Assessment of novel vaccine technology triggers further investment
The client was a large multi-national fund, who has part ownership of a small biotech with a novel platform technology. The target company with whom they wanted to engage with was a European-based biotech company who were developing a novel technology platform to facilitate the rapid development of room-temperature stable therapeutic and prophylactic vaccines. The team at Boyds was asked to undertake a rapid assessment to determine whether contractual development milestones had been achieved, in order to trigger further investment in the biotech.
The scope of work was agreed upon with the Client and the deadline for submission of Boyds’ due diligence report was set to be within two weeks of the project start date (defined as the Boyds team having access to the data room).
Impact and Outcomes
Based on the recommendation from the Boyds team that the necessary development milestones had been achieved, a further investment by the client was triggered.