Startup Success: Biotech Company
We were engaged to prepare and lodge an R&D application for a start-up biotech company that had made significant inroads in finding a cure for Dengue Fever, Breast Cancer and Avian Flu among others.
The funding received (approx. $1.94m over a 5 year period), assisted in transforming this company into an industry expert within the biotech field. The credibility derived from the clinical trials and commercialisation of the product attracted international investors and the company subsequently grew from small locally based operation into a global business that has a presence throughout Asia, USA, India and New Zealand.
Within our scope we provided a detailed R&D plan, identifying the various projects and core activities undertaken during the year. Working with the key leaders of the company, we also assisted with a business plan that also included commercialisation advice, budgets and cashflows and information memorandum.
The key objectives were summarised in our timeline which provided accountability and guidance to all parties:
|Year 1||Years 2-3||Year 4||Year 5|
|Identify all projects and develop a compliant R&D plan||Carry out research, document findings, complete clinical trials||Commercialise the product (sell to local market)||Complete Investment Memorandum, approach investors|
By the completion of year 3, the business had registered patents over its findings and we were working with their legal team to transfer the I.P. (Intellectual Property) to another entity within the group as part of a corporate restructure. Investment interest from overseas quickly followed and as a result, a permanent presence in Singapore was established.
The company has continued to grow and is now playing a key part in the fight against Covid-19 and further developing immunity boosting products.