First-in-class and disruptive
Our approach targets a well-defined customer base: partners that seek to access external innovation. The signature of the investment sweet spot for us is thus primarily defined by their needs for first-in-class products that address a clear market need. In our portfolio companies thus we seek to develop technologies and products with disruptive potential. Preferably such assets are at preclinical stage, and even conceptual research stage such that, together with the (scientific) founders, a lean business case can be implemented at day one.
Capital-efficient leverage of a business case is a key driver in our strategy. This approach works particularly well when the potential of a technology is demonstrated through an exemplary development success. We therefore seek to execute a strategy around technologies that have the potential to form the basis for multiple products. Hence the value generated as part of our investment lies partly in the lead product that is based on such technology, but considerable additional value is created in validating the underlying technology.