Value What Matters!
Life Sciences &
High Growth / High Risk ventures
Context, details and numbers shaping decision making in environments where alignment and success demand extra-diligence.
Two Roads to Fair Value
Valuation is there to value what matters — when it matters, and for whom it matters. Need to align, to clarify, to decide?
Good Governance
Strong governance is the bedrock of winning innovative ventures. It is a deliberate discipline that fosters alignment and gives greater control. Impartiality is our power and it profoundly supports your success.
Deep Value Analysis
We transmute raw, fragmented information — from finance to legal, from R&D to market access — into actionable insight. With the wisdom of perspective, we understand what matters and how the dots truly connect.
Strategic Sparring / Sense-Checking
When timing, funding, or strategy wavers, we provoke the questions you may not yet have considered, forcing clarity. Our feedback is tough yet constructive, grounded in experience, and serves long-term alignment.
External Intelligence
We help you see beyond the horizon. Bringing refined intelligence across finance, BD&L, and market aspects, we decode the decisive elements you may be missing — always within your specific context.
Accounting / Audit / Taxes
We grasp the intricacies of IFRS, US GAAP, local regulatory regimes, as well as the guidance of your experts and auditors. We apply advanced methods to transform complexity into robust, defensible, and transparent valuations.
Sanity-Check / Compliance
We provide a rigorous sanity check to help safeguard against costly missteps. We scrutinize methodologies, assumptions, and computations to protect your interests and reinforce corporate integrity.
You may be surprised by the importance we give to context—and to the investor’s perspective.
High Growth / High Risk is about managing what is uncertain. It requires alignment.
Two roads to Fair Value.
Valuation is often said to sit between science and art. Everyone nods, yet the poetry hides the heart of the matter: clarity is missing on what must be valued, why it matters, and therefore how it should be valued.
Two distinct contexts to Fair Value prevail, each with its own playbook :
- When what is to be valued and why it matters is established upfront and governed by official guidelines. Whether for accounting, tax or governance purposes, the first step is mastering the rules. Most trace back to ASC 820-10 (US) and IFRS 13 (international). But mastery goes beyond compliance. High Growth/High Risk and innovative Life Sciences ventures operate in levels of uncertainty that demands a trained eye to isolate what truly drives value, supported by advanced computational methods capable of making sense of the unknown.
- When Fair Value is the result of a convergence process in which what matters truly emerges through negotiation, arbitrage, or ruling. The final agreed terms reveal which value drivers ultimately prevailed. Here, fair is not inherent, it is achieved. Each side brings its own logic, incentives, and priorities. Success demands a trained eye to read complex dynamics and behaviors, to route to optimum.
Sophisticated valuation methods? They are our terrain.
Ralph Villiger is a pioneer and thought leader in innovative Life Sciences valuation. He authored arguably the field´s most widely recognized foundational book, published numerous papers, trained hundreds of executives and launched an early-stage VC fund.
From fairness opinion to transactional matters, we know not only which advanced methods to deploy, but how to calibrate them so they adequately capture what matters.
Risk-adjusted Net Present Value (rNPV), Monte Carlo simulations (MC), Option Pricing Models (OPM), Real Options, Probability-Weighted Expected Return Method (PWERM), or retro-engineering of comparators are all standard tools in our practice.
We also recognize when a valuation is unnecessary—a fiction that does not advance fair outcomes.
Transactions are our everyday.
Fundraising, IPOs, licensing deals, trade sales, partial and full exits define the journey of innovative Life Sciences and High Growth/High Risk ventures.
Excellence here demands more than knowledge: it requires embedded expertise, longitudinal collaboration with management and investors, and deep strategic intelligence in the field. This insight informs decisions, mitigates risk, and elevates every key transaction moment.
Ultimately, valuation means probing the intimacy of a business—whether guided by formal rules or specific objectives. True insight always comes from context: the forces at play, the intentions behind the numbers, and the human dynamics that make all the difference.
Meet you where you are: in sync with innovative ventures and investors
Innovative Life Sciences and High Growth/High Risk ventures follow a distinctive risk/reward pattern, yet every journey is unique. From initial deals to long term strategy, management and investors alike face uncertainy, steep decisions, shifting dynamics, and constant adjustment.
We step in exactly when and how it matters, bringing insight, precision, discipline, and the agility to act and adapt as circumstances unfold.
Handle urgency like a reflex.
"When do you need it?" "…for yesterday?" It happens more often than not. And we don’t flinch.
In the world of High Growth / High Risk and Life Sciences innovation, urgency is not the exception, it’s the rule. Patent and IRR clocks tick, deal-momentum can vanish quickly and an unwise trade-off can derail the whole.
When timing matters most, we don’t just move fast. We turn urgency into precision, identify what truly matters, and outsmart situations—keeping you ahead, with confidence.
Valuation that travels with your venture
In innovative High Growth / High Risk and Life Sciences, from the spark of an idea to the market, the journey is a continuous transformation for both the asset and the team. Rising to the next inflection point requires operating at a higher level. This isn’t automatic, it is achieved.
Valuation reveals that capacity and assesses the fit for what comes next. Our perspective on these transformation steps brings immediate value—whether for a one-off critical decision or long haul support across shifting growth stages.
Hence we can add value even before inception, supporting incubators and tech-transfer offices advancing Life Sciences innovation.
The outside view that moves things forward.
Innovative, patent-protected High Growth/High Risk and Life Sciences ventures operate under tight constraints — cash, talent, and time. They are sharp and nimble.
We bring a perspective that is both detached and deeply embedded: an impartial +1 that reads the room, understands your context, and steps into exactly the role that’s needed — no more, no less.
We mirror your stage of readiness and the perspectives of your key stakeholders. We surface insights that can be hard to hear, yet always fair. You gain time, clarity, and control. This is support that truly moves things forward.