We apply our deep domain and process expertise to provide unparalleled insight.
We have advised numerous companies directly or on behalf of investors as well as many PE and VC firms as part of their diligence process.
Our deep domain and process expertise enables us to provide unparalleled insight, support and service during every advisory engagement. In contrast to traditional consultants who simply produce reports, we not only perform comprehensive analysis and provide strategic recommendations, but also have the ability to roll up our sleeves and assist in execution.
Our professionals have extensive backgrounds running private and public companies and bring deep domain expertise to the table. We are experts at differentiating between perception and reality. Typically, the main decision facing investors and BOD members in complex situations is not only (a) what to do next, but also (b) how to do it. The Kirchner Group plays a key role in illuminating these options and can step in to help execute them if appropriate. Also unlike the approach typically taken by consultants, we don’t issue a report just based on what management told us — we apply our own operational experience and in-the-trenches perspective to separate the “wheat from the chaff”.
Our team consists of senior professionals who have been in your position before and understand how to dig deep, navigate all the angles and provide actual tangible value. Our advisory services and execution assistance is utilized in some cases as part of the preparatory work for a liquidity event.
We have refined our diagnostic/assessment process over the years to provide an objective and comprehensive view into our clients’ strengths and weaknesses as well as provide go-forward options. The identification and analysis of the merits of each go-forward option is a key differentiator for us from consultants who may purport to provide operational assessment-like services. This analysis allows stakeholders to meet their fiduciary responsibility and to make well-informed decisions about the Company’s future strategic direction.
We can also apply our deep domain expertise to provide deep scientific or technical reviews as part of investors diligence process. We have advised the lead investor on 4 of the largest ever Biotech financings and one of the largest PE financings of an Agtech company.
How we can help
We provide a variety of advisory services to individual companies, investors as well as portfolios including:
- independent third party assessment
- company/technology positioning
- transaction due diligence
- company formation and structure
- market entry and positioning
- key partnerships and licensing agreements
- global commercialization strategies
We also provide numerous other tailored advisory services. Each engagement is customized to the needs of the specific situation; thus, only services that are needed are provided.
For more information download our fact sheet.
Illustrative Transactions
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Juno Therapeutics
Background
- Diligence and advisory re: structure to major investor in largest Series A (at the time) in biotech history
- Involved combining IP from three globally renowned research institutions, forming a new company and subsequently in-licensing additional IP and acquiring other companies
- Initial therapeutic focus is on CAR Tcell immunotherapy for liquid cancers
- Two senior KG team members lead the project. One was a senior scientist in a comprehensive cancer center. The other was an internationally recognized expert on business structure and financing
Activities
- Diligence addressed eighteen areas and reviewed hundreds of articles on the science
- On-site discussions with key scientists, research institution management, prospective Newco management and prospective investors
- In-person and phone interviews with key scientific opinion leaders, scientists working in areas relevant to the technology, prospective board members and a variety of other knowledgeable individuals; such as a former member (presidential appointee) of the National Cancer Advisory Board.
Results
- A company was formed through the time’s largest Series A biotech raise.
- Kirchner was engaged on two subsequent occasions to provide services in support of a Series B raise again around the IPO.
- The offering had the second-fastest $1B IPO valuation ever (behind YouTube).
- The company was subsequently acquired by Celgene for $9B , then by Bristol-Myers Squibb for $74B.
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Medical Device Company
Background
- University spinout with sophisticated technology for difficult/inoperable brain tumors.
- Board was looking for: an assessment of operations and potential for the business; current and future resource requirements; key personnel; paths forward; and risks and returns for each path.
Activities
- Kirchner team included two members: one focusing primarily on the general business processes and finance and the other one on the science, technological processes and regulatory and reimbursement issues.
- All aspects of business assessed, including: general management processes; corporate culture; finance; product; technology development; manufacturing; inventory control; shipping and installation; marketing; sales; and regulatory affairs and reimbursement environment.
- Contacted and obtained feedback from key opinion leaders, existing users and prospective buyers.
Results
- Board chose to execute one of the paths articulated by Kirchner.
- Kirchner was initially asked to serve in an interim management role but a permanent candidate suitable to the board was identified before the engagement commenced.
- FDA approval for IDE received.
- Following the implementation of Kirchner’s recommendations, the company subsequently closed a $30M Series A financing round.
