Dr. Joseph Kozikowski to chair panel on valuation of privately-held technology ventures at MIT Enterprise Forum Annual Meeting.
FRAMINGHAM, MA – October 1, 2000 – Clinivation, Inc. announced today that clinivation Founder and CEO Joseph Kozikowski, M.D. will chair a panel on technology venture valuation at the Massachusetts Institute of Technology Enterprise Forum of Cambridge Annual Meeting headlined as “Smart Money Strategies”.
Dr. Kozikowski will share his perspectives in a presentation entitled “New Enterprise Valuation Strategies- Rules of the Game” on October 28, 2000 in the Kresge Auditorium at the Massachusetts Institute of Technology in Cambridge, MA.
In his presentation Dr. Kozikowski will briefly review the fundamentals of enterprise valuation, highlighting the major methodologies of discounted cash flow, real options, and comparables. Illustrative examples of each of the methodologies drawn from actual transactions from Dr. Kozikowski’s corporate development consulting practice will be presented. The impact on valuation of deal structure, modeling program technical failure with real options methods, use of free cash flow to firm methods, and liquidity and strategic buyer premiums will be noted.
In addition, contemporary approaches to technology venture valuation will be presented. The approach of developing comparables for the point of liquidity or exit, and working back through successive financing rounds will be presented. The First Chicago method, cash-on-cash return methods, and ad hoc methods from investment banking analysts (such as the number of “eyeballs” which view an internet website, per Credit Suisse First Boston) will also be presented.
A panel discussion will follow Dr. Kozikowski’s presentation. Panel members include representatives from the biotech venture capital, multinational medtech corporate business development, multinational biotech corporate business development, and emerging biotech business development arenas.
