Customer Case Study
Labatec Scales-up Biotech Partnering Activities with Inova
Labatec Pharma is a privately owned Swiss-based pharmaceutical company with more than 50 years of experience in delivering high quality products to the European and Emerging Markets. Covering both the hospital and retail sectors, Labatec has a portfolio of over 70 products and a growing geographic footprint. With their brand-new, state-of-the-art solid form manufacturing site in Portugal, Labatec now also offers development, regulatory support, EU release, and flexible commercial manufacturing in a fully integrated site.
In 2016, Labatec entered a new development phase, appointing a new board of directors, reinforcing the management team, and positioning the company for significant growth through both acquisitions and a reinforced in-licensing strategy. To support this new growth strategy, Labatec looked for a software that would help formalize and scale-up their partnering activities.
Labatec previously used Excel to track in-licensing discussions and partnerships but wanted a more secure solution that offered great visibility and project management capabilities. Labatec selected Inova’s Partnering Platform, first for Business Development and then expanding to include Alliance Management, Mergers & Acquisitions, and Contract Manufacturing.
Labatec has all their partnering information in one place, creating corporate memory and enabling better cohesion between their teams. Labatec efficiently manages their partnering projects in Inova, from initial outreach through to alliance management, leveraging dedicated workflows and milestones to easily monitor the project status and next steps. The improved information flow between functional areas, helps the Labatec team optimize their outreach and maximize their impact.
“Partnering activities are a key growth driver for Labatec. Inova helps everyone working on BD, M&A, CMO, and Alliance Management work together more effectively, stay aligned, and create new synergies.”
Driving Growth Through Partnering
Building on a strong track-record of establishing long-lasting partnerships with European & North American companies, Labatec shifted their focus to opening new opportunities through business development. Specifically, Labatec planned to leverage their extensive commercial network and infrastructure to launch partner products in Emerging Markets and Europe at an accelerated pace. Labatec looked to Inova to support this scale-up in partnering activities.
Increased Synergy & Cohesion Across Functional Areas
Initially, Labatec used Inova for their Business Development (BD) activities: tracking opportunities, ensuring a timely and effective follow-up, and having clear visibility into all ongoing and terminated projects.
Labatec quickly saw the value that would come from adding other teams and functional areas to Inova, including Alliance Management, Mergers & Acquisitions (M&A), and Contract Manufacturing (CMO). Having all their partnering documents, emails, contracts, and projects in one secure place creates greater cohesion between teams. For example, once a partnership is signed, handing off the project and important documents from Business Development to Alliance Management is effortless. Their CMO function leverages information gathered by Business Development, such as product lists sent by partners, to reach out to relevant partners.
Inova also plays an important role at conferences, tracking the people Labatec’s team met and what was discussed. It also provides Labatec’s team with up-to-date information before meeting with a partner or prospect, helping them get the most out of these meetings.
Easy Contract & Alliance Management
Once a partnership is signed Labatec manages the licensing agreement in Inova, easily adding the contract and its parameters, such as licensing fees and milestones. Reminders ensure that payments are never forgotten. Since everything is in one place, the partnership’s entire history is easily accessible in one secure place.
A Human Touch Committed to Success
Inova is dedicated to the life sciences, offering easy-to-use products and solutions designed to accelerate and facilitate partnering throughout the lifecycle: from finding leads and tracking opportunities, to managing contracts and alliances. Additionally, every Inova customer has a dedicated Customer Success Manager (CSM) who will help track goals, drive product usage, and regularly check-in to ensure continued success.
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