Consolidation among biotechs is an increasingly important and expanding trend in the life-science arena. As large biotechs face the upcoming expiration of patents on many of their important drugs, they are focusing on mergers and acquisitions as a means of expanding their product pipeline. Smaller biotechs offering both proven drugs as well as promising products in development are prime targets for acquisition. The challenging economic environment has made it difficult or impossible for many smaller biotech companies making a sale more necessary or desirable. We will present information on how emerging biotechs can prepare for the possibility of being acquired and discuss the types of M&A biotech transactions, the risks involved, and ways in which target companies can successfully navigate through the acquisition process. Alternative financing structures to facilitate making transactions will be presented.

• Provide an overview of what buyers look for when assessing potential target life-science firms
• Instruct how developing biotech companies can leverage their assets to make themselves enticing targets
• Provide an understanding of how to successfully navigate through the acquisition process