De-risk Phase II/III Vital Commercial Investments by Customizing Support and Reducing Cost with an iCCO (Interim Chief Commercial Officer)
One of the biggest risks for Phase II/III pharmaceutical and biotech companies is hiring full time commercial staff before readout. Of course, the company needs the expertise of an exceptional commercial leader, but that comes with the risk of having to fire and compensate that person if the Phase III readout is unfavorable.
The solution – An Interim Chief Commercial Officer. The benefits of hiring an iCCO include:
- Adaptive commercial support
- Appropriate amount of support needed to achieve company goals
- Aligns with corporate Commercial/Regulatory scenarios.
- Create and defend a revenue forecast and commercial budget
- Facilitate alignment between the Executive Team and Board of Directors
- Reduced risk and cost to the company
- Significant cost savings compared to a full time CCO, oftentimes <50%
We recently worked with an emerging biotech company focused on discovering and developing products to treat cancer. We provided full commercial support at the appropriate level during Phase III that aligned with an effective commercial launch. We were able to establish the commercial priorities, medical affairs activities, headcount needs and costs of capital required to launch. In addition, we established a three-year commercial budget and identified an excellent full time CCO who was ready to hire at PIII readout. Using our adaptive “On/Off” model, the company was able to achieve their objectives at less than half the cost of a full time executive.
Using a team of experts, we provide the early commercial expertise needed for commercialization. Our work inspires Executive team confidence encompassing a vast range of commercialization expertise including:
- Leading the execution of all Commercial imperatives and CCO search until pivotal trial readout
- Bridge commercialization roadmap
- Commercial assessments & revenue forecasting
- Commercial & medical affairs talent acquisition & onboarding
- Commercial strategy across geographies