Creating a Novel Biotechnology Company
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Situation. Researchers at a leading cancer center wished to commercialize technology they had developed for clinical diagnostics and drug discovery. C3 was engaged by the entrepreneurs and a private equity investor to lead the establishment of this biotechnology startup in terms of strategy, funding, operations and management.
Actions. Created a business plan and financing strategy for the entrepreneurs. C3 principals acted in full capacity as interim CEO and CFO of the startup: negotiated the licensing of patents from the research institute, established the capitalization plan, created the legal entity, oversaw the patent strategy, negotiated strategic alliances and led the venture funding initiative.
Results. Successful establishment of biotech enterprise with initial funding and licensing revenues. Subsequent issuing of drug patent led to sale opportunity to a pharmaceutical company. Total return to entrepreneurs/investors of 165x within 21 months.
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