Case study: Innovative solutions for Biotech funding
Client overview
Our client, a biotech start-up with a team of eight employees based in Switzerland, focuses on groundbreaking research in inflammation and immuno-oncology. As a discovery-stage company, they were at a critical juncture, needing seed funding to advance their programmes towards an Investigational New Drug (IND) submission.
The challenge
Despite their promising research, the start-up struggled to secure initial seed funding due to the economic crisis in Europe. Realising they needed strategic guidance, the company sought a board advisor who could provide direction and introduce them to various venture capital (VC) and private equity (PE) firms. However, their inability to offer immediate financial compensation made attracting top talent difficult.
Our solution
BioTalent’s engagement began in January 2023, leveraging an established relationship with the start-up’s Chief Scientific Officer (CSO) and Co-founder. We initiated a comprehensive discussion to understand the company’s financial needs, desired sources of financing, and the ideal profile for a board advisor.
- Market research and feedback: engaging with several industry professionals and acting board advisors, we gathered valuable insights into current market conditions and advisor expectations.
- Realistic approach: based on this feedback, we developed a strategy to make the advisor role more appealing despite the lack of immediate monetary compensation, highlighting the potential for long-term benefits and impact.
The results
- Process duration: 12 weeks from start to finish, accounting for holidays, conferences, and business trips
- Stages of hire: 5 stages, including interviews, pitch review, on-site visit, and contract negotiations
After defining the company’s needs and refining the advisor profile, BioTalent utilised its extensive network to identify three potential candidates with experience in seed funding and drug development in inflammation or immuno-oncology. The ideal candidate was selected after a thorough vetting process, with contract acceptance secured in May 2023.
“I am very happy with the candidate that Yasin suggested and all his help. All has gone very well so far and we are much more confident of securing our seed funding round.”
— CSO/Co-Founder
By partnering with BioTalent, the biotech start-up successfully navigated a challenging economic landscape, securing a strategic board advisor to guide them towards their funding and development goals.
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