As the business prepared for investment, the focus turned to strengthening investor confidence through enhanced financial clarity and structure. This work ultimately supported the company in securing an additional cash injection from existing investors, positioning it for continued growth.
The Client
This early-stage pre-revenue medical devices company has worked intensively alongside clinicians, engineers and scientists over the last 10 years to deliver high-performance, cost-effective medical device technology that meets the increasing demands of modern healthcare teams. They are supported by the European Regional Development Fund and the South West Digital Accelerator Programme.
The Requirement
Firstly, having successfully brought their product to market, this client required access to an experienced Fractional CFO to support them in developing and implementing an effective financial strategy, introducing financial controls, and preparing for investment in the future. In particular, they needed help to understand their cash position, get a more accurate view of the company’s current performance and build a financial strategy to support the full commercialisation of their product.
What Was at Risk
Without clear financial visibility and structure, there was a risk of limiting investor confidence during the fundraising process. The absence of consistent reporting and forecasting also increased the likelihood of delays in securing funding and constrained the company’s ability to plan effectively for growth.
The Solution
Isosceles provided a Fractional CFO with an investment background and experience working with biotech companies, supported by Financial Controller resource to strengthen the finance function and manage core finance activities.
Their initial focus was to conduct a thorough review with the Board of existing finance deliverables, policies and the overall financial position of the business. This informed a clear action plan aligned to investment readiness and future growth.
Investor-ready financials
- Established financial discipline by introducing best-practice processes, policies and controls.
- Created a monthly reporting pack to give the Board clear visibility of performance.
- Built a cash flow forecasting model and generated profit and loss statements to monitor runway and performance.
- Developed a robust financial model, updated quarterly, to track sales performance and support decision-making.
- Created ‘what if’ scenario models to assess the financial impact of different growth and pricing strategies.
Strategic CFO leadership
- Attended all Board meetings, leading financial discussions and supporting key decision-making.
- Worked closely with the senior leadership team to develop a financial strategy aligned to growth objectives, assessing constraints and identifying priorities for scale.
Funding preparation
- Prepared investment documentation and established a Data Room.
- Initiated discussions with potential investors, supporting the business through the early stages of the fundraising process.
Why Isosceles?
This client chose Isosceles because the proposed CFO had a corporate finance background. Additionally, he had experience within the biotech sector and had previously helped similar companies with the same challenges while preparing for investment. They were able to offer them a choice of CFOs; they were impressed by our flexibility and ability to introduce other finance professionals to work with the CFO on tasks that didn’t need their level of expertise or cost.
Related content | The challenges of investing in life science and biotech
The Results of Investment Preparation
Isosceles helped the company:
- Secured an additional cash injection from existing investors, supporting the next phase of growth.
- Established strong investor confidence through clear, credible financial reporting and a well-defined growth strategy.
- Delivered full financial visibility, including a robust understanding of cash runway, performance and future funding requirements.
- Enabled more informed, data-driven decision-making at Board level, strengthening strategic direction.
- Freed up the wider team to focus on core operations and commercial priorities, with a professionalised finance function in place.
Overall, by establishing structured financial clarity and robust reporting, the business was able to build investor confidence, achieve investment readiness and successfully secure additional funding to support its next phase of growth.
Author’s Biography
Matt Smith is a Senior Marketing Associate at Isosceles Finance.
(Image Source: Shutterstock)
