Case Study
Project Overview
As a proud provider in the EIC Service Catalogue, inXso is dedicated to supporting EIC Awardees and Seal of Excellence Holders in their venture building in the healthcare sector.
Our supported EIC Awardees are bringing their latest scientific research to patient care, encompassing new drug candidates to treat severe illnesses, cutting-edge medical technology, in vitro diagnostic solutions for the treatment of difficult-to-treat diseases, and holistic therapeutic solutions for patient care.
Client Needs
The EIC Awardees and Seal of Excellence Holders were in need of optimising the type and business model of the company to be established, including how to improve the financial model and cost structure, ensuring they accurately reflected the specific requirements and revenue projections of the project and ultimately attracting investor confidence.
To enhance the financial model the clients needed scenarios for additional development paths including clinical trials, providing a rationale for allocating resources across multiple categories, thereby demonstrating an efficient and strategic use of funds.
By presenting well-supported resource allocation strategies, the clients could illustrate their commitment to maximising investment returns and addressing potential risks in the project’s development.
Client Challenges
The overall cost structure for R&D, manufacturing, and operational expenses is complex to accurately estimate according to industry standards.
The decision on company type and business models must be based on a thorough analysis of relevant deal structures and revenue models appropriate to the product and/or service offering.
Expanding the financial model to include additional development scenarios requires considering estimated potential market sizes and revenue projections alongside R&D expenses.
Integrating industry validation into the financial projections requires analysing successful R&D outcomes and understanding market demand and potential partnerships.
Project Initiation & Key Objectives
The EIC Awardees and Seal of Excellence Holders decided to leverage inXso’s extensive expertise in the healthcare sector to thoroughly validate their business venture and prepare it for successful entry into international markets.
The project scopes included:
- Cost Structure Formulation: A comprehensive analysis to outline the various costs associated with the business, including operational expenses, research and development (R&D) costs, manufacturing expenditures, and regulatory compliance fees, aiming to provide a clear financial overview necessary for strategic decision-making.
- Development Scenarios: A thorough exploration of additional development scenarios involving clinical trials, and an assessment of potential locations for these trials, specifically focusing on those that would facilitate agile market access for multiple location from regulatory aspect, including uncovering financial benefits associated with each potential location to maximise return on investment.
- Timelines and Milestones: Establishing expected timelines for each phase of the project, along with identification of key milestones, and their associated costs to create a structured financial timeline that would guide the project’s progression and ensure accountability.
- Company Valuation and Asset Evaluation: A thorough evaluation of the existing scientific and technological assets and overall valuation for determining the company type and identifying the most appropriate business models and deal structures to align with strategic goals.
- Market Demand and Partnerships: n in-depth analysis of the products and/or services market demandacross major European target markets, the United States, and the Asia-Pacific region, examining current and future trends and competitive landscape, including exploring potential partnerships to enhace market entry and expansion strategies.
inXso Approach
InXso is dedicated to providing comprehensive support to EIC Awardees and Seal of Excellence Holders as they pursue their venture-building aspirations. Our approach focuses on co-creating and co-designing a unique support system that includes individualized training and coaching tailored specifically to the evolving needs and dynamics of each team.
From the outset, InXso emphasizes active engagement with EIC Awardees and Seal of Excellence Holders. This begins with a thorough assessment of their current Technological Readiness Level (TRL), a measure of the maturity of their technology. We also analyze the results of their research and development efforts, evaluate their financial planning, and clarify their strategic goals.
Through this collaborative process, we aim to develop a well-defined and applicable roadmap for venture building and development. This roadmap will include step-by-step guidance and detailed financial modeling to help ensure that our clients are well-equipped to navigate the complexities of bringing their innovative solutions to market. Our ultimate objective is to empower these teams with the necessary tools and strategies to transform their ideas into successful ventures.
inXso Solution
InXso’s key activities for EIC Awardees and Seal of Excellence Holders encompassed a comprehensive range of evaluations and analyses aimed at enhancing project viability and market potential. The activities included the following:
- A thorough assessment of the current Technological Readiness Level (TRL) of each project, involving a detailed review of the research and development plans, including clinical trial strategies to identify critical areas for improvement and provide recommendations to advance projects to the next TRL stage.
- Evaluation of the project’s cost structure, projecting potential revenue streams alongside detailed financial planning with available grants and investments, ensuring that projects are not only technologically feasible but also financially sustainable in the long run.
- An in-depth examination of the scientific and technological assets associated with each project, including assessing their valuation and exploring various deal structures, and identifying the most appropriate types of companies and business models that align with the project’s objectives and market potential, ensuring that each proposal is tailored to attract the right partnerships and investment.
- A comprehensive analysis of current market demands, identifying specific unmet needs within the healthcare sector to outline additional development scenarios that could enhance the project’s relevance and impact, ultimately aiming to address critical gaps in healthcare delivery.
- InXso actively engaged with suppliers, subcontractors, and manufacturers to gather the most up-to-date information to establish realistic timelines and identify key milestones, along with forecasting associated expenses. By collaborating with industry stakeholders, InXso ensured that projects are well-equipped for successful implementation and scaling.
Through these enhanced evaluations, InXso empowered EIC Awardees and Seal of Excellence Holders to optimise their projects and maximise their chances of success in the competitive landscape of healthcare innovation.
- Capability Development 100%
- Timeline and Budget Commitment 97%
- Value Creation 100%
- Flexibility to Fast Changing Situations 100%
- Client Satisfaction 100%
Project Achievements
The tangible benefits for EIC Awardees and Seal of Excellence Holders resulting from our support include:
- A detailed categorisation of all expenses in the financial model, including historical data, industry standards, or quotes from suppliers and service providers.
- Identification of the most suitable business models and company types with their relevant deal structures through asset creation and valuation.
- A revised clinical trial plan with accelerated R&D scenarios for the next phase, including financial benefits associated with the chosen location and regulatory aspects.
- A detailled plan for additional development scenarios to address unmet needs in the healthcare sector.
- Documentation of the expected timeline for clinical trials, including key milestones and their associated costs, to provide a clear roadmap for investors.
Outcomes for the Client
A comprehensive understanding of the expenses and resources required for the venture to achieve the next milestone.
An understanding of how to utilise scientific and technological assets to increase venture valuation and attract investor confidence.
Recognition of the unmet need in the healthcare sector in light of market demand to explore additional development scenarios.
A robust understanding of their venture’s potential and optimise their strategy for entering the international healthcare market.
Engage
Get in touch with us to discuss your project needs by reaching out to [email protected] or simply sending us a message using the form beside.