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Tips for Biz-Dev Teams

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Tips for Biz-Dev Teams

Jeff Christiansen shares a heads-up post for biz-dev teams.

Biotech biz-dev teams look out ➡ 

Your revolutionary tech sparks Big Pharma’s interest but what moves can you make in advance to better position yourself for a deal? 

1️⃣ Re-think your sequencing. Identify your A-list partners and your B-list partners. Approach your A-list last: warm up with your B-list first.  Why? Your B-list can be your warm-up and your source of advantageous benchmarks: use it to refine your pitch, build your confidence, and establish benchmarks for key terms. 

2️⃣ Then approach your A-list and negotiate with them on stronger footing, using your B-list discussions as credible no-deal alternatives and as persuasive benchmarks that support your desired terms.  If / as negotiations with B-listers progress towards your target terms, use the progress to your advantage by generating FOMO among your A-listers.

Stay tuned for more…

 

Access the post on LinkedIn