Sanford Burnham Prebys Discovering Better

Discovering Better Five-Year Strategic Plan Better Scientists

Better Research

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Better Scientists

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At Sanford Burnham Prebys,

we are unified and driven by a common purpose:

Medical discovery to improve lives.

Together

we will deliver better treatment opportunities to patients in need.

Table of Contents The Strategic Plan as Our Guide ......................... 2 Mission: Why We Exist ........................................... 4 Crossing The Chasm ................................................ 6 The Problem .................................................................8 Our Vision: A New Model ..................................... 10 Strategic Themes .................................................... 12

Discover Purposefully .................................... 14

Develop Quickly ............................................... 16

Build Community.............................................. 18

Grow Sustainably ........................................... 20

Milestones ................................................................. 22 Funding Sources .................................................... 24 Risks ............................................................................ 26

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1.

The strategic plan as our guide

We use strategic planning to create a clear picture of where our organization is, firmly establish where it wants to go, and develop a path to get there. Simply stated, strategic planning helps us realize our destiny.

At Sanford Burnham Prebys, we have a 45-year history of conducting groundbreaking biomedical research and laying the foundation for lifesaving treatments. We must now carry on our rich tradition of discovery and boldly build upon our past successes.

That is why we embarked upon this strategic planning process­—to improve our situational awareness, drive stakeholder engagement, and generate ownership for our future. We did this to paint a vivid picture of tomorrow and see that it comes true.

The result is a plan developed with ideas and insights from across the organization that calls for us to align the interests of our internal teams, philanthropic supporters, and investors to the common purpose of conducting exceptional research for maximum patient benefit.

But having a plan is not enough. We must also have the conviction to execute it.

Most plans fail, not because of faulty strategy, but because of poor implementation.

To avoid that fate, we will use our strategic plan as a guide to consistently remind ourselves of our vision and align our actions.

Our plan is clear, and the intended outcomes are objective. We know exactly what we are trying to accomplish and why. And we understand the impact we will have on patients in need everywhere. It is this clarity of purpose that gives us the greatest chance of success. Together.

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This plan will help create: Clarity — knowing where we want to go Everyone understands what the organization is trying to accomplish and how we contribute to the mission.

Alignment — everyone rowing in the same direction Ensuring individual efforts are coordinated with the overall mission and goals of the organization.

Focus — purposeful concentration on a goal Having a discrete area of effort with a non-divergent set of goals, free from distraction.

Ownership — responsibility for a critical role An intense sense of duty to and responsibility for the outcome of a project.

Autonomy — freedom to determine the best path Giving individuals a clear set of expected outcomes and enabling them to determine the best way to deliver the necessary results.

…to give us the best chance for success.

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WHYwe exist We Develop Better Scientists Preparing our scientists to maximize their impact on human health.

And Do Better Research Generating the new discoveries needed to solve medicine’s most challenging problems.

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Community Access

Better Therapies

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Sanford Burnham Prebys Mission We conduct world-class collaborative research dedicated to finding cures for human disease, improving life, and educating and training the next generation of scientists, thus creating a legacy for our employees, partners, donors, and community.

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Crossing the Chasm Too few ideas make it from discovery into medical practice.

As few as

1 in 25,000 publications lead to a new drug

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‘‘

I’m a physician and basic scientist and have grown impatient about figuring out how basic science discoveries can find their way into clinical benefits.”

Francis Collins, MD, PhD Director, National Institutes of Health

And it takes an estimated

15 years and costs

$2.6 billion

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The Problem Funding Agencies

Commercializing Entities

Patient Benefit

Academic Collaborations

Scientific Journals

The ultimate goal of biomedical research is to change medical practice to benefit patients. This critical work is supported by funding agencies such as the National Institutes of Health. But despite significant investment, discoveries are rarely efficiently translated into new treatments for patients.

Why? Patient benefit is often seen as too distant a goal to be considered a primary target for discovery research. Consequently, more immediate targets are established with their own reward systems. Publication elevates standing. Grantsmanship yields funding. While these activities hold tremendous value in the creation and dissemination of knowledge, in the scramble to satisfy them, the ultimate goal of helping patients can get lost.

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When something does make it from discovery to clinical use, the path is rarely direct. Instead, new ideas take an inefficient path that zigzags from entity to entity. This type of serendipitous development is massively expensive and timeconsuming and people in need suffer as they wait. When a new treatment is successfully developed, the reward almost exclusively falls to the commercializing entity. Little if any recognition or remuneration finds its way back to the entity that made the initial discovery.

As a result, a promising discovery may arrive late and without consequence to the discovering institution. But more often than not, great ideas perish en route, and the treatment never arrives at all.

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What’s Needed

is a way to close the gap between discovery and patient benefit.

• Patient benefit must be a primary target for

discovery research • Systems must be established to improve the speed

and efficiency of hitting that target • The discovering institution and its supporters must

directly share in the outcome of the discovery Funding Agencies

Patient Benefit

Academic Collaborations

Scientific Journals

A better model is not only possible, it is achievable.

It starts with us.

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Our Vision A new model built around mission

This is where it all begins. At Sanford Burnham Prebys, we do world-class discovery research with purpose— to advance the state of patient care.

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Discover Purposefully:

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Grow Sustainably:

With success comes the ability to reinvest and grow our discovery, development and education efforts in a financially sustainable manner.

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Together we are building a new model for biomedical discovery.

Where we continually strive to increase our impact by efficiently translating ideas into medical practice and developing the scientific leaders of tomorrow.

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A model where people of all backgrounds, each one a key member of the team, come together to achieve the shared mission of improving human life.

Develop Quickly:

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Great discovery must be supported by effective development systems designed to rapidly demonstrate meaningful clinical benefit and produce an economic return.

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Where our hard work and success bring financial sustainability and greater scientific freedom.

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A better model, where stakeholders are aligned around the common purpose of producing scientific breakthroughs that improve patient benefits.

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Build Community:

The more people we can recruit and equip to effectively take up our cause, the greater impact we will have on patient care.

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The four things we must do to make the model work (our strategic themes)

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Discover Purposefully — Align our discovery research efforts toward the primary target of patient benefit.

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Organize research teams around patient needs Proactively seek translation opportunities Incentivize success

Develop Quickly — Create systems to rapidly demonstrate clinical benefit for our most promising discoveries

• Engage patients and philanthropic supporters • Create an incubator to drive development of investable technologies • Establish a venture funding model to fuel rapid progress

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Build Community — Establish the culture needed to support the model and achieve our mission

•

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Attract and retain a highly talented and diverse team passionate about our mission Expand our impact by educating the biomedical leaders of today and tomorrow

• Cultivate partnerships to advance our mission

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Grow Sustainably — Increase our impact in a financially sustainable manner Explore new ways to improve our operating model

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Generate philanthropic support necessary to fund plan infrastructure

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Streamline our internal cost structure

Better Therapies

• • •

Treatments

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Discover Purposefully Align efforts toward patient benefit

Funding Agencies

Aim more arrows directly at the target

Patient Benefit

Academic Collaborations

Scientific Journals

Rationale: Pioneering biomedical research is at the heart of why Sanford Burnham Prebys Medical Discovery Institute exists. It is our core competency and most valuable differentiator.

It is critical that our discovery research maintains the scientific freedom to explore new ideas and generate paradigm-shifting insights. But without alignment toward the common goal of patient benefit, our discovery efforts risk not reaching their full potential. The Discover Purposefully strategic theme is about making sure that the start of our medical innovation cycle is fueled with resolve and urgency to discover, not only for the advancement of our scientific knowledge, but for the ultimate goal of improving patient outcomes.

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Organize research teams around patient need

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Creates responsibility and autonomy for therapeutic target and candidate generation • Enhances collaboration across disciplines and subject matter expertise, both internal and external • Maintains scientific freedom to explore innovative research at the scientist level Bu

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We will organize research programs into patient impact teams, focused on specific medical specialties or unmet needs, to spur innovation and drive outcomes through ver co De the intensity derived from a shared purpose.

Proactively seek translation opportunities We need a system to proactively identify discoveries or assets with high potential for medical and commercial utility and provide the guidance to fast-track their development and maximize value.

• Leverages relevant subject matter experts to continually identify

and evaluate assets with the greatest potential to impact patient care • Establishes development road maps and transition plans for promising discoveries and assets • Provides a mechanism to advise donors and investors on opportunities to support research and development

Incentivize success We must establish feedback loops that properly reward discovery research focused on patient benefit.

•

Ensures individual team members and the Institute are aligned to success criteria • Connects individuals and teams to the patient—and therefore, to our mission • Enables reinvestment with capital to further scientific freedom and fuel the next great discovery

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Develop Quickly

Create value by demonstrating clinical benefit Funding Agencies

Accelerate the arrows to the target Patient Benefit

Academic Collaborations

Scientific Journals

Rationale: In biomedical development, time matters. The massive costs of developing a medical product coupled with a limited patent life to recoup those costs means many biomedical discoveries miss their development window of opportunity and therefore never reach patients. To avoid this fate, we must efficiently advance our most promising assets up the development curve. We will accomplish this by harnessing the passion of our partners, the development strategies of an incubator, and the essential support of an investment fund. This will have the dual benefit of accelerating the translation of new discoveries into lifesaving treatments while generating returns to the Institute and its partners.

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Engage patients and philanthropic supporters

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• Inspire and motivate the team to achieve its goals • Validate therapeutic utility of discoveries • Generate a broader network of shared knowledge and support

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Inclusion of patients, health care providers, and interested stakeholders directly in the process of medical innovation is one of the most effective ways to understand knowledge gaps, focus ver ver ver research efforts, and create urgency for all involved. These stakeholders will: co co co De De De

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Create an incubator to drive development of investable technologies Promising discoveries will benefit from entrepreneurial business development teams assembling the assets or technologies into corporate entities. The incubator will create investable programs with strong value propositions and sound business plans for development and eventual divestiture. The incubator will:

• Generate product-specific business plans to guide further development • Negotiate and manage product assets, including intellectual property

and data, to drive value • Employ an agile structure to facilitate rapid product development and uncomplicated divestiture

Establish a venture funding model to fuel rapid progress The rapid development of product candidates requires significant sums of money and carries substantial risk. Attracting external investment will provide necessary capital, generate third-party validation of the technology, and provide a path for financial returns to the Institute. The venture fund will:

• Establish and operate a venture fund to support technology development • Create a flexible financing framework allowing for targeted or

passive investment • Provide philanthropic donors to early-stage science the opportunity to participate in later-stage development as an investors

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Build Community

Establish the culture and a team necessary to achieve our mission Funding Agencies

Inspire and equip others to advance our cause

Patient Benefit

Academic Collaborations

Scientific Journals

Rationale: We are stronger working together than we are as individuals, aligned by the common purpose of translating science into medical practice that improves people’s lives. We will grow and develop our internal teams, forge strong relationships with partners who share in our mission, and have a lasting effect by preparing biomedical leaders to better serve the field. Together, we will build a culture and community that provide the inspiration, creativity, urgency and resolve to tackle the most vexing biomedical challenges and deliver impactful solutions for decades to come.

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Attract and retain a highly talented and diverse team Our people and their talents are the backbone of our organization. We will invest in their growth and development and in creating a workplace environment that embraces novel ideas and empowers every member to fully contribute to our mission to improve patient lives.

• Recognize and develop greatness within our organization and recruit only

the best talent from outside • Foster a diverse and inclusive workplace • Develop a culture of high performance and personal and professional accountability

Educate and train the biomedical leaders of tomorrow A core element of our mission is to use the discovery process to educate the biomedical leaders of tomorrow, thereby extending the reach of our discoveries and impact.

• Provide the highest quality biomedical education and training • Broaden educational programs to include the entire continuum of biomedical

discovery and development • Expand development opportunities in the areas of entrepreneurship, leadership and communication

Cultivate partnerships to advance our mission Building external relationships that complement our capabilities is essential to our success.

We will take a deliberate and structured approach to cultivating strong partnerships to bolster our discovery efforts, elevate our brand, and accelerate the development of promising technologies to benefit patients.

• Forge relationships with biotechnology and pharmaceutical companies

to advance discovery research to the clinic • Engage disease foundations, advocacy organizations and patients to inform our science and build a coalition of support for our daily work • Create new outreach channels to diversify the pipeline of scientists and professionals joining our team

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Grow Sustainably

Increase impact in a financially sustainable manner Funding Agencies

Expand the model responsibly

Patient Benefit

Academic Collaborations

Scientific Journals

Rationale: The realization of our vision means more patients will receive better care.

This is the driving motivation for our model, but not the only one. Because of the fixed cost nature of our infrastructure, the Institute becomes more economically efficient with scale. Therefore, we aspire to grow strategically to expand our impact and help ensure our long-term financial sustainability. We will accomplish this by controlling our internal cost structure, seeking new sources of revenue, and reinvesting proceeds from the divestiture of our technologies.

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Streamline our internal cost structure Every responsible organization must continually look to control its cost structure in a way that does not inhibit growth and development, and we are no exception. We will carefully examine our processes, systems, and expenditures to identify potential savings. The more unnecessary expense we eliminate, the more capital will be available for growth initiatives.

• Renegotiate vendor and supply contracts • Replace wasteful or outdated processes and systems • Eliminate non-value-added activities and infrastructure Create an innovation team to explore new ways to improve our operating model Over the life of this plan, we must continually seek ways to improve our model by testing new ideas that could lead to greater efficiency or impact. However, we do not want to create unnecessary disruption by prematurely exposing the organization to underdeveloped programs. Instead, we will leverage a lean, focused innovation team to evaluate new ideas to increase our effectiveness.

• Create a place to experiment with new ideas that are not yet ready

for widespread adoption • Encourage prototyping and iterating on projects and programs • Allow implementation of new initiatives that have been pressure-tested and are mission-aligned

Generate philanthropic support necessary to fund plan infrastructure Despite its ambition, this strategic plan is not immune to current economic realities.

To independently fund the infrastructure and other foundational activities necessary to implement the plan, we must launch a campaign to secure sufficient philanthropy to support and execute our work.

• Create a clear and compelling value proposition for potential

philanthropic contributors • Communicate the plan to individual, foundation, and corporate stakeholders • Meet or exceed the expectations of all funding milestones and commitments

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Milestones Phase 1

Phase 2

Key Initiatives

Key Initiatives

Completed by January 2022

Completed by January 2023

• Align stakeholders to the “what, why,

• Initiate discovery/candidate hunting

• Recruit and retain the diverse talent

• Launch incentivization program • Draft a transition plan from Discovery

and how” of the plan

needed to execute the plan

• Streamline cost structure • Plan and organize patient impact teams • Build an incentivization structure • Draft plan for incubator and venture fund • Draft charter for business model innovation team

• Initiate philanthropic campaign to fund plan infrastructure

activities

to Develop

• Recruit teams for incubator and venture fund

• Launch first expanded educational offering and leadership training

• Connect all teams and programs to patients • Launch innovation team • Initiate philanthropic campaign for discovery efforts

• Identify alternative revenue sources and draft plan to acquire

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Raise plan infrastructure costs through phase 2

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Every stakeholder completes plan orientation

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Business plan and charter for incubator and venture fund adopted

Quickly

Three patient impact teams operating

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Expected Outcomes

Develop

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Expected Outcomes

First technology selected for Develop Exceed 250 publications annually Establish advisory and operations teams for incubator and venture fund 50% Increase in enrollment 100% of teams connected to patients Raise philanthropic funds to meet transition plan and infrastructure needs Improve productivity by 15%

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Phase 3

Phase 4

Key Initiatives

Key Initiatives

Completed by June 2026

Completed by June 2024

• Expand patient impact teams • Launch the transition plan from Discovery

• Scale composition and funding of

• Launch incubator and venture fund • Expand educational curriculum to include

• Divest assets at appropriate

to Develop

business and regulatory training

• Identify and take actions necessary to optimize corporate structure

patient impact teams to repeatedly advance discoveries to Develop value inflection points

• Expand educational curriculum

through clinical drug development and biomedical entrepreneurial training

• Reinvest in Discovery, Develop, and Education programs

Expected Outcomes

Sustainably

Grow

Raise philanthropic funds to meet transition plan and infrastructure needs Improve productivity by 30%

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Discover

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Develop

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50% of workforce and 100% of managers undergo leadership training

Divest first

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Successfully fund first develop stage entity

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25% increase in grant and contract revenue

Two fundable discoveries

Grow

One fundable discovery delivered to Develop per year

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delivered to Develop annually

development stage asset

Train or educate 100

biomedical leaders annually

Operate on a balanced budget 23.

Funding Sources

Creating a self-sustaining discovery engine

Grant funding sources

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drive initial discovery research (National Institutes of Health, California Institute for Regenerative Medicine, etc.).

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Model infrastructure

and continued organizational growth are funded through philanthropy.

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Financial Model and Philosophy Sanford Burnham Prebys excels at attracting grant funding because of our stellar reputation for conducting groundbreaking biomedical research. We believe these same discoveries, if efficiently developed, hold tremendous societal value and the potential for meaningful economic return. To accomplish this, we need the

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financial backing of both our philanthropic and investment partners, who can expect us to perform as promised. When discoveries reach maturity, the proceeds from divestment will be returned to the Institute for growth and strengthening of the organization. The result will be a self-sustaining organization that generates biomedical discoveries for patient benefit.

Early translational work

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is funded through philanthropy with the potential for equity investment during subsequent asset development.

This investment provides the capital necessary for product advancement with an opportunity for economic return to the participants upon maturity.

Assets are divested

to entities equipped to complete development and commercialize the product for maximum patient impact.

Bu Proceeds

from the divestiture of assets are reinvested into Discovery, Develop, and Education.

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Risks

What needs to happen and when

The following list highlights certain risks identified by Sanford Burnham Prebys that could cause the Institute’s actual results to fall short of this plan’s projection. It is intended to heighten awareness of potential obstacles so that we may take proactive steps to prevent their occurrence and/or mitigate their effects. This list is not exhaustive.

1. Risk: Stakeholder Buy-In No matter how well-conceived, innovative or promising a plan for success might be, the inability to garner the support of key constituencies of an organization will doom the effort. At Sanford Burnham Prebys, the failure to secure commitment to the plan by the board and internal stakeholders will stymie the effort to fulfill the Institute’s mission.

Mitigation: Inclusive and engaging strategic planning process as well as leadership commitment to organizational accountability. This, coupled with communication best practices and continuous feedback loops, will ensure stakeholder understanding of and commitment to the strategic plan and vision.

2. Risk: Top Talent Execution of our strategic plan and delivery on our mission will require exceptional people who share a devotion to making life better for patients. It is not easy work and it is not for everyone. An inability to attract and retain top talent that is both highly skilled and culturally aligned will have negative consequences not just for our Institute but for those we ultimately serve.

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Mitigation: Recruitment and retainment strategies that focus on identifying and developing leaders who demonstrate capability and commitment to the vision and are aligned with the organization’s values; we create organizational clarity by communicating broadly with team members.

3. Risk: National Institutes of Health Funding While our business model is intended to bring financial stability and sustainability to the Institute, for a time Sanford Burnham Prebys will remain vulnerable to uncertainties in National Institutes of Health budgets and changes in reimbursement calculations. Such changes can have a significant impact on our researchers’ ability to obtain the funding necessary to conduct their work and on the Institute to provide them with the best environment for that research.

Mitigation: Pursue efficiencies in cost structure and identify new sources for research and development funding through new initiatives as outlined in the strategic plan.

4. Risk: Asset Supply Our model depends on raw material consisting of promising therapeutic targets and technologies to fuel the valuable output that will sustain the organization and reward our financial partners. An insufficient generation or acquisition of commercially promising assets will hamper the economic return that will stabilize the Institute.

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6. Risk: Unrealized Product Development Our plan depends on our ability to identify promising targets, technologies and approaches and then de-risk those assets to a divestiture point. The failure of scientific and business development plans for those assets will preclude reaping a return on our investment and jeopardize our mission.

Mitigation: Develop an incentive framework to drive internal innovation to grow a pipeline of promising assets combined with a robust strategy to cultivate partnerships with external sources.

Mitigation: Harness expertise in advisory panels to identify truly promising technologies and approaches and create business development plans that appropriately account for project risks and development milestones.

5. Risk: Investment Capital

7. Risk: Pandemics or Mandatory Closures

To realize maximum value from our discovery engine, we need to efficiently advance our most promising technologies up the development curve. Without the support of investment partners, this cost-intensive process will just create another development graveyard.

Mitigation: Comprehensive communications and marketing strategies to develop successful relationships with investment partners that participate in Sanford Burnham Prebys venture funds and other development activities.

Natural and other disasters can disrupt our organization and impede our ability to perform basic business functions. Governmental measures to combat these contingencies can further complicate our capacity to conduct essential work on-site or off-site and put our productivity at risk.

Mitigation: A communication and human systems plan to minimize impact on operations that ensures focus on achieving expected outcomes and provides support necessary for vital research functions and off-site activities.

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Together We Develop Better Scientists

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Together we will deliver better treatment opportunities to patients in need.

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