Module

Biomedical entrepreneurship

Finance for Biomedical Professionals

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.

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.

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Your teacher

Kees Recourt

Investment Manager

Biomedical entrepreneurship contributors

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.

Finance for Biomedical Professionals

Erik Niks

Neurologist - Pediatric neurologist
Leiden University Medical Center

Finance for Biomedical Professionals

Piet Hinoul

Global Head, Pre-Clinical, Clinical and Medical Affairs
J&J Ethicon

Finance for Biomedical Professionals

Ad Sitsen

Owner
ClinPharMed Consultancy for Drug Development

Finance for Biomedical Professionals

Wim Parys

Head of R&D Global Public Health
Janssen Pharmaceutica

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

Finance for Biomedical Professionals

Ineke Jonker-Hoogerkamp

Consultant Regulatory Affairs and Drug Development
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

Finance for Biomedical Professionals

Marcel Kenter

Director
Paul Janssen Futurelab Leiden

Finance for Biomedical Professionals

Koen Andries

VP Scientific Fellow Infectious Diseases Discovery
Janssen Pharmaceutica NV

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.)

Finance for Biomedical Professionals

Justin Hay

Pharmacokinetics Assessor
Medicines and Healthcare products Regulatory Agency

Finance for Biomedical Professionals

André Elferink

Clinical epidemiologist
Dutch Medicines Evaluation Board

Finance for Biomedical Professionals

Rob Zuiker

Senior Clinical Scientist
CHDR

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

Finance for Biomedical Professionals

Robert Klautz

Thoracic Surgeon
Leiden University Medical Centre

Finance for Biomedical Professionals

Matthijs Moerland

Research Director Translational Biomarkers
CHDR

Finance for Biomedical Professionals

Joris Rotmans, MD, PhD

internist-nephrologist
LUMC

Finance for Biomedical Professionals

Janneke Meulenberg

CEO
Arthrogen

Finance for Biomedical Professionals

Inge de Lepeleire

Director Translational Pharmacology
MSD Europe

Finance for Biomedical Professionals

Koos Burggraaf

Research Director CVS & Metabolism
CHDR

Finance for Biomedical Professionals

Johan Garssen

Director Immunology Platform
Danone/Nutricia Research

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

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

Head of Education and Clinical Pharmacologist
Paul Janssen Futurelab Leiden

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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