Big picture - Why invest in Amphion Innovations
Amphion Innovations Snapshot
The Company’s Business and Methodology
Amphion’s business is the formation, development, operation and financing of market-leading life science and technology companies in partnership with corporations, governments, universities and entrepreneurs seeking to commercialize their intellectual property. Building upon two decades of disciplined investment and operating expertise, the building of numerous successful public and private companies, and over $20 billion in value creation, Amphion provides an opportunity to participate in both public and private early-stage investments, with a primary focus on life science and technology companies
Amphion’s Value-Creation Process
The Directors believe that the key to Amphion’s success will be the continued pursuit of the management’s successful multi-phase process for value creation.
Through its experience in building more than 30 companies, the Management Team has developed a process which generally can be broken down into distinct phases. Set out below is a representation of Amphion’s value-creation process, showing the five key phases described in more detail.
Phase I. Creation and sourcing of opportunities
Working with universities, corporations, governments and entrepreneurs seeking to commercialize their intellectual property, Amphion identifies potential company-building opportunities. Throughout the process, Amphion maximizes value creation by drawing upon a collaborative network of strategic partners built over 20 years. This network provides access to innovative technologies, enhances its ability to identify and address unmet market needs and solicits the guidance of industry and technical experts. While this network is a key source of opportunities, it also provides advice and counsel throughout the company-building process that may be technical, financial or business-related and ultimately helps the Partner Companies compete and grow.
Phase II. Down-selection of opportunities
Amphion devotes considerable time and resources to screening for the most attractive business models and proven technology platforms from the available opportunities. Potential opportunities must also provide a tractable corporate and ownership position to ensure that Amphion will be able to implement its company-building process.
Central to Amphion’s selection and investment strategy is rigorous risk management based on identifying companies with proven technology and a quantifiable, verifiable business opportunity. Amphion does not invest in “speculative” technologies requiring long development timeframes or excessive capital investment; it looks for defensible core intellectual property and know-how for long-term competitive advantage, and growth potential in very large markets of at least $1 billion in size — and actively works with Partner Companies from the earliest stages to identify and defend core intellectual property (‘IP’).
For an example of our selection process, please click here
Phase III. Adaptive strategic positioning
Amphion then seeks to optimize its Partner Companies’ products and market positioning through refining or changing the emerging company’s market focus, business model, or strengthening the company management. Concurrently with this process, Amphion will undertake a review of the intellectual property, both strategic IP (i.e. what can be protected) and tactical IP (i.e. what can be protected) both to defend and expand the Partner Company’s competitive advantage and lead time over competitors.
Optimizing the business is often a “trial and error” process of rapid iteration and learning, with the objective of creating a company targeted on the greatest commercial opportunity that also provides a sustainable source of competitive advantage.
From this stage on, Amphion accelerates company development through a methodical and focused application of financial and human resources. The Management Team has traditionally adopted a hands-on approach with each new investment, seconding existing Amphion management to new Partner Companies in order to utilize Amphion’s accumulated knowledge in the company value-creation process, while gaining additional experience and insight which can be applied to subsequent investments.
Phase IV. Scaling and execution
In building its Partner Companies, Amphion typically provides a wide range of services including direct management, strategic planning, intellectual property planning and strategy, capital raising from Amphion’s network of investors, recruiting, business development, and other advisory services in areas such as marketing, administration, and capital markets. Amphion provides these services under an advisory agreement with the partner company and receives fees for doing so.
Amphion will then identify and recruit leading industry talent from its network of life science and technology partners and contacts to strengthen the management of the Partner Company, leading it to the next stage of development, generally an initial public offering or trade sale.
Phase V. Expansion and development
With an experienced industry team in place, Amphion continues to work with its companies over the long term, staying integrally involved with management, and seeking to influence and manage the boards and advisory committees to build value for both Amphion and Partner Company shareholders. To assist in this, Amphion will typically maintain a sizable ownership stake and measure of influence or control in the relevant Partner Company.
Throughout the company-building process, the Management Team strives to ensure that investor interests come before its own, and that the Company’s commitment to its Partner Companies, and investors, is a long-term one. The Company’s philosophy is to support its Partner Companies through difficult times, and provide additional management support when necessary to help them successfully weather downturns while improving their positioning for subsequent upturns.
Current Portfolio Summary (as of 31 December 2013)
For more information please click here
Robert J. Bertoldi, Executive Director
Prior to his involvement with the Company, Mr. Bertoldi was a founder President and CFO of Amphion Capital Partners LLC (the predecessor company) and VennWorks LLC. Mr. Bertoldi is also a general partner of Amphion Partners LLC (formerly known as Wolfensohn Partners, LP). Prior to that, he served as Chief Financial Officer for James D. Wolfensohn, Inc. and Hambro America Inc.
He began his career at KPMG and left as a manager in the investment services department. Mr. Bertoldi received a B.A. in Accounting and Economics from Queens College, New York in 1976 and became a Certified Public Accountant in 1978. He is a member of the AICPA and NYSCPA.
R. James Macaleer, Non-executive Chairman
R. James MacaleerMr. Macaleer is a co-founder of Shared Medical Systems (“SMS”) and was its chairman and CEO from its founding in 1969 to mid 1995. He was non-executive chairman from mid 1995 through mid 2000. SMS was the leading provider of financial, administrative and patient care automated information processing systems and services to more than 5,000 healthcare institutions in the US and 16 foreign countries.
Mr. Macaleer is a former director of Hamilton Bank, Corestates Financial Corporation, Vortech Data Inc., Premier Systems Corporation, the Brandywine Valley Association, and the Natural Lands Trust. He has served as chairman of Arrow International and as a founding member of the Advisory Council of the Princeton University School of Engineering. He currently serves as a director of the Chester County Council BSA, and as chairman of the Philadelphia Academy of Natural Sciences.
Mr. Macaleer graduated cum laude from Princeton University School of Chemical Engineering in 1955 and subsequently spent four years on active duty with the US Navy as well as seven years in the active reserves, flying carrier- based jet aircraft.
Richard C. E. Morgan, Executive Director
Richard C. E. MorganOver the course of his career, Mr. Morgan has been directly involved in the start-up and development of more than 35 companies in the information technology, healthcare, and biotechnology industries. Mr. Morgan was a founder and CEO of Amphion Capital Partners LLC (the predecessor company to Amphion Innovations). He was also the Managing General Partner of Amphion Partners LLC (formerly known as Wolfensohn Partners, LP) a position which he retains, although the partnership is no longer active.
Before joining Wolfensohn, Mr. Morgan spent 15 years with Schroders plc, a British merchant bank, where he was a member of the board of the merchant bank and head of the Schroder Strategy Group, which he founded. Mr. Morgan, a British citizen, was raised in Kenya and educated in England. He graduated with a B. Engineering First Class Honors from the University of Auckland, New Zealand. In 1982 he completed the Advanced Management Program at the Harvard Business School.
Gerard M. Moufflet, Non-executive Director
Gerald MouffletMr. Moufflet is Chief Executive Officer and Founder of Acceleration International, a private equity firm based in Boston, which invests in the healthcare sector in both Europe and the US.
From 1989 to 2001, Mr. Moufflet was a Managing Director at Advent International, one of the world’s leading private equity investment firms. From 1972 to 1989 Mr. Moufflet worked for Baxter International where he was in charge of various European and African operations and Head of Worldwide Strategic Planning for the dialysis product line. When he became Corporate Vice President and Vice President of Baxter World Trade, Baxter had grown to US $7 billion in sales.
Mr. Moufflet currently serves on the Board of a US publicly held company, American Dental Partners. He is also on the Board of several privately held companies in Europe and the US.
Miroslaw Izienicki, Non-executive Director
Miroslaw IzienickiMr. Izienicki is a career banker with experience of providing high level corporate finance advisory and M&A services, particularly in respect of multi-stakeholder engagements at or near the interface of government and commerce. Mr. Izienicki, after having served as Chief Operating Officer, is currently Senior Adviser to Gamma Finance LLP, a provider of advisory services to the alternative investments industry with a focus on illiquid hedge funds. Previously, he was Managing Director of Fifth Capital Group, the London-based think tank and leadership counsel. Prior to Fifth Capital, he was Head of Corporate Finance / M&A at the London international HQ of The Nikko Securities Co Ltd of Tokyo, one of the largest Japanese houses. Mr. Izienicki is an alumnus of University of Cambridge and UCL, London.
Mr. Izienicki presently holds directorships with Fifth Capital Limited and its subsidiary undertakings Fifth Capital Partners Limited and The Bank of Broad Wealth Limited.
Amphion Innovations US, Inc.
6th Floor, 330 Madison Avenue
New York, NY 10017
Phone (212) 210 6282
Fax (212) 210 6271
Email [email protected]
UK Media please contact
19 Buckingham Gate
London SW1E 6LB
Phone +(44) 208 630 3843
Amphion Innovations plc
Douglas, Isle of Man
Nominated Advisor to the Company
Panmure Gordon & Co.
One New Change
London, EC4M 9AF
Broker to the Company
Panmure Gordon & Co.
One New Change
London, EC4M 9AF
Advisors to the Company as to English Law
15 St. Botolph Street
London, EC3A 7EE
Advisors to the Company as to Isle of Man Law
Cains Fiduciaries Limited
Douglas, Isle of Man, Im1 5PD
Cains Fiduciaries Limited
Douglas, Isle of Man, IM1 5PD
Auditors to the Company
KPMG Audit LLC
41 Athol Street
Douglas, Isle of Man IM99 1HN
Neville Registrars Ltd.
18 Laurel Lane
Halesowen, West Midlands B63 3DA
Public Relations UK
19 Buckingham Gate
London, SW1E 6LB