Getting from Lab to Market: Financing Strategies for Biofuel Companies
9:45am – 11:00am

How does one get from development to the marketplace with a biofuel product? This panel will explore different strategies for financing development and implementation of biofuel technologies at each stage of a company’s life, starting from the technology development phase in academic labs. Differences between relationships with financial investors and strategic partners will be discussed, as well as how a company’s strategy might change as it matures. By hearing the experiences of entrepreneurs, company executives and financiers in the sector, technologists new to the field can have a broader sense of the financial options available to them and what strengths and weaknesses each presents. Investors can learn more about the needs of biofuel companies and how to avoid pitfalls typical of those unfamiliar with its unique characteristics.

Panel Moderator:

Andrea Cohen
Attorney, Nixon Peabody LLP

Panel Speakers:

Neal Gutterson
President and CEO, Mendel Biotechnology

Jeffrey Martin
President and CEO, Yulex Corporation

Patrick McCroskey, PhD
Principal, TPG Growth, LLC

Gregory Pal
Senior Director, Corporate Development, LS9, Inc.

Extending the Cash Runway with Venture and Other Forms of Debt
11:30am – 12:45pm

As the stock market continues its volatile trend and media highlight stories of institutional investors and banks taking heavy losses from subprime fallout, the venture debt market has, thus far, weathered the storm with a few modifications. Liquidity issues stemming from auction rate failures have affected credit evaluations and valuation depression is expected amongst many companies. Given these liquidity issues, it behooves companies to look into layering debt into their capital structures to strengthen their cash position and extend their runways. Young companies often find that they are able to grow their business more cost effectively by utilizing debt than by using the more expensive alternative: additional equity. Supplementing an equity round with venture debt can help to preserve ownership, as the equity kickers used in debt financing are far less dilutive than in equity raises. Current market conditions will not halt the venture lending industry, as debt deals will continue to be utilized by companies to leverage their equity position; however, it is important to realize what lenders are looking for and what types of financing terms they can expect.

Panel Moderator:

Richard Bowman
President and Founder, Debt Advisors Group

Panel Speakers:

Jeff Griffor
Principal, Lighthouse Capital Partners

Scott Chamberlin
Senior Vice President, Bridge Bank N.A. - Technology Banking Division

Thomas M. Cleary
Partner, Sonnenschein Nath & Rosenthal LLP

Christopher Morell
Senior Vice President & Director, CIT Healthcare- Life Sciences

Andrew Thompson
Co-Founder and Chief Executive Officer, Proteus Biomedical
Founding Partner, Spring Ridge Ventures

Creative Finance Vehicles to Fund Growth
2:15pm – 3:30pm

Every year Biotechnology companies fail to claim billions of dollars in government incentives, abatements and grants that can substantially increase their equity position, fund expansion and growth, and offset operational costs such as energy, training, and facilities. Location Management Services, as part of Bay Bio’s Members Business solutions will walk you through the maze of local, state, and federal programs and compliance to show you how to maximize collection of these incentives program dollars. The purpose of this session will be to provide the attendees with knowledge on how to develop a “roadmap” for securing maximum incentives to offset capital requirements for new facilities, expansion, and operating costs.

Panel Moderator:

Jim Renzas
President and CEO, Location Management Services

Panel Speakers:

Mike Ammann
President, Solano Economic Development Corporation

Robert Carter
Site Head Vacaville Operations, Novartis Vaccines and Diagnostics, Inc.

Robert Meyer
Economic Development Analyst, Application Review and Economic Development Unit,
State of California Employment Training Panel

Matt Szuhaj
Director, Strategy & Operations, Deloitte Consulting LLP

Equity Compensation Strategy Development: Roadmap from pre-IPO to Publicly-Traded
3:45pm – 5:00pm

This session will discuss recent trends in company-wide equity strategy design for life sciences companies. Topics will include compensation philosophies, program design and technical issues surrounding program implementation and maintenance, looking at both pre-IPO and publicly traded companies. In support of the discussion, we will provide market data and current legal and design trends. In addition, employers will provide “real world” advice on how to best manage this scarce compensation resource. With the heavy reliance on equity compensation within the life sciences industry, this session will be invaluable for company leaders and those responsible for managing the company’s equity strategy. Attendees will leave this session with an understanding of why employers have been using the equity programs that are currently in place, and what is changing in the marketplace. The session is supported by market-driven information on current practices in equity compensation and a methodology for evaluating the effectiveness of their current programs.

Panel Moderator:

Jeremy Anderson
Principal, Remedy Compensation Consulting

Panel Speakers:

Heather Connors
Director, Human Resources, Illumina

Michelle Evans
Principal Compensation Manager, Genentech, Inc.

Irv Kirschbaum
Director, Compensation, Benefits/Wellness & HRIS, Codexis Inc.

Thomas Welk
Partner, Cooley Godward Kronish LLP