A major player in the radiation oncology market was looking for growth opportunities and had identified cancer immunotherapy as a potential opportunity, given the increasing evidence that radiation can synergize with immunotherapy. We were asked to develop a strategy and business plan.


Our consultant Robert Johnson approached this challenge by:

  • conducting an in-depth review of literature to understand the scientific and clinical evidence supporting radiotherapy and immunotherapy synergy
  • interviewing several key opinion leaders to supplement our literature findings, learn of unpublished data and collect expert advice and opinion on potential opportunities
  • conducting a comprehensive review of the cancer immunotherapy development landscape to identify and prioritize potential assets and partnership opportunities
  • introducing our client to several immunotherapy companies and facilitating initial discussions to gauge the mutual interest in a collaboration
  • developing a database of radiation/immunotherapy combination clinical trials that were currently ongoing, detailing the relevance, stage of development, principal assets under investigation and other key parameters. This was supplemented with a summary database of the literature review

We then gave several recommendations to help the company build an internal business case for board approval. These included building internal capabilities and expertise in cancer immunotherapy, and initiating R&D collaborations with selected academic labs, biotech and pharma companies. We developed detailed budgets for these activities and showed, through risk adjusted NPV modelling and comparables analyses, how our client could secure a significant financial return on these investments.


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