Setting up a commercial entity:
Collaborating early with the intended licensee or acquirer or joint development partners
Having guided the client company through product candidate identification phase, followed by the in vitro and early in vivo modeling and proof of concept, our assignment team of experts had confidence in the credibility of the accumulated scientific support data. That is, we had generated sound experimental SOP’s to support the lead product candidate and to demonstrate that the findings were consistent and reproducible. Further, the product candidate had been successfully transferred to 3rd Parties for independent verification and validation. Accordingly, we were ready to take the candidate to the next level of commercialization – that is, to position it before the executive decision makers in the ranks of our proposed customer companies.
In advance, we updated our competitive intelligence database, analyzed the prevailing economic and market trends, and reached out to a select group of leading target companies. Based on the feedback from our network of insiders at the respective target companies, we had a good idea of what their respective product development challenges and initiatives were at the time. Next, we arranged for meetings with their scientific and business personnel, presenting them with the opportunity to gauge the merits of the technology offering. We also highlighted the synergies to be derived from the proposed partnership. Hence, we solidified their trust, and determined their perceived wants and needs, and expressed our willingness to respond to their needs.
As a result of this approach, we had successfully provided our client company with twelve select early partner-funded feasibility study (PFFS) opportunities. Via this series of PFFS’s, our client received opportunity fees, and obtained independent validation of their scientific findings that also resulted in novel intellectual property filings, and licensing opportunities. Essentially, the whole process gave the client company higher public profile, generated additional revenues, added value, and fast-tracked the early growth phase of the company.
