Specialty Pharma

Specialty pharmaceutical companies often possess products that offer a different and unique set of advantages versus other available therapies. Their differentiation, market opportunity and exclusivity protections may be more modest than a classic novel biotech blockbuster product, but these assets may still be quite valuable in the right hands. Particularly for companies that have such programs in late-stage development, filed for approval or already launched, Locust Walk can provide support in several ways.

Global and Regional Clinical Asset Partnering and Asset Divestiture

We carefully position assets to ensure clear differentiation from the competitive landscape and alignment with unmet medical needs. Our team manages the full process, from marketing materials preparation, initiating outreach, soliciting term sheets, leading or supporting negotiations through to deal close. We leverage deep global and regional industry relationships to maximize value and accelerate outcomes. In addition to global and regional out-licensing deals, Locust Walk can also execute full asset sales.

Company Mergers and Acquisitions

Our white paper on the anatomy of an M&A shows that more than 75% of public company acquisitions begin as global or regional licensing transactions. Locust Walk has led more than 20 company or asset sales, both public and private, many of which started as licensing discussions that evolved into acquisitions. We most often operate as the sole banker on a deal, but for larger transactions we can partner with other investment banks.

Non-dilutive Financing

Specialty pharmaceutical companies and assets may be particularly amenable to obtaining non-dilutive financing given the high likelihood and often near-term (or even current) revenue potential which provides investors who specialize in non-dilutive financing with the confidence to invest in this manner. Such non-dilutive financing could include various kinds of debt, royalties, revolving lines of credit, and other structured or hybrid financing. Locust Walk maintains close connectivity to the relevant investors for this type of financing and knows how to position the assets correctly for this audience.

Buy-side Execution

While most of the Locust Walk’s activity is focused on the sell-side, the firm will support pharma companies that are seeking acquisition and/or in-licensing opportunities for assets (or companies that have assets) that have successfully completed Phase 3 development or later than this.

What Sets Us Apart

Specialty pharmaceutical operational experience: Our team includes individuals who have served in senior, including C-level, roles in specialty pharmaceutical companies and who understand the value proposition of these types of products and how best to position (for sell-side) and evaluate (for buy-side) these assets.