Context
A mid-cap ASX-listed biotech had completed Phase I clinical trials and was preparing a global roadshow to explore acquisition or licensing opportunities.
As a pre-revenue, single-asset company, most of its enterprise value sat in the underlying IP, and management needed to understand both current value and the upside if future trials succeeded.
What we did
- Assessed the strength and commercial potential of the core IP using the IIP Rating framework
- Developed an indicative valuation of the asset under its current development status
- Conducted scenario valuations assuming successful progression through later clinical phases with varying efficacy and peak sales outcomes
Impact
The analysis clarified the relationship between current IP value and market capitalisation, and quantified upside and downside scenarios to support board discussions and exit strategy planning.