When a biotech or biopharma’s flagship asset is ready for out-licensing, which strategies will get it noticed by the right partners? To gain the attention of larger players, companies need to present clear evidence of their asset’s efficacy and market potential, along with a realistic understanding of the types of deals they can secure.

Leveraging an existing network can help, but it only goes so far. With many companies potentially interested, how you identify the best partners? A data-driven dealmaking approach, grounded in objective metrics rather than intuition, ensures limited outreach resources are used effectively.
In our new on-demand webinar, my colleague Ben Folwell and I talk through the key steps to identify and approach potential licencing partners. There’s much more detail in the session, but here is a quick summary.

1. 1. 1. Cast a wide net: You need to start by creating a long list of potential partners using specific evaluation criteria such as company size, geographic location, therapeutic area strengths, modality, and financial position. Your goal is to explore all avenues and generate a list of companies that might have an interest in the asset.
      2. Narrow the list based on key metrics: Apply more targeted criteria to refine your list. Consider prioritising potential partners based on factors such as their strengths in therapeutic areas, development strategies, financial health, and likelihood of partnering. It’s also useful to consider geographic strengths and commercial focus at this stage.
      3. Compare strengths and weaknesses: It may be useful to employ an Excel-based tool to adjust the weightings of key metrics and produce a prioritised shortlist. This allows for a quantitative analysis where you compare each company’s strengths and weaknesses. From a long list of hundreds, by now you should be down to a targeted list of 50-100 companies for outreach.
      4. Identify key contacts: At this stage, it’s important to identify the right individuals within target companies. Relevant titles may include Business Development, Corporate Development, Search and Evaluation, Licencing, Collaboration, Alliance Management or C-suite executives at smaller companies. For larger pharma companies, it’s vital that you target the correct business development team by therapy area.
      5. Perfect the pitch deck: The pitch deck is crucial in capturing the interest of potential partners. It should be well-organised with a logical flow, providing essential information without overwhelming the audience. Try to strike a balance between enough background information to support key points and reserving deeper details for follow-up discussions. A confidential pitch deck can be prepared for more in-depth conversations.
      6. Take a personalised, iterative approach: When reaching out to potential partners, tailor communications to each company to demonstrate an understanding of their areas of focus. It’s also useful to design the pitch deck with a range of expertise in mind, keeping key points accessible for non-scientific gatekeepers while preparing more detailed data for scientific due diligence teams.

Successfully out-licencing a biotech asset calls for a data-driven, adaptive approach. By focusing on personalisation, tailored communication, and continuous improvement based on feedback, you can optimise your chances of success.

For more insights, watch our on-demand dealmaking webinar, Out-Licencing Lessons: How to Put Your Best Foot Forward, available here. Or to find out more about how Evaluate’s consultants can help you to find the right partner for your top assets, get in touch with our team.