Support of a Secondary Fundraising Program

Situation

A developing medical device company was in need of further financing to enable the commercialization of their highly innovative technology which was about to be granted its first approval for European markets and to fund completion of a U.S. regulatory filing. Existing investors were unwilling to provide additional funding and were pressing the company to search for and successfully complete a new funding round with a new investor.

Results

BDF and its affiliated company Sibelius surfaced several possible new investors for the client. BDF prepared briefing and presentation materials that established a compelling logic for the success of the new device which were designed to be used during the meeting with target investors. BDF and Sibelius organized the meetings, attended the investor meetings along with the senior management of the client company and facilitated the creation of an investment dossier to provide all the necessary information for the new investor to reach a positive investment decision. BDF provided support for the client in evaluation of the initial investment offer by the investor and assisted in the negotiation of final terms. The program resulted in a new investor provided the funding for the ongoing efforts and, due to the compelling investment materials created by BDF, convinced the existing investors to provide additional funds that increased their equity position in the company.