From Polite Nods to Multiple Term Sheets
The Situation
Our client went to the JP Morgan Healthcare Conference with a subpar pitch deck. And though their previous consulting agency was able to get them an audience with approximately 10 different investors, none of them wanted a follow-up conversation. After jumping in, we also learned that each of the internal decision makers was telling a different story to investors.
Our Approach
When Mind Machine was brought on, we held meetings with the internal decision makers to hear their story and understand how they thought about the transaction roadmap—how to move towards additional funding and an eventual IPO. We also held a half-day workshop with everyone to align on a clear investor narrative.
We used those insights to rebuild the value story and pitch deck from the ground up, focusing on 3 key points:
The enduring attractiveness of the market opportunity, especially given the lack of other good treatment options
The significant differentiators of our client’s product vs. competition, to reframe them as an entirely new entrant/category
The transformative, market-changing potential of this new technology—offering the possibility to reinvent how food allergies are managed for millions of people
What We Delivered
Strategy workshop
Non-confidential pitch deck
Executive summary/one-pager
Confidential pitch deck(s)
Data room management
Investor outreach management
Conference management
THE RESULT
The following JP Morgan Healthcare Conference was much more successful. Due to the new investor narrative and Mind Machine’s connections to JP Morgan, the client was invited to present at the conference. The client also had a full dance card during JP Morgan week, meeting with over 20 potential investors and strategic partners. Post-conference, the client had multiple follow-up meetings, which resulted in multiple term sheets with valuations close to $1B. Mind Machine is currently supporting the client as they negotiate terms.
