On September 12, 2024, Morrison Foerster, in collaboration with Bayer Co.Lab, hosted a pivotal panel discussion under the title “MoForum Charting the Biotech Startup Journey” at Morrison Foerster’s Berlin office.
The event provided an in-depth exploration of the biotech startup ecosystem, particularly focusing on the journey from foundation and early-stage funding to growth, scaling, and successful exits. The event was a tremendous success, drawing attention to the vibrant biotech scene in Berlin and Germany and providing valuable insights into the challenges and opportunities faced by startups in this dynamic sector.
Wolfgang Schönig, a partner at Morrison Foerster specializing in Life Sciences Transactions and Licensing, led through the evening. He was joined by an esteemed panel of industry leaders, including Ruth Shah (Head of Bayer Co.Lab Berlin), Anela Vukoja (Principal at Apollo Health Ventures), Elisa Kieback (Co-founder and CTO of T-knife Therapeutics), Stefanie Urlinger (Chief Scientific Officer of Cimeio Therapeutics), Nikita Sharma (Principal at Versant Ventures), and Jan‑Philipp Kruse (Senior Director at Lilly Ventures).
Key Takeaways from the Panels Discussion
The panel discussion was segregated into four different chapters curated along the lifecycle of a Biotech company. The topics covered in the discussion and key take aways include:
- Chapter 1: Foundation and Early-stage Funding
The discussion highlighted the critical role of technology transfer and the need for streamlined processes to facilitate the transition from academic research to commercial ventures. Panelists emphasized the importance of public funding in setting attractive incentives for private investments. Key takeaways included the need for academia to be measured by tech transfer impact and the importance of creating good data to attract private investments. - Chapter 2: Growth and Scaling
Insights from this session underscored the necessity of shifting from an academic to a commercial mindset for successful growth and scaling. The panelists discussed the challenges of attracting growth funding and the strategic importance of establishing a U.S. presence to attract more risk-tolerant investors. Critical aspects covered included the need to professionalize processes, particularly regarding quality and compliance, and the importance of having a clear focus and a lean operational model. - Chapter 3: Partnering and Internationalization
This segment of the discussion focused on the significance of forming partnerships with Big Pharma and the advantages of operating across multiple biotech hubs, including the United States and Germany. The panelists shared their experiences and strategies for successful international expansion. Key points included the benefits of different ecosystems and the importance of new ways to collaborate. - Chapter 4: Achieving Successful Exits
The final chapter dealt with exit strategies, highlighting various scenarios and the importance of aligning these with the goals of stakeholders. The discussion provided insights into managing stakeholder relationships throughout the exit process to ensure the continuation of innovation. The panelists discussed the different opinions on exit scenarios and the critical milestone of bringing innovation forward.
Conclusion
The MoForum on Charting the Biotech Startup Journey offered invaluable insights and fostered discussions that underscored the collaborative spirit necessary to drive innovation in the biotech sector. Morrison Foerster and Bayer Co.Lab are proud to have facilitated this engaging and informative event.
Watch this spot for further information on the German and Berlin Biotech scene.
