Simplifying Complex Science into a Compelling Pitch
Therapeutics company seeks co-development partner
Case Details
Client Profile: Canadian research hospital spin-out company developing complex peptide-based anti-inflammatory receptor agonists for treatment of various indications
Client Need: Strategic partner, investment or exit
Result: Co-development deal with a publicly traded biotechnology company provided our client with undiluted capital, and additional development capabilities
The Challenge
The client was developing the next generation of medications to harness the body’s ability to defend against illness by modifying cellular response to disease. The lead asset had an extensive package of preclinical proof of concept data in various indications, but additional funding was required to conduct IND enabling studies and manufacture clinical trial supplies.
Prior to engaging Shadow Lake Group, the company had approximately 6 months cash runway remaining despite having spent significant focus on trying to partner the drug for several years. The company had also received a term sheet from a potential partner that was aware of their desperate situation, as a result the terms were extremely unattractive, and, if accepted, would result in dissolution of the company.
What Did Shadow Lake Do
Within 6 months of engagement, Shadow Lake Group secured a leading publicly-traded biotech company to enter a co-development deal.
The Result
The deal infused the company with non-dilutive capital and resulted in the recruitment of an experienced CEO and management team. As a result of this funding, the company has been able to successfully advance the asset into Phase 2 development.