BIO CEO 2012 Business Roundtable: Finance

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Healthy Alternatives: Financing Mechanisms that Sustain Companies

Monday, February 13th, 3pm-3:55pm

There has been a steady market for monetizing royalties and future revenues, and at-the-market offerings are being more popular; but will these trends continue to play out in 2012 and beyond? What has changed in this market and what other options are being explored by public companies today? Come hear the dealmakers behind the headlines of 2011 discuss their experience in novel, hybrid and alternative financing mechanisms.

Moderator:

  • Dean Colucci, President & General Counsel, MLV & Co

Panelists:

  • Luke M. Beshar, CPA, Sr. Vice President & Chief Financial Officer, NPS Pharmaceuticals Inc.
  • Steven W. King, President & CEO, Director, Peregrine Pharmaceuticals, Inc.
  • John R. Leone, Partner, Healthcare, Paul Capital
  • Ivana Magovčević-Liebisch, PhD, JD, Executive Vice President and Chief Business Officer, Dyax Corp


Who's Who


Luke M. Beshar, CPA
Sr. Vice President & Chief Financial Officer, NPS Pharmaceuticals Inc.
Luke Beshar has served as senior vice president and chief financial officer of NPS Pharmaceuticals since November 2007. At NPS, Mr. Beshar is responsible for all financial management, investor relations, information technology, technical operations, supply-chain management, facilities, and contracts and outsourcing. Since joining the company in 2007, Mr. Beshar has utilized his 25 years of experience to help transform NPS strategically and financially. During his tenure, NPS has secured over $250 million of new capital. Mr. Beshar has reorganized and built a high-caliber finance team and established a disciplined financial planning and analysis function.

Prior to joining NPS, from December 2002 to November 2007, Mr. Beshar served as executive vice president and chief financial officer of Cambrex Corporation, a global life sciences company. At Cambrex, Mr. Beshar’s accomplishments included raising approximately $600 million of new capital, building a high-performance global finance team and designing and implementing $8 million in cost reductions. From January 2002 to December 2002, he was senior vice president and chief financial officer at Dendrite International, a leading provider of services to the life sciences industry.

Mr. Beshar began his career with Arthur Andersen & Co. in 1980 and is a certified public accountant. Mr. Beshar obtained his BS degree in Accounting and Finance from Michigan State University and is a graduate of The Executive Program at the Darden Graduate School of Business at the University of Virginia.

Steven W. King
President & CEO, Director, Peregrine Pharmaceuticals, Inc.
Steve King was appointed President and CEO of Peregrine Pharmaceuticals in March 2003 and has led the company into three Phase II clinical programs. Mr. King joined the company in 1997 as Director of R&D. In 2000, Steve was responsible for bringing the company’s biomanufacturing facility into full cGMP compliance and then launching Peregrine’s subsidiary Avid Bioservices. Prior to joining Peregrine, Steve worked with a company that was developing Vascular Targeting Agents and with UT Southwestern Medical Center with the inventor of Peregrine’s technology. Steve holds BS and MS degrees in Biology from Texas Tech University.

Dean Colucci
President & General Counsel, MLV & Co
Mr. Colucci joined the firm from DLA Piper where he was a partner in the Corporate and Finance group for over 10 years. Prior to being a partner at DLA Piper, Mr. Colucci was at Cadwalader Wickersham & Taft. During his 17 year legal career, Mr. Colucci developed a broad based corporate and finance practice that extended across capital markets, cross-border M&A, global infrastructure development and finance, and asset-based finance. In the capital markets area, Mr. Colucci has been at the forefront of developing several “At-the-Market Offering” products. He has been lead underwriter’s counsel in over 50 ATM transactions acting on behalf of 11 different investment banks. These deals raised more than $6 billion in equity capital for companies in the technology, life sciences, real estate investment trust, energy, transportation, and oil and gas sectors. Additionally, Mr. Colucci was intimately involved in structuring ATM products for both common and preferred stock as well as for dual listed issuers in Canada and Israel. Mr. Colucci has an AB from Cornell University, an MA from Columbia University, and a JD from the George Mason University School of Law.

John R. Leone
Partner, Healthcare, Paul Capital
Mr. Leone joined Paul Capital in 2007 with over 30 years of pharmaceutical industry experience. Most recently, he was President and Chief Executive Officer of Cambrex Corporation, a leading life sciences company. Previously, Mr. Leone was at Aventis, where he served as Senior Vice President and Chief Operating Officer of US Commercial Operations. In this position he had responsibility for all commercial business units, including oncology, metabolism, cardiovascular, dermatology, respiratory and anti-infective. Among other initiatives, Mr. Leone helped spearhead the successful integration of its predecessor companies, Rhone-Poulenc Rorer and Hoechst Marion Roussel, to form Aventis. His industry experience also includes both domestic and international executive management roles with Wyeth, where he held the following positions during his tenure: General Manager Ayerst International, General Manager of commercial operations for Ayerst US, Group Vice President of Wyeth International Marketing and General Manager Vaccine and Pediatric Division. Mr. Leone started his healthcare career at Pfizer Laboratories, where he held various senior marketing positions in both the US and International groups and was responsible for the commercial launch of numerous pharmaceutical products. Mr. Leone received his BS degree in Engineering from the US Military Academy at West Point and his MBA from the University of Colorado.

Ivana Magovčević-Liebisch, PhD, JD
Executive Vice President and Chief Business Officer, Dyax Corp
Dr. Magovcevic-Liebisch is Dyax's Executive Vice President and Chief Business Officer and has served as an executive officer of the Company since December 2005. In addition to overseeing all aspects of Commercial Operations, she also manages Business Development, Alliance Management and Legal Affairs. She joined Dyax in April 2001 as Vice President of Intellectual Property and has held several different positions within the Company.

Dr. Magovcevic-Liebisch was Director of Intellectual Property and Patent Counsel for Transkaryotic Therapies, Inc. from 1998 to 2001. Dr. Magovcevic-Liebisch holds a doctorate in genetics from Harvard University and a law degree from Suffolk University.