Our Portfolio Planning & Risk Management Tutorials Part 1 & 2 are now available at HS Talks <read more here>                     We invite you to meet us at the BIO Europe Convention in Berlin, November 6-8 <contact info>                     Our Portfolio Planning & Risk Management Tutorials Part 1 & 2 are now available at HS Talks <read more here>                     We invite you to meet us at the BIO Europe Convention in Berlin, November 6-8 <contact info>                     Our Portfolio Planning & Risk Management Tutorials Part 1 & 2 are now available at HS Talks <read more here>                     We invite you to meet us at the BIO Europe Convention in Berlin, November 6-8 <contact info>                     Our Portfolio Planning & Risk Management Tutorials Part 1 & 2 are now available at HS Talks <read more here>                     We invite you to meet us at the BIO Europe Convention in Berlin, November 6-8 <contact info>                    
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  With the dedicated support, and particularly the experienced, constructive work of Bioscience Valuation, we accomplished meaningful results that provide important new knowledge enabling our next steps in diabetes research. We sincerely thank the entire Bioscience Valuation team for their valuable and straightforward collaboration in the past year, and look forward to the next opportunity of working with them again.

Prof. Dr. Thomas Danne, Director, and Dr. Bärbel Aschemeier, Clinical Research, AUF DER BULT Hospital for Children and Adolescents


Core Services
  Financial Valuation
  Commercial Assessment &

  R&D Risk Analysis &
Productivity Increase

  Portfolio Management
  Investment Decisions
  Partnering / Licensing
  Corporate Finance / M&A

Special Expertise
  Economic Modeling
of Healthcare Systems

  Assessing the Economics
of Personalized Medicine

Comprehensive Support
  Corporate Partnership Program

  Market Model
  R&D Risk Model
  Valuation Model

Bioscience Valuation Team

Joachim M. Greuel, Ph.D., MBA
Managing Director, Co-Founder
Joachim earned his Ph.D. in Physiology 'Summa Cum Laude' from the Max-Planck-Institute for Brain Research in Frankfurt (Germany) and his MBA from the Wharton School of the University of Pennsylvania (USA). At the IE Business School in Madrid (Spain) he served as Academic Director and as Adjunct Professor of Finance and Healthcare Management, teaching the Business School's Pharmacoeconomics course. Besides, he is a certified stock broker / dealer (Frankfurt Stock Exchange).

Joachim began his professional career as head of a research team at Bayer AG (Germany). After his business education he joined the strategic services practice of Andersen Consulting (Switzerland and Germany). Before founding Bioscience Valuation Joachim was investment manager at New Medical Technologies, a Swiss venture capital fund.

Kerstin M. Bode-Greuel, MD, Ph.D.
Partner & Co-Founder
Kerstin studied Medicine in Marburg (Germany), Cambridge (UK) and Nottingham (UK). She started her professional career in Neuroscience with a doctoral thesis in neuroanatomy followed by a postdoc in neurophysiology and neuropharmacology at the Max-Planck-Institute for Brain Research (Frankfurt am Main, Germany). Subsequently Kerstin spent eight years in drug discovery and development at Bayer AG. She proceeded to global project and portfolio management and was educated in corporate finance at the Wharton School of the University of Pennsylvania (USA). Kerstin developed and enhanced modern, quantitative project and portfolio management methods. She has authored two expert reports for SCRIP ('Financial Project Evaluation and Risk Analysis in Pharmaceutical Development' and 'Real Options Evaluation in Pharmaceutical R&D') and various publications in the area of value-driven R&D management.

Kerstin is a founding partner of Bioscience Valuation. Since 2012, she has been working at QuintilesIMS' Central Europe Division as Director of Business Development and Marketing (Real World Insights). Kerstin is particularly dedicated to developing disease registries and is driving new models of cooperation with specialty physicians to enable patient-centric health services research.

Sabine Bernotat-Danielowski, Ph.D., MBA
Director, Business Development
Sabine did her PhD thesis at the Max-Planck-Institute for Biophysics in Frankfurt (Germany) and continued her academic career at the Max-Planck-Institute for Experimental Cardiology (Bad Nauheim) before joining the pharmaceutical industry. She also earned an MBA from the Ashridge Management School (UK).

At Merck KGaA she advanced her career and leadership roles from discovery research, project management and clinical development to strategic marketing. With her broad experience in R&D Sabine became global Head Portfolio Planning and successfully implemented value-driven portfolio management. Her subsequent tenure at Daiichi Sankyo in the USA included a role as Head of the Business Analysis and Competitive Intelligence unit; during the merger of Daiichi and Sankyo she drove the design of an integrated R&D strategy and implementation of new business processes. More recently she became General Manager and Head of the Daiichi Sankyo Europe and India Drug Development organizations with responsibility from first-in-human studies to regulatory approval. Her particular interest is in end-to-end evidence based concepts ranging from a scientific idea to drug product attributes. Sabine served as member of the global executive R&D decision making committee.

Doug Morgan, Ph.D.
Director, USA
Douglas received a Ph.D. in Biochemistry from the University of Missouri-Columbia. He started his career in drug discovery at Hoffmann-LaRoche and advanced through positions at Abbott Laboratories, TAP Pharmaceuticals to become a Program Executive at Biogen Idec and most recently, a Senior Director in Clinical Development at Regeneron Pharmaceuticals. During his career, Douglas has designed drug development programs through NDA and he has led cross-corporate teams in successful discovery and clinical programs through IND submissions, early clinical development and Phase II proof-of-concept studies.

Doug was awarded academic research grants from the National Institutes of Health and the American Heart Association and has received awards from Abbott Laboratories and IPF Pharmaceuticals (Hannover, Germany) for his accomplishments in drug discovery.

Prof. Alexander Schuhmacher, Ph.D., MBA
Director, R&D Performance Metrics & Business Model Innovation
Alexander graduated in biology from the University of Constance (Germany) and in pharmaceutical medicine from Witten-Herdecke University (Germany); he is also a graduate of the Executive MBA program from the University of St. Gallen (Switzerland). As professor at Reutlingen University (Germany), Alexander teaches both business management and science. His research focus is on innovation management.

Prior to his academic career Alexander worked for 14 years in the pharmaceutical industry in various R&D positions. As member of Nycomed’s senior management team, he headed the Strategic Planning & Business Support team and co-headed the R&D integration team following the merger of Nycomed and ALTANA Pharma.  Alexander has in depth experience in R&D performance metrics, R&D efficiency and productivity measures, open innovation and business model innovation. In addition, he headed and coordinated various senior management committees and initiated strategic management and change management programs.

Pradip Bhatnagar, Ph.D., MBA
Director, Asia-Pacific
Pradip received a Ph.D. in Medicinal Chemistry from the University of Wisconsin (USA). He started his career as a Post-Doctoral fellow at Baylor College of Medicine, Houston Texas, and as Assistant Professor at the University of California, San Francisco, CA. He earned his MBA from the Fox School of Business, Temple University, Pennsylvania.

Pradip started his industrial career at Beckman's BioProducts Division and advanced through positions at SmithKline Beecham
to become a director in the Department of Medicinal Chemistry. Pradip also served as President of Research at Nycomed Bioreg, Norway. He then became a director in the department of WorldWide Business Development at GaxoSmithKline (GSK). Most recently, Pradip served as Senior Vice President R&D at Ranbaxy and President at Daiichi Sankyo India Pharma Pvt. Ltd. Pradip also advises the Indian government on issues related to biotechnology.

Dietmar Gundel, MS
Director, Corporate Finance
Dietmar studied Business Administration at the University of Bayreuth and pursued his Master in Management studies at the ESCP Europe in Oxford, Madrid and Paris.

As a member of the international M&A advisory team at Rothschild & Cie. in Frankfurt and Paris he worked primarily on transactions in the healthcare, financial services and information technology sectors. Dietmar co-founded the biotech start-up CallistoGen AG and served as the company's CFO until the company was aquired by The Genetics Company, Zurich. He became a member of the Executive Management Team and and represented the company as VP Corporate and Business Development. In this position Dietmar was responsible for venture capital fund raisings, pharma-biotech collaborations, new business development, M&A transactions and corporate restructurings. Dietmar was also senior equity analyst at SAM Sustainable Asset Management where he advised on investments in international public healthcare companies. During the last four years, Dietmar focused on classical M&A advisory work, project finance (e.g. financing of a cancer clinic) and on securing growth capital for technology companies.

Thomas Zürcher, Ph.D.
Director, Southern Europe
Thomas graduated in molecular biology and biochemistry from the Swiss Federal Institute of Technology (ETH) of Zürich, and received his Ph.D. in immunology and virology from the University of Zürich. He then continued his scientific career as a Post-Doctoral Fellow at the Mount Sinai School of Medicine in New York (USA) and the National Center of Biotechnology in Madrid (Spain).

Thomas started his career at GlaxoWellcome and later as group and project leader at GlaxoSmithKline (UK), contributing significantly to the Relenza Program and the development of new HCV drugs. Subsequently he became the Scientific Director of Chimera Pharma (Madrid, Spain) leading the development of novel therapeutic and prophylactic vaccines.  Most recently, Thomas served as CEO of Formune (Pamplona, Spain), a pioneering R&D Company dedicated to the development of therapeutic vaccines for the treatment of cancer and chronic infections.

Thomas has extensive know-how in directing and evaluating projects at the scientific and strategic levels across a variety of fields and technologies. He is particularly experienced in clinical development planning and IP management.

Engelbert Paschek, MS
Head, Economic Modeling
Engelbert studied technical mathematics in Innsbruck (Austria) and wrote his Masters thesis about the practical application of the concepts of game theory to the complex and dynamic decisions faced in competitive situations.

Since 2009 Engelbert has been supporting clients in all aspects of financial valuation, market forecasting, product and portfolio assessments and financial deal term analysis. He develops quantitative project and portfolio management tools, models to assess licensing opportunities as well as healthcare policies, and analyzes healthcare systems. He and his team also develops financial models and statistical methods to improve forecasting of a drug's sales potential and to evaluate public pharmaceutical and biotech companies. Engelbert has specific expertise in economic modeling, financial mathematics, valuation of stock options, and in the development of trading strategies.

Corina Ricci, MA, PRC
Manager, Marketing & Research
Corina joined Bioscience Valuation shortly after its establishment over 14 years ago. She manages operational and organizational matters of the office, as well as contributes to research projects. She is a member of the American Marketing Research Association's (MRA) Professional Research Certification (PRC) program. She has undergone studies jointly conducted by the MRA and the University of Georgia for the certification of The Principles of Pharmaceutical Marketing Research.

Subsequent to a Masters degree in education at the Open University in the UK, Corina is currently working on her professional doctorate degree at the Centre for Research in Education and Educational Technology (CREET). She is studying a specific patient group as topic for her thesis.
Corina is a former undergraduate student of the University of Maryland and a language teacher certified by the British Royal Society of Arts (RSA).

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