Biographies of the Biotechnologists

Peter Bassett, Heidrick & Struggles (consultants in executive search). Born in Coventry, England, gained a BSc and PhD in chemistry at the University of Birrningham, and became Fellow in the Physics Depart• ment of the University of York. Then worked as a consultant in engineering physics for PA Management Consultants, before moving to Brussels as Business Manager, applied sciences, of the Patscentre and then working as an independent consultant. Principal with Heidrick and Struggles since 1988, and head of the firm's /healthcare pradice in the UK/Europe.

Jarnes C. Blair, Domain Associates (advisers to Biotechnology Investments Limited). BSE from Princeton University and MSE and PhD from the University of Pennsylvania. Now General Partner, Domain Associates, with over 20 years' experience in venture capital. Has been adively involved in the early development of some 45 biotech companies.

Joseph Bouckaert, Advanced Genetic Sciences/Plant Genetic Sys• tems/DNA Plant Technology. Born in Belgiurn, gained degrees in law at the University of Louvain and business administration at the University of Ghent. Went to USA and did internship at the University of Kentucky, Office of the Executive Vice-President. Returned to Belgium to the University of Louvain, then spent three years in the cabinet of the Minister of Scientific Policy in Belgium, carrying out financing mechanisms for high-quality research centres at Belgian universities (197-3). Then sent back to USA to report on technological developments and their potential for industrial spin-offs. Went to Menlo Park, Stanford, MIT, looking at their activities, analysing academic work wh ich could lead to industrial and hi-tech applications (1973-4). Set up Leuven Research & Development as a commercial technological brokerage company at the University of Louvain. Later, set up Innovi for the same type of adivity for all

237 238 Biographies o[ the Biotechnologists

Belgian universities. Licensed tP A development at the University of Louvain with Genentech. Established Plant Genetic Systems in Belgium (1983) in co-operation with Advanced Genetic Sciences in Oakland, California. Became CEO of PGS (1983) and AGS (1985). Became Vice• Chairman of DNA Plant Technology Corporation after its merger with AGS in 1988. Remains a Director of PGS in Belgium.

Robert Carpenter, Integrated Genetics/. Army training at West Point before attending Stanford for a masters in computer science. Served in Vietnam for a year and spent three more years in the army. In 1973, went to . In 1975, joined Baxter Travenol Laboratories. Despite computer background, wanted to use marketing and finance skills; feit that, in a computer company, would be restricted to programming. Worked with Baxter for six years. In 1981, recruited to help set up Integrated Genetics. Became a Vice• President of Genzyme after the merger between the two companies in August 1989. Left Genzyme in 1991.

Jeremy Curnock Cook, Rothschild Asset Management Limited (advisers to Biotechnology Investments Limited). Degree in micro• biology from Trinity College Dublin. Now Director of Rothschild Asset Management Limited and heads the London advisory team. In 1976, founded the International Biochemieals Group which was subsequently sold to Royal Dutch/Shell in 1985. Remained with the Group as Managing Director unti11987, when joined Rothschild Asset Management.

Walter De Logi, Plant Genetic Systems. PhD from CalTech and MBA from Harvard. Formerly CEO of RADAR N.Y., a leading Belgian feed additive company. Became Chief Executive of PGS in 1986 after being a member of the management committee since the company was founded in 1983. Now responsible for the overall strategie direction of PGS, including financial management, resource allocation, and the organisational structure of the company.

Gerard Fairtlough, Celltech. Founder of Britain's first biotech enter• prise in 1980. Formerly with Royal Dutch/Shell. Built up Shell Chemieals in the UK. Left Shell to join a working party to recommend biotech ventures to the National Enterprise Board, in conjunction with the National Research and Development Council and the Medical Research Council. Biographies 01 the Biotechnologists 239

Roger Gilmour, Agricultural Genetics Company. Recruited to help in the setting up of AGC as scientific/business manager. Formerly president of a US family-owned food business, Griffith Laboratories. Spent fifteen years with Griffith in Canada, Europe and the USA.

David Heath, Delta Biotechnology. A pharmacist by training, set up twelve retail pharmacies. Became a laboratory entrepreneur, setting up Trentham and, in 1973, Speywood Laboratories. Recruited by the research director of Bass pIe - a major UK brewery - to set up their in• house biotech enterprise, and appointed Vice-Chairman of Delta in 1984. Now setting up another biotech initiative.

Alan Jeffers, N. M. Rothschild Asset Management Limited (advisers to Biotechnology Investments Limited). Consultant to Rothschild Asset Management. Trained as achartered accountant. From 1968 to 1973, was with the Jefferson Smurfitt Group, actively involved in building the Group by acquisition and internal growth. Has been involved in the venture fjeld since 1973.

Richard Laster, DNA Plant Technology. Gained degree in chemical engineering from Polytechnic of New York, and joined the engineering research department of General Foods Corporation in 1944. After numerous positions of increasing responsibility, became President of Maxwell House Coffee Division and Vice-President of General Foods in 1971. Became a director of General Foods in 1974. Was unique in rising to the top management having started in research. After 38 years with General Foods, retired and joined DNA Plant Technology in 1982 as Chairman, President and CEO. Was elected Chairman of the Board in November 1988. Awarded the American Institute of Chemical Engineers' Foods and Bioengineering Division Award in 1972, and was a finalist in the Entrepreneur of the Year competition, 1990.

David Leathers, Abingworth pIe (advisers to Biotechnology Venture Fund S.A.). An executive director of Abingworth pIe. Previously Executive Director of Rothschild Asset Management Limited, where he spent six years with responsibility for providing investment advice to Biotechnology Investments Limited, a listed company specialising in biotechnology and healthcare. Now is a director of British Bio• technology Group pie, Gensia Europe Ud and Twyford International Inc. 240 Biographies o[ the Biotechnologists

Jean-Pierre Le Cocq, Transgene. Was working in Brussels for SmithKline and was approached by the scientific founders of Trans• gene. Now Scientific Diredor and Senior Vice-President.

Keith McCullagh, British Bio-technology. Trained as a vet, then worked as a postgraduate teaching fellow at the University of Bristol, followed by aperiod as consultant in pharmaceuticals to ICI. Joined G. D. Searle and worked with Brian Richards, now chairman of British Bio-technology, in their UK facility at High Wycombe. Set up British Bio-technology on the closure of Searle's European operations.

George Rathmann, Amgen. Spent 21 years with 3M in science and management. Became President of a subsidiary of Litton, an aerospace company, in charge of X-ray produds, including radiological equip• ment and films. Five years with Abbott Laboratories, finally as Vice• President of R&D of the Diagnostic Division. Joined Amgen as CEO shortly after the founding of the company in 1980. Became Chairman of Amgen in 1985, and remains on the Board of Diredors today. Was a co-founder of ICOS in 1990.

Gabriel Schmergel, Genetics Institute. Born in Hungary, educated at Renesselaer Polytechnic Institute in New York, gained an MBA from Harvard Business School in 1967. Spent fourteen years with Baxter Travenol Laboratories, becoming President of the International Divi• sion, overseeing $500m in sales, seventeen manufaduring plants and 9,000 employees. Appointed President and Chief Executive of Genetics Institute in April 1981, four months after the company's inception. Serves as a Diredor of WelGen Manufaduring Partnership, a joint• venture of Genetics Institute and Burroughs Wellcome Co. President of the Industrial Biotechnology Association, 1985-6. Trustee of the Biotechnolugy Research Institute.

Hubert Schoemaker, Centocor. Born in the , went to the USA in 1969, studied chemistry and economics at the University of Notre Dame of Indiana, graduating in 1972. Received a PhD from MIT in 1975, studying biochemistry and business at the Sloan School of Management. Joined Corning Medical, a division of Corning Glass, in 1976, responsible for the technical and business aspects of the company' s medical diagnostics business. Left Corning in 1980 to become a co-founder of Centocor, and is now Chairman of the company. Is also on the Board of Repligen, ISIS and Membrex. Biographies o[ the Biotechnologists 241

Charles Sherwood, Schroder Ventures. Born in the UK, gained a degree in history and MBA from Harvard. Worked as a Consultant in London for the Boston Consulting Group, specialising in the manufac• turing, marketing and retailing sectors. A partner of Schroder Ventures, works in the biotechnology/healthcare field with Or Henry Simon.

Sandford Smith, Repligen. After college, entered finance and banking, joining manufadurers Hanover Trust in New York, where became responsible for lending to the multinational pharmaceutical sedor. Moved to work in the healthcare industry, joining Bristol Myers. At Bristol, spent three years in finance and then moved into operations, assisting the President of the international division. Was then trans• ferred to Japan to manage a joint-venture. Then ran the pharmaceutieal and nutritional business es in Indonesia for three years, and was transferred back to New York as Vice-President for Corporate Oevelopment and Strategie Planning, based in Bristol Myers' pharma• ceutieal division. From Bristol Myers joined the Repligen Corporation as President and CEO in early 1987.

Erik Tambuyzer, Innogenetics. Holds a degree and PhO from Leuven University as a chemieal engineer in agro-food industries. Worked with Baxter Traveno11977-83 in marketing positions in the instrumentation and diagnostic divisions, becoming European produd and marketing manager in 1983, before helping to set up a biotechnology pradice at Innovi, a Belgian Government-led venture capital business. At Innovi was responsible for consulting on hi-tech projeds as a consultant to the Flanders government. Then joined start-up Innogenetics as Chief Operating Officer and Oiredor of Business Oevelopment.

Henri Termeer, Genzyme. Grew up in Holland, studied economics at the University of Rotterdam, went to England when 22 for three years. In the late 1960s, set up computer systems for large British firms, developing a computer bureau around a retailing company. The services of this computer capability were sold within this company, servicing many divisions in the company, and to other companies. This led to contad with the Uni ted States, so went to the USA for an MBA at the , then joined Baxter Travenol, in the international division, in 1973. Three years later became - at age 29 - Managing Oirector of Baxter's German subsidiary, with $45m sales. Baxter's healthcare business grew from $200m in the early 1970s to $2bn 10 years later, mostly through internal growth. Left Germany in 1979 to take charge of the Hyland division of Baxter in California. Left Baxter to join start-up Genzyme as Chief Executive in 1983. 242 Biographies o[ the Biotechnologists

James L. Vincent, Biogen. Holds a BS in mechanical engineering from Duke University and an MBA from Wharton Graduate Business School of the University of Pennsylvania. Spent five years in Germany setting up Texas Instruments, then ran their Far East divisions building companies in Japan, Taiwan, Singapore, Malaysia, in the late 1960s and early 1970s. Left TI in 1972, when President of TI Asia, and helped found Abbou Laboratories. Spent almost ten years with Abbott, building their diagnostics division, now the largest in the world. Left Abbou as the President of the Abbou Laboratories Corporation in Chicago, Chief Operating Officer and Board me mb er in 1981, and joined Allied Health and Scientific Produds Co., a subsidiary of Allied Signal Inc. Ed Hennesey, who was then the Chairman of Allied, wanted to build a major multibillion dollar healthcare company to diversify Allied, which historically had been a chemical company. Spent three years there, building a $600m diagnostic business. Allied made the Bendix acquisition, and then could not afford to develop both an aerospace business and a healthcare business, so the company exited from healthcare. Became CEO of Biogen Inc. in 1985, taking over from founder Professor Walter Gilbert, who set up the company in 1978. Glossary

AIDS - Acquired Immune Deficiency Syndrome, a viral disease which destroys the body' s natural defences against disease. Antibody - a protein produced in the body, as part of the immune system, which recognises and attaches itself to a foreign chemical or organism. Antibodies are highly specific. Beta-Blocker - a variety of blocker wh ich inhibits site-specific chemical reactions. Bio-control agents - microbes or biological products used to combat pests which cause plant disease or destruction. Biotechnology - the application of biological organisms, systems or processes to manufacturing or service industries. Catalyst - a substance which speeds up a chemical reaction without being used up in the process. Enzymes are biological catalysts. CeII - the fundamental unit of life. Although each cell contains a complete set of an organism's genetic material, an organism is made up of many specialised cells of diverse functions. Clone - a group of genes, cells or organisms produced from a common ancestor and all genetically identical. Diagnostic kit - a set of reagents used to detect the presence of or measure the quantity of certain biological markers associated with a disease or some other disorder of the body. Kits are normally used to test blood, urine, or tissue sampies outside the body. DNA - deoxyribonucleic acid is the chemical material in a cell which contains the coded genetic information specifying all life processes. DTI - the Department of Trade and Industry in the UK. Endotoxic shock - a shock state caused by a poisonous substance present in the cell walls of Gram-negative bacteria (e.g. salmo• nella). This condition occurs primarily in patients who have undergone surgery or who have other diseases that render them susceptible to systemic infection. Enzymes - proteins having a catalytic function which bring about the chemical processes needed for growth and maintenance of a biological organism.

243 244 Glossary

Factor VIII - the coagulating factor in blood that is lacked by haemophiliacs. FDA - the Food and Drugs Administration in the USA. Fermentation - a process by which living cells in culture manufadure by-products (e.g. the use of yeast to produce alcohol from sugar). Gene - the basic unit of heredity. A DNA sequence which usually codes for a pro tein. A 'chromosome' is made up of many genes. Genetic Engineering - the manipulation and/or transfer of genes to modify functions or introduce new processes into aceI!. Growth Factor - a pro tein molecule that stimulates cells to multiply. Immunoassay - a highly sensitive technique used in diagnostic kits that depends on the specificity of antibodies. The antibodies may be labelIed with radio-isotopes, enzymes, or fluorescent tags for the purposes of detedion. Inhibitor - a compound or drug preventing a biochemical transforma• tion from occurring. Interferons - substances made in the body which stimulate the immune system. Interferons inhibit viral infedions and may have anti-cancer properties. Microbe - microscopic organisms which are usually single-ce lied (e.g. bacteria, viruses, some fungi, and some algae). Monoclonal antibody - a specific antibody which recognises a single antigen (e.g. a chemicaL organism, or part of an organism). NIH - the National Institute of Health in the USA. Peptide - a short chain of amino-acids. Phase One clinical studies - initial human trials of a new drug, usually conduded on healthy volunteers to assess its bioavail• ability, pharmokinetics, pharmocology and tolerance. Protein engineering - an alteration of a protein by changing the nucleotide sequence of the gene that specifies it. Random screening - the assaying of sampIes from a variety of sources in biological test systems in order to make an opportunistic discovery of an adive compound. Recombinant DNA - hybrid DNA, produced in a test-tube by joining segments of DNA from natural or synthetic sources. It can be inserted into the genetic material of an organism to introduce a novel fundi on. Thrombolytics - enzymes whose fundion is to break down blood clots. Tissue plasminogen activator (tPA) - an enzyme that converts a blood protein, plasminogen, into plasmin, another enzyme which is capable of dissolving blood clots. tP A may be useful for the prevention and treatment of he art attacks. Glossary 245

Transgenesis - the modification of reproductive cells by genetic engineering. A transgenic animal is one arising from a reproductive cell to which 'foreign' DNA has been added, producing a hereditable change such that the benefits of the new genes can be passed on to the animal's offspring. Virus - a very small non-cellular infectious particle which requires a host cell for its reproduction. A virus usually consists of DNA or RNA in a protein coat. Index

Note: Most references are to biotechnology unless otherwise indicated.

Abbott Laboratories 103, 105, 142, Bassett, Peter 76-85, 237 195 Baxter Travenol 78, 110-11, Abingworth Management Ud see 112-13 Leathers, David Biogen 227-9 academe: links with commerce 5-6, see also Vincent, James L. 8-11, 15-16 BioSurface T echnology 39 Advanced Genetic Sciences biotechnologists 1-3, 53-4, 232 (AGS) see Bouckaert, Joseph business plans xvi, 119-30 Advisory Board for the Research capital xvii-xix, 141-8, 149-56, Council (ABRC) 9, 14 157-64 Advisory Co~ncil for Applied corporate partnerships xix-xx, Research and Development 195-206 (ACARD) 8, 9, 14 major companies xx-xxi, Agricultural Genetics Company 207-15, 217-29 (AGC) 69, 163, 192, 213-14 motivation xv-xvi, 11, 103-17 see also Gilmour, Roger start-up team xvi-xvii, 131-40 Agriculture and Food Research biotechnology 1-30, 231-5 Council (AFRC) 10, 15, 190, achievements 27-30 213 govemment support 12-13, 14, agriculture 121-2, 126, 127-8, 15-16, 22 161, 174-7, 191 potential of 20-1, 25-6 AIDS 29, 87, 109, 169, 178, 199 see also biotechnologists; Algene 187 companies Alkermes 38 Biotechnology Investments Ud Amgen 64 (BIL) 16, .47, 129, 155, 192-3 see also Rathmann, George development of 49-58 Anderson, French 39 portfolio 51-2, 58-60 Applied Biosystems 63, 64 see also Cook, Jeremy Cumock Armstrong, Lord 192 Biotechnology Ventures S. A. 116, Avenue Investments Ud. 42 164 portfolio 39-41 banks: biotech investment 21-2 see also Leathers, David Bass 225-7 Blair, Henry 135

246 Index 247

Blair, lames 61-8, 237 Celltech 21, 81, 94, 120, 155, 192 Blake, Paul 99-100 see also Fairtlough, Gerard Blech, David and Isaac 132-3 Centocor 182-3, 199 creation of Genetic Systems 72-6 see also Schoemaker, Hubert Bloom, Floyd 38 Centre for Applied Microbiology Bloomfield, Christopher 21. 22 and Research (CAMR) 145-6, Bouckaert, loseph 121, 132, 137, 154, 162, 204-5, 213 237-8 Cetus 7, 12-13, 120 capital 142, 150, 158 see also Cape, Robert going public 173-4 Chambon, Pierre 113, 136 major companies 219 Chilver, Lord 190 motivation 107 C10natech 18 partnerships 197-8 Cocensys 39 selling out 208 Coleman, Ronald 8 Boyer, Herbert 86, 92 Collinson, leff 68, 72 Bristol Myers 109-10 Common AgricuItural Policy British Bio-technology 27-8, 39, (CAP) 17 93-101. 192 companies 3-4, 7-11 see also McCullagh, Keith large xx-xxi, 7-8, 22-3, 57-8, British Petroleum 7 78-9, 217-29 British T echnology Group links with research institutes 5-6, (BTG) 15-16 8-11, 15-16 Buchan, lames 87-8 partnerships xix-xx, 47-9, 108, Burke, lohn 163, 189, 225 195-206 business plans xvi-xvii, 43-9, stages of growth xv-xx, 41-9 119-30 takeovers xx, 47-9, 173-5, see also companies 207-15, 227-9 valuing 55-6 Cambridge Life Sciences (CLS) 15 see also ca pi tal; management; Cape, Ronald 7-8, 12-13, 24 venture capital; under capital individual company names going public 165-93 Cook, leremy Curnock 116, 139, methods of raising 21-5, 42-3 238 phase I xvii, 141-8 capital 146-7, 164 phase Ir xvii-xviii, 149-56 creation of International phase III xviii-xix, 157-64 Biochemicals 41-9 see also venture capital going public 192 Carpenter, Robert 184, 185-6, major companies 225 232-3, 238 selling out 214-15 business plan 123-4 venture capitalism 49-58 capital 143, 151-2, J59-60 Cookson, C1ive 29 going public 180-3 Co wen & Co. 201 major companies 222-3 Co x, Geoff 182 motivation 111-12 Cygnus Ventures 164, 193 partnerships 200 Cytogen 73 selling out 210-11 start-up team 134-5 Davis, I. Morton 75 248 Index

De Logi, Walter 132, 150, 238 going public 186-7 business plan 126 major companies 224 capital 144-5, 153, 161 motivation 113 going public 187-8 partnerships 202 motivation 114 selling out 212 partnerships 203 start-up team 136 selling out 212 FDA 222-3 start-up team 136-7 Fellner, Peter 81 Delta 225-7 finance see capital; venture capital Dervan, Peter 39-40 Fishlock. David 25, 91-3 distributors 44-5 France 18 DNA 2-3, 13-14, 105 DNA Plant Technology 76, 173-4, G3 18 197-8 Gee, Kelvin 39 products 175-7 Gene Track Systems 200 see also Laster, Richard Genentech 39, 86-93 Domain Associates 61 goes public 25, 86-7, 94, 142 see also Blair, James taken over by Hoffman La Drews, Jurgen 92 Roche 89-91, 209-11 drugs 65, 86-91. 121. 123. 124, General Foods 107 167 genes 2-3, 4-5 biotech achievements 27-9 Genetic Systems 72-6 Duncan, Bill 140 Genetica 18 Du Pont 198 Genetics Institute see Schmergel. Gabriel Edwards, Michael 8 GenPharm 39 Embrex 39 Gensia Pharmaceuticals 39 entrepreneurs see biotechnologists Genzyme 63, 181-2 enzymes 124-5 see also Termeer, Henri EPO (erythropoietin) 121, 172, Gerber, Fritz 89, 90, 92 197, 222 Germany 18-19 Europe, biotechnology in 17-19, Gilbert, Robin 26 27-8, 113-16, 223-5, 226-9, Gilead Sciences 39-40 234-5 Gilmour, Roger 115, 239 finance 66-7, 144-6, 152-5, business plan 12 7-8 160-3, 186-91,212-14 capital 146, 154 management 113-16, 125-8, going public 190-1 136-8, 202-6, major companies 225 research institutes 6 partnerships 205 see also UK start-up team 138 European Community (EC) 17-18 see also Agricultural Genetics executives see management Company exit strategy 47-9, 56 Glavin, James 74 Glaxo 227-9 Fairtlough, Gerard 4-5, 81. 238 Glaxo Institute of Molecular business plan 125-6 Biology 228-9 capital 144, 152, 160 Glycomed 40 Index 249

Gover, Anthony 138 Interventional Technologies 40 government support 12-13, 14, investment see capital; venture 15-16, 22 capital Gration, David 152 Itoh, Toshio 19 see also Celltech Green, Howard 38 Japan 19-20, 159, 169, 221-2, Greene, Ted 232 234 Gronow, MichaelIS investment in 35-6, 67 Jeffers, Alan 139, 147, 164, 225, Hardy, Kimber 229 239 Haydon-Baillie, Wensley 138, business plans 129 189-90 capital 116, 155-6 business plan 12 7 Johnston, Robert 9, 73 capital 145-6 joint ventures xix-xx, 47-9, 108, motivation 114-15 195-206 see also Porton healthcare 104, 119-20, 123-5, Kessler, Armin 92, 93 126-7 Kirin 197 biotech achievements 27-9 Knowles, Jonathan 227-8 Heath, David 182, 226-7, 239 Koprowski, Hilary 131 Hoffman La Roche 89-91, 210 Korda & Co. 117, 129, 147 Housman, David 134 Kourilsky, Philippe 113, 126, 136 human growth hormone (HGH) 10-11 Laster, Richard 239 Hutton, E. F. 25 business plan 121-2 Hybridolab 18 capital 143, 151, 158 going public 174-7 ICI 224, 225 major companies 219-20 ICOS Corporation 106 motivation 107-9 IDEC Pharmaceuticals 40 partnerships 198-9 IG Laboratories 181-2, 184-5 selling out 209 Immunetech Pharmaceuticals 18, start-up team 132-3 40 Leathers, David 116, 147, 164, Immunology Ud 36, 40, 116, 225, 239 140 role of venture capital 31-8 Industry, Department of 14 Le Cocq, Jean-Pierre Innogenetics 107, 201, 224 business plan 126 see also Tambuyzer, Erik capital 144, 152, 160-1 Innovi 107, 114, 126 going public 187 institutes, research 5-6, 8-11. motivation 113 15-16 partnerships 202-3 instrumentation 65 selling out 212 Integrated Genetics 184-6 start-up team 136 see also Carpenter, Robert licensing partners 67, 195-206 International Biochemicals 41-9, life sciences 68 147 International Business Week 28-9 McCrae, William 15 250 Index

McCullagh, Keith 53, 81, 240 Parks, Stephen 40-1 business plan 127 partnerships xix-xx, 47-9, 108, capital 93-4, 97, 145, 153, 162, 195-206 164 Pharmaceutical Pro teins 187 future plans 98-100 Pharmaceuticals Manufacturers going public 188-9 Association (USA) 27 major companies 224--5 Plant Genetic Systems 107, 132, motivation 95, 114 142, 150, 224 partnerships 204 see also De Logi, Walter selling out 213 plants see agriculture start-up team 97-8, 137 Portno, A D_ 226-7 McQuitty, Jonathan 39 Port on International 94, 129, Magainin Sciences 40 204-5,213 management xvi-xvii, 52-4, 81-3 capital 154, 162-3 chief executives 71, 77-9, 81, going public 189-90 131-40 see also Haydon-Baillie, Wensley chief financial officer ,,0-1 products 20-1, 45-6 head of R&D 79--80 Ptashne, Mark 133, 134 recruitment 76-85 public ownership xix, 165-93 start-up teams 131-40 public relations 56-7 Maniatis, Tom 133, 134 Marien, Rudi 137, 145, 224 Raab, Kirk 90, 132 marketing 43-6, 50-1, 54-5 Rathmann, George 62, 222, 234-5, Marsh, Peter 87-8 240 Matsuki, Nobuo 70 business plan 120-1 Medgenix 140, 192-3 capital 142, 150, 158 Medical Innovations 40--1 going public 171-3 Medical Research Council 15, 33 major companies 218-19 Melton, Doug 40 motivation 105-6 Merck 199, 218 partnerships 196-7 Ministry of International Trade and selling out 208 Industry (MITI) 19--20 start-up team 132 Molecular Dynamics 41 recombinant human serum albumin monoclonal antibodies 72, 119-20, (rHSA) 227 126 Repligen see Smith, Stanford Munro, Alan 40, 116-17 research and development 57 head of 79-80 National Enterprise Board 14, 15 partnerships 195-206 Neurogen 41, 69 Rich, Alexander 38, 133 Noble, James 99 Richards, Brian 95, 98, 114, 137 Nowinski, Bob 73, 74 Roberts, Kelvin 117, 129, 139, 226 Rothschild Asset Management Oncogene 109 Ud see Cook, Jeremy Curnock Orrix 187 Rothschild, Victor 16, 49-50, 61

Paine-Webber Development Sandoz 199 Corporation 201 Sargeant, Ken 17 Index 251

Schering-Plough 195-6 Swanson, Robert 86, 88, 90, 91 Schimmel, Paul 38, 133 Sykes, Richard 228 Schlater, Jim 41 syndicates 67-8 Schloen, L10yd Henry 72 Schmergel, Gabriel 232, 240 takeovers xx, 47-9, 173-5, business plan 123 207-15, 227-9 capital 143, 151, 159 Tambuyzer, Erik 107, 241 going public 179-80 business plan 126-7 major companies 221-2 capital 145, 153, 161 motivation 110-11 going public 188 partnerships 200 motivation 114 selling out 209-10 partnerships 203-4 start-up team 133-4 selling out 212-13 Schoemaker, Hubert 199 start-up team 137 business plan 119-20 T anaka, Masami 19 capital 141-2, 149-50, 157-8 technology 4-5, 54 going public 168-70 transwitch 220 major companies 218 Teitelman, Robert: Gene Dreams xii, motivation 104-5 72-6, 86-7, 231 partnerships 196 Terlouw, J. C. 18-19 selling out 208 Termeer, Henri 181,241-2 start-up team 131-2 business plan 124-5 Schroder Ventures 70, 147, 156, capital 144, 152, 160 206, going public 183-6 investments 68-72 motivation 112-13 Science and Engineering Research partnerships 200-2 Council (SERC) 14 selling out 211 Scrip 88 start-up team 135-6 Searle, G. D. 224 Third World 20 semicondudor industry 61 Timms, Alan 40 Shell 7, 48 Transgene 224 Sherwood, CharIes 68-71, 215, see also Le Cocq, Jean-Pierre 225, 241 Simon, Henry 70 UK, biotechnology in 13-17, single cell protein (SCP) 7, 26 27-8, 93-101 Smith, SandEord 231. 241 influence oE USA 94-5 business plan 122-3 investment in 23, 34-5, 68-71. capital 143, 151. 158-9 76-7 going public 177-9 management 83 major companies 221 universities: links with motivation 109-10 commerce 5-6, 8-11, 15-16 partnerships 199 USA, biotechnology in 3-4, selling out 209 12-13, 103-13, 233-4, 235 start-up team 133 companies 86-93, 217-23 Spinks, AlEred 14 drug approvals 27 start-ups, biotech see companies finance 141-4, 149-52, 157-60, Stebbing, Nowell 224 165-86, 207-11 252 Index

USA, biotechnology in (canf.) major companies 214-15, 225-6 influence on UK 94-5 start-up teams 139-40 investment in 23, 33-4, 61-8 venture capitalists 36-8, 49-58, management 83, 119-25, 131-6, 232 195-202 Vincent, James L. 132, 233-4, 242 research institutes 6 business plan I 19 capital 141, 149, 157 Van Heuverswijn, Hugo 114, 126, going public 165-8 137 major companies 217-18 Van Montagu, Marc 114, 136-7, motivation 103-4 144 partnerships 195-6 venture capital, role of 23, 31-8, selling out 207 49-58, 62-76 start-up team 13 I biatechnalagists' motivation 116-17 Wall, Michael 38, 131 business plans 129-30 Wavle, Jim 110, 132, 170 corporate partnerships 206 Weintraub, Hai 40 capital 146-8, 155-6, 164 Whitcome, Phi! 4 I going public 192-3 Williams, J. P. G. 6, l2, 24