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Words such as "anticipates," "believes," "estimates," "expects," "intends," "may," "plans," "projects," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward looking statements include, but are not limited to, those with respect to future profits, product revenues, the use of net proceeds from our initial public offering, the amount and timing of expenditures to complete clinical trials and the completion date for clinical trials. These forward-looking statements are only predictions based upon our current expectations, and actual events or results may differ materially. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements. Forward-looking statements involve risks and uncertainties. Our actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, the risk that we may not sustain our profitability; future sales of CellCept may be less than expected; our future operating results are uncertain and likely to fluctuate; we may not be able to develop and obtain regulatory approval for CellCept in the treatment of autoimmune indications and any future products in our targeted indications; we may not be able to establish marketing and sales capabilities and the costs of launching CellCept in the treatment of autoimmune indications and any future products for our targeting indications may be greater than anticipated; we may not be successful in establishing additional collaborations; we may face unknown risks related to intellectual property matters; we may face increased competition from other pharmaceutical or biotechnology companies, and other risks and uncertainties detailed in our filings with the Securities and Exchange Commission and Canadian securities regulatory authorities. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this presentation. All forward-looking statements are qualified in their entirety by this cautionary statement, and Aspreva undertakes no obligation to revise or update any forward-looking statements as a result of new information, future events or otherwise after the date hereof.Content: Content History and context of Aspreva Business Objectives and Challenges Recruiting Talent Challenges Approaches Successes (or otherwise) The FutureHistory of Aspreva: History of Aspreva Who we are: Aspreva Indication Partnering Strategy A Ground Breaking New Business Model Where we came from: A Start up company based on Vancouver Island – incorporated in Dec 2002. Headquartered in Victoria. Offices in UK, NJ & Switzerland Where we are going: Building a world leading company – focused on addressing the needs of individuals with less common diseasesAspreva Indication Partnering: A Ground Breaking New Business Model: Aspreva Indication Partnering: A Ground Breaking New Business Model Partnering Pharma’s best assets, finding new uses for existing drugs Focusing on one of the lower risk aspects of drug development Providing broader access to medicines Opportunity for near term revenues Unlocking value from Pharma’s best assetsAspreva Indication Partnering: Reduced to Practice: Aspreva Indication Partnering: Reduced to Practice Partnership with Roche for worldwide* rights to develop their leading drug, CellCept, for all autoimmune indications Aspreva obligations include financing, clinical and commercial development Roche maintains control of asset and regulatory interfaces, manufacturing and supply chain Agreement to 2017, includes rights to new formulations *excluding Japan Aspreva enables Roche to unlock additional CellCept valuePharma’s Challenge = Aspreva’s Opportunities: Pharma’s Challenge = Aspreva’s Opportunities Most drugs have indication expansion potential Pharma focuses brand strategies on core indications Potentially powerful therapeutic options not available for patients with less common diseases Industry ready for a business model that can unlock value Untapped therapeutic value hurts both Pharma and patientsAspreva’s Solution: Aspreva’s Solution Partners retain primary focus and control of key assets Off-label risks mitigated Aspreva gains access to high value/low risk assets Equal sharing in value creation Together provide new treatment options for patients Bio-Pharma Context: Bio-Pharma Context Pharmaceutical Industry: BIG Top 10 firms had 2003 sales of $280,000,000,000 CDN Sales represent 47.8% of global market in 2003 Nature of the Industry: Concentrated 11-20 firms had 2003 sales of $98,000,000,000 CDN 1/3 of top 10 Sales represent 16.7% of market Nature of Pharma: Long term, Risk Managed, IP conscious Centres of Bio-Pharma Industry: East & West Coast USA UK France/Germany/Switzerland/JapanKey Challenges: Key Challenges Build a business Define the business plan Provide resources - Secure appropriate funds - Recruit appropriate talent Deliver results Plan: Commercial Plan: US and Major EU Markets: Plan: Commercial Plan: US and Major EU Markets Commercialization expertise focused on less common markets ~75 Person Salesforce2005 US Lupus Market Opportunity: 2005 US Lupus Market Opportunity Significant Room for Growth SLE diagnosed patients ~600K Lupus Nephritis diagnosed patients ~200K Undiagnosed - not in healthcare system 200K 400K 91% ~9% Patients receiving CellCept SLE Population 0.5-1.5mm LN Diagnosed Patients ~200K Resources: Financial Summary: Resources: Financial Summary Revenues initiated April 1, 2005 Benchmark operating expense ratios Capital efficient business model World class global tax rate Strong balance sheet Cash and short-term investments as at June 30, 2005 US$ 100.5 M Q2 net revenue US$ 14.7 M Q2 net income US$ 1.2 M; Diluted earnings per share (EPS) US$ 0.03 Dual listing NASDAQ: ASPV; TSX: ASVResources: People Summary: Resources: People Summary Growth CurveRecruiting Talent: Recruiting Talent Challenges Approaches Results (or otherwise) Experiences and Approaches: Experiences and Approaches Attracting talent - 3 pools: Senior employees – global and mobile. Management – mid life, mid career, often dual income. Tough sell. Less attracted by proposition. Support – reasonable pool – limited exposure to global operations. Attracting talent to new company : Attracting talent to new company higher risk – new company, unproven record Many people self selecting – accepting higher risk (from industry which is typically more risk averse). Address financial fears through track record – sell hard Minimize sense of risk – progress of CellCept to date Reflect on current talent pool – they’re not alone Reasonable and fair termination clauses – if company changes control / releases without cause Focus on experience, growth and how role adds to personal CV High success rate - 90% Most rejections US based candidates C A R Access to Exec / Mgnt Talent pool : Access to Exec / Mgnt Talent pool Highly skilled workforces – pharma experience v. valuable Remote centers of talent – in NJ, EU, W. Coast Comfort zone – typically in areas with multiple employers = Bail out options Rare skills – regulatory, clinical development, pharma marketing, financial Focus recruitment in talent pool areas. Use professional body websites / communications Supplement with agency recruitment and paper ads Modify strategy – decentralize and recruit regionally Currently 30% of workforce with MBA, PhD, CA or MD 41% of Canadian employees relocated from somewhere C A R Location , Location, Location : Location , Location, Location Victoria BC, unknown to many people tough sell globally until you’re here! Not seen as ideal site – links to alternatives / options Relocation needs to be easy Sell hard quality of life Sell location for non work related activity Promote accessibility of City / country / skiing / travel Provide funds with broad use Provide 3rd party help & information: i.e. realtors / in-placement / banks/ schools / & in-company mentors No one has rejected offer based on location C A RCompensation : Compensation Packages – recruits often come from high salary companies Tight labour markets – with several rare & critical skill groups High pop density areas Focus on extensive use benchmarking / surveys & COL analyses to provide comparable std of living ++ keep packages simple and competitive – allow max personal choice Highlight housing costs, attractive but often hidden Taxes – advice & support Continued emphasis on sign-on to attract and options to encourage retention for middle and senior employees. Continuing challenge to pitch competitive offers Overall competitive for senior and skilled people, except US where other factors apply C A RImmigration : Immigration Visible need to recruit globally and publicize roles Extensive use of agencies to flag candidates Pressure to address recruitment timelines and balance individual anxiety Significant focus on building relationships with relevant government bodies. Direct applications – not via lawyers Significant documentation requirements Establishment of viable lead times for work permits Specialised legal advice sought when necessary 100% success rate to date 25% of Canadian based employees have relocated internationally, a further 16% from within Canada. Encouraging all employees to adopt PR C A RWillingness to evolve the HR Strategy: Willingness to evolve the HR Strategy Key aspects of early HR strategy: Define Corporate Policy and Practices Recruit experienced key talent – “plug and play” Develop local compensation programs Develop Global Performance Management Processes Evolving/ later HR Strategy Build flexibility into policies to resolve “new challenges’ Recruiting wider variety of people based on changing business needs Manage dynamic tensions between “local and global” “One size does not fit all” You do not have the permission to view this presentation. In order to view it, please contact the author of the presentation.