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Tuesday, February 12th, 12:00pm-12:55pm

Many recent biopharma acquisitions have started as drug development collaborations including GlaxoSmithKline's takeover of Human Genome Sciences and Amgen's purchase of Micromet.  How do traditional drug development relationships grow into all-out acquisitions?  What business or clinical considerations can prompt the larger company to "take the plunge" and acquire their smaller partner?  What deal-breakers should both parties watch for?  The panel will feature seasoned business development executives discussing the do's and don't's of taking biopharma collaborations to the next level.


  • Jeff Stewart, Senior Engagement Manager, Campbell Alliance


  • Michael Gilman, PhD, Senior Vice President, Early Stage Programs, Biogen Idec
  • Demetrios Kydonieus, Vice President, Strategy Alliances and Transactions, Bristol-Myers Squibb
  • Michael Margolis, R.Ph., Managing Director, ROTH Capital Partners
  • Effie Toshav, Partner, Corporate, Fenwick & West LLP
  • H. Thomas Watkins, Former President & CEO, Human Genome Sciences Inc.


Michael Gilman, PhD
Senior Vice President, Early Stage Programs, Biogen Idec

Michael Gilman is Senior Vice President, Early-Stage Programs, at Biogen Idec, with responsibility for project teams managing the company’s development programs through clinical proof-of-concept. He joined Biogen Idec in March 2012 following its acquisition of Stromedix, a venture-backed company focused on fibrosis and organ failure, where Dr. Gilman was Founder and Chief Executive Officer. Prior to founding Stromedix in 2006, Dr. Gilman served as Executive Vice President, Research at Biogen Idec, with responsibility for the company’s discovery research activities in Cambridge and San Diego. From 1994 to 1999, Dr. Gilman was at ARIAD Pharmaceuticals, where he was Executive Vice President and Chief Scientific Officer. From 1986 to 1994, Dr. Gilman was on the scientific staff of Cold Spring Harbor Laboratory in New York, where his research focused on mechanisms of signal transduction and gene regulation. Dr. Gilman was a postdoctoral fellow at the Whitehead Institute. He holds a Ph.D. in Biochemistry from University of California, Berkeley, and a S.B. in Life Sciences from Massachusetts Institute of Technology.

Dr. Gilman currently serves on the on the Board of Directors of Via Science and the Scientific Advisory Board of Sangamo BioSciences.

Demetrios Kydonieus
Vice President, Strategy Alliances and Transactions, Bristol-Myers Squibb

Demetrios Kydonieus, Esq. is Vice President, Strategy, Alliances and Transactions (SAT) managing the Strategic Transaction Program Management Office (PMO), overseeing operations of SAT and responsibility for driving all global M&A activities and mature brand divestitures.

Demetrios began working at BMS in 1998 as Director, Worldwide Regulatory Affairs in the Health Care Group.  After leaving the Health Care Group, Demetrios joined the Corporate Strategy and Issues Management Group as Director, Business Risk Management, where he identified and helped manage the largest risks to the BMS strategy.  Demetrios moved with his family to Boston as Division Counsel for the Medical Imaging division, where he was a member of the business unit's Executive Team and helped lead the divestiture of the business.  Returning from Medical Imaging, Demetrios leveraged his M&A experience and joined the Corporate Development Legal Group where he was instrumental in divesting six billion in mature brands and other businesses.

Demetrios earned his Juris Doctor degree from Quinnipiac University School of Law and his Masters of Business Administration from Duke University, Fuqua School of Business.

Demetrios lives outside of Princeton, New Jersey with his wife Angela and their three children.

Michael Margolis, R.Ph.
Managing Director, ROTH Capital Partners

Michael Margolis is a Managing Director in ROTH Capital Partners’ Healthcare Investment Banking group and joined the firm in December 2009. Margolis was most recently a Managing Director of Healthcare Investment Banking at Merriman Curhan Ford. Previously Margolis was a senior vice president at Rodman & Renshaw. He had extensive financial and pharmaceutical industry experience before joining Rodman. Margolis worked at Novartis Pharmaceuticals Corporation in several roles, including as a director in the global business development and licensing group. He was an equity research analyst at Ursus Capital, and he began his career as at Eli Lilly & Company as a senior pharmaceutical representative.

Margolis is a registered pharmacist with an MBA from New York University’s Stern School of Business and a pharmacy degree from Rutgers University, College of Pharmacy.

Effie Toshav
Partner, Corporate, Fenwick & West LLP

Ms. Toshav’s national practice focuses on providing counsel to life sciences clients where she serves as a strategic advisor on a wide range of business and legal issues. Her experience covers the full spectrum of issues and transactions facing such companies, including the negotiation and structuring of complex technology transactions, complex strategic partnering transactions, intellectual property counseling, and R&D commercialization collaborations. She also represents both companies and investors on corporate matters, including formation issues, public offerings, spin outs, corporate financings and mergers and acquisitions transactions.

Ms. Toshav is known for partnering with her clients as an integral member of the management team to collaborate on setting strategic direction as well as structuring and negotiating complex legal and corporate transactions. Her extensive operational in-house experience and deep understanding of the issues facing emerging and public life science companies allows her to provide clients with highly practical and relevant advice.

Prior to joining Fenwick & West, Ms. Toshav served as Senior Vice President and General Counsel with AVI BioPharma, Inc. (NASDAQ: AVII), a developer of RNA-based therapeutics, and prior to that, a partner in the life sciences practice at Wilson Sonsini Goodrich & Rosati. From June 2004 to June 2006, she was general counsel of GlycoFi, a venture-backed, private biotechnology company, and played a significant role in the sale of the company to Merck for $400 Million. Prior to GlycoFi, Ms. Toshav was senior corporate counsel at Protein Design Labs, predecessor of Facet Biotech.