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Are you an early stage life sciences company who needs access to specific talent but does not have the budget to recruit such skills?

By 17 March 2020

Whilst there are many start-up / early stage life science companies with fantastic scientific ideas, unfortunately the reality is that many of them fail. Why is that? In some cases the science is not good enough, in others it might be due to a lack of resources – financial or talent to help them develop and bring their products to market.

In our experience, many start-ups / early stage companies who have limited financial resources have the greatest need to draw on the senior level expertise at key stages of their development process, but do not need and cannot afford a full-time person. Often the gaps are in not having the right commercial, medical, toxicology or regulatory expertise at the right point in time.

Being able to “let go” and hand-over some of the responsibilities to highly successful and proven interim executive expert is sometimes hard for founders, however when such teams recognise where their strengths are and where they need help, this will often lead to a more successful outcome compared to companies who did not.

So, what is the solution to this chicken and egg problem? The smart way around this is to draw upon the incredibly deep expertise that highly experienced interim executives can offer. The baton can be handed over from one interim expert to the next to aid the development process in the different verticals of expertise or there can be a meaningful handover to an incoming permanent employee in the future.  Often only one or two days a week are required from these interim executives for a certain period. The executive interim brings their expertise and is paid for the time needed.

This solution ensures that the early stage company has access to the right expertise at the right time for their product and business, with the flexibility to turn it on or off at relatively short notice.

For UK based companies of less than 50 people you may also be exempt from IR35 from April 2020.

To find out more and discuss your requirements without any obligation, please contact either Evy Young (evyyoung@eventumpartners.com) or Darren Spevick (darrenspevick@eventumpartners.com) on 0044 203 670 1111.

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