A venture-funded company had developed an exciting new proprietary technology-intravascular coils that significantly enhanced MRI imaging and tracking. Despite its advanced technology, the Company had burned through 90% of its initial funding-over $20 million-and yet it had no agreement on strategic direction or product focus; lacked a viable business plan; and was hampered by weak management. The company's board retained SSB to provide interim management; define a new strategic direction; and raise new money.
SSB reduced the monthly burn rate from $300,000 to $30,000; defined a new strategic direction and product focus; selected a research partner; repaired significantly damaged relationships in the scientific and clinical communities; and conducted meetings with a number of potential investors, ultimately securing $4 million in new financing.
A $700 million publicly-traded medical services provider was interested in an early-stage stem cell therapeutic opportunity that, if successful, could dramatically improve outcomes in its area of clinical focus. One of the firm’s strategic partners had just initiated Phase I clinical trials using this innovative approach and had approached the company about a potential investment to support their efforts.
On behalf of its client, SSB analyzed the current state of the prospective partner’s development efforts, their proposed go-to-market strategy, anticipated financial needs and competing research efforts in the same field. Based on its analysis, SSB recommended a "go slow" strategy, working to keep the discussions going, provide limited support in selected areas of need and otherwise stay close to critical developments in the field.
A multi-billion dollar electronics manufacturer with limited understanding of healthcare had a product development team exploring potential applications of its IP and technology in point-of-care diagnostic testing. The team had met with some success in developing several strategic relationships with significant potential.
The company retained SSB to present a strategic overview of the POC test market, evaluate the teams efforts to date, and recommend how best to move forward. While the client had an initial bias towards folding the product group into a new company with outside investors, after SSB’s analysis, the board and management decided to incubate the group further based a number of strategic factors and opportunities that could boost significantly their potential valuation as an independent entity.
