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Biotech Success Rates:

NCEs vs. Biologicals

When performing a valuation of a biotech company, you need to know the probability that the projects make it to the market. Historically, the success rates of biological drugs were much higher than the ones of chemical compounds (NCEs). But do these figures also hold for biotech companies, i.e. companies without a large portfolio of revenue generating products?



License Contract Valuation in Excel
Hotel Clarion.
Stockholm - SWEDEN

License Contract and Company Valuation in Excel
New York - USA

License Contract and Company Valuation in Excel
Boulder - USA

License Contract and Company Valuation in Excel
San Francisco - USA

Valuation Book

Valuation in Life Sciences
Become a valuation expert yourself. "Valuation in Life Sciences. A Practical Guide" has become the industry reference book and is currently in its second edition.

Click here to order.

Real Options:
Dos and Don'ts

Real options have been applied to drug development projects in many case studies. Unfortunately, in most cases the method has been abused for marketing purposes of self-proclaimed specialists to the cost of the trustworthiness of the results. We tell you how to correctly use real options, we pinpoint at the various errors, and we give you an overview of the applicability of this valuation method.


ri:val: Plan ahead with ri:val 4.0

ri:val has evolved from a valuation software to an important negotiation and planning tool. Clients from pharma, biotech, universities, and the investor community use ri:val to

  • Evaluate term sheets,
  • Elaborate counter-offers,
  • Read and interpret benchmark deals,
  • Value the company,
  • Run various clinical scenarios,
  • Define liquidity needs,
  • Plan resource allocation,
  • Compare different strategies.
The new ri:val v4.0 assists business developers, CFOs, CEOs, analysts, and investors with its new features such as:
  • Deal structurer,
  • Resource planner,
  • Bottom-up sales calculator,
  • Sales data of 700 drugs back to 2003,
  • Standard reports.

License Contract and Company Valuation Workshops:
Prepare your own Excel sheet

Due to the large interest Avance holds a series of 2-days' workshops on company valuation in the USA. The first day will cover project and license valuation. On the second day we will touch company valuation with delicate topics like cost of capital, taxes, and Monte Carlo simulations. All topics will be put into practice with a case study in Excel. Scheduled venues include New York, Boulder, and San Francisco.


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