EarlyStage Valuation In TheBiotechnology IndustryVinay RanadeFebruary

Powerful Essays
Early-Stage Valuation in the
Biotechnology Industry
Vinay Ranade

February 2008



THE WALTER H. SHORENSTEIN ASIA-PACIFIC RESEARCH
CENTER (Shorenstein APARC) is a unique Stanford University institution focused on the interdisciplinary study of contemporary Asia.
Shorenstein APARC’s mission is to produce and publish outstanding interdisciplinary, Asia-Pacific–focused research; educate students, scholars, and corporate and governmental affiliates; promote constructive interaction to influence U.S. policy toward the Asia-Pacific; and guide
Asian nations on key issues of societal transition, development, U.S.Asia relations, and regional cooperation.
The Walter H. Shorenstein
Asia-Pacific Research Center
Freeman Spogli Institute for International Studies
Stanford University
Encina Hall
Stanford, CA 94306-6055 http://shorenstein.stanford.edu 

About the Author
Vinay Ranade is chief executive officer of GeneMedix plc, an Alternative Investment
Market (AIM) company listed on the London Stock Exchange. GeneMedix is engaged in the business of research, development, manufacturing, and marketing of biosimilars
(biopharmaceutical products) in Europe. GeneMedix is a subsidiary of Reliance Life
Sciences, a research-led, biotechnology initiative of the Reliance Group of Companies,
India. Ranade is a chartered accountant (CPA), qualified in India, and a management graduate of the Asian Institute of Management, Manila, Philippines. Ranade has worked in investment banking in India, both in capital market and project finance groups. He has also worked with Faber-Castell India and was part of the core team that set up Faber-Castell’s Indian business and operations, with specific responsibility for finance and procurement functions. He joined Reliance Life Sciences in 2001 and handled corporate development, finance, procurement, and materials management functions. 



Abstract
Biotechnology (or biotech) has impacted almost every aspect of human life. It has reorganized

You May Also Find These Documents Helpful

  • Good Essays

    Valuation

    • 11224 Words
    • 45 Pages

    VALUATION TECHNIQUES Vault Guide to Finance Interviews Valuation Techniques How Much is it Worth? Imagine yourself as the CEO of a publicly traded company that makes widgets. You’ve had a highly successful business so far and want to sell the company to anyone interested in buying it. How do you know how much to sell it for? Likewise, consider the Bank of America acquisition of Fleet. How did B of A decide how much it should pay to buy Fleet? For starters, you should understand that the value…

    • 11224 Words
    • 45 Pages
    Good Essays
  • Powerful Essays

    Valuation

    • 1028 Words
    • 5 Pages

    Equity Valuation: Discounted Cash Flow and Residual Income Models Introduction Valuation plays a very important role when companies are trying to increase their value, raise money, acquire another firm or sell a subsidiary, also when a company decides to go public. Managers, investors and shareholders need to have the most accurate and reliable information in order to make decisions, that is why valuation is a fundamental exercise in corporate finance. It is pretty evident that whatever…

    • 1028 Words
    • 5 Pages
    Powerful Essays
  • Satisfactory Essays

    Valuation

    • 265 Words
    • 2 Pages

    Valuation : * Price earnings ratio : DESCRIPTION | Mar-12 | Mar-11 | Mar-10 | Mar-09 | Mar-08 | Price-earnings ratio | 23.04 | 24.23 | 12.71 | 7.25 | 12.17 | This ratio reflects the following factors : growth prospects, risk characteristics ,shareholder orientation ,corporate image and the degree of liquidity.It indicates company performance and forecast future performance.Ratio is decreasing and it is good sign because investors will get high earnings.But risk will…

    • 265 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    valuation

    • 604 Words
    • 3 Pages

    1. Name five job roles that can be categorized as a PC technician? Answer: PC support technician PC service technician Bench service technician help-desk technician pc laptop repair technician 2. Of the four jobs in Question 1 which one might never include interacting with the PCs primary user? Answer Bench service technician The Bench Service Technician performs service work as needed on desktops, laptops and home computers that have been brought into the location by the customer. Responsibilities…

    • 604 Words
    • 3 Pages
    Satisfactory Essays
  • Good Essays

    Valuation

    • 5582 Words
    • 28 Pages

    Gmail's inbox puts you in control Inbox video Meet the inbox Gmail's inbox sorts your email into categories so you can see what's new at a glance, decide which emails you want to read when and view similar types of emails together. Watch the video Social tab Choose your categories The Social and Promotions categories are on by default. Add categories like Updates and Forums or remove categories to have those emails show up in your Primary inbox. Learn how to choose categories Customize…

    • 5582 Words
    • 28 Pages
    Good Essays
  • Powerful Essays

    Valuation

    • 3546 Words
    • 15 Pages

    Appendix to Chapter 7 Evidence on the Efficient Market Hypothesis Early evidence on the efficient market hypothesis was quite favorable to it. In recent years, however, deeper analysis of the evidence suggests that the hypothesis may not always be entirely correct. Let’s first look at the earlier evidence in favor of the hypothesis and then examine some of the more recent evidence that casts some doubt on it. EVIDENCE IN FAVOR OF MARKET EFFICIENCY Evidence in favor of market efficiency has examined…

    • 3546 Words
    • 15 Pages
    Powerful Essays
  • Powerful Essays

    Relative Valuation

    • 11151 Words
    • 45 Pages

    13. Relative Valuation - Using Market Comparables Zenu Sharma zenu.sharma@edhec.edu Course Road Map 1. Financial Markets and Management 2. Present Value 3. Introduction to Risk and Return 4. Portfolio Selection 5. The Capital Asset Pricing Model 6. Financing and Capital Structure 7. Interest Rates and the Valuation of Bonds 8. Project Appraisal 9. Capital Budgeting 10. Capital Budgeting with Financial Leverage 11. The Valuation of Companies and Stocks 12. Relative Valuation 13. Options and…

    • 11151 Words
    • 45 Pages
    Powerful Essays
  • Powerful Essays

    Stock Valuation

    • 1495 Words
    • 6 Pages

    How To Choose The Best Stock Valuation Method When trying to figure out which valuation method to use to value a stock for the first time, most investors will quickly discover the overwhelming number of valuation techniques available to them today. There are the simple to use ones, such as the comparable method, and there are the more involved methods, such as the discounted cash flow model. Which one should you use? Unfortunately, there is no one method that is best suited for every situation.…

    • 1495 Words
    • 6 Pages
    Powerful Essays
  • Good Essays

    Equity Valuation

    • 1175 Words
    • 5 Pages

    Valuation models Discounted cash flow models: Dividend discount Free cash flow to the firm Residual income Multiples-based valuation: Price-earnings Value-EBITDA Value-EBIT Value-Sales Price-Book value Equity valuation In conjunction with the valuation of Coles Group, contained in “Excel03 Equity valuation” Real options valuation Equity markets price shares above the present value of expected future cash flows, due to the presence of embedded options not captured by DCF analysis Real…

    • 1175 Words
    • 5 Pages
    Good Essays
  • Powerful Essays

    Equity Valuation

    • 14431 Words
    • 58 Pages

    A Project Report On “TO STUDY OF EQUITY VALUATION ON INDIAN CEMENT INDUSTRY” Submitted To: Bhulabhai Vanmalibhai Patel Institute of Business Management, Computer & Information Technology, Gopal Vidyanagar. Submitted By: BHAVINI SHAH T.Y BBA- I 09 BBA 11 Acknowledgement I wish to express my sincere thanks to Dr. Poonam Mittal, Director of Bhulabhai Vanmalibhai Patel Institute of Business Management, Computer & Information Technology, Gopal Vidyanagar, Tarsadi, who gave me the chance…

    • 14431 Words
    • 58 Pages
    Powerful Essays