Biotech in Japan: leveraging unexploited opportunities. Seiji Hirasaki, AnGes MG 14 March 2008 JETRO Japan Seminar at BioSquare

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1 Biotech in Japan: leveraging unexploited opportunities Seiji Hirasaki, AnGes MG 14 March 2008 JETRO Japan Seminar at BioSquare 1

2 Contents 1. Japan s biotech market 2. Players: emerging biotech start-ups 3. World-class science and technology 4. Conclusion 2

3 1. Japan s Biotech Market 3

4 Steady growth of Japanese biotech market (\Billion) 2,500 2,075 2,299 2,000 1,660 1,747 1,759 US$ 21mil EUR 15mil 1,500 1,333 1,433 1, , Source: Nikkei Biotechnology & Business 4

5 Breakdown by sector: Agri and Medical dominate Agro Products 471 (27%) 887 (39%) Medical and Healthcare Chemicals 416 (18%) 389 (22%) 730 (32%) 640 (36%) 2007 Total: 2,299 billion (US$21million/EUR15million) 2005 Total: 1,759 billion (US$16million/EUR11million) Research-related Support & Services 166 (7%) 159 (9%) Others 100 (4%) 100 (6%) ,000 Source: Nikkei Biotechnology & Business 5

6 Medical and healthcare market by product sector (2007) Diagnostics (DNA probe recombinant antigen) 17(2%) G-CSF 40(5%) others 94(13%) Erythropoietin 130(18%) Molecular target drug 50(7%) Human growth hormone 58(8%) Total: 730 billion US$6.8million EUR4.6million Human insulin 80(11%) Antibody for treatment 85(12%) Monochlonal antibody external diagnostics 90(12%) Interferon 86(12%) Source: Nikkei Biotechnology & Business 6

7 Topics in 2007 Therapeutic antibody: \85b (30%) Avastin and Zevalin approved Indication extension of Remicade \100b+ in 2008 Increased import of GMOs for biofuels Corn (38%) and soy beans (26%) 7

8 2. Players 8

9 Brief history of biotech in Japan Conventional fermentation technology traditional foods such as soy sauce and miso 1st biotech boom: 1980s advent of DNA recombinant technology large companies entered biotech such as Kirin and Takara very few start-ups 2nd biotech boom: end of 1990s ~ Many start-ups founded Large pharma Medical field 9

10 Number of companies active in biotech (2003) 3,500 3,000 3,154 2,500 2,000 2,196 1,500 1, EU US Japan France Korea (2004) Germany (2004) Canada Australia Spain (2004) Denmark Sweden Source: OECD STI Scoreboard

11 Growing number of biotech companies New markets: Mothers Tech transfer law National university reform Biotechnology Strategy Guidelines Note: The number of biotech companies of category A (less than 20 years since the establishment, employees not more than 300 and others) defined by Japan Bioindustry Association Source: Japan Bioindustry Association 11

12 Biotech companies by sector (2006): Healthcare related accounts for 60% Agriculture, Forestry and Fishing 9% Environment 10% Production 8% Medical Treatment and Health 32% Services 12% Researchrelated Support 29% Note: Multiple answers from 783 companies Source: Japan Bioindustry Association 12

13 Increasing number of IPO companies Year Total 5 0 <

14 Japanese Pharma is also moving to biotech Takeda agreed to take over Amgen s Japanese subsidiary and acquire some rights (Feb 2008, ~$1b) Eisai acquired MGI Pharma (2008, $3.9b) and Morphotek (2007, $325m) Astellas took over Agensys (2007, $387m) The merger of Kirin Pharma and Kyowa Hakko centers on antibody technologies 14

15 3. World-class Science and Technology 15

16 Input: High R&D Expenditure R&D expenditure as a percent of GDP Japan US Germany UK EU25 China Source: NISTEP Japan Science and Technology Indicators

17 Output: science Citation share ranked No. 4 in biological sciences (2005) after US, UK and Germany (Source: UK Office of Science and Innovation, PSA target metrics 2006) Prof. Shizuo Akira of Osaka University (Immunology) selected as Hottest (most cited) researcher in all scientific disciplines in 2005 and 2006 (Thomson Scientific) Prof. Shinya Yamanaka of Kyoto University succeeded to produce human ips cells (2007) 17

18 Patents: 2 nd largest number of application in biotech Korea 2% Canada 3% France 4% Share of countries in biotechnology patents filed under PCT, 2004 Denmark Australia 2% 2% Others Netherlands 15% 2% United States 38% United Kingdom 4% Germany 10% Japan 18% Source: OECD STI Scoreboard 18

19 Patents: Increasing share of Japan Global share of the patent applications by t he appl i cant s nat i onal i t y: Post - Genome Technol ogi es 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% % 20% 43% 15% Year s % 20% 49% 13% Year s % 22% 60% 7% Japan Eur ope US ot her s Source: Japan Patent Office Report (2007 May) 19

20 Patents: Main applicants Top 10 Patent Applicants in Post-genome technologies Applicant (Years ) Number Country 1 Bayer AG 604 Germany 2 Japan Science and Technology Agency (JST) 285 Japan 3 Univ. California 171 US 4 CNRS 142 France 5 National Institute of Advanced Industrial Science and Technology (AIST) 141 Japan 6 Novartis 117 Switzerland 7 RIKEN 111 Japan 8 GE Healthcare 95 US 9 Applera Thcare 94 US 10 US Dept. Health & Human Services 92 US Source: Japan Patent Office Report (2007 May) 20

21 But, assets are not fully exploited Biotech is still a young (but growing) industry in Japan. Most Japanese biotech companies are not visible from overseas due to lack of information. Limited business deals with overseas companies Not enough pool of money and people with business expertise 21

22 The circumstances are changing rapidly More and more visible biotech companies More information available (in English) Changing business attitude of biotech executives; open to overseas companies Improving process of regulation Which means More open opportunities to access unused excellent technologies and the large market there 22

23 Issues for the continued growth More mature biotech companies, consolidation inevitable? More spin-offs from existing large pharma; M&A and streamlining of Big Pharma is a following wind More international deals in BD and fund raising Achieve a critical mass 23

24 4. Conclusion The market is large. More and more biotech companies established. The industry is shaping up rapidly. Many excellent technologies remain unused. Please come to the treasure island. 24

25 Thank you 25

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