Valuation - What You Need to Know  

Oleh:

Frei, Patrik ; Leleux, Benoit F.

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: Nature Biotechnology: The Science and Business of Biotechnology vol. 22 no. 8 (Agu. 2004), page 1049-1052.
Topik: valuation; valuation

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: NN9.1 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

Valuing a company has always been more art that science. At the best of times, it is a trricky and difficult task, especially for early stage, biotech companies. The so called pre money valuation (which takes place before a company is financed) dictates how equity is divided among a company's investors and entrepreneurs. Those entrepreneurs follhardy enough to ignore the need for a proper valuation before they begin seeking capital not only may find themselves at a disadvantage in negotiations with investors, but also may have no way of rectifying a situation if the company valuation is suboptimal. In contrast, those who prepare a through valuation of their venture often gain a strong negotiating position, even in a buyer's market. Every startup should thus enter financing negotiations with a clear understanding of its value drivers to obtain a fair and full valuation. In this article, we provide a basic outline of how to conduct a proper valuation exercise and present two common methods used to value an early stage biotech company.

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