Therapeutic start-up from corporate license to exit
A Boston area biotech company made the business decision to focus on development projects and to cease pre-clinical research operations. NEPA principals proposed a spin out of the full drug discovery portfolio into a new start-up.
Over a 3 year period, the NEPA start-up team developed one program to late lead optimization stage and began lead optimization on a second project. Business development efforts explored numerous opportunities for financing through partnering or private investment or by sale of the company/assets. The team began discussions with an Australia based biotech company looking to expand its drug discovery portfolio. This start-up’s drug discovery assets were sold to Australians in a deal comprising upfront cash and stock payments and substantial future success-based milestones.