Case study:
Strategic Due Diligence Support for Viral Vector Manufacturing Acquisition
Background:
The Client: A UK-US private equity-investment bank consortium
The Target: An EU-based viral vector manufacturing company with non-GMP / development (CDMO) and GMP manufacturing plants for commercial
Supply capabilities at separate locations.
The Project: To undertake detailed technical and commercial due diligence to facilitate decision-making
Boyds approach
In discussion with the client, the scope of and timescale for the work were agreed. A multidisciplinary team from Boyds was formed to undertake the project in two phases. Phase 1 involved desktop research based upon documents provided by the client, and information within the public domain; in-person visits to two separate manufacturing sites in Europe and F2F interviews with two key ex-employees (Head of R&D and Northern European Sales Manager).
The Boyds team prepared a red flag report for the client detailing the target company’s technical capabilities, including: their platform technology, QA/QC systems, regulatory expertise, IP, business development capability, and client list (book of business). Phase 2 of the project involved a competitor analysis, to explore the target company’s standing vs. its current and likely future competitors, and a gap analysis to identify what the target company would need to do, technically and commercially, to achieve a leadership position in the market.
Impact and Outcomes
Our reports to the client provided a comprehensive evaluation of the status of the target company from a technical and commercial standpoint and their strengths and weaknesses vis-a-vis their competitors, which enabled our client to make a fully informed decision concerning acquiring the company and how their manufacturing facilities and operations, and their business strategy would need to be revised to compete in the viral vector market over the coming decade.