1. Introduction

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11% of survey complete.

Dear Colleagues,

Which discount rate and which valuation method to use is a hot topic when making financial valuations of biotech projects and biotech companies.

Discount rates and valuation methods for biotech companies has been the subject of much theorizing. Methods as DCF, rNPV, and real options are methods known to most industry professionals.

When discussing the issue of valuation of biotech projects/companies with other professionals, it becomes clear that there are many different opinions regarding what is the ”correct” method and discount rate to use.

This survey is NOT about what you think is the right (theoretical) method and the right discount rate.

Rather the purpose is to gain a better understanding of which discount rates and methods are actually used by professionals around the world, and thus to give industry professionals a better overview of the different view-points in biotech valuation.

The survey takes less than 10 minutes to complete.

All respondents will receive the report on the survey findings free of charge.

Any questions or comments can be sent to: nhn@biostrat.dk

Thank you for your participation

Best Regards,

Nicolaj Højer Nielsen

<a href="http://www.biostrat.dk">Biostrat Biotech Consulting</a>