New England PharmAssociates

Excellence in life sciences asset development

Case Studies

Therapeutic start-up from corporate license to exit

Engagement:
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.

Accomplishments:

  • Negotiated terms for licensing drug discovery portfolio
  • Submitted SBIR grant applications to support the two most advanced projects – 2 phase I Advanced Technology NIAID grants were funded for a total of $1.3 million
  • White paper for inaugural US BioShield Program Grant resulted in a RO1 grant application that was funded -$1.5 million
  • Staffed the semi-virtual operation: 1 executive FTE, 2 research FTEs, 2 part time executives, advisors, consultants and CROs
  • Filed 5 patent applications on new inventions for two projects
  • Established business development strategy for financing the company to next steps by private investment and/or corporate partnership
  • Conclusions:
    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.