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| Category Creation & Ultimate Liquidity |
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Company profile at time of engagement:
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Software company whose product suite accelerates clinical trials in the drug development process |
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Market – biopharmaceutical and pharmaceutical industries |
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Valuation at time of engagement - $10 million |
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Unlike other proprietary products, the software suite is developed entirely on the Microsoft platform. |
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Having recently come out of an exclusive agreement with a prominent pharmaceutical company, the Company needed to define its go-forward business model strategy, as well as sales and marketing efforts. The existing sales process resulted in extended sales cycles that adversely affected the company’s revenues.
The Company was considering several business model alternatives for delivering its software. Product offering models in the sector varied from licensing, to ASPs, to outsourcing, and other service models. |
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Develop a focused go-to-market strategy |
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Generate a growing and profitable reoccurring revenue stream |
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Lay a strong foundation for a future liquidity event |
The 3SIX0 Advisors process was applied to understand the end-to-end business and workflow needs of the clinical trials process, the complex heterogeneous IT environments, disparate combinations of point applications, the clinical trials ecosystem of users, multiple vendors, contract research organizations, other service providers, and the FDA.
Our process uncovered vulnerabilities in the two major clinical software competitors that the Company could exploit with its Microsoft-based software suite. |
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| 3SIX0 Advisors provided the company with the following deliverables: |
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Formulated and articulated a compelling value proposition |
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Created and positioned the Company in a new market category |
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Developed a comprehensive go-to-market strategy designed to accelerate adoption in large and midsize pharmaceutical and biopharmaceutical companies that included: |
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a modular software offering |
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aggressive partnering programs |
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an ASP delivery model and a target account strategy |
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Authored an investor presentation which supported the Company position for an ultimate liquidity event. |
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Initial Investment in 3SIX0 Advisors - $176,751 |
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Company valuation at time of engagement - $10 million |
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Company valuation at conclusion of engagement - $17 million |
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Rapid $3 million capital raise for post money valuation of $20 million |
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Sales price to strategic buyer within 14 months of launching new strategy - $68.5 million |
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Timeframe - 14 months |
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| Return on initial investment - $58.5 million/$176,751 = 330.97 X |
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| Company names and references available upon request. |
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