In recent years, increasing numbers of pharmaceutical and biotech companies are making strategic investments in companies, along with or separate from financial investors, and either directly or through their own venture funds. We will explore the differences and similarities of strategic and financial investing. Representatives of strategic investors and two traditional venture capitalists will discuss their views of the goals of their investments, the process of identifying and doing due diligence on prospective investments, what terms matter most to them in the negotiation process, their involvement in portfolio companies (including on boards) and exit strategies.

• Discuss recent trends in life science investments
• Address the different objectives of strategic and financial investors
• Review how those differences affect the terms and conditions of financings, the relationship between the investor and company, and related issues