Valuing an Early-Stage Asset in Pharma and Biotech

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In 2018, Trinity Life Sciences published a white paper titled, How to Approach Asset Valuation in Pharma & Biotech: Putting a price tag on emerging therapies. At the time, pharma and biotech firms were seeing venture investment growth of ~20% per year. This trend has only accelerated alongside the value of co-developments, partnerships, joint ventures, licensing agreements and other deals nearly doubling from 2019 to 2020. Quantifying the value of underlying assets throughout the clinical development process remains vital to ensuring continued collaboration in pharma and biotech.

Since first publishing in 2018, Trinity has continued to be at the forefront of valuing next-generation therapeutics such as CAR-T platforms, T-Cell Engagers, and Gene Therapy. Trinity feels strongly that in order for companies to succeed in bringing these complex therapies to market a new approach is needed in understanding and evaluating the commercial model. Such insights empower and enable companies to take control of their financial future by having a deeper sense of their value to maximize funding. In this white paper, we explore the increased nuance required to develop a pre-clinical valuation in a small-cap firm.

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