Ortheia's Vision into 2025 and Beyond
Ortheia Ltd is a healthcare R&D driven business that was looking to add value to an existing portfolio in transformational, implantable musculoskeletal technologies.
Drawing on deep technology and sector expertise, their focus was on de-risking products to progress through first in human trials, towards commercialisation, and on to IP licensing or trade sales of the technology.
The business team at RTC had identified the need to clarify their commercialisation strategy in order to overcome the established barriers related to securing the large investments required to succeed with extraordinary technical and clinical developments over extended timeframes.
Considering what their successful business would look like they owned a combined story that could be shared through 90-second elevator pitches.
A business planning session was carried out using a live virtual whiteboard, which enabled the team to share their perspectives and gain a better appreciation of their differences across the key business activities and from here were able to agree on the best routes to take.
The business now had a much clearer understanding of the endpoint, a vision of the business into 2025 and beyond. Ortheia defined clearer funding and finance needs for the next two years and milestones for the key actions to bring the first product to market, securing IP. This includes establishing its first part-owned, New Company (NewCo), growing the team, and strengthening its leadership and resources with two new appointments expected in the next 12 months. With this, the way in which the directors speak to partners and clients has already significantly shifted, with a newfound clarity and confidence in their outlook and direction. Prof Edward Draper, Chief Exec commented:
"I particularly liked capturing our ideas in the form on an Orbit and see this as being the prime means by which we can debate and decided on our best way forward. This should prepare us for some massive challenges ahead, such as establishing our first part owned NewCo to exploit a key technology, and getting ourselves (and the NewCo) to be investor-friendly."
To speak to the RTC team to see how they can support you, click here.