Customer Case Study
Kaken Brings Visibility & Tracking to Scouting Activities
Introduction
The company
Kaken Pharmaceutical (Kaken) is a specialty pharmaceutical company that conducts research and development in novel pharmaceuticals. The company offers solutions in the fields of orthopedics, dermatology, immunology, inflammation, allergies, fungal infections and pain relief.
Kaken’s partnering activities include both searching for new in-licensing opportunities that will contribute to their sustainable growth, as well as out-licensing some in-house products from their own drug discovery.
The challenge: Decentralized Scouting
At Kaken, pre-CDA scouting was completely decentralized. Each business developer scouted for opportunities and tracked their interactions on their own spreadsheet. While this system was fast and easy for the business developers, it was impossible to get a global overview of how many and what kinds of opportunities were being evaluated and declined pre-CDA.
Inova Next Generation: Easy, Intuitive Scouting Solution
Kaken selected Inova’s Next Generation Partnering Platform as an easy, intuitive solution to replace their spreadsheets. Kaken now has one central place for their scouting activities that comes with features and capabilities designed to accelerate the partnering process.
Simplified Data Entry for Better Opportunity Tracking
At Kaken, the goal was to replace spreadsheets without increasing the burden on its business developers. Inova Next Generation is designed to make daily tasks, like creating new opportunities, fast without compromising on quality.
For example, Inova Next Generation features an integration with Inova Data, Inova’s proprietary database of curated company and asset profiles for biotechs seeking investments or outlicensing. When creating a new opportunity, Inova Data does the heavy lifting, autofilling key fields such the company description, financial data, asset classification and development, and more. From there, additional information can be added, such as graphs and charts using the rich text editor, or by drag and dropping emails and documents, providing a complete picture of the opportunity.
“Inova Next Generation is very intuitive. I especially like how simple it is to add information. I use Inova Data to quickly create new opportunities and then I complete them with figures, tables or pictures. This makes it much easier to understand what the interest in the opportunity is.”
Monitoring Performance with Reporting
By using Inova Next Generation for their scouting activities, Kaken is better able to monitor their in-licensing activity, tracking the number of new opportunities created each month.
"While in-licensing activity varies throughout the year depending on period, it’s a good performance indicator. Using Inova Next Generation we can now monitor our activity level in 2023, compare it to last year, and take action, if necessary, to activate our licensing activities.”
Why our customers love Inova
Inova bridges the challenge of two externally-facing function within AstraZeneca, R&D and Business Development, and gets them operating in a seamless fashion: the right hand knows what the left hand is doing.
We use Inova as our exclusive tool for BD&L project management and reporting, resulting in high quality data and deal flow. We enjoy working with Inova’s experts and solutions, they continue to exceed our expectations.
I wanted a solution for my Technology Scouting team that required minimal IT involvement. The BD and AM teams were already using Inova and happy with it. I am very glad we also chose Inova, it’s intuitive and easy-to-use.
Inova has enabled Lilly to standardize processes, enable more consistent data across the entire External Innovation community and place data more directly into the hands of business development leadership.
Inova is built exactly for what we do, pharma partnering. It helps us work together as one company.
Inova puts the information I need at my fingertips, helping me decide which partner is the best fit for my product portfolio.
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