MAPPING THE BUSINESS OF NEUROSCIENCE
Neurotech Clusters 2010
LEADING REGIONS IN THE GLOBAL NEUROTECHNOLOGY INDUSTRY 2010 - 2020
About Neurotechnology Industry Organization
The Neurotechnology Industry Organization (NIO) is a non-profit trade association representing companies involved in neuroscience (pharmaceuticals, biologics, cell-based therapeutics, medical devices and diagnostics), brain research institutes and advocacy groups across the United States and throughout the world. NIO was founded in 2006 and has attracted over 90 members in support of our mission to “give the brain a voice.” www.neurotechindustry.org
About NeuroInsights As the neurotechnology market authority, NeuroInsights helps investors, industry and society understand and profit from the rapid growth in the market for treatments of brain and nervous system illnesses. NeuroInsights provides investment reports, market analysis, industry events and strategic advisory services to large corporations, venture funds, startups, governments and financial institutions. www.neuroinsights.com
REPORT AUTHORS Zack Lynch, MA Founder, Executive Director Neurotechnology Industry Organization [email protected]
Corey M. McCann, MD, PhD Analyst NeuroInsights [email protected]
CONTRIBUTING AUTHOR CONTRIBUTING RESEARCHER Casey Crawford Lynch, MS Tim Rasmus, MD Managing Director Neuropathologist NeuroInsights, LLC Toronto General Hospital [email protected] [email protected]
The information, data and estimates in this report have been obtained from sources believed to be reliable. Every reasonable effort has been made to verify their accuracy, but accuracy cannot be guaranteed. The information and opinions contained in this report are intended for informational purposes only and are not intended as investment advice.
© Copyright 2009 NeuroInsights, LLC All Rights Reserved “The Neurotechnology Industry 2009 Report” and “Neurotech Insights” and “The Neurotech Index” are trademarks of NeuroInsights, LLC. Table of Contents
Executive Summary 5 The Global Neurotech Economy 7 Role of Geographic Clusters in Neurotechnology 8 Neurotechnology Industry Taxonomy 9 Neuropharmaceuticals 11 Neurodevices 12 Neurodiagnostics 13 Neurotech Cluster Methodology 14 Neurotech Region Rankings 17 Top Tier Neurotech Clusters 19 San Francisco Bay Area, CA 19 Greater Boston, MA 20 Second Tier Neurotech Clusters 22 Greater New York, NY 22 London/Cambridge, United Kingdom 23 San Diego, CA 25 LA/Irvine, CA 27 Emerging Neurotech Clusters 29 Baltimore/Washington DC 29 Greater Philadelphia, PA 30 Minneapolis, MN 31 Nascent Neurotech Clusters 33 Montreal, Canada 33 Basel/Zurich, Switzerland 33 Tel Aviv, Israel 34 Seattle, WA 36 Stockholm, Sweden 37 Tokyo, Japan 38 Regions to Watch 40 Munich, Germany 40 Raleigh/Durham, NC 40 New Haven, CT 41 Chicago, IL 41 Shanghai, China 41 Cleveland, OH 42
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Public Policy Recommendations 44 Report Data- Breakdown by Individual Metrics 45 Top Regions for Neurotech Companies 45 Top Regions for Private Neurotech Companies 46 Top Regions for Public Neurotech Companies 47 Top Regions for Neuropharmaceutical Companies 48 Top Regions for Neurodevice Companies 50 Top Regions for Neurodiagnostic Companies 52 Top Regions for Neurotech Risk Capital 53 Top Regions for Neurotech Infrastructure 55 Neurotech Education 56 Neurotech Healthcare 58 Neurotech Research 63 Neurotech in Big Pharma 66 Big Pharma Neurotechnology Rankings 67 Top Regions for Big Pharma Operations 68 Top Regions for Big Pharma Research 68 Company Summaries 69 Resources 90 About the Report Authors 91
4 Executive Summary
Big economic payoffs will accrue to communities that successfully nurture the neurotechnology industry. The close collaboration of knowledge-intensive institutions, investors, businesses and workers fosters high-quality job creation, influx of investment capital and more robust economic growth.
Neurotechnology represents the largest untapped medical market, and there are numerous opportunities available to regions that can leverage the dramatic growth of neurotech. Given the promise of new treatments, coupled with a patient population of over 2 billion people who suffer from a brain-related illness, neurotechnology has become a leading recipient of life science venture funding worldwide.
Neurotechnology today is a truly a global industry with companies and cutting-edge research in the U.S., Europe, and Asia. As a nearly a $150-billion-a-year industry, neurotechnology, includes over 800 public and private organizations researching, developing and marketing pharmaceuticals, biologics, medical devices, as well as diagnostic and surgical equipment for the treatment of neurological, psychiatric illness and nervous system injuries.1 Given its size and growth trajectory, neurotechnology will play an important role in regional economic development in the coming decades.
Brain-related illness generates more healthcare related costs and lost income than any other area of health: an estimated $2.0 trillion annually worldwide and $1.3 trillion annually in the U.S. Neurotechnology companies face fundamentally different investment requirements, research and development challenges, regulatory milestones and social drivers that set them apart from other life science and health care companies. For example, delivering therapeutics to the brain requires different techniques and technologies than is required for other organs such as the heart or kidney.
In addition to the race for discovering more effective neurotherapeutics, there is another race underway: one that will determine where the primary geographic locations of the neurotech
1 The Neurotechnology Industry 2009 Report: Drugs, Devices and Diagnostics for the Brain and Nervous System, Market Analysis and Strategic Investment Guide of the Global Neurological Disease and Psychiatric Illness Markets, published by NeuroInsights, LLC, May 2009. www.neuroinsights.com
5 industry reside and prosper. The economic outcomes of the formation and growth of these neurotechnology clusters will have long lasting implications on employment, infrastructure development, and regional competitiveness.
The 21st century race to be a leading cluster for neurotech has many regional entries from the U.S. and around the world. Eight of the nine leading neurotech clusters are within the U.S. Many organizations exist with ties to the neurotechnology industry; in this report, over 1400 individual entities were catalogued, assigned geographies and classified according to NeuroInsights neurotechnology industry taxonomy (see page 9). Regions across the globe were evaluated according to the number of companies, access to risk capital and neurotechnology infrastructure.
The two Top Tier Clusters are the Greater San Francisco Bay Area and the Greater Boston Area. These two regions represent the geographic centers of neurotechnology innovation, growth and development. The four Second Tier Clusters are New York/New Jersey, London/Cambridge, San Diego and Los Angeles/Irvine exhibit all of the necessary ingredients for significant innovation and growth in neurotechnology although they are less developed than the top tier clusters. The three Emerging Clusters are Baltimore, Philadelphia, and Minneapolis. Each posses significant resources and are poised for expansion in the years to come. Several other regions are also on the radar and while not yet clusters, will provide a significant proportion of the neurotechnology innovation in the years to come. These regions include our Nascent Clusters (Montreal, Basel/Zurich, Tel Aviv, Seattle, Stockholm, Tokyo) as well as our Regions to Watch (Munich, New Haven, Chicago, Shanghai, Raleigh/Durham, and Cleveland).
Data gathered for the report also reveals several other interesting regional trends. New York/New Jersey is the leading region for public neurotechnology companies. Boston MA and Baltimore/DC are the leading regions for neurotechnology infrastructure based on strong graduate programs and hospital rankings in neuroscience related areas. The San Francisco Bay Area, Minneapolis, MN and Cleveland, OH are major centers for neurodevice development.
6 The Global Neurotech Economy
Information provided from “The Neurotechnology Industry 2009 Report: Drugs, Devices and Diagnostics for the Brain and Nervous System” published by NeuroInsights, San Francisco.
Copyright Reminder: Cite the NeuroInsights report if any of below data are used in any way Market Overview The neurotechnology industry includes companies researching, developing and marketing pharmaceuticals, biologics, cell-based therapeutics and medical devices, as well as diagnostic and surgical equipment for the treatment of neurological diseases, nervous system ailments and psychiatric illnesses. The global economic burden of brain-related illnesses has eclipsed $2 trillion a year. The estimated US economic burden of brain-related illnesses exceeds $1.3 trillion. Neurotechnology addresses the largest unmet medical market: 2 billion people worldwide, including nearly 100 million in North America.
Industry Overview Over 850 companies were involved in the neurotechnology industry in 2008. In 2008, neurotech companies generated revenues of $144.5 billion with 9.0% growth The neurotechnology industry has three sectors: – Neuropharmaceuticals with revenues of $121.6 billion and 9.3% annual growth – Neurodevices with revenues of $6.1 billion and 18.6% annual growth – Neurodiagnostics with revenues of $16.8 billion and 3.7% annual growth
Venture Financing In 2008, venture capital investment in neurotech companies (including drugs, devices and diagnostics) dropped 22% to $1.44 billion. Venture funding of private neurotech companies climbed over 225% from 1999 to 2008. From 2000 to 2008, venture funds invested over $12 billion in neurotech companies.
Public Market Activity As of Sept. 30, 2009 the NASDAQ NeuroInsights Neurotech Index (^NERV) is down 25.3% from a start date of Sept. 25, 2007, compared to a loss of 1.6% in the NASDAQ Biotech Index and loss of 30.7% for the S&P 500.
Global Growth Drivers Since 1997, annual funding for basic neuroscience by the US National Institutes of Health (NIH) increased from $1 billion in 1997 to more than $5 billion in 2008. In 2008, the National Neurotechnology Initiative Act a $1 billion bill aimed at accelerating treatments for the brain and nervous system, was introduced into the US Congress. Neurotech-related US patent claims have soared 200% in the past 10 years compared to 60% growth in overall patent claims. There are more than 65,000 Ph.D. neuroscientists worldwide. More than 300 scientific journals related to neuroscience are currently in publication. In 2006, the Neurotechnology Industry Organization (NIO) emerged as the trade association representing companies involved in commercial neuroscience, brain research centers and patient advocacy groups across the US and the world.
7 Role of Geographic Clusters in Neurotechnology
A neurotechnology cluster is a geographic concentration of interconnected companies, suppliers, and service providers in related industries as well as associated institutions in fields that compete but also cooperate. Established and emerging neurotech clusters have developed by a coincidence of factors, i.e. research facilities, educated workforce, venture capital, experienced managers and proximity of supplier networks. Emerging and nascent clusters are developing from focused initiatives, but as has been true for both information technology and biotechnology, not all locations will succeed.
Clusters are interconnected by the flow intellectual and economic capital. This flow is stronger than the one linking them to the rest of the local economy. Cluster members include government and nongovernment entities such as public/private partnerships, trade associations, universities, think tanks, companies, venture capitalists, patent attorneys, and even accounting and auditing firms in the case of neurotechnology. Because knowledge is generated, transmitted, and shared more efficiently in close proximity, economic activity based on new knowledge has a high propensity to cluster in a geographic area.2
A leading neurotechnology cluster will have more innovations, less of which will migrate to other regions, or at least at a slower rate. Regions excel to the extent that the firms and talent can innovate successfully by being there, rather than elsewhere. This is particularly important for an industry such as neurotechnology whose survival is based upon continuous innovation.
2 The Greater Philadelphia Life Science Cluster 2009, Milken Institute, May 2009.
8 Neurotechnology Industry Taxonomy
NeuroInsights’ industry taxonomy clarifies the complex and inconsistent terminology currently employed by industry analysts to describe markets for brain-related treatments and diagnostics. The taxonomy’s structure and content are based on extensive research and interviews with corporate executives, venture capitalists, investment bankers and industry leaders. The NeuroInsights framework includes three industry sectors; neuropharmaceuticals, neurodevices and neurodiagnostics, which are then divided into the ten markets seen below.
The lack of a comprehensive industry analysis for commercial neuroscience has resulted in incomplete investment scrutiny and a cloudy view of competitive dynamics. Analysts generally consider pharmaceuticals, devices and diagnostics separately. However, these sectors are becoming increasingly intertwined both competitively and cooperatively and, therefore, must be considered together. For instance, neurodevices are targeting neuropharmaceutical treatment resistant populations while neuropharma companies are developing diagnostics based on proprietary knowledge. Moreover, technologies across these three sectors are converging, creating more effective treatments such as drug pumps for pain management or delivery of treatments to the brain.
9 Traditionally, the term “CNS” meaning central nervous system, has been used to encompass a portion of the neuropharmaceutical market. However, as the field has grown, this term has become less useful as analysts use it to refer to completely different sets of diseases. For example, some analysts include only psychiatric illnesses, while others include neurological diseases like Alzheimer’s, Parkinson’s, or epilepsy. Pain, sensory disorders, stroke, head injury and spinal cord injury currently do not have a regular categorization, but are part of the neurotechnology industry, as treatments are often directly targeted to the brain, nerves and neurotransmitter systems.
Similarly, in devices, the “neurology” sector will sometimes be used to refer to neurovascular devices and sometimes to neuromodulation technology. Neurosurgical tools, like navigation equipment and radiosurgery systems, are often left out completely despite the fact that neurologists must choose between stimulators and ablative surgery when treating conditions like late-stage Parkinson’s or refractive epilepsy. The NeuroInsights framework is the most comprehensive methodology to understand and profit from the growth of technology and markets related to the brain and nervous system.
10 NEUROPHARMACEUTICALS The neuropharmaceutical sector includes companies that develop pharmaceuticals, biologics, and cell-based therapeutics for the brain and nervous system. In 2008, global neuropharmaceutical sales were $121.6 billion, with 9.3% annual growth. This is compared to $773 billion and 8.1% growth (4.2% growth in constant dollars) for the overall pharmaceutical market, according to IMS Health. Neuropharmaceuticals are the top sales category of drugs worldwide. Therapeutics currently generating the highest revenues are treatments for pain, antipsychotics, antiepileptics, and antidepressants.
Despite progress in the development of new treatments, low efficacy and side effects associated with current drugs leave room for innovative treatments to achieve rapid market uptake. For example, current treatments for Alzheimer’s only offer symptomatic relief and mainly only for the early stages of the disease. Alzheimer’s affects 10% of Americans over age 65 and 50% over 85. With an average duration of eight to 10 years from onset until death, the annual cost of Alzheimer’s to the US economy now exceeds $145 billion. The life expectancy of the general population is increasing such that the proportion of the world population over age 60 is forecast by the World Health Organization to double between 2000 and 2050. This suggests that the number of individuals suffering from age related diseases like Alzheimer’s disease, Parkinson’s disease, stroke, and sensory disorders will also increase, creating a substantial market opportunity for neuropharmaceutical companies.
The neuropharmaceutical sector has three primary treatment markets:
• Neurology markets include Alzheimer’s disease, epilepsy, mild cognitive impairment, migraine, multiple sclerosis, Parkinson’s disease and stroke.
• Psychiatry markets include addiction, anxiety, attention disorders, depression, obesity, and schizophrenia.
• Sensory markets include conditions like neuropathic pain, retinal degenerative disorders, and sensorineural hearing loss.
11 NEURODEVICES The neurodevice sector includes companies which develop medical devices, stimulators, surgical equipment and specialized software solutions that treat brain and nervous system illnesses. In 2008, neurodevices generated estimated revenues of $6.1 billion, with 18.6% annual growth, according to data compiled by NeuroInsights. This compares to $5.2 billion in revenue and 20% growth in 2007. Neurodevices include successful, established products such as cochlear implants for the hearing impaired, neurostimulation devices for the treatment of pain and neurovascular interventions for the prevention of stroke.
Advances in technology, higher rates of patient and physician outreach, and expanding health care reimbursement are driving growth. Neurodevice companies will increasingly compete for market share and contribute to the growth of novel markets, particularly where neuropharmaceuticals are unsuccessful, for example in stroke and treatment-resistant patients with neuropathic pain, depression, and epilepsy. NeuroInsights believes the market for neurodevices will continue to grow rapidly, and that it has the potential to become as large as the $18 billion cardiac device market within the next 15 years.
The neurodevice sector has four markets:
• Neuroprosthetic devices substitute for an injured part of the body, including cochlear implants, retinal implants, motor prosthetics and brain-computer interfaces.
• Neuromodulation devices provide therapeutic modulation to restore desired function, including deep brain stimulation, transcranial magnetic stimulation, spinal cord stimulation, vagus nerve stimulation, peripheral nerve stimulation, and implantable drug pumps.
• Neurosurgical devices include products like radiosurgical devices, surgical navigation systems and neurovascular intervention devices.
• Neurosoftware includes neuroscience-based software solutions and neurofeedback systems to promote brain fitness and potentially improve symptoms of a range of neurological diseases and psychiatric illnesses.
12 NEURODIAGNOSTICS The neurodiagnostic sector is composed of companies providing tools to diagnose and monitor neurological and psychiatric illnesses. Customers for neurodiagnostics include neuropharma and neurodevice companies, hospitals, clinics and university research centers. In 2008, the neurodiagnostics sector had estimated revenues of $16.8 billion, growing at 3.7%, according to data compiled by NeuroInsights. NeuroInsights expects that neurodiagnostic products will continue to see healthy growth as brain imaging and in vitro protocols become established as criteria for disease diagnosis in psychiatry and neurology.
NeuroInsights has identified three neurodiagnostic markets:
• Neuroimaging equipment includes brain scanning and patient monitoring equipment like magnetic resonance imaging (MRI), positron emission tomography (PET), single photon emission computed tomography (SPECT), computed tomography (CT) and electro-encephalography (EEG).
• In Vitro Diagnostics includes biomarkers, genetic testing, and pharmacogenomics.
• Neuroinformatics solutions include brain imaging analysis software, data tracking and processing software, and proprietary patient databases that correlate imaging data or other patient data with treatment outcomes.
13 Neurotech Cluster Methodology
In this study, we evaluated regions worldwide according to the following factors; the number of neurotechnology companies (neuropharmaceutical, cell-based therapeutics, neurodevice, and neurodiagnostic), local access to risk capital (private and public), and social infrastructure (hospitals, universities and research institutes) to support current and future innovation. Each of the above three factors was equally weighted to calculate a regions’ composite score. Scores were normalized on a scale of 100 points with the number one region assigned a score of 100.
A geographic region was defined as the greater of 50 miles or a 1-hour drive from a city center. For some regions, multiple similarly sized cities were located within the same region and so they were considered as a single region (of the regions described herein, only Basel/Zurich and Raleigh/Durham qualify). In cases of high population density like the Northeast United States, regions may be slightly smaller than the above stated values (i.e. New Haven). In cases where an asset fell within the boundaries of multiple regions, it was assigned to the region to whose geographic center it was closest. Large corporations with multiple locations were assigned multiple geographic designations to accurately represent both headquarters, and research and development. In short, efforts were made so that regional designations reflect available capital; financial, human, intellectual and otherwise.
The total number of companies was calculated by crosschecking the list of companies contained in the Neurotech Insights Online Archive and the Neurotechnology Industry 2009 Report, both exhaustive collections of data on the neurotechnology industry, with information from individual company websites and press releases. A particular market (neurodevice, neuropharmaceutical, neurodiagnostics) was assigned to each firm by analyzing items in production as well as the research pipeline and then assigning a label according to the most prominent area (i.e. a neurotech company with four devices and one diagnostic would be assigned the title of “neurodevice”). Information about the financial status of a company, either public or private, was gathered from the Neurotech Insights Online Archive and the Neurotechnology Industry 2009 Report, company website, press releases and Google finance.
Risk capital sources were calculated from the list of firms who have made neurotechnology investments between 2007 and 2009, contained in the Neurotech Insights Online Archive and the list of leading neurotechnology firms in The Neurotechnology Industry 2009 Report. To qualify as a source of neurotechnology risk capital, we required that a firm must have at least one prior investment in neurotechnology. A region was assigned according to a firm’s offices on
14 the company website. All investment information was taken from the firm’s website and press releases.
Neurotechnology infrastructure was calculated by creating an equally weighted composite score of 1) neurotechnology education, 2) neurotechnology healthcare and 3) neurotechnology research, as defined below. It should be noted that data was not available to directly compare infrastructure within the U.S. and outside the U.S. and so for foreign centers, the infrastructure score was omitted when calculating the overall region score.
A score for education was calculated by creating a composite score for graduate education in psychology and neurobiology; program data and rankings came from US News and World Report 2009 rankings. Neurotech healthcare was evaluated by collecting similar ranking data for psychiatric care, ophthalmology and neurology and neurosurgery. Hospitals were assigned a geographic region and point values according to ranking data. Points were summed for regions with multiple hospitals in a particular category. Discrete scores for psychiatry, ophthalmology and neurology and neurosurgery were calculated and the three scores averaged to give the overall score for neurotechnology healthcare.
Neurotechnology research was evaluated by collecting data on neuroscience and behavior publication and citation over the past 10 years, available through Thomson Scientifics’ Essential Science Indicators database. Data on grant monies awarded to individual departments was also collected from The National Institutes of Health Research Portfolio Online Reporting Tool (RePORT), but was considered only qualitatively since distinctions between departments were not uniform between institutions.
The twenty leading neurotech clusters worldwide can be categorized into three broad groups that represent their current stage of neurotechnology development and future potential. The three categories of neurotech clusters are defined as follows:
1) Established Cluster: A region wherein neurotech firms and social institutions exhibit high rates of innovative technological convergence and positive network effects from inter-firm regional linkages (via established specialized workforce and risk capital networks) resulting in substantial number of translational focused firms who generate economic returns and regional competitive advantage.
15 Established Clusters are further broken down into Top Tier Clusters (regions that will drive growth of the neurotech industry for the coming decade) and Second Tier Clusters (regions with all of the attributes necessary for sustainable growth, but lacking the abundance within specific characteristics as compared to a Top Tier Cluster).
2) Emerging Cluster: A region in which neurotech firms exhibit high rates of technological innovation but currently lag behind established regions with respect to technological convergence and specific inter-firm regional linkages (either labor or capital) resulting in lower positive network effects, fewer innovative startups and decreased competitive advantage.
3) Nascent Cluster: A region in which neurotech firms and/or social institutions exhibit high rates of technological innovation and partial convergence but currently lack major components of inter-firm regional linkages (both labor and capital). (NOTE: Nascent clusters are not ranked because they each lack different factors that would lead to appropriate relative inter-regional comparison.)
4) Regions to watch: A region of interest, which is poised to become a cluster within the coming decade. These regions may appear to have few start-ups but make up for this with large-scale government institutional support. (NOTE: Regions to watch are not ranked because they each lack different factors that would lead to appropriate relative inter-regional comparison.)
16 Neurotech Region Rankings
Score Infra- Overall Company Capital Class Region out of structure Ranking Ranking Ranking 100 Ranking Top Tier San Francisco, CA 1 100 3 1 1 Cluster Boston, MA 2 98 1 2 3 New York, NY 3 91 5 3 2 Second London, UK 4 84 (3)* 6 5 Tier Cluster San Diego, CA 5 83 5 4 6 LA/Irvine, CA 6 81 4 5 7 Baltimore, MD 7 69 2 8 13 Emerging 8 66 14 7 4 Cluster Philadelphia, PA Minneapolis, MN 9 53 10 9 13 Montreal, Canada * 17 9 Basel/Zurich, Switz * 14 13 Nascent Tel Aviv, Israel * 11 17 Cluster Seattle, WA >20 11 9 Stockholm, Sweden * 20 13 Tokyo, Japan * 13 >20 Munich, Germany * >20 17 New Haven, CT 5 >20 >20 Regions >20 20 9 to Watch Chicago, IL Shanghai, China * >20 >20 Raleigh/Durham >20 10 >20 Cleveland, OH >20 14 >20 *Scores for regions outside the U.S. are based on estimates of infrastructure robustness from qualitative analysis.
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Top Tier San Francisco Cluster Boston New York Second London Tier Cluster San Diego LA/Irvine Baltimore Emerging Cluster Philadelphia Minneapolis Montreal Basel/Zurich Nascent Tel Aviv Cluster Seattle Stockholm Tokyo Munich New Haven Regions Chicago to Watch Shanghai Raleigh/Durham Cleveland
18 Top Tier Neurotech Clusters 1 - GREATER SAN FRANCISCO BAY AREA, CA NeuroInsights ranks the greater San Francisco Bay area first overall for neurotechnology worldwide. The ranking is due primarily to the wealth of neurotechnology companies, including 57 specializing in neuropharmaceuticals, 30 in neurodevices, and 7 in neurodiagnostics. Sixty- nine of the companies are private and 25 are public. The region has the highest number of total neurotechnology companies, neuropharmaceutical companies, neurodevice companies and total private companies. Prominent companies involved in neurotech in the area include Medivation, Jazz Pharmaceuticals, Geron, Stem Cells Inc, Xenoport, Neuropace, and Pain Therapeutics. Pfizer also has significant research efforts in the Bay Area at their South San Francisco facility, which now an integral part of Pfizer's Biotherapeutics Research.
The SF Bay area also ranked first in NeuroInsights assessment of global neurotechnology risk capital with 99 different investment firms clustered within the region. Six of the leading 13 firms making neurotech investments have offices in the Bay Area, including Alta Partners, MDS Capital, MPM Capital, New Enterprise Associates, SV Life Sciences and Technology Partners.
The only metric in which San Francisco did not rank first was neurotechnology infrastructure where the region ranked 3rd. The region has three of the leading neuroscience universities in the world (University of California, Berkeley; University of California, San Francisco; Stanford University), driving its second overall ranking for neurotechnology education and its third place research ranking. Neurotechnology healthcare is also strong, ranking 6th overall. Notable hospitals in the region include University of California, San Francisco Medical Center (ranked 18st for psychiatry, 10th for ophthalmology, 4th for neurology and neurosurgery) and Stanford Hospital and Clinics (ranked 10th for psychiatry, 28th for neurology and neurosurgery).
Academic neurotech centers in the San Francisco Bay Area are prominent. The W.M. Keck Foundation Center for Integrative Neuroscience was established at UC San Francisco in 1990. Within the Keck Center, more than 80 scientists in 11 laboratories study vision, hearing, movement, pain, learning and language. Also at UCSF is the Sloan-Swartz Center for Theoretical Neurobiology, Conte Center for Neuroscience Research, Wheeler Center for the Neurobiology of Addiction, and the Gladstone Institute of Neurological Disease. Ernest Gallo
19 Clinic and Research Center, a leading center for research into treatments for addition and obesity, is located in nearby Emeryville.
An exciting new development at Stanford University is the Stanford Conte Center devoted to the study of neuroplasticity. In June 2009, The National Institute of Mental Health awarded $10 million over five years to how the brain changes during development or when it is exposed to changing conditions. Research on neuroplasticity may have implications for understanding schizophrenia, autism, bipolar disorder, pain syndromes and many other conditions that induce brain adaptations. The research will also be applicable to understanding positive neural changes, such as normal brain development, how the brain best incorporates new learning and how it successfully adapts to challenging situations. The SF Bay area is also home to several of the leading neurosoftware companies who leverage neuroplasticity research including Posit Science and Lumos Labs.
2 - GREATER BOSTON, MA NeuroInsights ranks the greater Boston region 2nd overall for neurotechnology, scoring 98 points on a 100-point scale. The region ranks 2nd for number of companies with a total of 75. Of these companies, 48 specialize in neuropharmaceuticals, 15 in neurodevices, and 12 in neurodiagnostics. Fifty-four of the companies are private and 21 are public. Boston has the most diagnostic companies of all regions examined.
Big pharma also has a significant impact on neurotechnology efforts in the Boston region. Merck Research Laboratories Boston is dedicated to discovering and developing medicines for cancer and neurodegenerative disorders. Located in the heart of Boston’s Longwood medical area, the state-of-the-art research facility is at the center of the emerging hub of premier biomedical research in North America. Cambridge also features one of Novartis’ two R&D locations, Novartis Institute of BioMedical Research (NIBR), Cambridge. The NIBR headquarters is home to research in the areas of oncology, infectious diseases, ophthalmology, and cardiovascular and metabolic diseases.
20 The greater Boston region has significant risk capital resources, ranking 3rd overall with 41 firms having local offices. Four of the top 10 venture capital firms investing in neurotechnology have offices in Boston, including MPM Capital, SV Life Sciences, and Oxford Bioscience Partners.
Neurotechnology infrastructure in Boston ranks first in neurotechnology education, healthcare and research. High quality research institutions like Harvard and MIT, both of which have several world-class neuroscience research centers drive these rankings. MIT run centers include the McGovern Institute for Brain Research– focused on studying systems and computational neuroscience, imaging and cognitive neuroscience, and genetic and cellular neuroscience; The Picower Center for Learning and Memory - studying synaptic plasticity, learning and memory; and the Whitehead Institute for Biomedical Research - research focuses on neural development, cloning and stem cells, and neurodegenerative diseases. Harvard research includes the Program in Neuroscience at the Harvard Medical School, the Neuroscience Center at Massachusetts General Hospital, the Department of Neurobiology and the newly formed Center for Brain Science on the school’s Cambridge campus. Together, these institutions represent the world’s finest neurotechnology infrastructure, ranking first in neuroscience publication, citation and graduate school ranking.
A wealth of world renowned hospitals provide a significant basis for translating neuroscience to the clinical setting; Boston ranks 1st for psychiatry, 4th for ophthalmology and 3rd for neurology and neurosurgery. Prominent hospitals in the region include Massachusetts General Hospital (ranked 1st for psychiatry, 3rd for neurology and neurosurgery), Austen Riggs Center (ranked 15th for psychiatry), Massachusetts Eye and Ear Infirmary (ranked 4th for Ophthalmology),and Brigham and Women's Hospital (ranked 21st for neurology and neurosurgery).
21 Second Tier Neurotech Clusters 3 – GREATER NEW YORK, NY NeuroInsights ranks the greater New York region 3rd overall, scoring 91 points on a 100-point scale. The region ranks 3rd for companies with 60 total. Of these companies, 46 specialize in neuropharmaceuticals, 10 in neurodevices, and 4 in neurodiagnostics. Twenty-nine of the companies are private and 31 are public, making New York the number one region for public neurotechnology companies. Several big pharma companies are headquartered in the region including Pfizer, Merck, Johnson and Johnson and Bristol-Myers Squibb.
The region ranks 2nd for local risk capital with 62 firms that invest in neurotechnology having offices in the area including Oxford Bioscience Partners, Johnson & Johnson Development Corporation, Pfizer Strategic Investments Group, Radius Ventures and Thomas, McNerney & Partners. New York is also a haven for non-venture sources of capital including investment banks and hedge funds like JP Morgan, Morgan Stanley and Merrill Lynch.
The New York region ranks 5th overall for neurotechnology infrastructure. New York is 9th in research ranking and 10th for neurotechnology education, both driven primarily by Columbia University. New York’s hospital ranking is 4th overall including a 3rd place ranking in psychiatry, 15th place in ophthalmology and 2nd place in neurology and neurosurgery. These high rankings are due to both the depth and breadth of hospitals in the region; New York-Presbyterian University Hospital of Columbia and Cornell, ranked 2nd for psychiatry and 5th for neurology and neurosurgery; New York University (NYU) Medical Center ranked 16th for psychiatry and 10th for neurology and neurosurgery; Mount Sinai Medical Center ranked 20th for psychiatry and 16th for neurology and neurosurgery; and New York Eye and Ear Infirmary ranked 15th ophthalmology.
From a social infrastructure perspective, NYU and Columbia University underpin intellectual capital creation, having launched several neurotech startups in recent few years. Columbia has an annual budget of $2 billion, half of it for the medical center and the departments of neurology and psychiatry (including researchers in the New York State Psychiatric Institute) each consistently rank in the top five departments in NIH funding in the country. Supporting university spinouts is Columbia’s Science and Technology Ventures, which handles patents, inventions and industry collaborations, and advises on formation of new companies.
22 Columbia recently announced construction of a new STAR Integrated Imaging Center for high resolution imaging of functional neurocircuits. This center will foster the use of new technologies for brain imaging to create new diagnostic and therapeutic tools and therapies for treating major neurological and psychiatric diseases. The new facilities will include state of the art animal micro PET scanners. Funded by an $11 million grant from NYSTAR, the Integrated Imaging Center at Columbia University will develop new technologies to improve the diagnosis and treatment of neurodegenerative and psychiatric disorders. The principal goal of the STAR Integrated Imaging Center is to implement a comprehensive central nervous system drug development program in collaboration with the pharmaceutical industry.
4 – LONDON/CAMBRIDGE, UNITED KINGDOM NeuroInsights ranks the London-Cambridge region 4th overall for neurotechnology, scoring 84 on a 100-point scale. The region ranks 6th for companies with 35. Of these companies, 22 specialize in neuropharmaceuticals, 6 in neurodevices, and 7 in neurodiagnostics. Twenty-five of the companies are private and 10 are public; GlaxoSmithKline and AstraZeneca, two of the world’s largest public pharmaceutical companies are headquartered in the region and have local networks of R&D facilities throughout.
In addition to GSK and AstraZeneca, other significant big pharma neurotechnology research efforts are concentrated in London/Cambridge. Merck Sharp & Dohme Research Laboratories in Hoddesdon, Herts, UK is one of three R&D groups worldwide. This group has a specific interest in developing new medications to treat migraine headache. Eli Lilly also has significant research infrastructure in the region at their Erl Wood Facility. The UK Research Centre, founded in 1967, produced the company’s most successful ever product – the antipsychotic Zyprexa. Multidisciplinary development teams are dedicated to meeting medical needs and are pursuing medicines for Alzheimer’s disease, Parkinson’s disease, schizophrenia, and pain syndromes.
Big pharma continues to add to the existing neurotechnology infrastructure in the greater London area through collaborations with academia. Recently, GlaxoSmithKline and University College London's Institute of Ophthalmology entered into a three-year strategic collaboration to investigate new compounds to treat potentially sight-threatening disorders. The alliance will
23 apply the expertise and research facilities at UCL's Institute of Ophthalmology (IoO) to investigate the potential of compounds provided by GSK's ophthalmic drug development unit Ophthiris. The collaboration will provide IoO with dedicated staff and funding as well as a range of pharmaceutical compounds, biopharmaceuticals and reagents with which to probe ophthalmic disease mechanisms, while GSK will gain access to the world class ophthalmic experience, facilities and investigators.
In a separate project, in 2007 GlaxoSmithKline opened a new Clinical Imaging Centre (CIC). The new center represents an investment of over £50 million and is a pioneering collaboration between industry, academia and the public sector to produce the largest new imaging centre in Europe dedicated to development and application of imaging techniques for clinical research in neurology and psychiatry. One of the world’s largest industry-university-government collaborations, the CIC will create a globally-recognized center of expertise in London and substantially increase the entire research base in medical imaging in the UK. Its facilities include an advanced radiochemistry development facility, two MRI machines and two PET scanners which give the unit the capacity to conduct up to 2500 scans annually. Built over three floors, it will be staffed by almost 80 clinical, scientific and support staff, plus an additional eight Research Fellows from Imperial College. The whole Burlington Danes center, which encompasses the GSK CIC, ICL and MRC facilities, will eventually employ around 400 researchers and support staff. Around half of these will be new positions. In addition to the research center, the completed development will include affordable housing for over 300 health workers, provided by the Charity Trustees for Hammersmith Hospital’s partner Thames Valley Housing Association.
Both of the above collaborations leverage the neuroscience expertise of local academic centers such as Oxford University, University of College London (UCL), Cambridge University, and London Imperial College. Of note is the UCL Business PLC (UCLB), an organization responsible for commercializing research across all disciplines, generated from within UCL and associated organizations. It is primarily responsible for protecting inventions and transacting commercial activity including options, licenses and collaborative commercial research. UCLB also has responsibility for creating and spinning-out companies from UCL. UCLB is wholly- owned by UCL and operates as an independent company with its own board of directors. Also of note, is UCL’s neuroesthetics research (understanding the neurobiology of creativity and
24 artistic achievement) and cognitive science leadership (specializing in understanding emotions)- unique assets not found in competing neurotech clusters.
Other engines of intellectual property creation include UCL’s Institute of Neurology, focused on the study of epilepsy, brain injury, neurodegeneration, neuroinflammation, and motor neuroscience; the Wellcome Laboratory for Molecular Pharmacology, focused on the study of neurotransmitter receptors and ion channels; and the Windeyer Institute of Medical Sciences Concentrating on the study of molecular psychiatry. London is also home to the U.K.'s Medical Research Council, which comprises a variety of facilities and labs, such as the Molecular Biology Laboratory in Cambridge and the Cyclotron Unit at Hammersmith Hospital, London, site of brain-imaging studies and other neurological research.
While not specifically ranked by NeuroInsights due to lack of quantitative data, the London region has a significant infrastructure for neurotechnology healthcare. The Royal London Hospital includes The London Centre for Neurosciences. The center uses advanced therapeutics and facilities to treat and support patients with neurological conditions affecting the brain, spinal cord and/or nerves. It is one of only two NHS facilities to provide gamma knife treatment to treat NHS patients. This provides non-invasive treatment for many types of brain tumors, blood vessel disorders of the brain and areas of new development such as epilepsy and facial pain. The center was one of the first hospitals to begin using advanced techniques such as kyphoplasty to treat spinal damage and neurostimulation, which relieves pain, and counteract the symptoms of conditions like Parkinson’s disease or epilepsy. It now includes the biggest neurostimulation unit in Europe.
London is also rich in risk capital; the region ranks 5th for risk capital with 21 local investment offices. Biotechnology investors such as SV Life Sciences, Cambridge Angels, and the Wellcome Trust all have roots within the greater London region.
5 - SAN DIEGO, CA In a 2004 Milken Institute survey, the San Diego metropolitan area ranked first among U.S. biotech clusters, a part of which is included within the neurotechnology industry sector. According to the survey, San Diego’s life science industry includes large multinationals,
25 numerous smaller biotech and medical device companies. Employment in the San Diego area for biotech is over 55,000 and is estimated to generate $5.8 billion in local income.3
NeuroInsights ranks San Diego as the 5th region in the global neurotechnology industry, scoring 83 out of 100 possible points. The region’s high ranking is driven primarily by its wealth of neurotechnology companies, both public and private; San Diego’s 44 companies rank 4th overall. Of the 47 total companies (34 private companies, 10 public companies) 34 are neuropharmaceutical, 7 neurodevice and 3 neurodiagnostic. The region is a particularly popular destination for private neuropharma investments, ranking 3rd for private companies and 4th for neuropharma companies. Additionally, public neuropharma has flourished in the region with notable companies including Acadia Pharmaceuticals, Arena Pharmaceuticals and Cypress Bioscience. San Diego is also rich in risk capital; the region ranks 6th for risk capital with 12 sources. Biotechnology investors include Amgen Ventures, Domain Associates, and Biogen Idec New Ventures all have offices within the greater San Diego region.
San Diego ranks 5th for neurotechnology infrastructure. This ranking is primarily driven by research and graduate education in the region. San Diego is NeuroInsights 3rd ranked region for graduate training in neuroscience; The University of California at San Diego (UCSD) ranks 3rd for psychology and 5th for neuroscience. Academic institutions like UCSD, The Salk Institute and The Scripps Research Institute make the region 8th for total neuroscience publications and citations. San Diego’s neurotech cluster advantages also emerge from its attractiveness for public R&D funding such as National Science Foundation (NSF), and the National Institutes of Health (NIH). UCSD ranks sixth in the nation and first in the University of California system according to the amount of federal dollars the campus spends on R&D. In 2004, UCSD announced a $30 million gift from The Skaggs Institute for Research to support the UCSD School of Pharmacy and Pharmaceutical Sciences. UCSD School of Medicine is the coordinating center for a nationwide $60 million, 5-year public-private partnership called the Alzheimer’s disease neuroimaging initiative. Approximately two-thirds of the grant will go to UCSD for the center. The region however, lacks in quality hospitals as compared to other areas in the top 10. San Diego does not rank in the top 10 for neuroscience hospitals and the UCSD Hospital is 21st for psychiatry, but is not ranked for ophthalmology or for neurology and neurosurgery.
3 DeVol R., Wong P., Ki J., Bedroussian A., Koepp R. (2004) America's Biotech and Life Science Clusters Milken Institute
26 6- LOS ANGELES/IRVINE, CA The Los Angeles/Irvine greater metropolitan area ranks as the 6th, representing the last full- fledged cluster according to NeuroInsights. The region’s ranking is driven by its 5th rank for companies with 37 total, 21 of which are neuropharmaceutical, 14 neurodevice and 2 neurodiagnostic. Of these companies, 25 are private and 12 are public. Boston Scientific, Avanir Pharmaceuticals, Valeant Pharmaceuticals, and Cortex Pharmaceuticals are notable public neurotech companies with offices in the region.
LA-Irvine also ranks 4th for the number of neurodevice companies. One driver for device development in the region is the presence of the Boston Scientific Neuromodulation in Valencia. Boston Scientific is a worldwide developer, manufacturer and marketer of medical devices with approximately 25,000 employees and revenue of $8.3 billion in 2007. The company’s neuromodulation group offers solutions for pain management by developing devices that use neurostimulation to mask chronic pain signals with electrical impulses. Furthering device development in the region is a small fund called Salt Creek Medical Device Development, a medical device company generator with an integrated Venture Fund.
Further driving device development in the region, are publically funded centers like the National Science Foundation Engineering Research Center devoted to Biomimetic Microelectronic Systems (BMES). Located at the University of Southern California, this neurotechnology team effort combines academic research with commercial development. The industrial partners deliver technology and funding and get access to the center’s pool of researchers and intellectual property. It has attracted the interest of numerous corporations in fields ranging from neurodevices to neuroimaging.
The Los Angles-Irvine Cluster has a 7th place ranking for risk capital, with 11 sources. The region ranks 4th for neurotechnology infrastructure, drawing its strength from several universities, including University of California, Los Angeles (UCLA), California Institute of Technology (Caltech), University of Southern California (USC) and the University of California, Irvine (UCI), each of which contributes substantially to innovation among the converging sciences. NeuroInsights ranks the region 5th for graduate training in neurotechnology; UCLA is the number one ranked psychology program, and Caltech ranks 10th for neuroscience. These institutions together rank the region 6th for total neuroscience publications and citations.
27 UCLA’s Alzheimer’s Disease Research Center, Brain Injury Research Center, and Brain Mapping Division, are but a few of the cutting edge, well funded initiatives occurring at UCLA that are generating substantial new insights into neurological disease and psychiatric illness. UCLA is also home to well-funded nanoscience projects (California Nanosystems Institute) and is the recipient of several DARPA and U.S. Department of Defense contracts in the area of improving cognitive performance. Additional strength comes from the UCLA Semel Institute, Department of Psychiatry and Resnick Neuropsychiatric Hospital; all of which are devoted to teaching, research and patient care in psychiatry, neuroscience and related fields.
LA-Irvine ranks highly for neurotechnology healthcare as well, garnering NeuroInsights 3rd place ranking. The region placed 4th for psychiatry, 5th for ophthalmology, and 6th for neurology and neurosurgery. These high rankings are due to the expertise of the UCLA Hospital system (5th psychiatry, 5th ophthalmology and 7th neurology and neurosurgery), Cedars-Sinai Medical Center (17th neurology and neurosurgery) and USC University Hospital (49th neurology and neurosurgery).
28 Emerging Neurotech Clusters
7– BALTIMORE, MD NeuroInsights ranks the Baltimore metropolitan region as the 7th neurotechnology cluster. The region ranks 8th for number of companies (27 total, 22 neuropharmaceutical, 4 neurodevice, 1 neurodiagnostic). These companies include 19 private and 8 public neurotechnology firms, including Nabi Pharmaceuticals, Psyadon, and start-up Traxion. Baltimore ranks 13th for risk capital, with seven sources.
Baltimore’s inclusion as an emerging cluster is due in large part to the strong neurotechnology infrastructure in the region, ranked 2nd overall. Johns Hopkins University is a biomedical science powerhouse, ranking 4th for neurotechnology education (7th ranked psychology program and 3rd ranked neuroscience program). Neurotechnology healthcare in the region is also particularly strong, ranked 2nd overall. The ranking is due primarily to the Johns Hopkins Hospital (2nd neurology and neurosurgery, 2nd ophthalmology, 2nd psychiatry) but also includes well-known regional hospitals like Sheppard and Enoch Pratt Hospital and Sinai Hospital of Baltimore.
Baltimore is the 2nd ranked region for basic neurotechnology research. The combination of Hopkins and the National Institute for Mental Health produced the second most neuroscience publications of any region worldwide. At Hopkins more than 540 faculty members are studying neurosciences, and there is over $120M in research support annually. Neuroscience researchers are in many schools throughout the Institution, including the School of Medicine, the Zanvyl Krieger School of Arts and Sciences, the Whiting School of Engineering, the Bloomberg School of Public Health, the Applied Physics Laboratory, and the School of Education. The senior faculty includes some of the most productive and highly cited neuroscientists in the world. For example, of the top 25 neuroscientists by citation over the past ten years, four are at Johns Hopkins. The future for neurotechnology in Baltimore is also particularly bright due to the Johns Hopkins Brain Science Institute (BSI), an entity endowed with $110 million unrestricted grant to support basic and translational research activities in the neurosciences at Hopkins. The Johns Hopkins BSI brings together both basic and clinical neuroscientists from across the Johns Hopkins campuses.
29 8 - GREATER PHILADELPHIA, PA NeuroInsights ranks the greater Philadelphia region 8th overall for neurotechnology. The region ranks 7th for companies with 31 total. Of these companies, 27 specialize in neuro- pharmaceuticals, 3 in neurodevices, and 1 in neurodiagnostics. Eighteen of the companies are private and 13 are public; Teva Neuroscience and Cephalon are two high profile public neuropharmaceutical companies in the region.
Astra Zeneca also has a heavy influence in the greater Philadelphia region, with a significant portion of its neuroscience research located in Wilmington, Delaware, not far from Philadelphia. Research here is focused on pain control, neurology and psychiatry. The site is a center of excellence in psychiatry, concentrating on developing therapies for schizophrenia, anxiety, depression, bipolar disorder and dementia. The site employs over 2,000 people in R&D in Wilmington, which is also the company’s US headquarters with over 5,000 total employees.
Philadelphia is particularly rich in risk capital, ranking 4th overall with 22 sources. ProQuest Investments, GSK Venture Fund, S.R. One, Domain Associates are some of the prominent investors in the region. Of note, S.R. One is a wholly owned affiliate of GlaxoSmithKline, one of the world’s largest health care companies. S.R. One invests in companies at all stages that engage in aspects of drug discovery and development, including biologics and platform tools and technologies.
The region ranks 14th for neurotechnology infrastructure; drawing on research occurring at Jefferson Hospital for Neuroscience; University of Pennsylvania Department of Neuroscience; Evolutionary Cognitive Neuroscience Laboratory at Drexel University; and the Departments of Mental Health Sciences at Hahnemann University the Philadelphia region has a strong intellectual infrastructure from which to obtain fresh and experienced talent. These schools contribute to the region’s 9th place ranking for neurotechnology education and 12th place ranking for neuroscience citations and publications. Neurotech infrastructure is also prominent in the region’s hospitals, ranking 12th overall for neurotechnology healthcare. The University of Pennsylvania Hospital ranks 24th for psychiatry, 3rd for ophthalmology, and 23rd for neurology and neurosurgery.
One of Philadelphia’s unique strengths comes from its deep seated intellectual property and legal expertise in emerging issues related to neurotechnology. In particular, the University of
30 Pennsylvania is home to leading neuroethicists including Arthur Caplan and Martha Farah who preside over the cutting edge of neuroethics (the intersection of ethics, public policy, regulations and neurotechnology).
9 – MINNEAPOLIS, MN Minneapolis ranks 9th overall according to NeuroInsights list of regions for neurotechnology. The region ranks 9th overall for neurotechnology companies with 23 total (4 neuropharma, 18 neurodevice, 1 neurodiagnostic). Of these companies, 18 are private and 5 are public. Notably, the region has the 2nd highest number of neurodevice companies (after San Francisco) with 18 companies and has the highest percentage of neurodevice companies in any region analyzed. Minneapolis is also ranked 13th for risk capital with seven sources including firms such as Split Rock Partners and Affinity Capital Management.
Minneapolis is a hub for neurodevices, in part due to the two large public medical device companies in the region: Medtronic and St. Jude Medical. 1) Medtronic operates in seven segments that manufacture and sell device-based medical therapies: Cardiac Rhythm Disease Management, Spinal, CardioVascular, Neuromodulation, Diabetes, Surgical Technologies and Physio-Control. Neuromodulation accounted for $1.3 billion, or 10%, of Medtronic's $13.5 billion in revenue in 2008. Current products include neurostimulation systems and implantable drug delivery systems for chronic pain, common movement disorders, and urologic and gastrointestinal disorders. 2) St. Jude Medical develops, manufactures and distributes cardiovascular medical devices for the global cardiac rhythm management, cardiology and cardiac surgery and atrial fibrillation therapy areas and implantable neurostimulation devices for the management of chronic pain.
Neurotechnology infrastructure in Minneapolis is ranked 10th, a figure primarily driven by a 5th overall ranking for neurotechnology healthcare. The Mayo Clinic in Rochester, MN ranks 1st in neurology and neurosurgery, 13th in ophthalmology and 8th in psychiatry. Within the city of Minneapolis, The University of Minnesota Medical Center and Abbott Northwestern Hospital were 30th and 35th respectively for neurology and neurosurgery. The University of Minnesota provides academic support to the region, but the research and educational training in Minneapolis are significantly weaker than in similarly ranked regions.
31 Nascent Neurotech Clusters
MONTREAL, CANADA While Canada is home to 25 neurotechnology companies, they are spread out across the country. Despite this, Montreal appears to be Canada’s leading neurotech cluster with several assets underpinning their potential emergence as an important region in the global neurotech economy. Montreal ranks 17th in terms of neurotech companies and 9th for access to risk capital. The region includes 9 total companies (6 neuropharmaceutical, 1 neurodevice, 2 neurodiagnostic) and 9 sources of risk capital.
One example of Canada’s ability to leverage information technology to support neurotechnology development is the Quebec Mental Health and Neuroscience Network (QMHNN), which brings together Quebec researchers working in two fields related to the brain and inter-related research, namely mental illness and neurological disorders. The structure of the QMHNN is composed of a rich pool of experts, from various Quebec Universities and Research Centres, grouped along thematic axes, which integrate various major projects. The Quebec Brain Imaging Research Group’s goal is to provide infrastructure to all researchers, clinicians, and students who are interested in the study of the brain using brain imaging techniques, whether they are inside or outside Quebec. Within Montreal, McGill University’s Neurological Institute houses a world-class group of researchers.
BASEL/ZURICH, SWITZERLAND NeuroInsights ranks the region spanning from Basel to Zurich, Switzerland among the nascent neurotechnology regions worldwide. The region ranks 14th overall for companies (11 total companies; 8 neuropharmaceutical, 2 neurodevice, 1 neurodiagnostic, 6 private, 5 public). Of note, the region features headquarters for two large biopharmaceutical companies, Hoffman- La Roche and Novartis. Basel/Zurich also ranks 13th for capital with 7 risk capital sources, including Novartis Bioventures.
There are neurotechnology research hubs contained within the area. 1) The Friedrich Miescher Institute is devoted to fundamental biomedical research. As part of the Novartis Research Foundation and one of the institutes of Novartis Corporate Research, the center’s goal is to
32 exploit new technologies to further understanding of the basic molecular mechanisms of cells and organisms in health and disease. Focus areas include epigenetics, growth control and neurobiology. Currently the FMI has around 300 staff, including 24 research group leaders, 95 PhD students and about 80 postdoctoral fellows from almost 40 different countries. 2) The Neuroscience Center Zurich is a joint competence center of the University of Zurich creating synergies between its 440 neuroscientists in research and education. About 100 basic, clinical and applied research groups cover the entire spectrum of neuroscience ranging from molecular and cellular processes in the brain to computational modeling and psychology. 3) The Basel Neuroscience Program (BNP) is an interdisciplinary and interdepartmental education program for graduate Ph.D. students at the University of Basel. Over 400 scientists from more than 40 different groups are associated with the BNP representing among the highest densities of neuroscientists world-wide. The groups cover a wide spectrum of neuroscience research ranging from basic to clinical and applied research and are associated with the University of Basel, the Friedrich-Miescher Institute for Biomedical Research, the University hospitals and the pharmaceutical industry.
The many neuroscientists in the region are organized in the Swiss Society for Neuroscience (SSN). The organization currently has more than 1000 members and organizes annual meetings taking place alternatively in Geneva, Lausanne, Fribourg, Bern, Basel and Zürich. The SSN also fosters interactions with the "Federation of European Neuroscience Societies," a group of 26 National Neuroscience Societies and 6 international monodisciplinary societies.
TEL AVIV, ISRAEL Tel Aviv, Israel is the also amongst the nascent regions for neurotechnology. This ranking is primarily driven by the region’s company ranking, 11th overall (17 total companies; 9 neuropharmaceutical, 7 neurodevice, 14 private, 3 public). Of note, the region features a unique ratio of neurodevice to neuropharma companies; only Minneapolis has a higher percentage of device companies. Device companies in the region include BioLineRX, Brainsway, BrainsGate, NeuroSonix, SteadyMed Ltd., BioControl Medical, Ltd. and CogniFit. Tel Aviv also ranks 14th for capital with 7 risk capital sources, including notable biomedical investors Medica Venture Partners, BME Capital, and Agate Medical Investments.
While difficult to compare the neurotechnology infrastructure of Tel Aviv to most American cities, Israel boasts a strong university system; Nine universities are contained within a small
33 geographic region and include Hebrew University of Jerusalem, Technion - Israel Institute of Technology, Weizmann Institute of Science, Bar-Ilan University, Tel Aviv University, University of Haifa, Ben-Gurion University of the Negev, Open University of Israel.
Tel Aviv in particular is home to two research institutions with extensive neuroscience research activities; the Weizmann Institute of Science and Tel Aviv University. At the Weizmann Institute of Science, the neurotechnology activities are centered on the Department of Neurobiology and revolve around two major themes: the study of neuronal function at the molecular and cellular levels and the study of the CNS at the system level. Research techniques include cellular and molecular biology, neuroanatomy, functional magnetic resonance imaging (fMRI), physiology, pharmacology, psychophysics, and computational sciences. The groups studying neuronal function at the molecular and cellular levels are attempting to elucidate the roles of various molecular components of the nervous system, including cell surface membrane components, specific enzymes, neurotransmitters, neuromodulators, growth factors, neuroreceptors, lipid components, ionic channels and cytoskeletal constituents. Additional focus is placed on developing algorithms for the synaptic plasticity between neurons and studying injury models of nerve lesion including ischemia and stroke. The groups studying the CNS at the system level are striving to understand the complex neuronal mechanisms underlying learning, memory, and sensory processing (vision, taste, smell), and to determine the relationship between brain and mind. Nearly 20 groups of researchers carry out both independent studies and collaborative research with colleagues from within the department and outside it.
At the Tel Aviv University, the recently created Adams Super Center for Brain Studies provides an umbrella for research activity in the neurosciences by encouraging collaboration by faculty members from different disciplines. Established in 1993, the center coordinates efforts between multiple departments to fund pilot research projects, enhance graduate student education and develop an undergraduate neuroscience curriculum. The Super Center includes a widely diverse list of scientists, drawing from the Departments of Neurobiochemistry, Biochemistry, Zoology, Physiology and Pharmacology, Neurology and Neurosurgery, Psychiatry, Molecular Genetics, Psychology, Electrical Engineering, Bio-Medical Engineering, Computer Science and Statistics, Chemistry and Philosophy.
As an additional piece of the local infrastructure, The Israel Society for Neuroscience (ISFN) is a registered non-profit organization, founded in 1992 by several leading Israeli neuroscientists.
34 The group’s approximately 600 members include neuroscientists and graduate students from all the research institutes and universities in Israel, as well as foreign delegates, all of whom are involved in versatile basic and clinical research of the nervous system. The Society holds an annual meeting each fall, which offers a stage for presentations of cutting edge research in the form of oral lectures, posters and web based abstracts. It works closely with The Israel Academy of Sciences and Humanities and the various research institutes and universities, as well as other international scientific societies such as the Federation of European Neuroscience Societies (FENS), the International Brain Research Organization (IBRO), and European Dana Alliance for the Brain.
SEATTLE, WA The Seattle region ranking is driven primarily by neurotechnology companies and risk capital. The region is home to 17 neurotechnology companies, tying it in 11th place on the NeuroInsights company rankings. Of the neurotechnology companies in the region, there are 12 neuropharmaceutical and 4 neurodevice companies; of these companies, 2 are publically listed. Of note, is the recent closing of Northstar Neuroscience, which was dissolved as of July 2009 and its assets acquired by St. Jude Medical. Risk capital, ranked here in 9th place overall, is also relatively strong in the region. The region’s 9 risk capital firms include Frazier Healthcare Ventures and Polaris Venture Partners.
Seattle is currently limited by its neurotechnology infrastructure but is poised for significant growth in this area. Most of the activity in the region is centered on the University of Washington, which is currently the 15th ranked institution in the world in terms of neuroscience and psychology publication and citations. Neurotechnology research is distributed widely across multiple departments and graduate programs including the Graduate Programs in Neurobiology and Behavior, Graduate Program in Psychology, the Department of Biological Structure, Department of Neurological Surgery, Department of Neurology, Department of Pharmacology, Department of Physiology and Biophysics, Department of Psychiatry, and Department of Psychology. The Fred Hutchinson Cancer has also recently launched new efforts in neurotechnology by hiring Linda Buck, a 2004 Nobel Laureate for discovering the molecular basis of smell. Hospitals in the region lag significantly behind research efforts. While notable in the Pacific Northwest, Seattle hospitals are ranked 22nd in neurology and neurosurgery by US
35 News and World Report, but were not ranked among top institutions in Ophthalmology and Psychiatry.
Perhaps the largest neurotechnology development in the region is the Allen Brain Science Institute. Founded in 2003 with a $100M seed investment from philanthropist Paul Allen, the center is a 32,000 square foot facility housing 85 scientists in a multidisciplinary group of neuroscientists, molecular biologists, informaticists, engineers, mathematicians, statisticians, and computational biologists. Their primary effort is directed toward construction of the Allen Brain Atlas, an effort to map the expression of 20,000 genes in the adult mouse brain and to map gene expression to a cellular level beyond neuroanatomic boundaries. The data generated from this joint effort is contained in the publicly available Allen Brain Atlas application located at www.brain-map.org. Upon completion of the Allen Brain Atlas, this consortium of scientists will pursue additional questions to further the understanding of neuronal circuitry and the neuroanatomic framework that defines the functionality of the brain.
STOCKHOLM, SWEDEN The “Swedish Brain Power” was initiated in 2003 to create a center for early diagnosis and therapy research focusing on neurodegenerative diseases. Research is primarily undertaken in fields in which Sweden and the Stockholm-Uppsala region have developed an international reputation. The project’s aim is to strengthen the region’s lead in terms of international competition.
Of 31 Nobel Prizes that have honored advances in neurosciences, Swedes have received five. Sweden has several neuroscience research institutes and universities including, the Karolinska Institutet in Stockholm; the Aging Research Center that takes a neuroepidemiological approach to aging, focusing on cognition, mild cognitive impairment and Alzheimer’s; and the Center for Hearing and Communication Research which takes a molecular approach to hearing and deafness and cochlear and cellular mechanics by utilizing imaging techniques, computer models, and tissue engineering.
The commercialization process in Sweden is supported by the Karolinska Enterprise system. Technology transfer and licensing is handled by Karolinska Innovations. Start-up and seed financing is available through two investment companies: Karolinska Development and
36 Karolinska Development II. NeuroNova, which is developing treatments for ALS and Parkinson’s based on stimulation of neurogenesis, is one of KI’s best-known spinouts.
Stockholm is also leading the way in creating a global neuroinformatics initiative and may be the home of an OECD initiative to bring together international teams of scientists to collaborate on creating new databases, analytical tools and computational models.
TOKYO, JAPAN Tokyo is home to the internationally recognized RIKEN Brain Sciences Institute (BSI). RIKEN BSI, Japan’s largest brain research center, was founded in 1997 and is located at RIKEN’s Wako City campus, 30 minutes from central Tokyo. Affiliated institutes working on different aspects of neurotechnology include the Advanced Technology Development Group, focusing on neural architecture, behavioral genetics, cell culture development, cell function dynamics and neuroinformatics; the Aging and Psychiatric Research Group Research focusing on Alzheimer’s disease, Alzheimer’s and proteolysis, schizophrenia and bipolar disorder; the Brain-Style Information Systems Research Group which is exploring mathematical neuroscience, visual neurocomputing, advanced brain-signal processing and microdynamics of visual perception; the Brainway Group with expertise in brain-operative expression and brain-operative devices; and the Neuronal Growth and Regeneration Research Group, which studies developmental gene regulation, neuronal growth mechanisms and neural cell polarity.
RIKEN BSI has several relationships with other leading neuroscience universities including the RIKEN-MIT Neuroscience Research Center. The contract for the RIKEN-MIT Neuroscience Research Center, founded in 1998, was renewed for another five years in 2003 at a higher level of funding. In 2004, BSI underwent significant organizational restructuring and many new laboratories and units were added (Laboratory for Motor Learning Control, The Laboratory for Comparative Neurogenesis, The Laboratory for Symbolic Cognitive Development, The Laboratory for Biolinguistics and others). RIKEN BSI has established general cooperative agreements with KNIH, KAIST (Korea), NBRC (India), UCSF (USA) and L.A. Orbeli Institute of Physiology, National Academy of Sciences (Armenia).
Tokyo is also home to major public pharmaceutical companies with an interest in neuroscience including Takeda, Astellas, Daiichi Sankyo, Eisai, Chugai, Taiho, Mitsubishi, Dainippon
37 Sumitomo, Kyowa Hakko Kogyo and Shinogi. The presence of these pharmaceutical companies making substantial investments in the sector as well as partnering with US companies, along with a rapidly aging Japanese population, will continue to drive neuropharmaceutical treatments for age-related neurodegenerative diseases in the coming years.
38 Regions to Watch
MUNICH, GERMANY NeuroInsights ranks Munich, Germany among the neurotechnology regions to watch worldwide. With Seimens Medical Solutions acting as a strong attractor of talent and capital, Munich is becoming a rich center for neurotechnology research and development. Intellectual capital creation and a desirable workforce are supported by a strong university and research institute system that includes Ludwig Maximilians University Muenche; Max Planck Institutes of Neurobiology, Psychiatry and Biochemistry; University of Munich; and Bernstein Center for Computational Neuroscience. The Munich region is also home to nine neurotech companies.
A new development in the region is the establishment of a "National Network for Computational Neuroscience" by the Bernstein Centers for Computational Neuroscience (BCCN). This initiative has established four "Centers for Computational Neuroscience" in Berlin, Freiburg, Göttingen and Munich. Forty Million Euros have funded this effort from 2004 and 2010. The BCCN Munich integrates projects at the Ludwig-Maximilians-Universität, Technische Universität München, Humboldt-Universität zu Berlin, MPI für Neurobiologie and Planegg-Martinsried, as well as in industry with Infineon Technologies AG.
RALEIGH/DURHAM, NORTH CAROLINA A strong university system, including Duke University, University of North Carolina, and Wake Forest University act to create a talented labor pool with particular expertise in the underlying sciences necessary to develop cutting edge neurotechnology. The exceptional labor pool is driving the current success and long-term potential of this region, giving rise to companies like Targacept and CeNeRx.
The neurotech industry requirements for science and technology backgrounds are even more demanding than the other technology-oriented industries such as biotechnology and information technology. According to a recent report by the Milken Institute the Raleigh-Durham-Chapel Hill region ranks 1st in the U.S. in terms of workforce capabilities as applicable to the life sciences. The entrepreneurial vigor of the region is evidenced by the fact that 18 neurotech firms have their headquarters in the Raleigh-Durham Cluster.
39 In terms of neurotech venture capital the Raleigh-Durham Cluster has offices for several of the world’s leading investors for commercial neuroscience including NeuroVentures, Oxford BioScience Partners, and New Enterprise Associates.
NEW HAVEN, CT NeuroInsights ranks the New Haven Region amongst neurotechnology regions to watch worldwide. This ranking is driven primarily by the region’s infrastructure as the region does not fall within the top 20 regions for companies or for capital. Proximity to New York and Boston helps to compensate for deficiencies in these areas.
New Haven ranks 5th worldwide in neurotechnology infrastructure. NeuroInsights ranks New Haven 7th for neurotechnology education; Yale University ranks 8th for psychology and 6th for neurobiology. The region also is the 17th ranked region for neuroscience healthcare; Yale-New Haven Hospital ranks 13th amongst psychiatry hospitals and 32nd for Neurology and Neurosurgery. Neuroscience research in the region is particularly strong. Yale University ranks 4th worldwide for neuroscience publications and citations.
Neuroscience at Yale University draws on the knowledge and expertise of 99 faculty members, representing 20 departments in both the Faculty of Arts and Science and the School of Medicine, ranging from psychiatry to pharmacology, from cell biology to computer science. Additionally, research in the Kavli Institute for Neuroscience at Yale University, endowed through a commitment from the Kavli Foundation, focuses on the cerebral cortex. A multidisciplinary research strategy, ranging from molecular genetics to behavior, is used at the center to explore the development, cellular organization and function of this complex structure.
The extensive neurotechnology infrastructure of the New Haven region has not escaped the attention of big pharma. Pfizer currently runs The Clinical Research Unit (CRU) in New Haven, CT. The CRU is a state-of-the-art research facility with fifty inpatient beds. The Unit is a satellite facility of the company’s Groton/New London campus and is designed to provide comprehensive clinical care using cutting edge technology. In addition to the clinical facilities to execute clinical studies, the CRU houses sophisticated laboratories integrating the latest technology. These include a biomarker laboratory and a research pharmacy. The CRU is also highly computerized using an electronic data capture and reporting system.
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CHICAGO, IL NeuroInsights ranks the Greater Chicago Region among neurotechnology regions to watch worldwide. The region features headquarters for several public neurotechnology companies, including Acura Pharmaceuticals and Abbott Laboratories. Chicago is also a financial hub for the Midwestern United States, ranking 9th for capital with 9 risk capital sources including notable biomedical investors Baird Venture Partners, Deerfield Capital Management and Avaris Ventures.
Several large hospitals and universities are located within the greater Chicago region. Universities with a significant neurotechnology presence include Northwestern University, The University of Chicago, Loyola University and The University of Illinois-Chicago. NeuroInsights ranks the Chicago region 16th for neurotechnology healthcare; a ranking driven primarily by the region’s strength in neurology and neurosurgery. Northwestern Memorial Hospital, Rush University Medical Center, University of Chicago Medical Center and Ingalls Memorial Hospital all rank within the top 50 in the US.
SHANGHAI, CHINA Shanghai’s newly established Brain Science Institute at Fudan University highlights the region’s dedication to become an important player in the global neurotech economy. According to the Ministry of Education, Fudan University is the leading Chinese university in neuroscience with over 20 research groups. In addition to Fudan University, Shanghai is home to several other prominent universities that support scientific research, including: Shanghai Second Medical University, Shanghai Jiao Tong University, Shanghai University of Traditional Chinese Medicine, East China University of Science and Technology, East China Normal University, The Second Military Medical University.
Of particular note is the Shanghai Institute of Brain Functional Genomics (SBG), China SBG was established in January of 2002 at the East China Normal University in Shanghai. Brain Functional Genomics presents a multidisciplinary field that studies the function of genes through systematic analyses at molecular, physiological and behavioral levels in genetically modified and unmodified animals. Current and planned research includes proteomics, neural coding, neural plasticity, neurodegeneration, cognition, learning and memory.
41
Additionally, the Chinese Academy of Sciences founded the Institute of Neuroscience (ION), a multidisciplinary institution devoted to research in all areas of basic neuroscience, including molecular, cellular and developmental neurobiology, systems and computational neuroscience, as well as cognitive and behavioral neuroscience. The Institute currently has 25 laboratories in various areas of molecular, cellular and system neurobiology and is recruiting new laboratory heads at a rate of 2-3 per year, with a goal of reaching a steady-state of 30 laboratories by 2010.
Complementing Shanghai’s research strength is a long tradition of translating basic research into treatments for diseases. Founded in 1932, The Shanghai Institute of Materia Medica (SIMM) is the unique and comprehensive drug research and development institute of the Chinese Academy of Sciences. It employs some 400 staff, including over 100 senior scientists, in chemical and biological research. Its main mission is innovation in drug research via studies on the structure-activity relationships of biologically active substances.
Shanghai biotechnology and pharmaceutical enterprises that have some specializations in neuropharma include: Shanghai Pharmaceutical (Group) Corporation SPGC, Shanghai Fosun Industrial, United Gene Holdings, Shanghai Sunway Biotech, Shanghai Jiao Da Onlly. Supporting the emergence of new companies and research institute spinouts are the Shanghai Science & Technology Investment Corporation and the Shanghai Venture Capital Corporation.
CLEVELAND, OH NeuroInsights ranks Cleveland among the neurotechnology regions to watch worldwide. Cleveland is proving to be a fertile ground for new neurodevice companies with a total of 11 neurotech companies, 8 of which are focused on devices. Cleveland Clinic is not only a pioneer in the use of neurostimulation devices but has cultivated the necessary talent and capital to create innovative start-ups which stay in the region including IntElect Medical, CSF Therapeutics and NDI medical. Cleveland Clinic Innovations is the Cleveland Clinic's technology commercialization arm with a mission to "benefit the sick through the broad and rapid deployment of Cleveland Clinic technology." CCI facilitates innovation, creates spin-off companies, licenses technology, secures resources and establishes strategic collaborations with corporate partners. CCI has spun out over 24 companies to date.
42 Along with all the previously described neurotech clusters there are a few others that deserve a special mention, including; Taiwan; Seoul, South Korea; Singapore; Melborne, Australia and Bangalore, India. Many East Asian countries have provided generous public funding for nanoscience, biotechnology, or neurosciences. All over Asia, there are now initiatives to nurture biomedical technology. Locations that were previously limited to particular technologies have diversified (e.g. BioBangalore initiative). Adding to India’s potential emergence in neurotech is the National Brain Research Centre (NBRC), established in 1999 to network India’s 42 existing neuroscience centers.
43 Conclusions and Policy Recommendations
The following is a condensed list of specific projects that regional governments can engage in their quest to develop a strong neurotech industry. NeuroInsights can assist in more detailed development planning and implementation.
Development projects that can be implemented in a short-term, exploratory manner: Neurotechnology Thought Leadership Forums of leading academics, neurotech executives, and public policy experts; “Venture fairs” to bring together neurotech companies; Regional competitive assessment of neurotechnology activity to determine strengths Collaboration development of basic neuroscience institutions with large consortia (e.g. Human Brain Project, International Consortium for Brain Mapping, Allen Brain Atlas). Government sponsored risk capital and incubators
Subsequent steps can create comparative advantage, strengthening the neurotech cluster. Topics and projects of this second phase might include: Public neurotechnology policies, R&D objectives and funding agencies (“Neurotechnology Initiative”; “Institute for Converging Technologies”; Neurotech Cluster Development); The “Brain Resource Center”: a multimodal laboratory to improve learning and education; cognitive tests and other psychodynamic profiles are used for the optimization of memory and mental performance A specialized neurotechnology contract research zone (CRO-zone) to attract highly focused small companies with unique capabilities;
The most advanced phase generates products from co-incubated technologies. Extrapolating from previous stages, the following items may characterize this phase: Novel product mixes and unique combinations that take existing products or services and re-design and add value based on converging technologies Streamlined product co-development of different industrial sectors, partnerships of unparalleled scope (e.g. education + healthcare + neurotech + tourism) Tax breaks and underwritten facilities for long term research and development projects and companies in targeted industries.
44 Report Data- Breakdown by Individual Metrics
TOP REGIONS FOR NEUROTECH COMPANIES
Neurotechnology companies provide both the backbone of a region’s biotechnology infrastructure and evidence of sufficient resources in a given area. Companies cannot exist without adequate financial capital, technical knowledge, facilities and skilled labor. The neurotechnology industry requires particularly heavy reliance on all of the above. Subsequent to their initial formation, technology companies function to facilitate the formation of additional companies in a feed forward loop by clustering the resources necessary for formation of new companies. The recent emergence of virtual companies challenges the above assumptions. In some cases, companies are run from a distance, with geographically distributed talent and facilities, but eventually resources are pooled in the region with the most potential.
Listed below are the top regions for neurotechnology companies along with individual breakdowns by financing (private and public) and the NeuroInsights’ taxonomy (neuropharmaceutical, neurodevice, neurodiagnostic).
Total Pharma Device Diagnostic Region Rank Companies Companies Companies Companies San Francisco 1 94 57 30 7 Boston 2 75 48 15 12 New York 3 60 46 10 4 San Diego 4 44 34 7 3 LA/Irvine 5 37 21 14 2 London 6 35 22 6 7 Philadelphia 7 31 27 3 1 Baltimore 8 27 22 4 1 Minneapolis 9 23 4 18 1 Raleigh/Durham 10 18 15 1 2 Tel Aviv 11 17 9 7 1 Seattle 11 17 12 4 1 Tokyo 13 12 11 0 1 Cleveland 14 11 1 8 2 Basel/Zurich 14 11 8 2 1
45 TOP REGIONS FOR PRIVATE NEUROTECH COMPANIES
Private companies provide a metric for assessing not only regional talent, but also the availability of funding for neurotechnology investment. Below are listed the top regions for private neurotechnology companies (neuropharmaceutical, neurodevice and neurodiagnostic).
Private Region Rank Neurotech Companies San Francisco 1 69 Boston 2 54 San Diego 3 34 New York 4 29 Los Angeles 5 25 London 6 25 Baltimore 7 19 Philadelphia 8 18 Minneapolis 8 18 Raleigh/Durham 10 16 Seattle 11 15 Tel Aviv 12 14 Cleveland 13 10 Pittsburgh 14 8 Montreal 15 6 Toronto 16 7 Basel/Zurich 18 6 Paris 18 6 Atlanta 20 4 Denver 20 4 Chicago 20 4
46 TOP REGIONS FOR PUBLIC NEUROTECH COMPANIES
Public companies provide a metric for assessing the success of private companies in a region as well as the presence of an infrastructure to support public companies. Below are listed the top regions for public neurotechnology companies (neuropharmaceutical, neurodevice and neurodiagnostic).
Public Region Rank Neurotech Companies New York 1 31 San Francisco 2 25 Boston 3 21 Philadelphia 4 13 Los Angeles 5 12 Tokyo 5 12 London 7 10 San Diego 7 10 Baltimore 9 8 Osaka 10 7 Minneapolis 11 5 Basel/Zurich 11 5 Stockholm 13 4 Houston 13 4 Melbourne 13 4 Toronto 13 4 Miami 13 4 Montreal 18 3 Brussels 18 3 Salt Lake City 18 3 Vancouver 18 3 Dusseldorf 18 3 Tel Aviv 18 3
47 TOP REGIONS FOR NEUROPHARMACEUTICAL COMPANIES
The neuropharmaceutical sector includes companies that develop pharmaceuticals, biologics, and cell-based therapeutics for the brain and nervous system. In 2008, global neuropharmaceutical sales were $121.6 billion, with 9.3% annual growth, according to the Neurotechnology Industry 2009 Report published by NeuroInsights. This is compared to $773 billion and 8.1% growth (4.2% growth in constant dollars) for the overall pharmaceutical market, according to IMS Health. Neuropharmaceuticals are the top sales category of drugs worldwide. Therapeutics currently generating the highest revenues are treatments for pain, antipsychotics, antiepileptics, and antidepressants.
Despite progress in the development of new treatments, low efficacy and side effects associated with current drugs leave plenty of room for innovative treatments to achieve rapid market uptake. For example, current treatments for Alzheimer’s offer only symptomatic relief and mainly only for the early stages of the disease. Alzheimer’s affects 10% of Americans over age 65 and 50% over 85. With an average duration of eight to 10 years from onset until death, the annual cost of Alzheimer’s to the US economy now exceeds $145 billion. The life expectancy of the general population is increasing such that the proportion of the world population over age 60 is forecast by the World Health Organization to double between 2000 and 2050. This suggests that the number of individuals suffering from age related diseases like Alzheimer’s disease, Parkinson’s disease, and sensory disorders will dramatically increase, creating a substantial market opportunity for neuropharmaceutical companies.
Neuropharma Region Rank Companies San Francisco 1 57 Boston 2 48 New York 3 46 San Diego 4 34 Philadelphia 5 27 London 6 22 Baltimore 7 22 Los Angeles 8 21 Raleigh/Durham 9 15 Seattle 10 12 Tokyo 11 11
48 Tel Aviv 12 9 Basel/Zurich 13 8 Toronto 13 8 Osaka 16 7 Montreal 17 6 Stockholm 17 6 Geneva 17 6 Cleveland 20 5
Neuropharmaceutical Bias of the Top 15 regions Neuropharmaceutical companies dominate the neurotechnology landscape in most regions. Of the top regions for neurotech companies, Philadelphia and Raleigh/Durham had the highest proportion of neuropharmaceutical companies with greater than 80% of the companies identified being pharma companies. Conversely, Minneapolis, Tel Aviv, Los Angeles, and Cleveland are the only regions with fewer than 60% of the companies are pharma companies.
49 TOP REGIONS FOR NEURODEVICE COMPANIES
Neurodevice Region Rank Companies San Francisco 1 30 Minneapolis 2 18 Boston 3 15 Los Angeles 4 14 New York 5 10 Cleveland 6 8 San Diego 7 7 Tel Aviv 7 7 London 9 6 Seattle 10 4 Dallas 10 4 Baltimore 10 4 Pittsburgh 10 4 Atlanta 14 3 Philadelphia 14 3 Kalamazoo 14 3 Houston 14 3 St Louis 14 3 Gainesville 14 3 Madison 14 3 San Diego 14 3 Cincinnati 14 3
50 Neurodevice Bias of the Top 15 Regions Neurodevice companies are in the minority of companies for most of the regions examined. Notable exceptions include neurodevice heavy regions like Minneapolis, Tel Aviv and Los Angeles. On the other end of the spectrum, the company balance of 8 of the top 15 regions showed less than 20% neurodevice companies.
51 TOP REGIONS FOR NEURODIAGNOSTIC COMPANIES
Neurodiagnostic Region Rank Companies Boston 1 12 San Francisco 2 7 London 3 7 New York 4 4 San Diego 5 3 Los Angeles 6 2 Raleigh/Durham 7 2 Paris 7 2 Madison 7 2 Cleveland 7 2 New Haven 7 2 Houston 7 2 Tuscon 7 2 Chicago 14 2 Baltimore 14 1 Toronto 14 1 Austin 14 1 Copenhagen 14 1 Atlanta 14 1 St Louis 14 1 Montreal 14 1 Pittsburgh 14 1 Munich 14 1 Salt Lake City 14 1 Gainesville 14 1 Madison/Milwauk 14 1 ee Tokyo 14 1 Basel/Zurich 14 1 Philadelphia 14 1 Tel Aviv 14 1 Minneapolis 14 1
52 TOP REGIONS FOR NEUROTECH RISK CAPITAL In 2008, venture capital investment in neurotech companies (including drugs, devices and diagnostics) dropped 22% to $1.44 billion according to data compiled by NeuroInsights, while overall venture investing was down 8% to $28.3 billion and life science investing was down 15% to $8 billion according to NVCA.
In contrast, during 2007 venture capital investment in neurotech companies rose over 5% to an all time record of $1.77 billion, while overall venture investing rose 11% and life science investing rose 20%. In 2006, neurotech investing rose 7% to $1.68 billion, while overall venture investing rose 9% and life science investing rose 13%.
While investment firms certainly do not always invest locally, offices are often located in regions of particular interest and investment focus. Local companies will have increased access to nearby investors for personal meetings and board meetings and are often favored by venture capitalists. The chart below ranks the number of risk capital sources in a particular region. All offices of private and public investment firms were included that made at least one neurotech investment between 2007 and 2009 according the Neurotech Insights Archive.
Risk Capital Region Rank Sources San Francisco 1 99 New York 2 62 Boston 3 41 Philadelphia 4 22 London 5 21 San Diego 6 12 Los Angeles 7 11 Paris 8 10 Seattle 9 9 Chicago 9 9 Montreal 9 9 Pittsburgh 12 8 Baltimore 13 7 Basel/Zurich 13 7 Stockholm 13 7 Tel Aviv 13 7 Minneapolis 13 7 Munich 18 6
53 Vancouver 19 5 Salt Lake City 19 5 St Louis 19 5 Indianapolis 19 5 Copenhagen 19 5 Helsinki 19 5 Louisville 19 5
Examining the composition of neurotechnology investments by city reveals proportions that mirror the company makeup of each region. Notably, only San Francisco and Boston funded neurodiagnostic companies to a significant extent.
54 TOP REGIONS FOR NEUROTECH INFRASTRUCTURE NeuroInsights ranks region infrastructure by assessing neurotechnology education, neurotechnology healthcare and neurotechnology research. All three parameters are equally weighted to create an overall infrastructure ranking.
Neurotech Neurotech Neurotech Overall Region education Healthcare Research Rank Rank Rank Rank Boston 1 1 1 1 Baltimore 2 4 2 2 San 3 2 6 3 Francisco Los Angeles 4 5 3 6 San Diego 5 3 >10 8 New Haven 5 7 >10 4 New York 5 10 4 9 Houston 8 >10 7 7 Minneapolis 10 >10 5 >10 Munich 10 >10 >10 5 Detroit 11 6 >10 >10 Madison 12 8 >10 >10 Atlanta 12 >10 8 >10 Philadelphia 14 9 >10 >10 Cleveland 14 >10 9 >10 Miami 14 >10 9 >10 St Louis 17 >10 >10 10
*rankings favor US institutions as no direct comparison made between US and foreign Graduate programs or Hospitals.
55 TOP REGIONS FOR NEUROTECH EDUCATION
Graduate education provides a steady stream of skilled labor for neurotech companies and investment firms. It also serves as a cluster for neurotechnology innovation by providing skilled labor for academic research laboratories. Neurotech education rankings are a composite of the ranking for psychology programs and neurobiology programs.
Overall Neurotech Education Ranking Region Psych Neuro Region Ranking Ranking Ranking Boston 1 4 1 San 2 3 2 Francisco San Diego 3 5 4 Baltimore 4 8 3 Los Angeles 5 1 8 Detroit 6 1 >10
New Haven 7 8 6 Madison 8 6 >10 Philadelphia 9 7 >10 New York 10 >10 9
Psychology program rankings, US News and World Report, 2009. Psych University Ranking University of California--Los Angeles 1 University of Michigan--Ann Arbor 1 University of California--Berkeley 3 University of California--San Diego 3 University of Wisconsin--Madison 4 Massachusetts Institute of Technology 5 Princeton University 6 Johns Hopkins University 7 Yale University 7 Harvard University 9 Stanford University 10
56
Neurobiology program rankings, US News and World Report, 2009. Neuroscience University Ranking Harvard University 1 Stanford University 2 Johns Hopkins University 3 Massachusetts Institute of Technology 4 University of California--San Diego 5 University of California--San Francisco 6 Yale University 7 Rockefeller University 7 Washington University in St. Louis 9 California Institute of Technology 10 Columbia University 10
57 TOP REGIONS FOR NEUROTECH HEALTHCARE
Hospitals provide for the advancement of neurotechnology in a region by providing the means for translating basic research into novel therapies for brain related illness. Specifically, hospitals provide a base of patients for clinical trials as well as provide physicians qualified to invent and evaluate medical therapies. NeuroInsights ranks regions for neurotechnology healthcare by ranking medical facilities for psychiatry, ophthalmology and neurology and neurosurgery.
Neurology Overall Psychiatry Ophthalmology and Region Rank Ranking Ranking Neurosurgery Rank Boston 1 1 4 3 Baltimore 2 2 2 2 Los Angeles 3 4 5 6 New York 4 3 15 2 Minneapolis 5 6 13 1 San Francisco 6 8 10 4 Houston 7 5 14 9 Atlanta 8 9 >15 10 Cleveland 9 >12 11 5 Miami 9 >12 1 >11 St Louis 11 12 >15 7 Philadelphia 12 >12 3 >11 Raleigh/Durham 13 10 >15 >11 Iowa City 14 >12 6 >11 Pittsburgh 15 7 >15 11 Chicago 16 >12 >15 8 New Haven 17 11 >15 >11
58 Psychiatry Hospital Rankings, US News and World Report, 2009. Hospital Location Rank Massachusetts General Hospital Boston, MA 1 Johns Hopkins Hospital Baltimore, MD 2 New York-Presbyterian Univ. Hosp. of Columbia and 3 Cornell New York, NY McLean Hospital Belmont, MA 4 UCLA's Neuropsychiatric Hospital Los Angeles, CA 5 Menninger Clinic Houston, TX 6 Sheppard and Enoch Pratt Hospital Baltimore, MD 7 Mayo Clinic Rochester, MN 8 UPMC-University of Pittsburgh Medical Center Pittsburgh, PA 9 Stanford Hospital and Clinics Palo Alto, CA 10 Emory University Hospital Atlanta, GA 11 Duke University Medical Center, Durham Durham, NC 12 Yale-New Haven Hospital New Haven, CT 13 Barnes-Jewish Hospital/Washington University Saint Louis, MO 14 Austen Riggs Center Stockbridge, MA 15 NYU Medical Center New York, NY 16 Methodist Hospital Houston, TX 17 University of California, San Francisco Medical Center San Francisco, CA 18 Long Island Jewish Medical Center New Hyde Park, NY 19 Mount Sinai Medical Center New York, NY 20 University of California, San Diego Medical Centen San Diego, CA 21 Cleveland Clinic Cleveland, OH 22 Hartford Hospital's Institute of Living Hartford, CT 23 Hospital of the University of Pennsylvania Philadelphia, PA 24
59 Ophthalmology Hospital Rankings, US News and World Report, 2009. Hospital Location Rank Bascom Palmer Eye Institute at the University of Miami Miami, FL 1 Wilmer Eye Institute, Johns Hopkins Hospital Baltimore, MD 2 Wills Eye Hospital Philadelphia, PA 3 Massachusetts Eye and Ear Infirmary Boston, MA 4 Jules Stein Eye Institute, UCLA Medical Center Los Angeles, CA 5 University of Iowa Hospitals and Clinics Iowa City, IA 6 Doheny Eye Institute, USC University Hospital Los Angeles, CA 7 Duke University Medical Center Durham, NC 8 Emory University Hospital Atlanta, GA 9 University of California, San Francisco Medical Center San Francisco, CA 10 Cleveland Clinic Cleveland, OH 11 Barnes-Jewish Hospital/Washington University Saint Louis, MO 12 Mayo Clinic Rochester, MN 13 Cullen Eye Institute, Methodist Hospital Houston, TX 14 New York Eye and Ear Infirmary New York, NY 15 W.K. Kellogg Eye Center, University of Michigan Ann Arbor, MI 16
60 Neurology and Neurosurgery Hospital Rankings, US News and World Report, 2009. Hospital Location Rank Mayo Clinic Rochester, MN 1 Johns Hopkins Hospital Baltimore, MD 2 Massachusetts General Hospital Boston, MA 3 University of California, San Francisco Medical Center San Francisco, CA 4 New York-Presbyterian Univ. Hosp. of Columbia and 5 Cornell New York, NY Cleveland Clinic Cleveland, OH 6 Ronald Reagan UCLA Medical Center Los Angeles, CA 7 Barnes-Jewish Hospital/Washington University Saint Louis, MO 8 St. Joseph's Hospital and Medical Center Phoenix, AZ 9 NYU Medical Center New York, NY 10 Northwestern Memorial Hospital Chicago, IL 11 Methodist Hospital Houston, TX 12 Emory University Hospital Atlanta, GA 13 UPMC-University of Pittsburgh Medical Center Pittsburgh, PA 14 Rush University Medical Center Chicago, IL 15 Mount Sinai Medical Center New York, NY 16 Cedars-Sinai Medical Center Los Angeles, CA 17 University of Texas Southwestern Medical Center Dallas, TX 18 University of Chicago Medical Center Chicago, IL 19 Duke University Medical Center Durham, NC 20 Brigham and Women's Hospital Boston, MA 21 University of Washington Medical Center Seattle, WA 22 Hospital of the University of Pennsylvania Philadelphia, PA 23 Clarian Health Indianapolis, IN 24 University of Iowa Hospitals and Clinics Iowa City, IA 25 Henry Ford Hospital Detroit, MI 26 Harper University Hospital Detroit, MI 27 Stanford Hospital and Clinics Palo Alto, CA 28 St. Luke's Episcopal Hospital Houston, TX 29 University of Minnesota Medical Center Minneapolis, MN 30 University of Michigan Hospitals and Health Centers Ann Arbor, MI 31 Yale-New Haven Hospital New Haven, CT 32 University of Virginia Medical Center Charlottesville, VA 33 Christ Hospital Cincinnati, OH 34 Abbott Northwestern Hospital Minneapolis, MN 35 Beaumont Hospital Royal Oak, MI 36 Sutter Medical Center Sacramento, CA 37 Ingalls Memorial Hospital Harvey, IL 38 University of Miami, Jackson Memorial Hospital Miami, FL 39
61 Sinai-Grace Hospital Detroit, MI 40 Nebraska Medical Center Omaha, NE 41 St. John Hospital and Medical Center Detroit, MI 42 Mount Sinai Medical Center Miami Beach, FL 43 Shands at the University of Florida Gainesville, FL 44 Methodist Hospital Gary, IN 45 Willis-Knighton Medical Center Shreveport, LA 46 Sinai Hospital of Baltimore Baltimore, MD 47 Jewish Hospital Louisville, KY 48 USC University Hospital Los Angeles, CA 49 Hackensack University Medical Center Hackensack, NJ 50
62 TOP REGIONS FOR NEUROTECH RESEARCH Neuroscience research provides the basis for neurotechnology innovation by providing skilled labor and intellectual property. Successful academic researchers tend to start companies close to their laboratories, further serving to cluster resources in a particular region.
According to Thomson Reuters's Essential Science Indicators, most neuroscience research takes place inside the United States.
Neuroscience Publications by Nation Nation Papers Citations United States 116,236 2,546,126 England 22,698 493,246 Germany 26,379 467,220 Canada 17,456 314,550 France 16,133 269,663 Italy 16,686 221,945 The 8,469 132,033 Netherlands Sweden 7,091 127,091 Switzerland 6,205 122,683 Australia 6,966 102,136 Israel 4,003 67,191 Belgium 3,400 57,356 Scotland 3,033 55,833 Finland 3,154 50,876 Austria 2,742 47,294 Denmark 2,740 44,420 Hungary 2,334 31,585 Norway 1,671 29,285 Wales 1,092 18,553 Ireland 944 14,265
63 Further breakdown of publication and citation data shows that nine of the top 10 cities for neuroscience publication are within the United States.
Neuroscience Publications by Region Region Region Papers Citations Rank Boston 1 7788 262324 Baltimore 2 5846 172343 San Francisco 3 5108 170020 New Haven 4 3118 92359 Munich 5 3245 89610 Los Angeles 6 3694 84922 Houston 7 4217 84383 San Diego 8 2888 82767 New York 9 3206 81387 St Louis 10 2404 79410
64 Neuroscience Publications by Institution Institution Region Papers Citations Harvard University Boston 5840 186868 Johns Hopkins University Baltimore 3909 111844 University of California San Francisco San Francisco 2836 98750 Yale University New Haven 3118 92359 Max Planck Society Munich 3245 89610 University of California Los Angeles Los Angeles 3694 84922 University of Texas Austin 4217 84383 University of California San Diego San Diego 2888 82767 Columbia University New York 3206 81387 Washington University St. Louis 2404 79410 University College London London 3235 78314 University of Pennsylvania Philadelphia 3056 72683 McGill University Montreal 2980 69911 University of Pittsburgh Pittsburgh 2703 65785 University of Washington Seattle 2528 61124 Karolinska Institute Stockholm 3011 56784 Massachusetts General Hospital Boston 1948 75456 National Institute of Mental Health Baltimore 1937 60499 Stanford University San Francisco 2272 71270
65 Neurotech in Big Pharma
Large public pharmaceutical companies comprise a significant proportion of the neuropharmaceutical industry. These companies provide financial and intellectual capital as well as R&D infrastructure and employee training. An additional aspect of big pharma involvement is the acquisition of private companies and assets for further development. From 2006-2008, there were 98 total neuroscience licensing deals, driven in large part by shrinking big pharma pipelines and generic competition.
While of vital importance to the neuropharmaceutical industry, big pharmaceutical companies are often very diffusely located and therefore it is difficult to attribute their resources to a specific geography. We therefore have not attempted to assess contributions to the top neurotech regions, but instead have evaluated companies without respect to geography.
Herein are contained brief synopses of the top public pharmaceutical companies for neuroscience. Companies were evaluated for the number of neuropharma compounds in their pipeline as well as in production. Rankings are based upon the total number of compounds in the pipeline and in production. Pipeline information is taken from company websites and press releases. In addition, where possible, we have identified the locations of company headquarters, research facilities and neurotechnology research facilities.
NeuroInsights’ analysis of big pharmaceutical neuropharma efforts stratifies companies into three tiers, top, middle and bottom. Top tier companies include the newly merged Pfizer/ Wyeth, GlaxoSmithKline and newly merged Merck/ Schering-Plough. Middle tier companies, AstraZeneca, Eli Lilly & Co., and Roche Holding all have significant neurotechnology resources, but lag behind the top tier companies. Finally, in the bottom tier are large public pharmaceutical companies with an even less significant neuroscience focus which include Abbott Laboratories, Novartis AG, Johnson & Johnson and Bristol-Myers Squibb Co. It should be noted that Johnson & Johnson has a significant neurodevice presence and Abbott a significant diagnostic presence that is not considered in this ranking.
66 BIG PHARMA NEUROSCIENCE RANKINGS Neuro Neuro Company Overall Headquarters compounds compounds on Ranking in pipeline the market Pfizer/ Wyeth 1 New York 31 (21,10)* 27 (24,3)* GlaxoSmithKline plc 2 London 29 10 Merck/ Schering- 3 New York 16 (9, 7)* 16 (8,8)* Plough AstraZeneca plc 4 London 15 12 Eli Lilly & Co. 5 Indianapolis 16 5 Roche Holding Ltd. 6 Basel 1 14 Not Abbott Laboratories 7 Chicago 13 disclosed Novartis 8 Basel 7 6 Johnson & Johnson 8 New York 5 8 Bristol-Myers Squibb 10 New York 2 5 *Numbers in parentheses indicate premerger values for each company
67 TOP REGIONS FOR BIG PHARMA HEADQUARTERS Big Pharma Region Headquarters New York 5 London 2 Basel 2 Indianapolis 1 Chicago 1
TOP REGIONS FOR BIG PHARMA NEUROTECH RESEARCH Dedicated Neurotech Region Research Centers London 2 Philadelphia 2 New Haven 2 Boston 2 Basel 1 San Francisco 1 San Diego 1 Glascow 1 Toronto 1 Montréal 1
68 Company Summaries
PFIZER Web Site www.pfizer.com
Market Cap 97.71B
Number of Employees 80,250
Neuropharmaceuticals on the Market Trade Name Indication(s) Antivert Motion Sickness Aricept Dementia Celebrex Pain Cerebyx Epilepsy Chantix Smoking Cessation Dilantin Capsules, Kapseals, Infatabs, -125 Epilepsy Geodon Schizophrenia Halcion Insomnia Lyrica Neuropathic Pain Nardil Depression Navane Psychosis Neurontin Neuropathic Pain Nicotrol NS, Inhaler Smoking Cessation Rebif Multiple Sclerosis Relpax Migraine Sinequan Depression, Anxiety Vistaril Anxiety, Insomnia Xanax, XR Anxiety Zoloft Depression, OCD, PD, PTSD
Neuropharmaceutical Pipeline (3/31/2009) Phase I Phase II Phase III NDA Total Psych 2 2 0 1 5 Schizophrenia 2 2 4 Bipolar 1 Anxiety Depression Addiction Neuro 3 2 1 0 6 Alzheimer’s 3 2 1 6 Epilepsy Insomnia Migraine MS
69 Parkinson’s SCI Stroke Pain 3 3 1 0 7 Optho 0 1 1 0 2 Other 0 1 (GBM) 0 0 1 Total 8 9 3 1 21
Corporate Headquarters 235 East 42nd Street New York, NY 10017 United States
Research Facilities Groton & New London, Connecticut Sandwich, England La Jolla, California St. Louis, Missouri Rinat, South San Francisco, California Cambridge, Massachusetts
Neuroscience Research Facilities New London, Connecticut Pfizer’s world-class research and development centers in Groton and New London make Connecticut the headquarters of Pfizer Global Research & Development and a major hub of drug discovery, metabolism and development as well as animal health and drug safety evaluation.
Groton/New London is where many of the discoveries and innovations that drive the Pfizer pipeline to new potentials are made. A research and development distribution center of sorts, Groton/New London sends out vital information, tools, technologies, and compounds to scientists and researchers at every level of drug discovery and development across every Therapeutic Area. The discoveries made at Groton/New London provide research teams throughout Pfizer Global R&D with many of the key insights, data, drug targets, and compounds they need to find and develop effective new treatments to improve the health and wellness of people around the world. Therapeutic Areas: Inflammation Development, Infectious Diseases (Antibacterials), Cardiovascular/Metabolic Diseases, Neurosciences, Dermatology
Rinat, South San Francisco, California Rinat is a pioneer in developing protein-based therapeutics and was acquired by Pfizer in 2006. It is now an integral part of Pfizer's Biotherapeutics Research and collaborates with the company's other sites on research that addresses significant unmet medical needs in Neurology, Oncology, Infectious Disease and Cardiovascular, Metabolic and Endocrine Diseases. At Rinat, protein engineers, pharmacologists, biochemists and others bring expertise in developing novel protein- based therapeutics and, by integrating their work in the drug discovery process, have the potential to significantly reduce the amount of time it takes to bring new medicines to patients.
70 WYETH Web Site www.wyeth.com
Market Cap 59.70B
Number of Employees 47,426
Neuropharmaceuticals on the Market Trade Name Indication(s) Effexor, XR Depression Pristiq Depression
Neuropharmceutical Pipeline (5/6/2009) Preclinical Phase I Phase II Phase III NDA Total Psych 0 2 2 0 0 4 (4) Schizophrenia 2 Bipolar 1 Anxiety Depression 1 Addiction Neuro 6 2 3 1 0 12 (6) Alzheimer’s 4 2 3 1 0 Epilepsy Insomnia Migraine MS 1 Parkinson’s SCI Stroke 1 Pain 2 0 0 0 0 2 (0) Optho 0 0 0 0 0 0 Other 0 0 0 0 0 0 Total 8 4 5 1 0 18 (10) Values in parenthesis do not include preclinical compounds.
Corporate Headquarters Five Giralda Farms Madison, NJ 07940 United States
Research Facilities Monmouth Junction, NJ Mexico City, Mexico Dublin, Ireland Aprilia, Italy Madrid, Spain
71
Neuroscience Research Facilities Specific research areas not attributed to individual research facilities.
GLAXOSMITHKLINE PLC Web Site www.gsk.com
Market Cap 90.41B
Number of Employees 99,003
Neuropharmaceuticals on the Market Trade Name Indication(s) Amerge Migraine Dexedrine Narcolepsy, ADHD Imitrex Migraine Lamictal Epilepsy Parnate Depression Paxil Depression, OCD, PD, GAD, PTSD Requip Parkinson’s, RLS Treximet Migraine Wellbutrin Depression, ADHD Zyban Smoking Cessation
Neuropharmceutical Pipeline (2/2009) Phase I Phase II Phase III NDA Total Psych 10 3 0 0 13 Schizophrenia 3 3 Bipolar 1 1 Anxiety Depression 4 2 6 Addiction 2 1 3 Neuro 3 5 5 4 17 Alzheimer’s 2 2 1 5 Epilepsy 2 1 3 Insomnia 1 1 1 3 Migraine 1 1 2 MS 1 1 2 Parkinson’s 1 2 SCI Stroke 1 2 Pain 1 2 0 0 3 Optho 0 0 0 0 0 Other 0 0 0 1 (RLS) 1
72 Total 14 10 5 5 34
Corporate Headquarters 980 Great West Road Brentford Middlesex, ENG TW8 9GS United Kingdom
Research Facilities UK Stevenage Gunnels Wood Road, Stevenage, Herts, SG1 2NY The Frythe Welwyn, Hertfordshire, AL6 9AR Greenford Greenford Road, Greenford, Middlesex, UB6 OHE Beckenham South Eden Park Road, Beckenham, Kent. BR3 3BS Tonbridge Old Powder Mills, Near Leigh, Tonbridge, Kent. TN11 9AN Harlow New Frontiers Science Park, Third Avenue, CM19 5AW Ware Research & Development, Park Road, Ware, SG12 ODP
US Boston 830 Winter Street, Waltham, MA 02451 Research Triangle Park Research & Development 5 Moore Drive, PO Box 13398 Research Triangle Park NC 27709 Upper Providence 1250 South Collegeville road, Collegeville. PA 19426 Upper Merion 709 Swedeland road. King of Prussia. PA 19406
Europe Les Ulis, France Research Center, 25,27 avenue du Québec, ZA de Courtaboeuf, 91951 Les Ulis cedex Tres Cantos, Spain PTM C/Severo Ochoas 2,28760 Tres Cantos, Madrid Verona, Italy Vai Alessandro Fleming 2/4-37135 Verona Zagreb, Croatia Prilaz baruna Filipovica 29, 10000 Zagreb
Japan Takaski Laboratory 168, Ohyagi-machi Takasaki-shi Gunma-ken 370-0072 Tsukuba Laboratories 43 Wadai Tsukuba-shi Ibaraki 300-4247
China
73 R&D China Building 3, 898 Halei Rd, Zhangjiang Hi-Tech Park, Pudong, Shanghai, China
Neuroscience Research Facilities GlaxoSmithKline plc makes no mention of particular research facilities with a neuroscience focus.
MERCK Web Site www.merck.com
Market Cap 56.96B
Number of Employees 55,200
Neuropharmaceuticals on the Market Trade Name Indication(s) Cosopt Elevated Intraocular Pressure Emend Chemo-related Nausea/Vomiting Lacrisert Dry Eye Syndromes Maxalt, -MLT Migraine Timoptic, -XE Elevated Intraocular Pressure Trusopt Elevated Intraocular Pressure
Neuropharmaceutical Pipeline (2/15/2009) Phase I Phase II Phase III NDA Total Psych 3 1 0 0 4 Schizophrenia Bipolar Anxiety Depression Addiction Neuro 2 1 1 1 5 Alzheimer’s 1 1 Epilepsy Insomnia 1 MS Parkinson’s SCI Stroke Migraine 1 1 Pain 0 0 0 0 0 Optho 0 0 0 0 0
74 Other 0 0 0 0 0 Total 5 2 1 1 9
Corporate Headquarters One Merck Drive P.O. Box 100 Whitehouse Station, NJ 08889 United States
Research Facilities USA Rahway, New Jersey West Point, Pennsylvania Automated Biotechnology, North Wales, Pennsylvania GlycoFi, Lebanon, New Hampshire Merck Research Laboratories, Boston, Boston, Massachusetts Rosetta Inpharmatics, Inc., Seattle, WA Sirna Therapeutics, San Francisco, CA
Canada Merck Frosst Centre for Therapeutic Research, Montreal, Quebec
Europe Merck Sharp & Dohme Research Laboratories, Hoddesdon, Herts, United Kingdom Institute for Research in Molecular Biology, Pomezia, Italy Laboratoires Merck Sharp & Dohme, Chibret Research Center, Riom, France
Asia Banyu Pharmaceutical Co., Ltd., Tokyo and Tsukuba, Japan
Neuroscience Research Facilities Merck Research Laboratories, Boston, Boston, Massachusetts Founded in August 2004, Merck Research Laboratories (MRL) Boston is dedicated to discovering and developing medicines for cancer and neurodegenerative disorders. We utilize the most advanced technologies and share a team-oriented, accelerated approach to our research and innovation, thus transforming our drug development vision into reality. We are guided by an unwavering commitment to scientific excellence, high ethical standards and patient safety that dates back to Merck’s founding in 1891.
Located in the heart of Boston’s Longwood medical area, our state-of-the-art research facility is at the center of the emerging hub of premier biomedical research in North America. Our proximity to this world-renowned academic research community, leading hospitals and local biotechnology firms offers competitive advantages. Our alliances form an integral and vital part of our long-term business and research strategy. Our door is always open to collaboration, and MRL Boston is a first-choice research partner.
Merck Sharp & Dohme Research Laboratories, Hoddesdon, Herts, United Kingdom The UK team based at Hoddesdon is one of three PR&D groups world-wide. This group has a specific interest in developing new medications to treat migraine headache. It is a multi- disciplinary group, working closely with Merck Research Laboratories' scientists world-wide and
75 with global medical, manufacturing and marketing teams. Its primary function is to develop potential drugs from the basic research stage into a marketable product.
SCHERING-PLOUGH Web Site www.schering-plough.com
Market Cap 40.09B
Number of Employees 51,000
Neuropharmaceuticals on the Market Trade Name Indication(s) Bridion Reversal of Neuromuscular Blockade Norcuron Neuromuscular Blockade Remeron, soltab Depression Subutex Opioid Dependence Suboxone Opioid Dependence Temodar GBM, Astrocytoma Zemuron Neuromuscular Blockade
Neuropharmaceutical Pipeline (4/2009) Phase I Phase II Phase III NDA Total Psych ND 2 0 1 3 Schizophrenia 1 1 Bipolar Anxiety Depression 1 Addiction Neuro ND 1 2 0 3 Alzheimer’s Epilepsy Insomnia 1 Migraine MS Parkinson’s 1 SCI Stroke 1 Pain ND 0 0 1 1 Optho ND 0 0 0 0 Other ND 0 0 0 0 Total ND 3 2 2 7 ND= No Data. Company only lists compounds in Phase II or later stages of clinical development.
76 Corporate Headquarters 2000 Galloping Hill Road Kenilworth, NJ 07033 United States
Research Facilities Cambridge, Massachusetts Mexico City, Mexico Kenilworth , New Jersey Newhouse, Scotland Oss, the Netherlands Palo Alto, California Riom, France Schachen (canton of Lucerne), Switzerland Tokyo and Osaka, Japan Waltrop, Germany
Neuroscience Research Facilities Newhouse, Scotland Facility specializing in central nervous system (psychiatry and analgesia) and cardiovascular/metabolic disease research.
ASTRAZENECA PLC Web Site www.astrazeneca.com
Market Cap 62.56B
Number of Employees 65,000
Neuropharmaceuticals on the Market Trade Name Indication(s) Carbocaine Anesthesia Citanest Anesthesia Diprivan Anesthesia EMLA Anesthesia Inderal Migraine, Essential tremor Marcaine/Sensorcaine Anesthesia Mysoline Epilepsy, Essential tremor Naropin Anesthesia Seroquel Schizophrenia, Bipolar Vivalan Depression Xylocaine Anesthesia Zomig Migraine
77 Neuropharmaceutical Pipeline (1/29/2009) Phase I Phase II Phase III NDA Total Psych 4 4 0 0 8 Schizophrenia 2 1 Bipolar Anxiety 1 1 Depression 1 1 Addiction 1 Neuro 3 1 0 0 4 Alzheimer’s 1 1 Epilepsy Insomnia Migraine MS 1 Parkinson’s 1 SCI Stroke Pain 2 1 0 0 3 Optho 0 0 0 0 0 Other 0 0 0 0 0 Total 9 6 0 0 15
Corporate Headquarters 15 Stanhope Gate London, W1K 1LN United Kingdom
Research Facilities Alderley Park, UK Bangalore, India Boston, USA Charnwood, UK Lund, Sweden Mölndal, Sweden Montréal, Canada Rheims, France Osaka & Tokyo, Japan Södertälje, Sweden Wilmington, US
Neuroscience Research Facilities Montréal, Canada Some 125 people work in the Montreal R&D facility, located in the Saint-Laurent Technoparc in the heart of the city. The site plays an important role in finding new products for pain control, focusing on the mechanisms involved in the two most common types of pain - inflammatory and neuropathic.
Södertälje, Sweden AstraZeneca’s R&D organisation is headquartered in Södertälje, situated south-west of Stockholm, Sweden’s capital city. Research here is focused mainly in the neuroscience area –
78 developing new products for pain control and for treating disorders of the central nervous system. Over 1,600 people from all disciplines work in research and development at Södertälje, where we employ over 8,000 people in total.
Wilmington, US R&D Wilmington is located in Wilmington, Delaware, not far from Philadelphia. Research here is focused on pain control, neurology and psychiatry. The site is a centre of excellence in psychiatry, concentrating on developing therapies for schizophrenia, anxiety, depression, bipolar and dementia. He site employs over 2,000 people in R&D in Wilmington, which is also our US Corporate HQ with over 5,000 employees in total.
ELI LILLY & CO. Web Site www.lilly.com
Market Cap 38.95B
Number of Employees 40,250
Neuropharmaceuticals on the Market Trade Name Indication(s) Cymbalta Depression, Neuropathy, GAD, Fibromyalgia Prozac Depression, OCD, Bulimia, PD Strattera ADHD Symbyax Bipolar Zyprexa Schizophrenia, Bipolar
Neuropharmaceutical Pipeline (4/15/2009) Phase I Phase II Phase III NDA Total Psych 4 4 0 0 8 Schizophrenia 1 1 Bipolar Anxiety Depression 1 1 Addiction 2 2 Neuro 2 3 2 0 7 Alzheimer’s 1 2 1 Epilepsy Insomnia Migraine 1 1 MS 1 Parkinson’s SCI Stroke Pain 0 1 0 0 1 Optho 0 0 0 0 0
79 Other 0 0 0 0 0 Total 6 8 2 0 16
Corporate Headquarters Lilly Corporate Center Indianapolis, IN 46285 United States
Research Facilities West Ryde, New South Wales, Australia São Paulo, SP, Brazil Toronto, Canada Shanghai, China Kobe, Japan Singapore Indianapolis, IN, USA
Lilly Research Laboratories (LRL) in Europe Alcobendas, Spain Erl Wood, UK Hamburg, Germany Mont-Saint-Gibert (MSG), Belgium
Neuroscience Research Facilities Erl Wood, UK Erl Wood in the UK has a strong focus on Neuroscience, and a proven ability to deliver important new medicines. The UK Research Centre was founded in 1967 and is where the company´s most successful ever product - Zyprexa® - was discovered. This medicine has already been used by more than 18 million patients world-wide. Multidisciplinary development teams are dedicated to meeting unmet medical needs and are pursuing breakthrough medicines for Alzheimer´s disease, Parkinson´s disease, schizophrenia, and pain syndromes. Also at Erl Wood are the Clinical Pharmacology, Medical, Pharmacovigilence and Regulatory Affairs groups, which play an integral part in the discovery to launch process.
Toronto, Canada Eli Lilly Canada's state-of-the-art Research and Development Centre opened on site at the head office in Toronto in 1996. This centre is one of nine research and development centres that the company has throughout the world. It enables Canada to play an integral role in Lilly's global research efforts. The expansion has made Eli Lilly Canada one of the leading private research institutions in the country. The center focuses internal research efforts primarily on four core therapeutic areas: cardiovascular disease, endocrine disorders, neuroscience and oncology.
ROCHE HOLDING LTD. Web Site www.roche.com
Market Cap 132.1 B
80
Number of Employees 80,000
Neuropharmaceuticals on the Market Trade Name Indication(s) Valium Anxiety
Neuropharmaceutical Pipeline (7/29/2009) Phase I Phase II Phase III NDA Total Psych 0 1 0 0 1 Schizophrenia 1 Bipolar Anxiety Depression Addiction Neuro 4(1) 2 0 0 6 Alzheimer’s 4(1) 2 Epilepsy Insomnia Migraine MS Parkinson’s SCI Stroke Pain 1 0 0 0 1 Optho 1 0 2 0 3 Other 1 (ALS) 0 1 (GBM) 0 2 Total 7(1) 3 3 0 13(1) Numbers in parentheses represent compounds from the acquisition of Genentech
Corporate Headquarters Grenzacherstrasse 124 Basle, 4070 Switzerland
Research Facilities Information not made available to the public.
Neuroscience Research Facilities Information not made available to the public.
81 ABBOTT LABORATORIES Web Site www.abbott.com
Market Cap 71.52B
Number of Employees 69,000
Neuropharmaceuticals on the Market Trade Name Indication(s) Avonex Multiple Sclerosis Depacon Epilepsy Depakene Epilepsy Depakote, ER, Sprinkles Epilepsy Lexapro Depression, GAD Nimbex Neuromuscular Blockade Propofol Anesthesia Prosom Insomnia Sevorane Anesthesia Vicodin Pain Vicoprofen Pain
Neuropharmaceutical Pipeline Information not made available to the public.
Corporate Headquarters 100 Abbott Park Road Abbott Park, IL 60064 United States
Research Facilities Information not made available to the public.
Neuroscience Research Facilities Information not made available to the public.
82 NOVARTIS AG Web Site www.novartis.com
Market Cap 90.78B
Number of Employees 96,717
Neuropharmaceuticals on the Market Trade Name Indication(s) Exelon Alzheimer’s Ritalin LA ADHD Focalin XR ADHD Stalevo Parkinson’s Trileptal Epilepsy Lucentis Wet age-related macular degeneration
Neuropharmaceutical Pipeline (4/23/2009) Phase I Phase II Phase III NDA Total Psych 0 0 1 0 1 Schizophrenia Bipolar Anxiety Depression 1 Addiction Neuro 1 3 1 0 5 Alzheimer’s 1 Epilepsy Insomnia Migraine MS 1 1 Parkinson’s 1 SCI 1 Stroke Pain 0 0 0 0 0 Optho 0 0 1 0 1 Other 0 0 0 0 0 Total 1 3 3 0 7
Corporate Headquarters Lichtstrasse 35 Basel, 4056 Switzerland
Research Facilities Basel, Switzerland East Hanover, New Jersey, US
83 Cambridge, Massachusetts, US Horsham, United Kindom Shanghai, China Changshu, China Tokyo, Japan Hyderabad, India Rueil, France
Neuroscience Research Facilities Cambridge, Massachusetts, US NIBR Cambridge is located in the midst of multiple renowned academic research institutions and innovative biotech companies. The NIBT headquarters is home to research in the areas of oncology, infectious diseases, ophthalmology, and cardiovascular and metabolic diseases.
Basel, Switzerland Co-located with the corporate world headquarters, NIBR Basel is an integral part of the BioValley, europe’s biotechnology hub. Drug discovery in Basel focuses on autoimmunitry, transplantation, and inflammation as well as musculoskeletal diseases, neuroscience, and oncology.
JOHNSON & JOHNSON Web Site www.jnj.com
Market Cap 153.76B
Number of Employees 118,700
Neuropharmaceuticals on the Market Trade Name Indication(s) Axert Migraine Invega Schizophrenia Risperdal Consta Schizophrenia Concerta ADHD Reminyl/Razadyne Alzheimer’s Topamax Epilepsy Duragesic Pain Risperdal Schizophrenia, Bipolar
Neuropharmceutical Pipeline (5/6/2009) Phase I Phase II Phase III NDA Total Psych ND ND 3 0 3 Schizophrenia 1 Bipolar 2 Anxiety Depression
84 Addiction Neuro ND ND 1 0 1 Alzheimer’s Epilepsy 1 Insomnia Migraine MS Parkinson’s SCI Stroke Pain ND ND 1 0 1 Optho ND ND 0 0 0 Other ND ND 0 0 0 Total ND ND 5 0 5 ND= No Data. Company only lists compounds in Phase II or later stages of clinical development.
Corporate Headquarters One Johnson & Johnson Plaza New Brunswick, NJ 08933 United States
Research Facilities Johnson & Johnson Pharmaceutical Research & Development, L.L.C. La Jolla, CA Spring House, PA Exton, PA Spring House, PA Raritan, NJ Titusville, NJ Cranbury, NJ Toledo, Spain Val de Reuil, France High Wycombe, UK Bearse, Belgium Schaffhausen, Switzerland Mumbai, India Shanghai, China
Neuroscience Research Facilities Johnson & Johnson Pharmaceutical Research & Development, L.L.C., La Jolla, CA Johnson & Johnson Pharmaceutical Research & Development, L.L.C. (J&JPRD) in La Jolla, California was established to be a leading biotechnology center with the ambitious mission of converting genomic discoveries into marketable drugs. The center is designed to discover novel therapeutic agents that address unmet medical needs in inflammation, immunosuppression, inflammatory pain, central nervous system disorders, and metabolic diseases. Over 200 scientists comprise the Therapeutic, Enabling, and Early Development teams that drive research on campus.
85 The Neuroscience team is focused on the identification of new targets as potential opportunities for therapeutic intervention in the treatment of CNS disorders such as those involving sleep/wake, addiction, and central regulation of metabolism. The therapeutic team's primary approach involves the identification of novel targets using molecular or genomic techniques with special emphasis on GPCRs. Following the identification of a new target, high-throughput screening is applied to provide lead compounds, which then become the subject of an iterative medicinal chemistry approach to obtain small molecule drug candidates. The team concentrates on quantitative in vivo measures of drug response such as sleep/EEG, imaging, and metabolic profiling of candidate compounds that may eventually translate as biomarkers to clinical trials.
Janssen, Titusville, NJ Janssen is driven by dedication to product innovation, customer focus, and organizational excellence. Janssen Pharmaceutica joined the Johnson & Johnson family of companies in 1961. A U.S. office opened in 1973, based in the Johnson & Johnson headquarters in New Brunswick, NJ. Later, Janssen moved to two leased buildings in Piscataway, NJ, where it stayed until 1992. Janssen's current home is on 270 acres in Titusville, New Jersey. With Johnson & Johnson Pharmaceutical Research & Development, L.L.C., (J&JPRD), the company is researching and developing new compounds for a wide range of psychiatric disorders, including psychosis, sleep, attention deficit/hyperactivity, anxiety, depression, and substance abuse.
BRISTOL-MYERS SQUIBB Web Site www.bms.com
Market Cap 39.16B
Number of Employees 35,000
Neuropharmaceuticals on the Market Trade Name Indication(s) Abilify Schizophrenia, Depression, Bipolar Buspar Anxiety Desyrel Depression Lodosyn Parkinson’s Sinemet CR Parkinson’s
Neuropharmaceutical Pipeline (1/15/2009) Phase Phase III NDA Total I/II* Psych 1 0 0 1 Schizophrenia Bipolar Depression 1 Addiction Neuro 1 0 0 1
86 Alzheimer’s 1 Epilepsy Insomnia Migraine MS Parkinson’s SCI Stroke Pain 0 0 0 0 Optho 0 0 0 0 Other 0 0 0 0 Total 2 0 0 2 *= company does not distinguish between Phase I and Phase II clinical development
Corporate Headquarters 345 Park Avenue New York, NY 10154 United States
Research Facilities Braine-L'Alleud, Belgium Hopewell, New Jersey Moreton, England New Brunswick, New Jersey Plainsboro, New Jersey Rueil-Malmaison, France Tokyo, Japan Wallingford, Connecticut Waltham, Massachusetts
Neuroscience Research Facilities Wallingford, Connecticut This research facility was originally established in 1986 as Bristol-Myers' research and development headquarters. It now has 1,200 employees, the majority of them in R&D dedicated to discovering and developing medicines, particularly in the areas of neuroscience, virology and cancer.
87 AMGEN, INC. Web Site www.amgen.com
Market Cap 52.11B
Number of Employees 16,700
Neuropharmaceuticals on the Market Trade Name Indication(s) None None
Neuropharmaceutical Pipeline (2/6/2009) Phase I Phase II Phase III NDA Total Psych 1 0 0 0 1 Schizophrenia 1 Bipolar Anxiety Depression Addiction Neuro 0 0 0 0 0 Alzheimer’s Epilepsy Insomnia Migraine MS Parkinson’s Stroke Pain 0 0 0 0 0 Optho 0 0 0 0 0 Other 0 0 0 0 0 Total 1 0 0 0 1
Corporate Headquarters One Amgen Center Drive Thousand Oaks, CA 91320 United States
Research Facilities USA Thousand Oaks, CA Cambridge, MA Bothell, WA Seattle, WA San Francisco, CA
Canada
88 Mississauga, Ontario Burnaby, British Columbia
Mexico City, Mexico Morumbi, Sao Paulo, Brazil
Europe Regensburg, Germany Cambridge, UK
North Ryde, NSW, Australia Tokyo, Japan
Neuroscience Research Facilities Amgen Inc. makes no mention of particular research facilities with a neuroscience focus.
89 Resources
1. The Neurotechnology Industry 2009 Report: Drugs, Devices and Diagnostics for the Brain and Nervous System, Market Analysis and Strategic Investment Guide of the Global Neurological Disease and Psychiatric Illness Markets, published by NeuroInsights, LLC, May 2009. www.neuroinsights.com
2. Neurotech Insights Online Archive, www.neuroinsights.com
3. The Greater Philadelphia Life Science Cluster 2009, Milken Institute, May 2009.
4. US News and World Report 2009 rankings, http://grad- schools.usnews.rankingsandreviews.com/best-graduate-schools
5. Thomson Scientifics’ Essential Science Indicators database. http://science.thomsonreuters.com/training/esi/
6. The National Institutes of Health Research Portfolio Online Reporting Tool (RePORT) http://report.nih.gov/
90 About Report Authors
ZACK LYNCH, FOUNDER & EXECUTIVE DIRECTOR, NIO He is the founder of the Neurotechnology Industry Organization, a global trade association representing companies involved in neuroscience, brain research institutes and patient advocacy groups. He is also the co-founder of NeuroInsights, a market research firm that advises global organizations on the impact of neurotechnology on business, government and society. Mr. Lynch serves on the advisory boards of the McGovern Institute for Brain Research at MIT, Center for Neuroeconomic Studies at Claremont Graduate University, the Institute for Global Futures and the wiki software company, Social text. Zack Lynch is the author of The Neuro Revolution: How Brain Science Is Changing Our World, published by St. Martin’s Press (July 2009).
He is the publisher of the investment newsletter, Neurotech Insights and co-author of NeuroInsights 400-page annual investment analysis of the global neurotech industry. He also developed the NASDAQ NeuroInsights Neurotech Index, a stock tracking index for neuroscience companies. Previously, he was an executive and founder of several enterprise software companies in profit optimization, knowledge management and collaborative forecasting. Mr. Lynch speaks frequently and is quoted widely in the press including: Forbes, Conde Nast Portfolio, O the Oprah Magazine, San Francisco Chronicle, Washington Times, Scientific American, Science, and Slate.
COREY MCCANN, MD, PHD, ANALYST, NEUROINSIGHTS Dr. McCann is a physician- neuroscientist with an interest in commercializing neurotechnology. For his PhD, he studied the molecular biology of synapses at Washington University in St Louis in the Department of Anatomy and Neurobiology and at Harvard University in the Department of Molecular and Cellular Biology and the Center for Brain Science. He was also a researcher at the Massachusetts General Hospital in the Center for Molecular Imaging Research where he developed new brain imaging techniques for the visualization of brain tumors. Dr. McCann received his M.D. from Washington University in St. Louis and a B.S. in Biology with minors in neuroscience, biochemistry and molecular biology from the Pennsylvania State University. Corey has taught courses in neurobiology as well as biomedical imaging and has published over 20 papers and abstracts including lead-author studies published in Nature Neuroscience,
91 Proceedings of the National Academy of Sciences (PNAS), The Journal of Neuroscience, NeuroImage and Developmental Neurobiology, among other journals.
Dr. McCann is also heavily involved in the commercialization of science. He has studied at the Harvard Business School and worked in Venture Capital. At RiverVest Venture Partners, a venture firm in St Louis, MO, Corey analyzed pharmaceutical pipelines and early stage pharmaceuticals and medical devices. Corey is currently an Associate with McKinsey and Company in the New York Office. He serves as an analyst for NeuroInsights.
CASEY LYNCH, MANAGING DIRECTOR, NEUROINSIGHTS Casey Lynch works with companies to develop and implement strategic business plans and helps investors identify and profit from opportunities in neurotechnology. She is co-author of The Neurotechnology Industry Report, a comprehensive market analysis and strategic investment report on the brain industry and is the Managing Editor of Neurotech Insights, the neurotechnology investment newsletter. Casey is also on the Board of Directors of The Neurotechnology Industry Organization, a trade association for commercial neuroscience, and the co-founder and president of The Neurotechnology Development Foundation, a new non- profit formed to support translational research.
Previously, Casey was the co-founder and CEO of Aspira Biosystems, a venture backed drug discovery platform-company, which was acquired by Nanomune Inc. in 2004. Prior to the four years building Aspira, Casey oversaw toxicology screening and evaluated new product opportunities at Centaur Pharmaceuticals. There, she established disease model testing paradigms for multiple sclerosis, uveitis, and other neurological disorders.
Casey conducted primate preclinical trials for Alzheimer’s disease treatment at the Wadsworth Medical Center in Los Angeles and researched the neurological basis of schizophrenia and epilepsy at UCLA. Her graduate work on neurotrophic factor cell biology and neurodegenerative diseases was carried out in the Mobley lab at UCSF/ Stanford University and was funded by the NSF and an Alzheimer's Association Zenith Award. In addition to a BS in neuroscience from UCLA, she has an MS in neuroscience from UCSF and has completed the Management Development for Entrepreneurs (MDE) program of the Anderson School of Business.
92 TIM-RASMUS KIEHL, PHD. NEUROPATHOLOGIST, UNIVERSITY OF TORONTO Dr. Kiehl is a neuropathologist at the Massachusetts General Hospital in Boston, with a broad interest in neurotechnology. In his diagnostic work, he performs the processing and tissue analysis at the Mass General brain bank for neurodegenerative diseases. His current research involves the merging of brain imaging with microscopy as well as novel molecular genetic aspects of brain tumors. Rasmus is a member of the Society for Neuroscience and the College of American Pathologists. He teaches the “Human Nervous System and Behavior” course at Harvard Medical School. Rasmus moved to Los Angeles in 1999 from his native Germany to pursue postdoctoral research in neurogenetics. During that time, he worked on model systems of neurodegenerative diseases. One project led to his discovery of a new gene for obesity (Kiehl and Pulst, in progress). Prior to his current assignment, he did his residency in general anatomic pathology at Stanford University Medical Center. Rasmus lives in Cambridge, MA and can be reached at [email protected].
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