofi
 
Q3 2017 Results
Q3 2017 Results Q3 2017 Results
Q3 2017 Results Sanofi
 
2016/10 – IR call – Dupilumab
2016/10 – IR call – Dupilumab2016/10 – IR call – Dupilumab
2016/10 – IR call – DupilumabSanofi
 
Q2 2018 Results
Q2 2018 ResultsQ2 2018 Results
Q2 2018 ResultsSanofi
 
merck 2Q05 Earnings Release
merck 	2Q05 Earnings Releasemerck 	2Q05 Earnings Release
merck 2Q05 Earnings Releasefinance11
 
Q2 2021 Results
Q2 2021 ResultsQ2 2021 Results
Q2 2021 ResultsSanofi
 
Sanofi Q4 2021 Final Financial Results
Sanofi Q4 2021 Final Financial ResultsSanofi Q4 2021 Final Financial Results
Sanofi Q4 2021 Final Financial ResultsSanofi
 
Can-Fite BioPharma - Investor Presentation April 2021
Can-Fite BioPharma - Investor Presentation April  2021Can-Fite BioPharma - Investor Presentation April  2021
Can-Fite BioPharma - Investor Presentation April 2021RedChip Companies, Inc.
 
Pfe Cowen 2017 peh Overview Strategy Final
Pfe Cowen 2017 peh Overview Strategy FinalPfe Cowen 2017 peh Overview Strategy Final
Pfe Cowen 2017 peh Overview Strategy Finalpfizer_ir
 
Bristol-Myers Squibb 4Q 2008 Financial Results
Bristol-Myers Squibb 4Q 2008 Financial ResultsBristol-Myers Squibb 4Q 2008 Financial Results
Bristol-Myers Squibb 4Q 2008 Financial Resultsearningsreport
 
Sustaining innovation day 2017 presentation
Sustaining innovation day 2017 presentationSustaining innovation day 2017 presentation
Sustaining innovation day 2017 presentationSanofi
 
Strategic Management presentation for a Pharmaceutical Industry
Strategic Management presentation for a Pharmaceutical IndustryStrategic Management presentation for a Pharmaceutical Industry
Strategic Management presentation for a Pharmaceutical IndustryEngr. Carlo Senica, MBA, CPSM
 
Q3 2019 Results
Q3 2019 ResultsQ3 2019 Results
Q3 2019 ResultsSanofi
 
2018/01 – JP Morgan Healthcare Conference
2018/01 – JP Morgan Healthcare Conference2018/01 – JP Morgan Healthcare Conference
2018/01 – JP Morgan Healthcare ConferenceSanofi
 
Can-Fite (NYSE American: CANF) Presentation December 2019
Can-Fite (NYSE American: CANF) Presentation December 2019Can-Fite (NYSE American: CANF) Presentation December 2019
Can-Fite (NYSE American: CANF) Presentation December 2019RedChip Companies, Inc.
 
Dendreon Presentation
Dendreon PresentationDendreon Presentation
Dendreon Presentationafa4
 
Dsp investor deck jp morgan january 2017 final2
Dsp investor deck jp morgan january 2017 final2Dsp investor deck jp morgan january 2017 final2
Dsp investor deck jp morgan january 2017 final2DiplomatIR
 

Mais procurados (20)

Pharmaceutical pricing and reimbursement usa
Pharmaceutical pricing and reimbursement usaPharmaceutical pricing and reimbursement usa
Pharmaceutical pricing and reimbursement usa
 
2015/11 - IR - Sarilumab
2015/11 - IR - Sarilumab2015/11 - IR - Sarilumab
2015/11 - IR - Sarilumab
 
Q3 2017 Results
Q3 2017 Results Q3 2017 Results
Q3 2017 Results
 
2016/10 – IR call – Dupilumab
2016/10 – IR call – Dupilumab2016/10 – IR call – Dupilumab
2016/10 – IR call – Dupilumab
 
Q2 2018 Results
Q2 2018 ResultsQ2 2018 Results
Q2 2018 Results
 
Pfizer Inc
Pfizer IncPfizer Inc
Pfizer Inc
 
merck 2Q05 Earnings Release
merck 	2Q05 Earnings Releasemerck 	2Q05 Earnings Release
merck 2Q05 Earnings Release
 
Q2 2021 Results
Q2 2021 ResultsQ2 2021 Results
Q2 2021 Results
 
Sanofi Q4 2021 Final Financial Results
Sanofi Q4 2021 Final Financial ResultsSanofi Q4 2021 Final Financial Results
Sanofi Q4 2021 Final Financial Results
 
Can-Fite BioPharma - Investor Presentation April 2021
Can-Fite BioPharma - Investor Presentation April  2021Can-Fite BioPharma - Investor Presentation April  2021
Can-Fite BioPharma - Investor Presentation April 2021
 
Pfe Cowen 2017 peh Overview Strategy Final
Pfe Cowen 2017 peh Overview Strategy FinalPfe Cowen 2017 peh Overview Strategy Final
Pfe Cowen 2017 peh Overview Strategy Final
 
Canf can fite-presentation_january 2020
Canf can fite-presentation_january 2020Canf can fite-presentation_january 2020
Canf can fite-presentation_january 2020
 
Bristol-Myers Squibb 4Q 2008 Financial Results
Bristol-Myers Squibb 4Q 2008 Financial ResultsBristol-Myers Squibb 4Q 2008 Financial Results
Bristol-Myers Squibb 4Q 2008 Financial Results
 
Sustaining innovation day 2017 presentation
Sustaining innovation day 2017 presentationSustaining innovation day 2017 presentation
Sustaining innovation day 2017 presentation
 
Strategic Management presentation for a Pharmaceutical Industry
Strategic Management presentation for a Pharmaceutical IndustryStrategic Management presentation for a Pharmaceutical Industry
Strategic Management presentation for a Pharmaceutical Industry
 
Q3 2019 Results
Q3 2019 ResultsQ3 2019 Results
Q3 2019 Results
 
2018/01 – JP Morgan Healthcare Conference
2018/01 – JP Morgan Healthcare Conference2018/01 – JP Morgan Healthcare Conference
2018/01 – JP Morgan Healthcare Conference
 
Can-Fite (NYSE American: CANF) Presentation December 2019
Can-Fite (NYSE American: CANF) Presentation December 2019Can-Fite (NYSE American: CANF) Presentation December 2019
Can-Fite (NYSE American: CANF) Presentation December 2019
 
Dendreon Presentation
Dendreon PresentationDendreon Presentation
Dendreon Presentation
 
Dsp investor deck jp morgan january 2017 final2
Dsp investor deck jp morgan january 2017 final2Dsp investor deck jp morgan january 2017 final2
Dsp investor deck jp morgan january 2017 final2
 

Destaque

Cyberpolitics 2009 W5
Cyberpolitics 2009 W5Cyberpolitics 2009 W5
Cyberpolitics 2009 W5oiwan
 
Sizzle Capabilities
Sizzle CapabilitiesSizzle Capabilities
Sizzle Capabilitiesagroben
 
Kamloops.#2.nov.2012
Kamloops.#2.nov.2012Kamloops.#2.nov.2012
Kamloops.#2.nov.2012Faye Brownlie
 
Reach your peak stuff
Reach your peak stuffReach your peak stuff
Reach your peak stuffGreg Cox
 
Playing in the Sandbox by Wictor Wilén
Playing in the Sandbox by Wictor WilénPlaying in the Sandbox by Wictor Wilén
Playing in the Sandbox by Wictor WilénWictor Wilén
 
Charlotte, Ben And Chisanga
Charlotte, Ben And ChisangaCharlotte, Ben And Chisanga
Charlotte, Ben And Chisangaguest7dd83
 
Baile alumnado 2º ciclo 2013
Baile alumnado 2º ciclo 2013Baile alumnado 2º ciclo 2013
Baile alumnado 2º ciclo 2013XXX XXX
 
Hul cream report why-ratings_are_far_lower
Hul cream report why-ratings_are_far_lowerHul cream report why-ratings_are_far_lower
Hul cream report why-ratings_are_far_lowerJAYARAMAN IYER
 
Как найти, заполучить и удержать CTO
Как найти, заполучить и удержать CTOКак найти, заполучить и удержать CTO
Как найти, заполучить и удержать CTOGregory Sitnin
 
Cyberpolitics2009w4
Cyberpolitics2009w4Cyberpolitics2009w4
Cyberpolitics2009w4oiwan
 

Destaque (20)

Cyberpolitics 2009 W5
Cyberpolitics 2009 W5Cyberpolitics 2009 W5
Cyberpolitics 2009 W5
 
Sizzle Capabilities
Sizzle CapabilitiesSizzle Capabilities
Sizzle Capabilities
 
Langley primary
Langley primaryLangley primary
Langley primary
 
Sph 107 Ch 8
Sph 107 Ch 8Sph 107 Ch 8
Sph 107 Ch 8
 
Kamloops.#2.nov.2012
Kamloops.#2.nov.2012Kamloops.#2.nov.2012
Kamloops.#2.nov.2012
 
Reach your peak stuff
Reach your peak stuffReach your peak stuff
Reach your peak stuff
 
Playing in the Sandbox by Wictor Wilén
Playing in the Sandbox by Wictor WilénPlaying in the Sandbox by Wictor Wilén
Playing in the Sandbox by Wictor Wilén
 
Revamp
RevampRevamp
Revamp
 
Charlotte, Ben And Chisanga
Charlotte, Ben And ChisangaCharlotte, Ben And Chisanga
Charlotte, Ben And Chisanga
 
Stem And Leaf
Stem And LeafStem And Leaf
Stem And Leaf
 
Baile alumnado 2º ciclo 2013
Baile alumnado 2º ciclo 2013Baile alumnado 2º ciclo 2013
Baile alumnado 2º ciclo 2013
 
7fevrier2009
7fevrier20097fevrier2009
7fevrier2009
 
受動態(1)
受動態(1)受動態(1)
受動態(1)
 
Singular And Plural
Singular And PluralSingular And Plural
Singular And Plural
 
Hul cream report why-ratings_are_far_lower
Hul cream report why-ratings_are_far_lowerHul cream report why-ratings_are_far_lower
Hul cream report why-ratings_are_far_lower
 
Как найти, заполучить и удержать CTO
Как найти, заполучить и удержать CTOКак найти, заполучить и удержать CTO
Как найти, заполучить и удержать CTO
 
Cyberpolitics2009w4
Cyberpolitics2009w4Cyberpolitics2009w4
Cyberpolitics2009w4
 
Sph 107 Ch 9
Sph 107 Ch 9Sph 107 Ch 9
Sph 107 Ch 9
 
Carbonara coding
Carbonara codingCarbonara coding
Carbonara coding
 
ikd312-07-ddl
ikd312-07-ddlikd312-07-ddl
ikd312-07-ddl
 

Semelhante a Bio Pharm Collaborations 9 09

Dendreon Strategic Analysis
Dendreon Strategic AnalysisDendreon Strategic Analysis
Dendreon Strategic Analysisafa4
 
Clinical Recruitment Planning Strategies
Clinical Recruitment Planning StrategiesClinical Recruitment Planning Strategies
Clinical Recruitment Planning StrategiesMFinch3777
 
Early asset development and commercialization: Partnering for success
Early asset development and commercialization: Partnering for successEarly asset development and commercialization: Partnering for success
Early asset development and commercialization: Partnering for successCello Health
 
Bellus corporate presentation fall final
Bellus corporate presentation fall finalBellus corporate presentation fall final
Bellus corporate presentation fall finalBellusHealth
 
Advanced Medical Isotope Corp. Presentation
Advanced Medical Isotope Corp. PresentationAdvanced Medical Isotope Corp. Presentation
Advanced Medical Isotope Corp. PresentationRedChip Companies, Inc.
 
Catalent (CTLT) Equity Report
Catalent (CTLT) Equity ReportCatalent (CTLT) Equity Report
Catalent (CTLT) Equity ReportLeon Stempert
 
The value of early asset development and commercialization
The value of early asset development and commercializationThe value of early asset development and commercialization
The value of early asset development and commercializationCello Health
 
Biotechnology 1
Biotechnology 1Biotechnology 1
Biotechnology 1sokraturk
 
Johnson & Johnson Pharmaceutical Business Review
Johnson & Johnson Pharmaceutical Business ReviewJohnson & Johnson Pharmaceutical Business Review
Johnson & Johnson Pharmaceutical Business ReviewDeepa K
 
Cbi Revenue Recognition Panel Slides 031709 Final
Cbi Revenue Recognition Panel Slides 031709 FinalCbi Revenue Recognition Panel Slides 031709 Final
Cbi Revenue Recognition Panel Slides 031709 Finalthess1121
 
Can-Fite BioPharma - Investor Presentation January 2021
Can-Fite BioPharma - Investor Presentation January 2021Can-Fite BioPharma - Investor Presentation January 2021
Can-Fite BioPharma - Investor Presentation January 2021RedChip Companies, Inc.
 
2018/09 – BoA-ML HC Conference
2018/09 – BoA-ML HC Conference2018/09 – BoA-ML HC Conference
2018/09 – BoA-ML HC ConferenceSanofi
 
Bellus corporate presentation january 2014 v final
Bellus corporate presentation january 2014 v finalBellus corporate presentation january 2014 v final
Bellus corporate presentation january 2014 v finalBellusHealth
 
Invitae Investor Overview - August 2016
Invitae Investor Overview - August 2016Invitae Investor Overview - August 2016
Invitae Investor Overview - August 2016invitaeir
 
Second quarter 2022 results
Second quarter 2022 results Second quarter 2022 results
Second quarter 2022 results Sanofi
 
Arm q2 2015_web%20version_final
Arm q2 2015_web%20version_finalArm q2 2015_web%20version_final
Arm q2 2015_web%20version_finalJohn Redaelli
 
Agm 2013 presentation en (final)
Agm 2013 presentation en (final)Agm 2013 presentation en (final)
Agm 2013 presentation en (final)BellusHealth
 
Newtech advant-business-plan9
Newtech advant-business-plan9Newtech advant-business-plan9
Newtech advant-business-plan9Yousaf Khan
 

Semelhante a Bio Pharm Collaborations 9 09 (20)

Dendreon Strategic Analysis
Dendreon Strategic AnalysisDendreon Strategic Analysis
Dendreon Strategic Analysis
 
Clinical Recruitment Planning Strategies
Clinical Recruitment Planning StrategiesClinical Recruitment Planning Strategies
Clinical Recruitment Planning Strategies
 
Early asset development and commercialization: Partnering for success
Early asset development and commercialization: Partnering for successEarly asset development and commercialization: Partnering for success
Early asset development and commercialization: Partnering for success
 
Bellus corporate presentation fall final
Bellus corporate presentation fall finalBellus corporate presentation fall final
Bellus corporate presentation fall final
 
Advanced Medical Isotope Corp. Presentation
Advanced Medical Isotope Corp. PresentationAdvanced Medical Isotope Corp. Presentation
Advanced Medical Isotope Corp. Presentation
 
Catalent (CTLT) Equity Report
Catalent (CTLT) Equity ReportCatalent (CTLT) Equity Report
Catalent (CTLT) Equity Report
 
The value of early asset development and commercialization
The value of early asset development and commercializationThe value of early asset development and commercialization
The value of early asset development and commercialization
 
Biotechnology 1
Biotechnology 1Biotechnology 1
Biotechnology 1
 
Johnson & Johnson Pharmaceutical Business Review
Johnson & Johnson Pharmaceutical Business ReviewJohnson & Johnson Pharmaceutical Business Review
Johnson & Johnson Pharmaceutical Business Review
 
Cbi Revenue Recognition Panel Slides 031709 Final
Cbi Revenue Recognition Panel Slides 031709 FinalCbi Revenue Recognition Panel Slides 031709 Final
Cbi Revenue Recognition Panel Slides 031709 Final
 
Genentech
GenentechGenentech
Genentech
 
Can-Fite BioPharma - Investor Presentation January 2021
Can-Fite BioPharma - Investor Presentation January 2021Can-Fite BioPharma - Investor Presentation January 2021
Can-Fite BioPharma - Investor Presentation January 2021
 
2018/09 – BoA-ML HC Conference
2018/09 – BoA-ML HC Conference2018/09 – BoA-ML HC Conference
2018/09 – BoA-ML HC Conference
 
Pfizer Inc
Pfizer IncPfizer Inc
Pfizer Inc
 
Bellus corporate presentation january 2014 v final
Bellus corporate presentation january 2014 v finalBellus corporate presentation january 2014 v final
Bellus corporate presentation january 2014 v final
 
Invitae Investor Overview - August 2016
Invitae Investor Overview - August 2016Invitae Investor Overview - August 2016
Invitae Investor Overview - August 2016
 
Second quarter 2022 results
Second quarter 2022 results Second quarter 2022 results
Second quarter 2022 results
 
Arm q2 2015_web%20version_final
Arm q2 2015_web%20version_finalArm q2 2015_web%20version_final
Arm q2 2015_web%20version_final
 
Agm 2013 presentation en (final)
Agm 2013 presentation en (final)Agm 2013 presentation en (final)
Agm 2013 presentation en (final)
 
Newtech advant-business-plan9
Newtech advant-business-plan9Newtech advant-business-plan9
Newtech advant-business-plan9
 

Bio Pharm Collaborations 9 09

  • 1. CBI’s 3 rd Annual Bio/Pharmaceutical Collaboration and Transaction Accounting Conference September 22, 2009 Joint Finance Committee Perspectives on How to Best Work with Collaborators and Manage Expectations
  • 2.
  • 3.
  • 4.
  • 5. 3rd Annual Bio/Pharmaceutical Collaboration and Transaction Accounting Conference September 22, 2009 Christian Blin, Vice President, sanofi-aventis Christopher Fenimore, Director of Finance, Regeneron
  • 6.
  • 7.
  • 8. Collaboration Agreements * 50% repayment from profits ** plus $475MM of research funding over 5 years Oncology Eye Disease Antibodies Inflammation sanofi-aventis Bayer HealthCare sanofi-aventis – Upfront/milestone payments $130MM $115MM $85MM – Development costs paid by partner * 100% ~ 50% ~ 100%** – Profit split — Regeneron share US 50% 100% 50% 100% Japan ~ 35% royalty 50% 35-45% 100% ROW 50% 50% 35-45% 100% Milestones remaining Regulatory $400MM $70MM – – Sales – $135MM $250MM –
  • 10.
  • 12.
  • 13. Shaping Medicine, Changing Lives Dominic Piscitelli Sr. Director Finance September 2009
  • 14.
  • 15.
  • 16.
  • 17.
  • 18. Adolor/Pfizer Delta Collaboration Thomas Hess Former Chief Financial Officer of Adolor Corporation (currently CFO of Yaupon Therapeutics) © 2008 Adolor Corporation. All rights reserved.
  • 19.
  • 20.
  • 21.
  • 22.
  • 23.
  • 24. HGS / GSK Collaboration
  • 25.
  • 26.
  • 28.
  • 29.
  • 30.
  • 32.

Notas do Editor

  1. Possible 3rd blue background
  2. Message is we have negotiated very favorable deals. In addition to substantial upfront and development funding from our collaborators, we own 50% of potential profits in the US in the sanofi deals; 100% of US and 50% ROW in the Bayer deal; and we own 100% of ARCALYST.
  3. VelociSuite is a suite of technologies for quickly and cost-effectively identifying and validating novel drug targets and then developing highly specific human antibodies against those targets. We are proud that the NIH selected the target ID and validation technologies, VelociGene and VelociMouse, for its Knockout Mouse Project. In our own labs, we have identified and validated new targets in one year – work that often takes HOW LONG using more conventional approaches.
  4. The value of our human antibody technology has been recognized – and monetized – by sanofi-aventis, which in 2007 entered into a global collaboration with us to discover, develop, and commercialize therapeutic human antibodies. [Continue talking through the slide.]