Posting date:
19/05/2021
US-based start-up diagnostics company, preparing for commercialization
Case study
Introduction
During the Covid-19 pandemic in 2020, our VP was introduced to a founder of a multibillion-dollar VC, who then in turn introduced her to the CEO of our partner, a start-up diagnostics company that was fast-paced and dynamic, with a clear vision and strategy for the next 12 months.
The challenge
The company was pre-commercial and needed a rapid build to prepare for the launch of the first product, a lab developed test. The first critical hire required was a chief of product, as they needed to get the product to market in the next few months. The demands of the role required somebody very niche with a broad skillset from within the diagnostics space.
The solution
We signed an exclusive retained agreement with the company, which allowed us to manage the conversation amongst suitable talent effectively. An initial shortlist of 5 was delivered, and all candidates were interviewed. One individual was selected for hire, but unfortunately this was not to be and so we redelivered on the project. During our second searches, we quickly realised that this previous selected individual had been a true unicorn, and 4 roles would be needed to deliver the requirements. This was broken down into a chief of Product, VP of engineering, VP of data science and lab director.
Our team has years of experience in the C-suite market in the Bay area, and we were able to provide a tailored, sensitive approach to our searches. Candidates were asked to sign NDAs before interview, which helped facilitate a more open and mutually beneficial interview process.
Continued partnership
The CEO was so impressed with our service that she engaged us to find an independent board member. She wanted somebody who could make a real impact, hold weight with investors, launch commercial products and assist with M&A. We delivered a shortlist within a couple of weeks, and we successfully placed a former CEO who took their company from start-up to billion-dollar revenue.
Our relationship grew further as we were asked to fill a newly vacated VP of finance role, and we found an excellent candidate who was at VP and CFO level. The CEO then needed to hire a chief of staff and we found someone from one of the largest and most well-respected diagnostics companies in the world on the first pass.
The outcome
We were delighted that the company was able to meet their aggressive launch deadline with our help, and the product launch was a huge success. We continue to partner with this company as they expand their senior leadership team and beyond. The executive advisor to the CEO has been so impressed that they have made further introductions for us to major health-tech companies who need support with global expansion, and we look forward to partnering further with these exciting businesses.
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