Reality check on a new biosensor technology

Challenge

A company considering an investment in a new early-stage biosensor technology for the measurement of blood pressure needed due diligence support. The product had a number of potential advantages over existing technologies, however, its business activity was not currently in the healthcare sector and therefore it wished to draw on external expertise to help with its due diligence of the technology and device.

Solution

We conducted diligence work on four areas relating to this technology:

  • market demand based on likely performance and cost
  • route to market including its sales plan
  • how sufficient the data was to convince regulators and potential partners of its future performance
  • whether the management team, advisors and non-executive directors were experienced enough

We formed an expert team, which included a consultant who had been a life science investor and made numerous investments in new early-stage companies, to address these four areas. The team suggested how to improve the business plan and highlighted areas where further data was required to convince the range of stakeholders that this was an investable technology.

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