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PreD

Pre due diligence reports

The current economic conditions have added to already challenging times in the UK life sciences sectors. The scarcity of early stage capital which is available for investment, is well recognised. However, at a time when more companies than ever are looking for transactions, we are also seeing a contraction in the number of specialist investors, advisors and infrastructure. PreD reports are intended to fill this growing gap in expertise for the benefit of Corporates, Advisors and Investors.

For Corporates

An increasing number companies that we see are ill-prepared for a corporate finance exercise, because of their inability to either afford or to find experienced advisors: We find this to be as great a challenge to restoring the regular order in the UK life sciences sector as the lack of capital.

We have therefore devised a series of pre-due diligence reports (“Pre-D reports”). These reports are designed to be an affordable way of helping life sciences companies to identify unforeseen problems with the “investability” of their business; improve their presentation and maximise their chances of attracting finance or completing a sale. The reports therefore provide a candid, market-driven assessment of the business before management embarks on the execution phase of a transaction. These reports reflect Elixir’s frequent interactions, both with the investor-base and industry and are constructed with the benefit of years spent as equity research and investment banking analysts, specialising in the area. Each Pre-D report is tailored to the specific circumstances, but typically includes sections such as:

Peer group valuations and ways of maximising perceived value
Identity of likely institutional investors
Possible acquisition/buyer targets
Assessment of the quality of marketing materials including investment memorandums (and how to improve them)
Assessment of potential structural issues
Assessment of potential shareholder issues
Competitive Landscape
Strategic review of the company

For Investors

For investors, PreD reports provide a high level review of a business comprising the basic elements of a full due diligence process and highlight common issues early and without incurring the significant cost of a full exercise. Additional elements of these reports, such as peer group valuations and competitive analysis, provide context against which investors can test and verify their investment ideas.

For Advisors

Elixir has worked with Brokers, Lawyers and Accountants to provide sector knowledge and insight with which to supplement their own professional skill sets.

White Papers

Elixir also prepares its own PreD reports as a vehicle for discussing areas of opportunity which we have spotted within our investment universe. If you would like to receive a copy of these papers please contact Steve Cox

Roll up strategies in the CRO Space
PIPE Strategies in Europe

If you would like to talk to Elixir about a specific project, please click on the button below. The most appropriate person will then contact you directly, to discuss your specific needs.