A Biotech Manager's Handbook

7

Raising funds and managing finances

Darren Cunningham, FCA

Abstract.

Many companies fail to secure finance, not because their business idea is poor, but rather because their planning and preparation prior to approaching potential investors is inadequate, thus reflecting poorly on them as a management team. This is important to appreciate as most investors rate the calibre of the management team as important as the business idea itself. There are a number of preparatory steps management should consider prior to approaching investors, and these are presented here. Among those steps mentioned is the carrying out of ‘test runs’ of the investor presentation on a trusted acquaintance. As management are most familiar with their business they can ...