f r o m o u r p i p e l i n e t o y o u r b o t t o m l i n e

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1 TTO Circle f r o m o u r p i p e l i n e t o y o u r b o t t o m l i n e Amir Naiberg, CEO

2 From Our Pipeline to Your Bottom Line The Weizmann Institute of Science Discovering Basic Science Yeda R&D Co. Ltd. Bridging Research & Development Past & Present Success Stories Anatomies of Success Lessons learned

3 First Biotech Invention

4 And the Reward

5 Imagine life without:

6 Healing, Fueling, Feeding Cherry Tomato Hybrids Sandisk Chip Polymerico Fiber Optics HelioFocus Mobileye Motorola Barcode Reader Wheat Variants NDS Smart Card

7 Weizmann Institute of Science Curiosity Driven Research

8 What will be the next scientific revolution? Who will make the next scientific revolution?

9 The next scientific revolution will be driven by scientists who have a multidisciplinary view of science the opportunity to take risks the infrastructure to work the freedom to think

10 The Weizmann Institute of Science Focused on Research 400 administrative staff 16% 10% 260 professors Heading research groups 34% 40% 850 scientists Ph.D. s, engineers & technicians 1,000 students M.Sc. and Ph.D. only

11 ERC Ranking The highest success rate in the EU - close to 60% compared with 9% EU average

12 The Israel National Center for Personalized Medicine BENCH TO BEDSIDE Enhancing medical treatment efficacy using the most advanced research tools

13 The Need to Re-think Innovation Company Total R&D Spending ($Mil) R&D Spending Per Drug ($Mil) Number of Drugs Approved AstraZeneca 58,955 11, GlaxoSmithKline 81,708 8, Sanofi 63,274 7, Roche Holding AG 85,841 7, Pfizer Inc. 108,178 7, Johnson & Johnson 88,285 5, Eli Lilly & Co. 50,347 4, Abbott Laboratories 35,970 4, Merck & Co Inc 67,360 4, Bristol-Myers Squibb Co. 45,675 4, Novartis AG 83,646 3, Amgen Inc. 33,229 3, Total 802,468 5, Sources: InnoThink Center For Research In Biomedical Innovation; Thomson Reuters Fundamentals via FactSet Research Systems The Truly Staggering Cost Of Inventing New Drugs, Matthew Herper (Forbes, )

14 BIOTECHNOLOGY Name of Drug/Company Indication 2012 ($ mil) Enbrel (Amgen) and Humira (AbbVie) Rheumatoid Arthritis 17,850 Rebif (Merck Serono) Multiple Sclerosis 2,400 Erbitux (Bristol Myers and Eli Lilly) Colon cancer 1,800 Avonex (Biogen) Multiple Sclerosis 1,570 Gonal f (Merck Serono) Induction of ovulation 1,000 Remicade (Janssen Biotech) Rheumatoid Arthritis 970 Sub-Total 25,590 ISRAELI SCIENTIST ABROAD Joseph Schlessinger - Sutent Kidney cancer 1,236 Aya Jakabovits - XGEVA/Prolia Osteoporosis in Postmenopausal Women 1,220 Aya Jakabovits - Vectibix Cancer of the Large Bowel 359 TOTAL 28, Total Global Biopharmaceuticals Market 120,000 ISRAEL INSIDE Contribution (%) 24%

15 Personalized Medicine What is it?

16 The Israel National Center for Personalized Medicine Infrastructure Sequencing Unit Building on the Weizmann Crown Human Genome Center, the unit will provide High Throughput DNA/RNA sequencing and affiliated bioinformatics to analyse genomic variations, transcriptomes, non-coding RNAs, and editomes. Proteomics Unit Arising from the Weizmann Advanced Mass Spectrometry Lab, the unit will provide quantitative proteomics analyses to study differential expression and post-translational modifications of proteins. Bioinformatics Unit Build on the Bioinformatics and Biological Computing Group at Weizmann, the unit will use advanced tools to identify promising gene targets, key proteins and critical pathways. Small Molecules Screening Unit Incorporating the Weizmann Structural Proteomics Unit for protein production and structure determination capacities, the unit will screen small molecule and sirna libraries for desired biological effects.

17 Joint Development Process (e.g. Pharmaceutical) Yeda s Contribution Marketing of a New Drug FDA Approvals Clinical Studies Pre Clinical Research Basic Research Innovation Building a Novel Eco System for collaborations

18 Bridging Research & Development Technology Transfer from the Weizmann Institute of of Science

19 Combining Benevolence & Business Allow society to benefit from discoveries made at the Weizmann Institute of Science. Effectively commercialize technologies developed at Weizmann to create additional income for the Institute. 66% 58% % 25% Global Market Share (%) 52% 44% 36% 28% 20% Sales ($M) 12% 400 4% Source: Annual Companies reports for- Copaxone, Rebif & Avonex

20 Licensing Income Licensing Income Survey 2010 top 10 Universities * Institution Licensing Income ($M) 1 City of Hope National Medical Center. & Beckman Research Northwestern Univ NYU Columbia Univ Sloan Kettering Inst. For Cancer Res Univ. California System Wake Forest Univ Univ. of Minnesota 83 9 The General Hospital dba Massachusetts General Hos. 10 Univ. of Washington * Source: AUTM Licensing Survey 2010

21 Israeli Patents in the USA (Accumulated for the Years ) Source: BDI

22 Technologies Portfolio Agriculture, 5% Bioinformatics, 1% Chemistry, 11% Environmental, 5% Mathematics, 7% Medical devices, 7% Physics, 7% Biotehnology, 57%

23 Favorable Environmental Conditions Legal structure similar to Bayh-Dole act IP owned by the Institution Sharing royalty with the inventors Government support programs Incubators Direct tech transfer support programs Developed investors community, Entrepreneurs However, a funding gap for series A round

24 Favorable Internal Conditions Scientists focus on excellence in Basic Science. A pro-active tech transfer operation: Looking inward for technologies, outward for licensees. Tech Transfer officers with combined background in both Science & Business. Resources & willingness to further assess and develop technologies prior to licensing.

25 A World Leader in Technology Transfer Dozens of Weizmann-Inside products on the market. Total annual royalty-generating sales in 2012: Over $17 Billion. Over 70 new companies were established around Yeda s technologies. Yeda owns the largest portfolio of patents in Israel: 550 live patent families, with more than 1,700 patent families filed since 1971.

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27 Yeda / Weizmann Success Stories Anatomies of Success

28 Yeda / Weizmann Success Stories Selected Success Stories Copaxone Teva Rebif Merck Serono Encryption Algorithm NDS GeneCards TM XenneX NanoLub TM Nanomaterials Dunaliella Nikken Sohonsha QX Capsule QuantomiX TM Erbitux TM ImClone

29 Personalized Technology Transfer! The Right Agreement for each Technology Think and Act Globally

30 Some Issues Invention disclosures are made locally but will be examined on a country by country basis. How do we deal with the reporting requirements under the Bayah Dole Act? What are the requirements of the local R&D encouragement laws? Patent Law USA finally moving to first to file Where to enforce? Joint owners

31 Cont d. Laws relating to import and export: Limitation on export and import Antitrust law (grant back, royalty term) EU Technology Transfer Block Exemption Antitrust Guidelines for the Licensing of Intellectual Property Laws relating to Pre-Clinical, Clinical trails and other regulatory agencies. Tax issues such as withholding tax.

32 It gets really complicated with non-exclusive deals Non-exclusive license is suitable in cases where the technology is relatively matured and could be used as a research tool or becomes an industry standard. Points to consider: Choice of law and forum Improvements Most Favored Nation Clause

33 Israeli Model Sublicensing Assignment M&A

34 Murphy s law: (Bismark) Yeda R&D Co. Ltd, Nanjing IP Seminar Adv. Galit Yosha March 22-23,

35 www. YedaRnD. c o m T h a n k y o u