Current trends in venture funding continue towards increasing investments in companies with minimal burn-rates and developmental stage compounds. Who will fund the innovative (and risky) early stage projects that will fill the pipeline gaps that all pharmaceutical companies face in the next 5-10 years? This panel will focus on diverse approaches to support early-stage innovation. Among the topics to be discussed are: (1) the increased presence "incubators" whether funded by pharma, universities or private investors (2) the role of corporate venture capital in seeding innovation and (3) venture funds that are focused on early-stage investments. Among the questions to be probed are: what is the track record of these efforts? Can this be a viable means to develop companies of high value? And what will be the likely exit strategies?

• Describe novel approaches for support of early stage innovative research
• Discuss the potential for increasing the probability of success of early stage biotechs
• Encourage consideration of additional non-conventional means of supporting early stage biotechs