Publications

Keywords: Venture Capital; Decision Making; Going Public

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January 1994 (Revised April 2011)
Background Note

Note on Private Equity Partnership Agreements

Venture capital by necessity is a long-run investment. Consequently, since the mid-1960s virtually all venture financing has been raised through private partnerships with a ten-year or longer life span. To govern these investments, complex contracts have sprung up... View Details

Keywords: Venture Capital; Financing and Loans; Investment; Governance; Contracts; Partners and Partnerships

January 1994 (Revised November 1997)
Case

Aberlyn Capital Management: July 1993

Aberlyn Capital Management, a venture leasing firm specializing in providing capital to biotechnology firms, proposes to introduce a new product. Aberlyn will base a lease on an intangible product: the patent of a biotechnology firm. This poses a series of short and... View Details

Keywords: Financing and Loans; Valuation; Product Launch; Problems and Challenges; Patents; Financial Instruments; Financial Services Industry; Biotechnology Industry

January 1994 (Revised July 1998)
Case

Repligen Corporation: January 1992

By: Josh Lerner and David Kane

Sandford Smith, CEO of Repligen, faces the breakdown of negotiations about a proposed joint venture with a large pharmaceutical firm. He must decide whether to proceed using his firm's internal resources or whether to seek to revise the proposed collaboration. If the... View Details

Keywords: Joint Ventures; Decisions; Contracts; Agreements and Arrangements; Value

January 1994 (Revised November 2001)
Background Note

Note on the Venture Leasing Industry, A

Provides an overview of venture leasing, an innovative financing mechanism that resembles both venture equity investments and bank lending. View Details

Keywords: Finance

January 1994 (Revised April 1995)
Case

EMC Corporation: Response to Shareholder Litigation (A)

EMC Corp. is the target of a shareholder class-action lawsuit for the second time. CEO, Richard Egan, must decide whether to settle the case, as is done in 96% of such cases and as EMC itself did previously, or fight the action. View Details

Keywords: Decision Choices and Conditions; Lawsuits and Litigation; Going Public; Management Teams; Business and Shareholder Relations; Technology Industry; United States

January 1994 (Revised April 1994)
Case

EMC Corporation: Response to Shareholder Litigation (B)

Reports EMC's decision concerning the second shareholder class-action suit and its implications. Legislative efforts to reform securities litigation are also discussed. View Details

Keywords: Decisions; Lawsuits and Litigation; Going Public; Policy; Management Teams; Business and Shareholder Relations; Technology Industry; United States

April 1993 (Revised October 1995)
Case

ALZA and Bio-Electro Systems (A): Technological and Financial Innovation

To develop the next generation of risky products, ALZA, a mature and profitable biotechnology firm specializing in drug delivery systems, must raise $40 million. Organizational constraints and competitive concerns demand that the work be done inside the firm. However,... View Details

Keywords: Risk and Uncertainty; Technological Innovation; Business Subsidiaries; Decision Choices and Conditions; Corporate Finance; Biotechnology Industry; Medical Devices and Supplies Industry

April 1993 (Revised February 1996)
Supplement

ALZA and Bio-Electro Systems (B1): Rights Offering Strategy

Supplements the (A) case. Describes the CEO's decision. View Details

Keywords: Strategy; Intellectual Property

April 1993 (Revised February 1996)
Supplement

ALZA and Bio-Electro Systems (B2): The Rights Offering

Supplements the (A) case. Describes the implementation of the CEO's decision. View Details

Keywords: Intellectual Property

April 1993 (Revised February 1996)
Supplement

ALZA and Bio-Electro Systems (C): 1988-92

Supplements the (A) case. Describes the aftermarket performance of the units. View Details

Keywords: Performance

March 1993 (Revised May 1998)
Teaching Note

ImmuLogic Pharmaceutical Corporation (Series) TN

Teaching Note for (9-293-066--071) and (9-293-087). View Details

Keywords: Pharmaceutical Industry

1993
Article

Innovation and the Structure of High-Technology Industries

Keywords: Innovation and Invention; Information Technology; Business Ventures

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December 1992 (Revised September 1996)
Case

ImmuLogic Pharmaceutical Corporation (Abridged)

ImmuLogic Pharmaceutical Corp., a development-stage biotechnology company, is considering making an initial offering of common stock. The rationales for and problems of high-technology start-ups are explored. The challenges posed by "windows" for public offerings are... View Details

Keywords: Decisions; Initial Public Offering; Entrepreneurship; Going Public; Business Startups; Biotechnology Industry; Pharmaceutical Industry; United States

October 1992 (Revised November 1997)
Case

ImmuLogic Pharmaceutical Corporation (A): March 1991