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What are term sheets and how do I manage a financial transaction? What is the difference between a balance sheet and a profit and loss account? How do I forecast the cash flow of my start-up company for the next five years? Which financing is most appropriate for the development my novel biomedical intervention? Where do I find the right investors for my start-up company?

These are some of the questions that are addressed in the Finance course at Paul Janssen Futurelab Leiden. Our “learning-by-doing” training programs for ambitious biomedical scientists who have an entrepreneurial spirit and wish to further their career. After completing the Finance course, you will understand the principles of Venture Capital transactions and term sheets, financial accounting, and funding requirements in the various stages of your start-up company.

Learning outcomes

  • understanding financial transactions. What are term sheets? Which immediate and future (non) dilutive funding requirements can be identified? How and when do I contact financial stakeholders such as angel investors, seed- and venture capitalists?
  • setting up your financial accounting. How do I organize my accounting as a start-up company and what are the building blocks of the annual financial report?
  • legal aspects. Which legal documents are of importance in the finance transactions during the various stages of financing and what are the consequences for my start-up?

You will learn that a financial plan identifies critical milestones of the research- and product development stages, along which funding may occur. To deepen your acquired skills, realistic case studies based on various biotech start-ups are included in exercises to illustrate the complexity and dynamics involved in financial transactions.
For your assistance, a Futurelab financial tool will be available to estimate your cash flow development and to predict the funding requirements for the development of your medical intervention.

A multifaceted online course
In this 5-week online course, a variety of exercises will help you master financial transactions and funding requirements and understand the role of various investor groups. In addition, the online course uses a wide variety of teaching methods including animations, tutorials, articles, interviews with industry, financial experts, and authorities, Futurelab Talks, self-assessments, tools, quizzes, assignments, online discussions with fellow course participants, and feedback from Futurelab experts.

Online exam
Your understanding of the course material will be assessed by an online exam. You will need access to a laptop with webcam, a stable internet connection, a clean desk, and a private room. Participants will be monitored by a professional invigilator via webcam during the exam. To take part in the exam, you will need to use the invigilator’s exam program and clear your schedule for 1 hour to take the exam. Detailed instructions about the exam will be sent at the end of the course.

After passing the exam, you will obtain a Paul Janssen Futurelab certificate and will be eligible for the on-campus Finance course in which we will dive deeper into the financial aspects of (start-up) biomedical companies.

Study time
The study load of this course is approximately 5 hours per week.

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Your teacher

Kees Recourt

Investment Manager

Requirements

  • A master’s degree in any subject related to biomedical science;
  • Several years of relevant working experience;
  • No prior knowledge or experience with finance is required for this course.

contributors

Finance for Biomedical Professionals

Bruno Vandermeulen

IP Lawyer - Member of the Brussels Bar


Independent IP practitioner

On-campus

Finance for Biomedical Professionals

Nacer Lounis

Senior Principal Scientist


Janssen Pharmaceutica

On-campus

Finance for Biomedical Professionals

Tine de Marez

Senior Director, Compound Development Team Leader TB


Johnson & Johnson

Finance for Biomedical Professionals

Bert Leufkens

Professor of Pharmaceutical Policy and Regulatory Science and Former Chair of Medicines Evaluation Board


Utrecht Institute for Pharmaceutical Sciences (UIPS)

Finance for Biomedical Professionals

Henk Schuring

VP-Head Rare Nephrology


Sanofi Genzyme

Finance for Biomedical Professionals

Sjaak Bot

VP, Head of EMEA Regulatory Affairs


Janssen

Finance for Biomedical Professionals

Bernd van der Meulen

Professor of Comparative Food Law


European Institute for Food Law / Renmin University of China Law School

Finance for Biomedical Professionals

Frank Landolt

V.P. intellectual property and legal


Ablynx N.V.

On-campus

Finance for Biomedical Professionals

Erik Niks

Neurologist - Pediatric neurologist


Leiden University Medical Center

On-campus

Finance for Biomedical Professionals

Piet Hinoul

Global Head, Pre-Clinical, Clinical and Medical Affairs


J&J Ethicon

On-campus

Finance for Biomedical Professionals

Ad Sitsen

Owner


ClinPharMed Consultancy for Drug Development

Finance for Biomedical Professionals

Eline Bunnik

Assistant professor Medical Ethics and Philosophy of Medicine


Erasmus MC

Finance for Biomedical Professionals

Maurits Westerik

Senior Counsel


Bird & Bird

Finance for Biomedical Professionals

Andrea Kamage

Patent Group Leader


Johnson & Johnson

Finance for Biomedical Professionals

Bart Swinkels

Partner


NLO

Finance for Biomedical Professionals

Karin Verzijden

Food and Pharma Lawyer


Axon Lawyers

On-campus

Finance for Biomedical Professionals

Ineke Jonker-Hoogerkamp

Consultant Regulatory Affairs and Drug Development


Paul Janssen Futurelab & Eagle Pharma Consult

Finance for Biomedical Professionals

Kees Recourt

Investment Manager


Mibiton Foundation

Finance for Biomedical Professionals

Paul Stoffels

Chief scientific officer


Johnson & Johnson

Finance for Biomedical Professionals

Tom Huizinga

Head of the Department of Rheumatology


Leiden University Medical Centre

On-campus

Finance for Biomedical Professionals

Marcel Kenter

Director


Paul Janssen Futurelab Leiden

On-campus

Finance for Biomedical Professionals

Koen Andries

VP Scientific Fellow Infectious Diseases Discovery


Janssen Pharmaceutica NV

On-campus

Finance for Biomedical Professionals

Andreas Wallnöfer

General Partner


BioMed Partners Venture Capital (former Head of Clinical Research & Exploratory Development at F. Hoffmann-La Roche Ltd.)

On-campus

Finance for Biomedical Professionals

Justin Hay

Pharmacokinetics Assessor


Medicines and Healthcare products Regulatory Agency

On-campus

Finance for Biomedical Professionals

André Elferink

Clinical epidemiologist


Dutch Medicines Evaluation Board

On-campus

Finance for Biomedical Professionals

Rob Zuiker

Senior Clinical Scientist


CHDR

On-campus

Finance for Biomedical Professionals

Barbara J. van Zwieten-Boot

Vice Chair


Medicines Evaluation Board, The Netherlands

Finance for Biomedical Professionals

Hans-Georg Eichler

Senior Medical Officer


European Medicines Agency

On-campus

Finance for Biomedical Professionals

Robert Klautz

Thoracic Surgeon


Leiden University Medical Centre

On-campus

Finance for Biomedical Professionals

Matthijs Moerland

Research Director Translational Biomarkers


CHDR

Finance for Biomedical Professionals

Joris Rotmans, MD, PhD

internist-nephrologist


LUMC

On-campus

Finance for Biomedical Professionals

Janneke Meulenberg

CEO


Arthrogen

Finance for Biomedical Professionals

Inge de Lepeleire

Director Translational Pharmacology


MSD Europe

On-campus

Finance for Biomedical Professionals

Koos Burggraaf

Research Director CVS & Metabolism


CHDR

Finance for Biomedical Professionals

Johan Garssen

Director Immunology Platform


Danone/Nutricia Research

On-campus

Finance for Biomedical Professionals

Ingrid de Visser

Senior Clinical Scientist


CHDR

Finance for Biomedical Professionals

Rick Kuntz

Senior Vice President and Chief Scientific, Clinical and Regulatory Officer


Medtronic

On-campus

Finance for Biomedical Professionals

Geert Jan Groeneveld

Research Director CNS


CHDR

Finance for Biomedical Professionals

Oliver Bisazza

Director Regulatory Policy


Medtronic

Finance for Biomedical Professionals

Saco de Visser

Teacher and Clinical Pharmacologist


Paul Janssen Futurelab Leiden

On-campus

Finance for Biomedical Professionals

Adam Cohen

CEO and clinical pharmacologist


Centre for Human Drug Research

Finance for Biomedical Professionals

Richard Shull

Head of Deal Structuring and Trading Fundamentals


Shell

Finance for Biomedical Professionals

Pierre Peeters

Former site head early stage development


Organon

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