Session 8: Marketing and Strategy (Practitioner) Athena Prib, RTTP Commercial Director, gemaker Chair of Marketing Committee, ATTP

Transcription

1 Session 8: Marketing and Strategy (Practitioner) Athena Prib, RTTP Commercial Director, gemaker Chair of Marketing Committee, ATTP

2 Session 8: Marketing and Strategy (Practitioner) Marketing versus selling Creating an opportunity pipeline Creating strategic themes in marketing to attract licensees Estimating customer value for your technology

3 What s involved? NEW PRODUCT, SERVICE, BUSINESS & MARKETS Scope requirements of the project to grow business ASSESS & PIVOT Customer feedback interviews Competitor monitoring IP landscape monitoring SALES/START-UP Secure funding Business development Business set-up Recruitment MARKETING Prepare and implement marketing strategy and plan Prepare promotional material (web, print, video, social media) Prepare award applications MARKET RESEARCH Desktop searches Customer Interviews Competitor analysis Identify funding opportunities Identify partnering opportunities Markets and market sizes Due diligence Pricing and placement IP landscape COMMERCIAL CASE Financial modelling Commercial strategy & plan Intellectual property strategy Resource planning Funding strategy PROOF OF CONCEPT (POC) Find partners for development Prepare and negotiate terms of agreements for partners Apply for grant funding for POC Project manage POC

4 What we are focusing on today MARKET RESEARCH Desktop searches Customer Interviews Competitor analysis Identify funding opportunities Identify partnering opportunities Markets and market sizes COMMERCIAL CASE Financial modelling Commercial strategy & plan Intellectual property strategy Resource planning Funding strategy SALES Secure funding or sales Business development MARKETING Prepare and implement marketing strategy and plan Prepare promotional material (web, print, video, social media) Prepare award applications

5 Marketing versus selling Marketing always changes but selling stays the same. Marketing Selling

6 Marketing versus selling Same aim: increase revenue Marketing Broader than sales Customer focussed How to reach? 1 way conversation now a 2 way (thanks to social media) Whole process of satisfying a customer Strategy to engage customers build relationships Promote price & product Fulfill customer needs 당겨 푸시 Selling Match customer to product Product focused Product is ready to sell Approach is to satisfy the customers end needs 2 way conversation Customers does the talking Meet target revenue A result of marketing

7 Marketing Functionalit y Brand Packaging Services Product Promotion Pricing Placement

8 Marketing Functionalit y Brand Packaging Services Product Promotion Advertising Website Social Media Brochures Events What s the value? Cost Terms Discount Pricing Placement Distribution Logistics How to get it out

9 What do you do in sales? Customers Contracts Find new customers Customer relationship management Solution based selling? Attend events, meeting, functions Set terms Negotiate contracts Manage the relationship

10 Typical Investors Cash Flow or Revenue Generally operating in this area Technology Creation & Development Market Introduction - Business & Product Development Growth The Chasm Valley of Death Research Inventors Angels VCs Stock Owners Public Sector Private Sector

11 Cost of developing prescription drug 10 year + Study $1.4 billion average out-of-pocket cost $312 million is spent on post approval development test new indications, formulations, and dosage strengths $1.2 billion in returns that investors forgoes $2.9 billion for a life-cycle cost SOURCE: Tufts Center for the Study of Drug Development Pricing should be based not on R&D costs but on the value a drug delivers to patient

12 Customer hurdles How will it help me? How will it help my business? Can I trust you? Are you the best in the world? Does it work? What does it cost? Is my space protected?

13 High priority Proven Phase 2 Aligning the stars A new drug takes investment of time & $$ ~15 years ~ US$1.4 Billion Resources team Commitment Financial Viability Patent Position

14 Gardasil Cervical cancer (HPV) vaccine the second biggest killer of women worldwide. Used 121 countries world wide Saves 250,000 lives every year Discovered at UQ 1991 Prov filed by Uniquest 1994 Patent granted Patent dispute started CSL partnered and licensed 1996 CSL sub-licensed to Merk & Co Federal Drug Administration (FDA) in the US approved 2007 Patent dispute settled Phase 3 clinical trial involved over 12,000 women aged from thirteen countries, with half receiving Gardasil and the other half receiving a placebo.

15 The killer experiment The evidence that will make or break your case. Leave no doubt that it works Convincing data Animals, samples or people Tight controls It is not fishing, ie it is not seeing to see if works it proving it

16 Positioned in Category Interest Established Sales cycle Gap Acknowledged Need Agreed Offer Understood Depending on the technology might take years or months Preference Formed Decision Made Revenue

17 Australian challenges No middle tier companies (ie no phase 1 or 2) Location Go to the US Success in Australia is not measured by seeing a product on the market Licensing the tech If they do the deal is irrelevant

18 Overview Headquartered in Sydney, Australia in-house research labs, Bay Area of San Francisco, CA, USA Work collaboratively with a number of laboratories in Australia, the USA & China. Collaborations with NewSouth Innovations / UNSW since 2007 invested in a number of CRAs Patent protection is focused on value add: Research programs technology improvements and Composition of matter patents for products in development for a variety of therapeutic indications Commercialisation opportunities In-house programs target chronic and lifethreatening conditions which are geneassociated, and for which there is no effective treatment or cure UNSW Developing a treatment for nonsmall cell lung cancer (NSCLC) which is resistant to chemotherapy - Tribetarna Lung cancer is the highest-ranked cancer in terms of incidence and mortality NSCLC accounts for more than 80% Children's' Cancer Institute of Australia at UNSW produced in vitro data showing safety and efficacy. Proof of principle established Getting ready for clinical trials A Phase I/IIa clinical trial

19 Estimating customer value for your technology What is the cost to the customer if they don t buy? X Not how much it cost you to create and prove the technology. Money? $ Time? What does cost to do now? How much will you save your customer? Cost of transferring technology What does it replace? What will cost to replace? More efficient? More product in shorter time? Development time shorter? Resources? Waste? Equipment? Space? People? Patents?

20 Many ways to slice the pie What will work for your prospective customer?

21 Regions Where are they? What have you got? What does it solve? Competitors / Partners What are their priorities? What are the patterns? What is high value? - Brand? - Social good? - Dollars? What is easiest to access? - Sector? - Region? - People? Sectors Who does it solve it for?

22 People World Class Researchers and research teams, publishing in top journals Infrastructure World class facilities, laboratories Broad Areas E.g.: Therapy, Diagnostic, Devices Indications E.g.: Cardiovascular, CNS Disease E.g.: Cancer

23 Relationship selling you want to work with us because we are easy to work with Easy Access IP Categories simple: Software, Photovoltaic, Easy Access IP

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26 Sell the relationship first Then group to themes

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30 Making an opportunity pipeline New customers? Who you know. Not what you know. Start looking easy steps Networks Researchers Business / Industry groups Alumni Web Social Media: Linkedin, facebook, twitter Get them to find you harder steps Form network groups An offer they can t refuse Stand out from the crowd : What s your point of difference? Client HOT WARM COOL Prospects

31 @ATTPmedia LinkedIn group Facebook news Engage in the community Share your knowledge

32 Athena Prib, RTTP Commercial Director P:

33 Extra slides for consideration

34 Tool to help focus your sales Product What are you selling Target Market What types of companies? What are they interested in? What is their size What are their characteristics? Strategy How are you going to get there? Buying Where are you generating an income? Working Have terms, in negotiations, have quotes Marketing Sending information, in dialogue Reference What have you sold in the past?

35 Marketing Example: Alkane

36 Marketing Example: CRC for Low Carbon Living

37 Modified shark antibodies Funded by URE (mining company) First of its kind, investment from miner Funded around ~ 2 million a year Barriers with board, move to quickly not so patient 7 years operating spinout from Latrobe University through Cooperative Research Centre for Diagnostics Established 2007 January 2012 signed an agreement with international pharmaceutical company, Roche, to evaluate and identify shark antibody binders Working on animal models 1 BD = CEO Staff mainly research to validate the technology Outsource testing / cheaper o/s