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Who is the Patient? 4
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Section1.1
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Section1.2
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Section1.3
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Section1.4
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Standard of Care & Competition 4
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Section2.1
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Section2.2
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Section2.3
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Section2.4
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Business Model 4
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Section3.1
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Section3.2
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Section3.3
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Section3.4
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Regulatory 4
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Section4.1
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Section4.2
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Section4.3
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Section4.4
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Exit/End Goal 4
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Section5.1
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Section5.2
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Section5.3
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Section5.4
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Introduction
Beginning with the end in mind is always good practice, but it doesn’t have to be slavish; building exit options, including the option not to exit (and to continue operating the business) is good business. Careful planning and execution are required to maximize value capture. Even with a successful therapeutic development in process (or over the finish line), the difference between a base hit and a home run here can be measured in orders of magnitude. We specifically exclude IPOs here as while they do produce liquidity, we believe they should primarily be viewed as a fundraising tactic, not an exit per se.
Resources
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Trade Sales