Mediatum GmbH Turning Visions into Capital
Heidelberg (February 20, 2003) - As the biotechnology sector is undergoing a profound consolidation phase new rounds of financing are becoming increasingly difficult. Christoph Boehringer, partner and co-founder of the life sciences career network 'Mediatum GmbH' and member of the board of trustees of the pharmaceutical company 'Boehringer Ingelheim' underlines one problem many start-ups are faced with: "The most urgent need of many biotech companies in Germany is summed-up with the phrase 'commercialization management'. The is a severe lack of experienced managers that are capable of turning a scientific-technological start-up into a commercially viable enterprise." According to Christoph Boehringer, the deadlock can only by broken by the entrepreneurs themselves by striving for unconditional success - even if this meant giving over the responsibilities of company leadership to others.

Alone during 2002 some 40 companies have given up (having gone bankrupt, been liquidated, or taken over) versus only 27 new company set-ups*. Especially in difficult times it is of upmost importance to name the reasons for entrepreneurial disasters and to find new ways to turn the existing potential into renewed competitiveness and ultimately into success. As regards scientific innovations Germany is still holding one of the worlwide top positions. This becomes apparent in the fact that many US-based venture capital companies are buying-up technologies from German research institutes to commercialise them at home. Back there these visions seem to be turn into capital much easier as it seems here. Christoph Boehringer commenting on this: "Germany is lacking entrepreneurial spirit and the experienced management to drive it." Dirk Wilken, his partner at 'Mediatum', is adding: "Especially modern biotechnology is fostering numerous visionaries but what is still missing are committed people with the drive to use the necessary structures and processes to turn existing company values and visions into maximum entrepreneurial success." The scientists whose visionary ideas laid the foundations to the enterprise far too often miss the point to delegate the company leadership to more experienced managers.

But according to Christoph Boehringer, investors are also partly to blame for the current situation. Instead of actively shaping the future of their investment by offering their knowledge and experience to the companies most VC providers lean back until the next round of financing. Luckily the word has gone around, and more and more investors are realizing how important managerial expertise really is. Nowadays, substantial investment is only going into the hand of trusted and experienced teams.

As a remedy to the lack of management in biotech companies Christoph Boehringer is suggesting to install a management appropriate to the respective phase that a company is currently going through. To aid in the search for new executive personnel 'Mediatum' is offering its international network of 'human excellence' to anyone who seeks help. At the heart of this network is a unique pool of candidates that has been built-up after some 500 personal interviews with life science specialists, company directors, finance specialists, analysts, investment-, general- and executive managers from Europe and the US that have a proven track record. On the basis of this network and thanks to the expertise of its founders 'Mediatum' is able to offer the most qualified people to fill the management gap. This way a young biotech company with revolutionary ideas will be turned into a competitive and globally operating enterprise.

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*Source: BIOCOM®-Database 2003

About Mediatum GmbH:
The contact network of candidates and companies that was initiated by Christoph Boehringer is operating as a managerial recruitment agency. As a specialist in both the biotechnology and pharmaceutical sector 'Mediatum' is able to fill challenging vacancies by long lasting commitments with the companies and the candidates. The Heidelberg-based company is offering its services to promising start-ups and established companies as well as to VC companies and consultants throughout Germany, Austria and Switzerland.

Contact:
Mediatum GmbH
Marcus D. Link
Bergheimer Str. 89a
D-69115 Heidelberg, Germany
Tel.: +49-(0)6221-1375400
Fax: +49-(0)6221-1375410
Mobil: +49-(0)163-8258880
eMail: marcus.link@mediatum.com 
Web: www.mediatum.com 

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