Challenge
Our client was a start-up looking to raise external venture capital funding for development of a biosensor for early detection of opioid overdose. The company had drafted a business plan with which to engage investors. Alacrita was asked to review and refine the business plan, with a particular emphasis on the target market, product value proposition, and market access plan.
Solution
Our consultant prioritized the target patient segments and settings of care for the device, framed the value proposition around the needs of key market stakeholders, and aligned these with the company's clinical development and market access plans. Our consultants brought direct experience in the commercialization of prescription opioids, deep knowledge of the opioid crisis and an expertise in developing and launching medical devices in the US market.
Our expert and investor network was able to sanity check further the plan for the device and its value proposition. The business plan review resulted in the client changing their clinical development and investment staging plans. Based on its importance to investors and payers, the client framed its clinical proof-of-concept plans around showing that the device could give an early enough warning to deliver on its value proposition.
Business Planning Services
Both external investors and internal sponsors in a business draw confidence from quality business planning and can tell whether a business plan or strategy is realistic. Our biotech-specific business consultants have launched, grown, and sold biopharma companies. They have successfully raised capital and advised investors and company boards about funding decisions. Let us help you consider all relevant strategic options for your business or your pipeline, analyze them thoroughly, and present a clear and well-reasoned case that your strategy is the right one.