A robust business case is more than a financial model. It is the central decision logic that translates scientific innovation, development strategy and commercial perspective into a coherent and transparent value narrative.
Why this phase is critical
For both companies and investors, this is the point at which it becomes clear whether a project is investable, financeable and strategically sound.
Company perspective
For life science companies, the business case is often the first structured step to:
- Develop a realistic understanding of the true value drivers
- Compare development options on a consistent basis
- Structure financing needs and development timelines
- Engage with investors on equal footing
A well-designed business case creates clarity on where value is generated and where it is not.
Investor perspective
For investors, the business case is not a sales document, but a tool for assessment:
- Are the assumptions consistent and realistic?
- How sensitive is value to clinical, regulatory or commercial risks?
- Where are the decisive value drivers and decision gates?
Investability does not arise from optimism, but from transparent and traceable logic.
Typical risks and flawed decisions
In practice, we frequently observe:
- Business Cases developed in isolation from the development plan
- Overly optimistic market, pricing and timeline assumptions
- Insufficient transparency regarding risks and sensitivities
- Weak linkage between clinical milestones and value creation
These weaknesses undermine credibility, regardless of the scientific quality.
What Excellere delivers
Excellere develops business cases that are integrated, realistic and decision-relevant. Our services include, among others:
- Development of integrated business cases across development, market and finance
- Identification of clear value drivers along clinical, regulatory and commercial milestones
- Structuring of scenarios and sensitivities
- Transparent presentation of assumptions, risks and dependencies
- Explicit linkage of development decisions with value creation
- Preparation of business cases for investor, partner or internal decision processes
Our objective is to make value creation transparent and decision-relevant, not to maximize numbers on paper.
Integrated perspective instead of isolated financial logic
Our business cases are not developed in isolation, but are based on an integrated assessment of:
- Scientific substance
- Clinical development strategy
- Regulatory reality
- Market, pricing and access logic
- Organizational feasibility
This is how decision foundations are created that withstand due diligence.
Added value for companies and investors
For companies
- Clarity on value potential and risks
- A robust foundation for financing decisions
- Better preparation for investor discussions
- Realistic steering of development and resource allocation
For investors
- Transparent decision foundations
- Clear sensitivities and value drivers
- Improved comparability of projects
- Reduced information asymmetries
How we work
Business case development is led by Excellere's senior management and, depending on the question, complemented by our advisor and partner network. We work:
- Decision-driven rather than model-driven
- Integrated with management teams, founders and investors
- Without delegation to junior teams
Our aim is to enable sound decision-making, note merely to deliver numbers.
When business cases are expected to support decisions
A strong business case does not answer every question, but the right ones. Let us jointly asses how Excellere can support you in developing robust business cases as a foundation for strategic and financial decisions.
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