Summit 10
February 25, 2021 | 11 AM EST | 90 min.
Broadcasted on GoToWebinar with archived recording available on Cavendish IQ.
Fireside Chat with Satter Investment Management
Founder, Satter Investment Management (SIM), and founder, Satter Foundation, joining the Summit from Chicago, Ill.
Muneer A. Satter manages Satter Investment Management (SIM), a private investment firm and family office. SIM has significant investments in healthcare companies. He also manages the Satter Foundation, a private family foundation.
Mr. Satter is a retired partner at Goldman Sachs, where he was a partner of the firm for sixteen years. He spent his career in the Merchant Banking Division which manages the firm’s private investments. Mr. Satter joined Goldman Sachs in 1988 and moved to London in 1992 to start up and co-head the firm’s Merchant Banking Group in Europe. He later returned to New York and was the global head of the Mezzanine Group, where he raised and managed over $30 billion of assets. The mezzanine fund had a compound annual return of 12.9% for the sixteen years until Mr. Satter retired in 2012. This compares to 5.6% for the S&P 500 and 5.9% for the high yield index. He was also a senior member of the Investment Committee which made investment decisions involving companies with a total enterprise value of several hundred billion dollars. He was chairman of the Risk Committee for the Merchant Banking Division, which at the time had over $80 billion of assets under management.
He is vice chairman of the Board of the Goldman Sachs Foundation and GS Gives, where he is also chairman of the Investment Committee overseeing $1.2 billion of assets. He is a member of the Board of Northwestern University where he is chairman of the Finance Committee. He is also a member of the Board of the Navy SEAL Foundation. He is a member of the Board of the Northwestern Medical Group (over 1,000 doctors and over $1 billion of revenue). He is on the Board of Advisors of Accelerate Institute (which provides leadership training for school principals) and on the Board of Trustees of the US Olympic and Paralympic Foundation. Additionally, he is on the Board of Advisors of the American Enterprise Institute. He was formerly on the Board of World Business Chicago (chaired by Mayor Rahm Emanuel). He is a member of the Council on Foreign Relations. He is a former co-chairman of Room to Read (which builds 2,000 libraries and schools per year in developing countries). He is a former member of the Board of the Nature Conservancy where he was chairman of the Finance Committee overseeing a $1.8 billion endowment.
Mr. Satter is a director of Annexon which is a complement cascade pathway company focused on autoimmune and neurologic diseases. He was chairman of Akebia Therapeutics from 2012-2018, during which time it grew from a private company with a $60 million valuation to a publicly-traded biotech company with a $1.5 billion dollar valuation, focused on the treatment of anemia. He is on the board of directors of REX – Real Estate Exchange, Inc.
Mr. Satter received a B.A. from Northwestern University, and a JD/MBA from Harvard Law School and Harvard Business School. He lives in Chicago, IL with his wife, Kristen, and their five daughters.
Partner, Investor Relations, Satter Management, joining the Summit from Chicago, Ill.
Kevin Rochford is a Partner at Satter Management. He joined Satter Management after eight years at Bessemer Trust as a Managing Director having overseen the Chicago, Dallas, and New York City offices, working with large families and family offices. Prior to Bessemer, Mr. Rochford was a Managing Director for Nuveen Investments.
Previously, he spent 13 years with Northern Trust, most recently as Chairman and CEO of Northern Trust’s Western Region. While at Northern, he also lived in London and oversaw investment activities there, as well as Hong Kong and Tokyo. Prior, Mr. Rochford held roles at the Board of Governors of the Federal Reserve System. Mr. Rochford served as an artillery officer in the U.S. Marine Corps after college and was recalled to duty for the Persian Gulf War.
Mr. Rochford received his bachelor’s from Williams College and an M.B.A. from New York University. He serves on the boards of the Museum of the City of New York, Lookingglass Theatre, the Naval War College Foundation, and Truth in Accounting. He is also a member of the Economic Club of Chicago and the Chicago Council on Global Affairs. He lives in Chicago, IL with his wife and has two children.
Innovation Partner Keynote Speakers
Dr. Michel Bazinet, Chief Executive Officer and Chief Medical Officer, Replicor, Inc., joining the Summit from Montreal, Quebec. Dr. Bazinet previously joined Cavendish at the very first Forum in 2014, hosted at the United Nations in New York.
Dr. Bazinet will describe the current prevalence of chronic hepatitis B and the serious medical and social consequences of this disease. He will then review the poor efficacy of currently approved drugs and explain how Replicor is developing a new approach that will revolutionize the management of chronic hepatitis B by offering a new treatment that will generate much higher cure rates with a high safety track record. We will also describe how our drug will also have a major impact in the treatment of chronic hepatitis D which affects between 15 and 30 million people worldwide. Current state of development will be described as well as how new funds will be used to progress toward our ultimate goal of saving millions of lives.
Dr. Michel Bazinet has been the CEO and Chief Medical Officer of Replicor Inc. since 2003. He is responsible for the development strategy of the Company and oversees all operations, including the planning of clinical trials. Previously, Dr. Bazinet worked as assistant professor in the departments of Urology and Oncology at McGill University in Montreal. He did his medical training at Sherbrooke University, his urology training at McGill University after which he did a 3-year fellowship in human tumor immunology and urologic oncology at the Memorial Sloan-Kettering Cancer Center in New York from 1984 to 1987. In 1996 Dr. Bazinet founded a company called Mediconsult and was its Medical Director. Mediconsult became listed on NASDAQ in 1999 and was acquired in 2000. Dr. Bazinet has previously served as a member of the board of Directors for 2 public companies and has been a consultant for many biotechnology projects. Dr. Bazinet is one of the two listed inventors on 239 patents owned by Replicor, of which 169 have already been granted and an additional 70 patents are still pending.
Meet Dr. Bazinet and learn more about Replicor by logging in to Cavendish IQ.
Henry “Chip” R. Appelbaum, President and CEO, Novian Health, joining the Summit from Chicago, IL.
Novian Health is ready for the commercial launch of its proprietary image-guided laser system for focal destruction of tumors. Novian’s first product, Novilase Breast Therapy, intended as a minimally invasive alternative to lumpectomy, has an addressable market in Europe and the U.S. of $2 billion. It is performed in an outpatient setting such as a breast center. Novilase has shown improved efficacy at a lower cost versus lumpectomy. Patients benefit from a quicker recovery (hours not days), no need for cosmetic reconstruction, and improved health-related quality of life outcomes. An immunotherapeutic benefit may also accrue to patients as a result of the thermal ablation, potentially reducing the risk of recurrence even further.
Recognized as the industry leader in its space, it is the only ablation device with a CE Mark for the treatment of cancerous and benign breast tumors. In the U.S., FDA has de-risked the Company’s path to market with IDE approval for a 510(k) pivotal study that can be completed in less than two years.
Mr. Appelbaum was appointed President and CEO of Novian Health in February of 2005 and has more than 30 years of business development, marketing and sales, and science management experience. Previously, Mr. Appelbaum spent five years as Vice President of Corporate Development at Source Precision Medicine, a molecular diagnostics startup he helped found, and nine years at Amgen where he held different executive positions. He holds an MBA from the University of Chicago and a MS in Chemical Engineering from MIT.
Meet Chip and learn more about Novian Health by logging in to Cavendish IQ.
Introducing Michael Slatter, Chief Executive Officer, Anecare, joining the Summit from Salt Lake City, UT.
Anecare has created ANEclear, the only FDA approved, CE Marked commercially available technology that reverses the effects of anesthetics in the brain to quickly return brain function, breathing and consciousness after surgery; delivering a safer, lower cost recovery. This technology was developed by a team of anesthesiology researchers from the University of Utah and has generated sales of 45,000 disposable devices for adult use and revenue of $2.4M
The effects of anesthesia are widely known and have particular concern for children and seniors:
— 50% of children experience delirium after surgery, which can lead to injury, need for restraint, and other drug intervention.
— Delirium is the most common surgical complication in seniors over age 65, with 20-30% of these patients experiencing cognitive dysfunction.
Recently published research confirms how inhaled anesthetics shut down electrical signaling in neurons in the brain that control brain function, consciousness and breathing. ANEclear’s patented process accelerates washout of the unwanted residual anesthetics from the brain at the end of surgery and restores electrical signaling to return brain function; impacting brain health for kids and seniors during their recovery from anesthesia.