Beyond Advisory

Beyond
Advisory

Treehill Partners

Focused on Transactions and Transitions in Healthcare

International strategic and financial advisory focused exclusively on healthcare. Hand-picked team of successful senior professionals.
Diverse backgrounds accross banking & finance, strategic consulting and leadership roles in industry

What We Do

Value maximization
at each point along the value creation life cycle
Value maximization at each point along the value creation life cycle

Identify

We leverage our extensive network and access to identify novel transaction opportunities, unlock asset portfolios, as well as facilitate proprietary approaches.

Screen

Deep hands-on expertise and experience, deployed to deliver rapid actionable feedback that supports go/no-go decisions early.

Acquisition & Investment Phase

Review

Detailed technical capabilities, put to work towards insightful diligence and feasibility analysis.

Excecute

Experienced senior team, executing flawlessly whilst predicting dynamics and surfacing any choke points.

Buy Side

Strategize

Holistic perspective, leveraged into value-maximizing strategies and actionable alternatives.

Implement

Leadership track record, deployed to support cohesive real-world implementation.

Ownership & Management

Monitor

Efficient proprietary tools, put to work to identify opportunities and surface gaps.

Adjust

Negotiation expertise, driving refocus of strategies and activities.

Plan

Understanding of both sides of the table, leveraged into defining the path towards an optimal transaction and devising of a value realization strategy.

Prepare

Deep transaction expertise, deployed to iron out critical success factors and establish consistency between asset base, sales messages, and transaction process.

Disposal & Divestment Phase

Approach

Commitment to detailed insight, put to work to understand the specific triggers per counterparty and individualized approaches.

Excecute

Experienced senior team, executing flawlessly whilst predicting dynamics and surfacing any choke points.

Sell-Side & Financing

Identify

We leverage our extensive network and access to identify novel transaction opportunities, unlock asset portfolios, as well as facilitate proprietary approaches.

Screen

Deep hands-on expertise and experience, deployed to deliver rapid actionable feedback that supports go/no-go decisions early.

Acquisition & Investment Phase

Review

Detailed technical capabilities, put to work towards insightful diligence and feasibility analysis.

Excecute

Experienced senior team, executing flawlessly whilst predicting dynamics and surfacing any choke points.

Buy Side

Strategize

Holistic perspective, leveraged into value-maximizing strategies and actionable alternatives.

Implement

Leadership track record, deployed to support cohesive real-world implementation.

Ownership & Management

Monitor

Efficient proprietary tools, put to work to identify opportunities and surface gaps.

Adjust

Negotiation expertise, driving refocus of strategies and activities.

Plan

Understanding of both sides of the table, leveraged into defining the path towards an optimal transaction and devising of a value realization strategy.

Prepare

Deep transaction expertise, deployed to iron out critical success factors and establish consistency between asset base, sales messages, and transaction process.

Disposal & Divestment Phase

Approach

Commitment to detailed insight, put to work to understand the specific triggers per counterparty and individualized approaches.

Excecute

Experienced senior team, executing flawlessly whilst predicting dynamics and surfacing any choke points.

Sell-Side & Financing

Unique Edge

Enabled by the seniority and pedigree of our team
we answer the most intricate questions

What is the Situation?

Independent
Assessment

Where to go from here?

Understand and
Increase Optionality

How will things play out?

Inform Today’s
Decision Making

What Clients
Say About Us

US Pharma C-suite “Had a great experience with this team back at Blackstone. At Treehill, they had an even more personalized approach and could really engage on the objectives that were important to me”
US Biotech CSO “It is rare to come across a transaction advisory firm with the depth of scientific and medical knowledge Treehill has”
US Biotech CEO “With the opportunity to pivot into Covid-19, Treehill got involved to write our clinical protocol, prepared us for a multi-agency TechWatch meeting and supported all efforts to submit the IND”
US CRO C-suite “Their depth of insight made Treehill the by far the most suitable sell-side team that we interviewed”
EU Biotech CEO “Their familiarity with the large caps enabled our team to gain confidence to reach for goals beyond expectations. Formidable negotiators”
EU Medtech CBO “It is very different being advised by people who know exactly what you are going through”
EU VC “Treehill was focused on identifying the solution to address our objectives from day 1”
EU Pharma BD “As comfortable dealing with scientific, medical and regulatory matters as they are with transaction structuring”
US Biotech CEO “As a first time CEO it was invaluable to have access to their many decades of CEO decision making experience. I was glad to have Treehill in my corner”
US Private Equity “Really straight talking, honest and focused. If you want direct answers these are the right team”
EU Pharma Corp.Dev. “Treehill got on top of the situation immediately, clearly identifying the key issues and outlining the roadmap for us to follow together”
EU Medtech COO “Despite their seniority and broad experiences, the Treehill team were easy to talk to and integrated with our team very easily”
US Biotech CBO “Treehill brought to the table a well-coordinated and motivated team of complimentary capabilities to support our path towards success”
US Biotech CEO “Treehill’s ability to advise on the large-cap to small-cap dynamic was uniquely helpful to us during this crucial transition”
EU Biotech CEO “Treehill complemented our negotiation team with a fair perspective but challenging us to be more courageous when needed”

What Clients
Say About Us

US Pharma C-suite “Had a great experience with this team back at Blackstone. At Treehill, they had an even more personalized approach and could really engage on the objectives that were important to me”
US Biotech CSO “It is rare to come across a transaction advisory firm with the depth of scientific and medical knowledge Treehill has”
US Biotech CSO “It is rare to come across a transaction advisory firm with the depth of scientific and medical knowledge Treehill has”
US Biotech CEO “With the opportunity to pivot into Covid-19, Treehill got involved to write our clinical protocol, prepared us for a multi-agency TechWatch meeting and supported all efforts to submit the IND”
US CRO C-suite “Their depth of insight made Treehill the by far the most suitable sell-side team that we interviewed”
EU Biotech CEO “Their familiarity with the large caps enabled our team to gain confidence to reach for goals beyond expectations. Formidable negotiators”
EU Medtech CBO “It is very different being advised by people who know exactly what you are going through”
EU VC “Treehill was focused on identifying the solution to address our objectives from day 1”
EU Pharma BD “As comfortable dealing with scientific, medical and regulatory matters as they are with transaction structuring”
US Biotech CEO “As a first time CEO it was invaluable to have access to their many decades of CEO decision making experience. I was glad to have Treehill in my corner”
US Private Equity “Really straight talking, honest and focused. If you want direct answers these are the right team”
EU Pharma Corp.Dev. “Treehill got on top of the situation immediately, clearly identifying the key issues and outlining the roadmap for us to follow together”
EU Medtech COO “Despite their seniority and broad experiences, the Treehill team were easy to talk to and integrated with our team very easily”
US Biotech CBO “Treehill brought to the table a well-coordinated and motivated team of complimentary capabilities to support our path towards success”
US Biotech CEO “Treehill’s ability to advise on the large-cap to small-cap dynamic was uniquely helpful to us during this crucial transition”
EU Biotech CEO “Treehill complemented our negotiation team with a fair perspective but challenging us to be more courageous when needed”

Case Studies

Edit

Client Situation

  • Oncology focused, early-clinical EU biotech

  • First to clinically overcome tox problems previously associated with targeted  pathway

  • Successfully raised a total of  $50m privately

  • $30m spent, $20m remaining

Treehill Mission

  • Understand hurdles from an investor’s perspective to raising capital

  • Establish certainty about most financeable corporate & product development strategy forward

  • Support management & board decisions to change the company’s trajectory

Findings

  • World-class preclinical and phase 1 data package, in line with a large pharma buyer’s expectations

  • Not ready for phase 2. Lack of patient identification capabilities, high risk of failure

  • Shareholder base and pool of capital not suitable to support next development stage

  • EU-centric operations, not internalized into US or Asian hot-spot communities/ centers of excellence

Recommendations & Implementation

  • Strong fundamentals underscore significant value creation potential

  • Don’t start phase 2. Expand phase 1b. Augment biomarker capabilities, understand response drivers

  • Devise integrated product development and capital raising plan. Build storyline to near-term IPO

  • Broaden geographic coverage into US to further access to expertise, relationships, and capital
Edit

Client Situation

  • Global pharmaceutical major

  • Market-leading, profitable, growing asset non- synergistic with remainder of the group’s businesses

  • Existing regional partnerships, some lagging performance

  • Desire to dispose of certain geographies entirely

Treehill Mission

  • Initial "simple ask" to oversee transaction with one of the existing partners

Findings

  • Existing partners were no viable buyers due to competitive situation along supply chain

  • Significant upside opportunities identified but no plan to harvest and not factored into divestment considerations

  • Corporate memory on asset erased, team had been let go





Recommendations & Implementation

  • Re-instated prior team and corporate memory on the asset

  • Comprehensive reverse diligence across supply chain, regulatory, sales & marketing, financial, etc.

  • Creation of business plan and transaction materials for marketing as well as diligence

  • Developed alternative strategic pathways, including a “hold and build” scenario – which was the CEO’s concluding choice

  • Disposed 4 years later after implementation of growth, at a multiple of value
Edit

Client Situation

  • US listed oncology biotech

  • Platform technology with programs from late clinical to preclinical

  • Market cap from $1bn to $100m to $10m

  • Three CEOs in four years

Treehill Mission

  • Comprehensive plan to ascertain viability

  • Optimize capital allocation

  • Drive large pharma engagement
  • Findings

    • Phase III program non-viable; largest value in early-stage programs

    • Silos of scientific and business teams not integrated into cohesive strategic effort

    • Capital markets communication not in sync with pipeline prospects

    Recommendations & Implementation

    • Abandon late-stage program; freeing up resources for follow-ons

    • Focused partnering campaign for mid-stage program; re-setting perception and yielding a significant partnership commitment

    • Value creation trajectory plan for early-stage pipeline, fuelling equity story

    Edit

    Client Situation

    • EU pharma family office with broad venture portfolio

    • Some assets close to value inflection points

    • Significant capital deployed across portfolio

    • $30m spent, $20m remaining

    Treehill Mission

    • Portfolio review focused on transactability of most mature assets

    • Strategic plan to resolve gaps before transaction processes

    • Support management & board decisions to change the company’s trajectory

    Findings

    • Mostly excellent science, clearly differentiated

    • Competitiveness of target product profiles limited; implications for exit structure and process

    • Several key gaps in bidder package

    Recommendations & Implementation

    • Value realization strategy and tactical plans

    • Pathways to resolve regulatory, CMC and pricing gaps as relevant to the respective businesses

    • Several transactions since materialized

    News & Views

    Biopharma Partnering: Striking a Deal with Big Pharma

    As what used to be healthcare’s busiest meetings week is going to be a week of virtual interaction around the globe, we thought it worthwhile to share a few considerations on partnering between biotech and large pharma from the perspective of the developing biotech…

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    Biopharma Partnering: IPOs and Partnering

    An initial Public Offering has for decades been the endgame for an aspiring biotech company. Thinking back just 10 years, an IPO was conceivable generally only once a company had successfully brought at least one lead therapeutic into late-stage clinical trials and the pipeline was robust. Today this has changed…

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    Biopharma Partnering: When To Partner

    In late spring when apple trees are filled with young fruits, the best way to ensure a healthy harvest in autumn is to thin out the fruits, which in turn strengthens the tree and helps the remaining fruits grow and ripen.In late spring when apple trees are filled with young fruits, the best way to ensure a healthy harvest in autumn is to thin out the fruits, which in turn strengthens the tree and helps the remaining fruits grow and ripen.While the gardener knows that the autumn harvest will be stronger for doing it, the thinning out process is painful every time…

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