Supporting Fundraising & GtM Strategy with Data-Driven Analysis at Every Step
Introduction
After 20 years of investment banking, Peter Pilavachi partnered with two others in early 2020 to start a new MedTech fund. Inspired by COVID-19 medical innovation and untapped opportunities in the market, Picard Angst wanted to position themselves as true experts in MedTech science and help emerging solutions find success.
The Need
When Picard Angst first connected with Toxeos, it was for support with their due diligence. The firm needed sector expertise and research to understand, beyond a banker’s valuation of a company, where true opportunities presented themselves.
Picard Angst had access to a spectacular set of assets – but, as Pilavachi says, “without the right funding, the best idea is completely irrelevant.”
Picard Angst needed to understand global product-market fit, gaps in competitor offerings, and identify key physicians and hospitals for therapy and product adoption before getting involved. Plus, all due diligence had to be done during the R&D phase while these companies’ devices were still in development and hadn’t yet been approved by the FDA.
The Solution
As Picard Angst helps emerging MedTech companies raise capital, go to market, and eventually have an exit, Toxeos is able to provide critical research and analysis across every stage of the product journey. “Growth support, identifying the right potential physicians and hospitals, Toxeos really does it all,” said Pilvachi.
Beginning with in-depth landscape analysis, Picard Angst has been able to learn which other companies are developing a similar product and how their investments can be focused to outperform the existing market through production optimization, and IP analysis. Toxeos research can also tap into the physician landscape to understand what benefits doctors will be most interested in accessing and how to further differentiate their IP.
“This data is available, but you need to be a specialist to get it,” explains Pilavachi. “Sales trends in different markets, where products are approved, where not, the reimbursement pathways in different markets, future sales projections, and various pricing models. Toxeos helps us with it all.”
In addition to their core services, the Toxeos team was also able to connect the firm with key players in the MedTech space.
“At the end of the day, if there’s an awesome investment opportunity with great data and you have the capacity to run an analysis on it, that’s what matters,” says Pilavachi.
The Result
Since first partnering, Toxeos has been integral to the firm’s first MedTech investments. Everything from landscape analysis to product-market fit is backed by Toxeos’ ability to combine disconnected data to build insight. Not to mention that Picard Angst clients see access to Toxeos’ services as a benefit to partnering with the firm.
“You can imagine that if Toxeos can help one of our companies, get a mandate to help them analyse the data about a specific market in general, that can add great value to the companies as well, to the companies we’re invested in,” explains Pilavachi.
These early organizations want to make sure that they have the right assumptions about sales, potential price, volumes, and more in different markets, setting companies and investors up for success. “We don’t want them to be misled or to work on wrong analysis. Ultimately, we want to make exits to strategic investors easier,” says Pilavachi.