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