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Life Sciences Entrepreneurship Masterclasses

Life Sciences Entrepreneurship Masterclasses is a two-day long intensive training course that will walk attendees through the necessary steps and provide them with the skills to transform technology and invention into a viable company through the pathway of pre-clinical, clinical development leading toward partnering and commercialization:

DAY 1, Monday, September 12

Life Sciences Entrepreneurship Masterclasses will be hosted by Vilnius University Life Sciences Centre at Sauletekio Av. 7, Vilnius 

 8:30 am 9:00 am         Registration / Coffee
9:00 am 9:15 am         Opening Remarks by CoChairs and Organizer “Versli Lietuva”
Speakers: Dr. Remis Bistras, Prof. Teo Dagi, MD, “Enterprise Lithuania” Managing Director Rūta Pentiokinaitė
9:15 am 9:45 am         Participants Introduction, Goals of the course
9:45 am 10:45 am      Session 1: Drivers of Innovation Lecturer/Moderator: Teo Dagi, Remis Bistras
  • Life sciences trends and future development;
  • Successful transition from the idea to the product and commercialization with the special focus on individuals and teams behind the business;
  • Know-how sharing about building, investing and exiting life sciences companies.
10:45 am – 12:00 pm    Session 2: What do you really own? What Every Investigator Must Know about IP, Patents In-licensing and IP Management in Life Sciences Startups Lecturer/Moderator: Remis Bistras, IP attorneys; VC perspective; Strategics perspective: Teo Dagi
Invited Speaker: Prof. Vytautas Mizaras from Valiunas Ellex with a team.
  • Basic legal information sheet will be provided to the participants before the course;
  • Interactive discussion with lawyers;
  • Ability to consult with life sciences attorneys;
  • Main aspects of the corporate law and examples of NDA agreements.
12:00pm – 1:00pm   Lunch
1:00 pm – 2:00 pm   Session 3: Idea to Prototype - Product Development and Regulatory Planning; Implications for Strategy and Financing Lecturer/Moderator: Remis Bistras, Teo Dagi
  • Peculiarities of FDA and EMA regulations and procedures;
  • What are the stages and expenses of regulatory planning;
2:00 pm – 3:00 pm   Session 4: How much is your technology or product is worth? Valuing early stage technology in Life Sciences. Licensing, Partnering, Strategic Alliances, M&A Lecturer/Moderator: Remis Bistras, Teo Dagi
  • The logic of the venture capital funds and what they really want;
  • Ways to commercialize technologies/inventions.
3:00 pm – 3:15 pm   Break

3:15 pm – 4:15 pm   Session 5: People: Attracting Talent to Grow: Company Governance, Board, Founder and CEO Dynamics, Compensation Lecturer/Moderator: Teo Dagi, Remis Bistras
  • Building a startup team: how to choose the right team members and keep them motivated;
  • What to think about while setting the company’s governance and the board;
  • What are the roles of the founders and the team.
4:15 pm – 5:00 pm   Session 6: Seeking and Finding Investment for your Venture: Investors Perspective. Preparing a pitch.
Lecturer/Moderator: Teo Dagi Invited Speaker: Donatas Keras, Partner at Practica Capital.
  • What investors are looking for in your product;a
  • Sharing the experience on investing in startups by local venture capitalists;
  • Tips and tricks how to get ready to meet investors.
5:00 pm – 5:15 pm   Wrap–up remarks
5:15 pm –6:15 pm         Networking

DAY 2, Tuesday, September 13, Focus on Training and Investment Pitch

8:30 am – 9:00 am   Registration / Coffee
9:00am - 9:40am      Invited Speaker: Success Story of Life Sciences Startup (Dr. Algirdas J. Lukosevicius)
9:40 pm – 11:00 am   Session 7:  Seeking and Getting Grant and other Non-dilutive Money to finance your startup.
Invited speakers:  Alien TT and Ferentis
  • Horizon 2020 programme and opportunities for startups.
11:00 am – 12:00 am  Lunch
12:00 am – 5:00 pm    Session 7: Participating Start-up Companies Deliver Investment Pitch – (early technology companies, companies with little data)

A startup will present an investment pitch for his/her company to a panel of life science industry professionals who will make a real‐time critique and recommendations. Course participants will be invited to share their own views as well.

Format: Company pitch (7 minutes); Q&A; Panel feedback, discussion + audience feedback. Total 15 minutes
Moderator: Remis Bistras, Teo Dagi,  Target 15 start –up companies – early stage
5:00 pm- 5:15 pm         Combined Break with Voting

5:15 pm- 5:45 pm         Results Announcement and Closing Remarks

Masterclasses will be presented and moderated by the Life Sciences industry experts from Boston, USA. As Boston is considered to be one of the largest and most important life sciences centres in the world, we are having the top programme prepared by life sciences professionals:

Remis Bistras - CEO of Vittamed

The latest achievement of Vittamed is series A investment of USD 10 million, which makes it the record series A investment in the Baltic States. The startup secured USD 8 million financing from Malaysian venture capital fund Xeraya Capital Labuan Ltd, another USD 2 million from existing investor Imprimatur Capital and other investors. Vittamed created a product, that is a non-invasive intracranial pressure monitor which is the only one of its kind in the world yet, because intracranial pressure is still measured by placing a special sensor into brain tissue. This product has already attracted the interest of NASA.
Vittamed was the winner of the first LSB in 2012 - so for sure R.Bistras will share all his experience of reaching the success.
Besides that, R.Bistras is Biopharma and Medtech Business Development Executive with more than 20 years of experience in Business Development, Licensing and M&A in Life Sciences. His experience includes working for big pharma and medical device (Director of WW Business Development & Licensing at Novartis / CIBA Vision),  as well as entrepreneurial venture capital backed-up startups (VP of Business Development for EyeGate Pharma).  


Prof. Dagi is a prominent neurosurgeon and venture capitalist who served as neurosurgeon at Walter Reed Army Medical Center in USA and acted as a consultant in flight medicine and neurosurgery to the Surgeon General of the US.  For contributions to critical care in mass casualty settings, he was elected to Fellowship in the College of Critical Care Medicine, one of the first neurosurgeons so honored. He also taught at Medical College of Georgia and Georgia Institute of Technology in Atlanta.
Teo served as medical consultant to the Office of Technology Assessment of the US Congress and subsequently Special Assistant to the Assistant Secretary of Defense for Health Affairs. He sat on the FDA’s neurological advisory panel. In addition to other decorations, he was personally awarded the US Humanitarian Service Medal.
Teo has worked as a partner in two venture capital funds and is a clinical advisor in neurosciences to Broadview Ventures, the Venture philanthropy arm of the LeDucq Foundation in Boston.
Currently Teo lectures at Harvard Business School and Harvard Medical School in healthcare innovation. He sat on the steering committee of the Harvard-MIT Program in Biomedical Entrepreneurship.  He also chairs the International Advisory Panel at the School of Medicine, Dentistry and Biomedical Sciences at Queen’s University Belfast, Northern Ireland.
Dr Teo Dagi is an international speaker who has authored or edited eight books and monographs, and over 150 book chapters, journal articles, and abstracts.  Over the course of his 15 year venture capital career, which overlaps with over 30 years in the practice of clinical and academic surgery, he has worked side-by-side with entrepreneurs to create and finance many start-ups. He also teaches one of the most popular programs in Life Sciences Entrepreneurship and Innovation at Harvard Medical and Harvard Business Schools in Boston.

Attendees of 2014