Looking back at hollandbio’s third CEO & Founder event in Amsterdam

Last Tuesday, hollandbio’s CEO & Founder network brought together 50 biotech CEO’s and founders to meet, talk and network among peers. Ask a biotech entrepreneur about the biggest hurdles between lab and market and attracting funding will probably be high on the list. For this exclusive event, hollandbio members came together at the Nauta Dutilh office in Amsterdam to discuss that very important topic: funding.  

Doing a deal requires a sharp eye and a well-organised process

To set the scene, Ruud Smits, managing partner at Nauta Dutilh, pointed out some of the pitfalls and challenges of biotech funding. When closing a deal, the devil is often in the details. Options and choices can have major consequences, urging the need to be very critical when choosing investors and always checking agreements and contracts thoroughly. And – as always – making sure you seek advice and learn from peers or experts, is the wise thing to do.

Biotech funding requires careful planning and strategy

After the insightful intro, hollandbio’s Wieteke welcomed three renowned biotech entrepreneurs to the stage to join the panel discussion. Maria van Dongen, who, after gaining extensive drug development experience at several leading pharmaceutical companies, co-founded the Swiss Allegria Therapeutics. As the company’s CEO, she recently secured $5.1 million in seed extension funding to progress its lead program towards pre-clinical candidates.

Maarten Bosch joined cultured meat pioneer Mosa Meat seven years ago, after an extensive career in various start-ups in the corporate sector. As the company’s CEO, Maarten secured €15 million in funding early this year – a success even more impressive given the struggle and even shut down other cultivated meat companies currently face.

Finally, serial entrepreneur and investor Ton Logtenberg took the stage. Ton is no stranger to biotech success, being instrumental in the successful growth and multibillion-dollar exits of Crucell and Merus. As CEO of his new endeavour Gyes, Ton is well on his way to proving his brilliance once again, pushing forward a new, paradigm-shifting platform approach in precision antibody therapeutics.

Together, the panellists gave their personal and open takes and learnings on funding strategy, risks, and opportunities. Some insights:

• There is no denying that the Chinese biotech industry is growing and is hard to outcompete on costs and speed. Yet there have been some examples of European companies that do similarly well. And yes, geopolitics is a force to consider; the panel agreed that if played well, competing with Chinese biotech still is possible.
• To compete, Gyes carefully designed a distinctive structure and IP strategy:  a holding company that not only fosters and perfects the platform technology, but also acts as the perfect all-in service provider for its spin-out companies with specific programs. Combined with Gyes’ strategy not to file IP for its technology, might prove to be a game-changer in biotech entrepreneurship.
• The importance of scenario planning was another topic the CEO’s agreed on. Without downsizing the need to design the perfect funding strategy too, success often results from carefully designed back-up plans – scenarios B, C, and D – as scenario A hardly ever plays out. Being prepared helps to seize other opportunities when they present themselves.
• As most investors are flooded with business proposals, standing out is key to success. Making sure you understand an investor’s mandate and choose the best fit with your business helps you to do just that. Our panellists agreed that for a successful fundraise you need a compelling story as well as scientific excellence.

After this vibrant and interactive discussion, there was ample room to meet and continue the conversation over drinks – a high-level networking opportunity amongst peers highly valued by the attending CEOs and founders.

See you next time at our CEO & Founder event!