Partnering: try before you buy
Wednesday, 24 April, 2002
Australian biotechnology companies need to think very carefully about who they partner with, according to Garry Redlich, managing director of Peplin Biotech.
Redlich spoke about licensing and partnering with US companies at a Phillips Fox biotech forum held in Melbourne on April 23.
"Probably the thing most overlooked, where it is easiest for an Australian company to make wrong assumptions, is understanding the partner company's pipeline," said Redlich afterwards.
He explained that it was crucial to know exactly how the other company's business plan was working out, and at what stage they want to in-license products.
Redlich suggested that companies contemplating the pursuit of partnering and licensing opportunities should think about who would make a perfect partner and then identify possibilities.
Redlich also advised biotech companies who were looking for partners overseas to try to put themselves on the other side of the table.
He said that it was vital to consider who at the company was making the decision, and what was in it for them.
"Having some clinical data, even if not with the final compound, is tremendously valuable," said Redlich, explaining that it is important to have proof-of-concept for the product before approaching potential partners.
He said Peplin, a Brisbane-based company, was actively looking for partnering opportunities for its topical non-melanoma skin cancer agent, and had been working with Burrill & Co, a merchant bank in San Francisco to achieve this aim.
"From our point of view, it's a tactical choice," Redlich said - Peplin has completed a successful Phase II pilot study with its topical agent on non-melanoma skin cancers.
He said that Peplin was interested in opportunities with dermo-pharmaceutical companies, as they would provide the best support for the product.
Redlich said marketing issues were important for dermatological products. "You don't have to think too carefully about positioning a drug for breast cancer, but skin cancer is different."
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