There is inherent value in early science or platform technology that promises to generate multiple clinical programmes, often targeting a range of opportunities from large patient groups with an established standard of care, to orphan populations with high unmet need. The decision to enter the clinic – with which asset, for which indication, at which doses to ultimately treat which patients – is of paramount importance as cash burn and risk increase exponentially.

Strategic vision needs to envisage the product through to market, not just to an exit or partnering event mid-stage, to drive increasingly upward valuation and create leverage and optionality for the company. Key considerations & questions include:

  • Which disease(s) do you choose as your first target?
  • What are subsequent indications, and when is enough, enough (i.e., unfocused deployment of capital)?
  • What factors drive these decisions (e.g., strength of biological rationale/competitive differentiation; target product profile, trial duration/ time to value inflection, size of patient population/expected commercial spend, competitive development and commercial landscape)?
  • Does your choice de-risk the programme from a scientific, clinical/regulatory, and commercial perspective and provide compelling commercial opportunity?

Cello Health works with many emerging biotech companies to prioritise pipeline portfolios and define pathways to value inflection. Often, these programmes are at pre-clinical to early clinical development (Phase I-Phase 2a) so our advice contributes to shaping the early development programme, maximising the fruitful deployment of costly capital and the potential for clinical and commercial success. Output typically includes a definition of therapeutic strategy and best transaction model going forward.

“Thank you for sending the final deliverable…The data are so rich – we will likely be browsing through that trove for some time. Thank you, once again, for accommodating a tight timeline at the onset of the project…. Looking forward to next engagements!”

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