Cancer Research UK Dr Maximilian Martin, Global Head of Philanthropy, Bank Lombard Odier & Co Lt
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Cancer research funding—Navigating a competitive environment The role of collaboration and innovation 4 April 2019 Chair Miranda Brawn, Senior Business, Legal and Diversity Executive and Founder of The Miranda Brawn Diversity Leadership Foundation Panel Jonathan Tobin, Investment Director, Arix Biosciences Tony Hickson, Chief Business Officer, Cancer Research UK Dr Maximilian Martin, Global Head of Philanthropy, Bank Lombard Odier & Co Lt Cancer Research UK April 2019 TRANSLATION (DRUGS): IMPACT ON PATIENTS MULTIPLE COMMERCIALISATION APPROACHES Alliances 6 major partner alliances in our Therapeutic Discovery Labs Licences 120 existing licences Collaborations 21 collaborations completed as of 2018 Spin-outs We have been involved in the formation and development of over 30 spin-out companies 6 MULTIPLE COMMERCIALISATION APPROACHES Alliances 6 major partner alliances in our Therapeutic Discovery Labs Licences 120 existing licences Collaborations 21 collaborations completed as of 2018 Spin-outs We have been involved in the formation and development of over 30 spin-out companies 7 THE ARTIOS DEVELOPMENT STORY Nov-16 May-16 Sept-16 Dr Simon Boulton Sept-17 Feb-18 Aug-18 Seed funding Series A appointed as VP Dr Graeme Smith Pierre Legault Series B through CRUK fundraisin Science Strategy appointed as Chief appointed as fundraising of and SV Health g of Scientific Officer Chairman of BoD $84m Partners $33.2m 2016 2017 2018 Sept-16 Sept-17 May-16 Artios in-licenses Mar-18 Artios wins Biotech & CRUK and SV potential first-in- Artios exercises option to in- Money Life Science Young Health Partners class DDR license potential first-in-class Company and UK Private launch Artios programmes from nuclease programme from Finance Raise of the year Pharma to focus on CRUK, and enters Masaryk University awards DNA damage into research response collaboration with Jun-17 CRUK TDL Jun-17 Artios signs research Jun-16 Artios announces collaboration with Masaryk Dr Niall Martin formation of University to develop novel appointed as Chief world-leading SAB cancer treatments targeting Executive Officer DNA nucleases in DDR 8 DEVELOPING EARLY STAGE IDEAS TO MARKET ‘DUAL TRACK OPTION’ Entrepreneurial Track CRUK Seed (Venture Venture Funds (CRUK Pioneer Fund, Philanthropy) Syncona etc.) CRUK PoC Scale-up funds & Pre- Private Equity seed Public Markets Translational Funding (CRUK and others e.g. MRC, NIHR INDUSTRY etc.) Translational Science Track PATIENT BENEFIT 9 Investing in IP, Grant giving & alliances, start-ups, funding research seed & venture funds Endowment (acting ethically) IMPACT DRIVEN MIXED MODE IMPACT & RETURNS DRIVEN RETURNS DRIVEN 10 Investing in IP, Grant giving & alliances, start-ups, funding research seed & venture funds Endowment (acting ethically) IMPACT DRIVEN MIXED MODE IMPACT & RETURNS DRIVEN RETURNS DRIVEN 11 An opportunity? UK INSTITUTIONS INTERNATIONAL BUNCH HANNON STRATTON MEYERSON/GARRETT National Physical Laboratory CRUK Cambridge Institute Wellcome Trust Sanger Institute University of Oxford Imperial College London University of Cambridge King’s College London University of Leeds REACH OF CRUK The Francis Crick Institute Institute of Cancer Research Barts Cancer Institute WESSELING ELLEDGE TLSTY GRAND CHALLENGE CRUK Cambridge Institute Wellcome Trust Sanger Institute CRUK Manchester Institute Queen Mary University of London AstraZeneca King’s College London CRUK Beatson Institute CRUK Cambridge Institute CRUK Beatson Institute University of Birmingham CRUK Cambridge Institute Wellcome Trust Sanger Institute National Physical Laboratory British Columbia Suil Design Netherlands Cancer Institute Cancer Agency McGill Hubrecht Institute Institute for University University Systems Biology, of Guelph University of Zurich Vanderbilt Ludwig Cancer Institute Seattle University Harvard Medical School; University of VHIO – Vall Stanford University Dana-Farber Cancer Institute; California, d'Hebron Institute Baylor University Harvard TH Chan School of Public Health; IARC San Francisco of Oncology Wyss Institute; MIT; Harvard University University of California, MD Anderson Weizmann Institute San Diego Cancer Centre NYU School of Medicine of Science Memorial Sloan Kettering Cancer Center Johns Hopkins University Round 1 Round 2 BUNCH HANNON STRATTON WESSELING PIs ELLEDGE MEYERSON/GARRETT TLSTY PIs NEW STRATEGIES FOR FUNDING & COLLABORATION PARTNERSHIPS WITH CORPORATES FOR HEALTH & WELLBEING 13 NEW STRATEGIES FOR FUNDING & COLLABORATION • ENCOURAGING ENTREPRENEURSHIP IN EARLY CAREER RESEARCHERS • Mentorship Programmes • Accelerators • Pitching competitions • Innovation summits • Customer Discovery Journeys • Enterprise Fellows • Prizes SOCIAL IMPACT & CULTURE CHANGE OPPORTUNITY TO FUND AND GET INVOLVED KEEN TO LOOK AT NEW MODELS 14 NEW STRATEGIES FOR FUNDING & COLLABORATION PHILANTHROPIC CONSORTIA (VENTURE PHILANTHROPY) FOCUSED ON: Areas of unmet need or market failure in oncology FOR EXAMPLE: • Radiotherapy • Early detection & diagnosis • Paediatric medicines • Cancers with high unmet need (e.g. Pancreatic, Brain, Oesophageal, Lung, Rare) SOCIAL IMPACT MODELS? KEEN TO LOOK AT NEW MODELS OF VENTURE PHILANTHROPY HERE 15 ADAPTATION TO CONVERGENCE IN THE FUTURE “It Is Not the Strongest of the Species that Survives But the Most Adaptable” Charles Darwin Pharmaceuticals Diagnostics & devices Healthcare Business Model Convergence Digital & Technology Consumer & Insurance The future importance of data/AI, pricing & reimbursement, patient-centric, personalized health, prevention, wellness not illness Cancer research funding—Navigating a competitive environment The role of collaboration and innovation Dr. Maximilian Martin Philanthropy Services April 4, 2019 Philanthropy and sustainable investing are in our DNA 1796 1841 1863 1911 2001 Founding member of Blue Alexandre Lombard warns Contribution to the foundation Amongst the first private Swiss Orchard Finance S.A., against investing in slavery of the future Red Cross companies to establish an employee pension fund pioneer in microfinance 2004 2007 2008 2010 2012 Creation of Fondation LO adheres to the UN Principles Creation of Fondation Advancing Philanthropy Member of the Global Lombard Odier for Sustainable Investment & Philanthropia in Switzerland Report Impact Investing Network partners with Generation 2014 2016 2017 2019 Launch of LO Gateway Creation of LO Carbon Partnership with AIM for New Sustainable World’s first Received B Corp Development Finance Intensity Radar Global Climate Bond fund Development Goals “Humanitarian Impact certification Fund launch scoring methodology Bond” with ICRC Please read the important information at the end of the document 18 · Philanthropy Services · April 4, 2019 Fondation Lombard Odier and Fondation Philanthropia Our Group’s commitment . Grant-making foundation . Group allocation as well as Managing Partners’ own sheltered funds . Committed to innovation . Track record includes strategic grantees such as EPFL (the “MIT of Europe”) and International Committee of the Red Cross (ICRC), where we fund innovation projects A foundation home for our clients’ giving . Umbrella foundation: personalised funds, thematic funds, across all philanthropic causes . Effective philanthropy made simple: delegation of all related matters (strategy setting, grant making, asset management, reporting) Please read the important information at the end of the document 19 · Philanthropy Services · April 4, 2019 Why innovative finance? Enlarging the toolbox “Crowd in Physical disability is a critical issue in private Example: developing countries. Addressing Of the 90 million people with physical capital to disabilities who need a mobility device help address the worldwide, only 10%, on average, have access to adequate physical rehabilitation global Physical services. challenges” Rehabilitation This leads to social and economic exclusion. Challenge Solution pathway: The International Committee of the Red Cross (ICRC) has a strong track record in physical rehabilitation, operating since 1979 – 197 projects in 34 countries, helping almost 330,000 people with physiotherapy and mobility devices, including wheelchairs, artificial limbs and braces. Source: ICRC, UNCTAD Please read the important information at the end of the document 20 · Philanthropy Services · April 4, 2019 Innovative finance transaction example The ICRC’s first innovative financing mechanism In partnership with Lombard Odier, ICRC launched the first “Humanitarian Impact Bond” (the Programme for Humanitarian Impact Investment) . Government funding often has a time horizon of 1-2 . Adding value to the cherished long-standing years. Providing financing certainty for a longer period relationship with the ICRC. of time allows taking a strategic perspective, aiming for . Leveraging pioneering experience in innovative much higher expectations of efficiency. financing to support a highly innovative transaction . The three centres will be piloting the next generation of in the humanitarian space with a high social impact. physical rehabilitation service delivery. Providing an innovative, quality transaction to . Testing such contingent-return financing model for clients interested in impact investing. potential application to other programmes at ICRC Objectives • Channel additional resources – EUR 22m of five-year funding - to provide much needed humanitarian services to people in conflict affected countries construction and operation of three centres in Africa • Test and implement new efficiency initiatives - social impact,