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Our client, a diagnostics company, had their technology, but required company infrastructure, specifically contract-to-perm senior executive business leadership, to move forward as a start-up.
Based on a university-licensed technology, this disease diagnostics company approached BiotechExec with the need for an experienced industry leader to start and grow the business.
Although the technology had a strong scientific backing, the need for business leadership for this company was critical. With seed funding still in process, the challenge was finding this senior executive without the ability to yet offer competitive compensation.
BiotechExec presented multiple candidates from the IGNITE Network with qualifications matching the needs of the company. Following multiple interviews, we placed a contracted CEO with monthly work progression from 10-20 hours per week.
After just two months as interim CEO, our candidate assessed the company needs, developed its business plan, and was offered full-time employment as CEO. He continues to successfully grow the business and turn to BiotechExec for additional help.
Our client, a company creating disruptive products for women’s health and infertility treatments, had already raised significant capital when they came to us. Our involvement was to assist with finalizing their business strategy and seeking FDA clearance.
While the company had raised significant friends & family funds, approaching sophisticated and institutional investors was proving challenging. The company needed help with their business plan, financial modelling and projections, and defining their market & exit strategies. The scientific and clinical founders needed an experienced business-minded CEO to move to through their next stage of growth, and beyond.
BiotechExec first entered into a consulting engagement for interim CFO and Business Development services. Considerable effort was placed on refining the business plan, identifying potential investors and working on the investment pitch. An interim CEO was selected to execute the new strategy and complete necessary fundraising and development milestones.
After refinement of the business plan and placement of a CEO, much of the funding round has now been completed. The company is submitting products for FDA clearance and is in development on a suite of other devices in the infertility treatment sector.
Our very own CEO & Founder, Russell Allen, will be on the panel at the @LaunchBio Event next week, discussing how to find and engage fractional executives to grow life science companies. For more information and to register, click below: