Publications

The Case for Hiring an Investment Bank: Adding Value to Your Value Proposition

The “right” investment banker for you with the appropriate experience can not only tell you what your company is worth, they can also utilize their expertise to establish and run an appropriate, bespoke transaction process that will serve to reduce risk and maximally benefit you and your company’s future potential, valuation or even sale price – and they should be equally willing and able to.

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The Winding Journey of Biotech Capital Raising: Deciphering the Jargon

Ensuring biotech companies are sufficiently capitalized to propel innovation and development remains a central focus for management. In this article, we draw on our broad perspective interacting with venture capitalists to offer thoughts on investor feedback. Understanding venture capitalists’ mindsets and investment theses will increase the probability of securing needed capital.

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Financing Diagnostics in the Post-COVID World

During the COVID-19 pandemic, the US government imposed sweeping pandemic measures on the nation allowing millions of Americans to receive free tests, vaccines, and treatments aimed to prevent spread of a potentially life-threatening, highly contagious disease. These COVID-19 emergency declarations will end on May 11, marking a close to the US response to the global pandemic. With the end of the pandemic, the in vitro diagnostics (IVD) industry is confronting a reckoning-one that was predicable but is still painful.

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Orthopedic Industry Outlook Prompts Positive Market Sentiment

Amid a deteriorating macroeconomic backdrop, orthopedic industry stocks have shown resiliency relative to the broader public markets. This enables management teams to breathe a sigh of relief, driven in part by expectations for a long-awaited pickup in procedure volumes, as they and investors have watched valuations tumble over recent years due to COVID-19 headwinds, supply-chain backlogs, and other industry forces.

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Optimizing Medtech Pricing Flexibility in a Digital World: Subscription Versus CapEx

As medtech companies modify their business practices and pricing models to draw out the maximum value of their integrated digital and medical device offerings and respond to customers’ concerns about high up-front costs of adopting new technologies, they need to discern the trade-offs and proper use cases.

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Orthopedic Industry Exhibits Steady Transactional Activity and Value, Despite Maturity

Outcome Capital argues that the orthopedic segment, and ortho in particular, remains highly attractive, as it offers investors stability, healthy multiples, and opportunities for innovation.

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Dx IPO Window Widens in 2021 as COVID-19 Testing Provides Jumping Off Point

Sustained investor interest in the diagnostics industry in light of the continuing COVID-19 pandemic drove initial public offerings in the Dx space in 2021, leading to more than three times as many IPOs in the space last year as in 2020.

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Diagnostics M&A Deals Skyrocket in 2021 as Companies Have COVID-19 Cash to Burn

As many diagnostics companies continued to benefit from high volumes of COVID-19testing, cash burned a hole in the pockets of many in the industry, and major players and smaller newbies alike picked up new businesses. 

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Diagnostic Financings Are Robust, Fueled by COVID-19 and Precision Medicine

Private investors poured more than $8 billion into diagnostics companies between January 2020 and September 30, 2021, envisioning myriad opportunities for innovative COVID-19 testing technologies and precision medicine tests that help optimize individual treatment regimens.

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Make, Buy Or Partner: Strategic Alliances Continue To Fuel Biopharma Growth

The biopharma market has been highly active throughout the COVID-19 pandemic with a substantial focus on strategic alliances between 2020-H1 2021. Partnership deals present exciting liquidity and risk mitigation opportunities for early-stage companies. Small molecules still comprise the largest segment of partnered drugs, but alliances for other modalities are on the rise.

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Pharma Services Sector Poised for Continued Growth and Consolidation

Outcome Capital has been following the pharma services market dynamics for the past 5 years. The authors believe that this fragmented segment will give way to greater consolidation by both financial buyers looking to roll up smaller players and larger contract research organizations seeking to expand into value-added specialty service areas. Adding to this consolidation is a tepid fund-raising environment, opening the door for financial buyers to play a role in consolidating many niche players.

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The Diagnostics Industry Post-Covid: A Revival or Return to Baseline?

The COVID-19 crisis shifted unprecedented resources to the diagnostics industry and presented a substantial growth opportunity for test manufacturers. A multitude of companies and entrepreneurs quickly pivoted toward developing innovative COVID tests, but whether they can survive post-pandemic exceptionalism remains to be seen.

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Intense Transactional Activity Continues To Propel Biopharma Growth

Due to the risks, costs, and required specialization associated with research and development, acquisitions and partnerships have become powerful and frequently used tools for large pharmaceutical companies to ensure continued growth. Outcome Capital’s analysis of M&A by the largest pharmaceutical companies over the past three-and-a-half-years reveals some important trends.

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7 Elements of a Successful Biotech Funding Plan

CEOs must accept the reality that the success of their company is largely dependent on segment dynamics, in addition to the technology or their management skills

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Immuno-Oncology: Unicorns, China And The Perfect Storm

Are we in the midst of a transformational inflection point in scientific progress leading to meaningful improvements in clinical outcomes or are we witnessing irrational exuberance by investors and strategic players leading to unduly escalated asset values? Time will tell.

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Strategy First, Execution Second: Why Life Science Entrepreneurs Should Adopt a Top-Down Mindset Early

Management teams should adopt a top-down approach by developing a clear path to liquidity aligned with sector-specific market characteristics

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Neurovascular Device Market Poised For Growth

Not long ago, tPA was the only front-line treatment for acute ischemic stroke. But a second generation of mechanical thrombectomy devices, including stent retrievers and aspiration-based reperfusion devices, has demonstrated significant efficacy against ischemic stroke, providing the impetus for renewed device innovation and new care delivery strategies.

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Recurring Mistakes (And Remedies) For Life Sciences M&A

Life science management teams fall victim to recurring mistakes and entrapments.  This article discusses avoidable missteps in M&A transactions and their respective remedies.

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Attracting Venture Capital in the Life Sciences Industry: a Data-driven Approach

Seeking venture capital (VC) financing for a young life sciences company is often a difficult and frustrating job, sometimes taking many months and too often ending fruitlessly.

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How Cognitive Bias Undermines Value Creation in Life Sciences M&A

Life Sciences mergers and acquisitions are typically based on perceived future value rather than objective financial parameters.

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Who’s Driving the Liquidity Event?

In a hard-hitting expert view piece, Dr Oded Ben-Joseph and Dr Shawn Manning, from investment bank Outcome Capital, advise on how life science companies can achieve shareholder objectives without falling into some common traps.

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Platforms versus Products in the Life Sciences Sector

In an expert view piece, Dr Oded Ben-Joseph and Dr Shawn Manning, from investment bank Outcome Capital, advise on how life sciences companies can curtail risk by allocating time and money in a capital-efficient manner.

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Where the Bodies Lie

As members of a life sciences advisory and investment banking group, my partners and I have often noted that life sciences companies fall victim to the same mistakes and misconceptions, repeated again and again. These failures mostly hinge upon company management misunderstanding the fundamentals of market dynamics and failing to appreciate the importance of the exit…

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Business Success in the Life Sciences: an Investment Banker’s Perspective

We spent considerable time talking with biotech and pharma companies as well as academic research labs throughout the UK. Our aim was to get a more in-depth understanding of the local industry, its strengths, weaknesses and particular needs…

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Market Insights

Outcome Capital’s 2024 State of the Life Sciences Market Report

Gain insights into the latest M&A trends, key industry drivers, breakthroughs, and an outlook for 2025.

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FY 2023 – H1 2024 Pharma CDMO Market

Highlights, Trends, Opportunities & Outlook

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FY 2023 – H1 2024 Clinical CRO Market

Highlights, Trends, Opportunities & Outlook

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FY 2023 – H1 2024 Preclinical CRO Market

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Hospital @ Home

The Transformation of Virtual Care

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Pharma Contract Services Industry Outlook 2023

Highlights, Trends, Opportunities & Outlook

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2023 & 2024 Life Science Market Outlook

Highlights, Trends, Opportunities & Outlook

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2023 Artificial Intelligence in Life Sciences Market Insight

Highlights, Trends, Opportunities & Outlook

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2023 Life Sciences & Healthcare Consulting Market Insight

Highlights, Trends, Opportunities & Outlook

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Strategic Survival During A Downturn

How The HealthTech Industry Is Entering A (Probable) Recession, And Ways Management Teams Can Navigate Newly Unchartered Waters

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2022 Pharma Contract Services Industry Outlook

Outcome Capital shares their analysis and insights on pivotal trends and opportunities within the Pharma Contract Services sector.

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2022 Digital Health Sector: Highlights, Trends & Opportunities

Outcome Capital shares their analysis and insights on pivotal trends and opportunities within the Digital Health sector.

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2022 Medical Device Sector: Highlights, Trends & Opportunities

Outcome Capital shares their views, insights and data on key strategic trends and dynamics in the Medical Device sector.

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2022 Biopharma Industry Outlook: Highlights, Trends & Opportunities

Outcome Capital shares their views, insights and data on key strategic trends and dynamics in the biopharma sector. This segment is poised for significant growth, scientific advancement and consolidation.

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2022 Life Science Consulting Sector: Market Trends, Dynamics & Opportunities

Outcome Capital shares their views, insights and data on key strategic trends and dynamics in the life science consulting sector. This vibrant segment is poised for significant growth and consolidation.

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Digital Health Sector: Trends and Opportunities

Outcome Capital shares their views, insights and data on key strategic and financial trends within the Virtual Care, Population Health and Tech-Enabled Payor segments. These vibrant segment niches of the broader Digital Health industry are poised for significant investment and consolidation.

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Biology & Digital Technology Merger Gives Rise to Spatial Biology

As a highly specialized life science advisory and investment banking firm, Outcome Capital looks to identify emerging trends that effect how researchers and clinicians understand, diagnose, and treat disease.

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Shining the Light on Diagnostic Shortcomings During the COVID Pandemic Reveals a Stronger Path for the Future

Outcome Capital sat down and spoke with Dr. Cathy Petti to get her perspective on the shortcomings of COVID diagnosis and how to carve out a stronger path for the future. 

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Grabbing Hold of the COVID-19 Pandemic as a Diagnostic Company

Outcome Capital sat down and spoke with Chuck Morrison to get his thoughts on the effects of the current COVID-19 pandemic on diagnostic transactional activity in 2020 and how best to weather the economic environment.

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In Vitro Diagnostic Market Insight: Continued Growth and Consolidation

The In Vitro Diagnostic market values established companies with regulatory approval and market traction. This is demonstrated by premiums paid for acquisitions of companies that offer the opportunity to quickly capture market share and IPOs of companies with significant revenues.

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Update in Immuno-Oncology: Multiplicity of Drug In-Licensing Opportunities to Expand Your Pipeline

This market update captures assets currently in development and recent partnering/in-licensing transactions which can catalyze development and improve valuation for companies.

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Ophthalmology Market: Opportunity for Growth Remains

The ophthalmology market values innovation approaches, demonstrated by premiums paid for acquisition of  first-in-class therapies and public market support of ophthalmology gene therapy companies.

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Cell-based Therapies: A Maturing Market Poised for Growth

The cell-based therapy market will grow significantly, supported by recent clarity in the FDA pathway, improved clinical outcomes as well as market entry by big pharma.  

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Life Sciences Pulse

Outcome Capital Life Science Market Pulse, January 2025

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Outcome Capital Life Science Market Pulse, December 2024

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Outcome Capital Life Science Market Pulse, November 2024

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Outcome Capital Life Science Market Pulse, October 2024

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Outcome Capital Life Sciences Pulse, September 2024

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Outcome Capital Life Sciences Pulse, August 2024

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Outcome Capital Life Sciences Pulse, July 2024

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Outcome Capital Life Sciences Pulse, June 2024

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Outcome Capital Life Sciences Pulse, May 2024

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Outcome Capital Life Sciences Pulse, April 2024

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Outcome Capital Life Sciences Pulse, March 2024

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Outcome Capital Life Sciences Pulse, February 2024

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Outcome Capital Life Sciences Pulse, January 2024

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Outcome Capital Life Sciences Pulse, December 2023

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Outcome Capital Life Sciences Pulse, November 2023

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Outcome Capital Life Sciences Pulse, October 2023

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Outcome Capital Life Sciences Pulse, September 2023

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Outcome Capital Life Sciences Pulse, August 2023

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Outcome Capital Life Sciences Pulse, July 2023

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Outcome Capital Life Sciences Pulse, June 2023

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Outcome Capital Life Sciences Pulse, May 2023

View our LifeSciences Pulse Newsletter

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Outcome Capital LifeSciences Pulse

Learn more about strategic transactional insights & market trends!

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Outcome Capital LifeSciences Pulse

Learn more about strategic transactional insights & market trends!

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