A client’s journey to >$30million financing

Mixed Results in Phase 2 Clinical Trial & Company ‘Reset’:

The company faced challenges with mixed results from their Phase II clinical trial, which required a detailed analysis to determine a path forward (if any). During the analysis phase the company undertook a complete company ‘reset’ including changing and implementing a new management team.

Financing Difficulties:

They battled a tough life sciences financing environment in 2022 -2023 and a number of rounds of negotiations which eventually led to a material debt and equity financing led by an external investor.

Complex Transaction:

The transaction was complex, involving a combination of debt and equity, cross-border elements, and the requirement to redraft the shareholders’ agreement and company’s constitution to accommodate new investors.

Data Room Preparation:

Ensuring the data room was available and up-to-date was crucial for progressing the transaction, efficiently and effectively.

A Bio101 team engaged with the company from company incorporation providing CFO, Company Secretary, and Transaction Advisory support.

Bio101 worked closely with the client’s Board throughout the company ‘reset’ while the Phase 2 results were being analysed by assisting with reducing cash burn, implementing a new management team and developing a compelling investment proposition to pitch to potential new investors.

The transaction required liaising and negotiating with investors, advisors, lawyers and the Board to complete legal documentation and establish Data Room to assist in the execution of the transaction.

These efforts were crucial in the transaction being executed and advancing the company towards Phase III clinical trial and commercialisation.