A European investor asked Alacrita to conduct a due diligence exercise on a company that had developed a novel single chain antibody platform with its lead product in ADC format ahead of a major financing round. The client had formulated a series of specific questions to focus the DD but also asked Alacrita to investigate any other major issues that arose during the assignment.
Alacrita incorporated an antibody specialist from its Expert Network into the project team to conduct the exercise. We followed our standard DD approach, namely a review of the target company's dataroom, video calls with the management team and relevant secondary research from our own databases, as well as publicly available information. We compiled our findings into a slide deck in the form of a risk analysis where we identified key uncertainties (and any apparent risk mitigation) and assessed their materiality.
We held two review telecons with the target company after their review of our draft report and followed up with supplementary telecons with our client.