BioTech company: when the right answer is "Don't do it"
An Investor Came Looking for Two Executives and Left with a Solution That Saved the Startup
CASE | LEADERSHIP SEARCH AND TEAM BUILDING
STRATEGIC HIRING
INTERIM TEAM
MARKET ANALYSIS
RISK MANAGEMENT
Context
Acquisition of a Biotechnology Startup
The investor had acquired a startup focused on building a biotechnology manufacturing business.
The project was at an advanced stage but in crisis. The project itself existed, the technology had been selected, and key partners had been identified. However, several key team members had decided to leave the company as a result of a shareholder conflict.
At first glance, the task seemed straightforward: find two key executives and launch the project.
Request 1
Chief Executive Officer
To lead the project from launch through to the operational stage.
Request 2
Chief Technology Officer
To oversee the technological implementation of the biotechnology manufacturing facility.
What the Investor Came to Us With
01 CLIENT REQUEST
What the Initial Analysis Revealed
02 MARKET ANALYSIS
The global market in this biotechnology segment was undergoing a structural transformation. Projects of this kind were taking significantly longer to implement than the investor had originally anticipated.
Global Market Conditions
01
The industry was shaped by powerful lobbying groups and vested interests. Regulatory constraints in key jurisdictions significantly narrowed the range of opportunities available to a new market entrant.
Regulatory and Industry Influence
02
The actual level of investment required to achieve the desired outcome could be substantially higher than the initial estimates. The risk of failure at later stages of the project could also be significant.
Investment Scale
03
Deep Validation Instead of Immediate Hiring
03 OUR SOLUTION
Three subject-matter experts with hands-on experience in this market:
*We recommended postponing the CEO hire and assembling an international interim team to validate the business case before making key leadership appointments.
Six leaders brought together to evaluate and develop the project:
A joint effort focused on three priorities:
Technology
Strategy
Commercial
Technical Lead
Commercial Lead
Finance Lead
Technology Lead
Scientific Lead
HR Lead
Updating the business case
Engaging with customers, suppliers, and strategic partners
The standard approach is simple: the client asks for a search, and the search begins. Recommending that a hiring process be paused often means walking away from immediate fees. Doing so requires a different level of partnership and trust.
A shortlist is more than a list of potential hires. Conversations with top candidates provide invaluable market intelligence: what is happening in the industry, where the real challenges are, and what is actually working.
A temporary team with the right expertise can create more value than a permanent CEO without it. In conditions of high uncertainty, flexibility can be more important than hierarchy. The cost of hiring a CEO —and potentially terminating that appointment if the assumptions proved wrong—would have been comparable to the investment required to build an interim team.