Market Segmentation

With our development candidate pipeline, we address some very large markets, but also some orphan diseases, which are small in number, but carry very high morbidity and mortality, and therefore represent high medial needs. In addition, it is prudent to segment the market in the developed world, where the health care systems can afford sophisticated medicines such as antibodies at the prices that allow for the recuperation of the high development cost and for the high cash flow required for continued R&D and operations, and those which generally cannot afford such medicines. For the latter we need to identify low-cost development pathways, such as provided by government or charity funding and need to secure support for the costly manufacturing, for instance. Consequently, we segment our portfolio into a commercial portfolio and a public health portfolio.