Situation Assessment

• Single product company with a novel, small molecule targeted agent for pancreatic, non-small cell lung and colorectal cancers
• Salirasib is a direct ras antagonist targeting a pathway highlighted at ASCO 2008 and 2009
• Locust Walk Partners was engaged after a failed process with an investment bank, where only one partnering meeting was secured

Process Execution

• Completed commercial assessment on salirasib for three indications including full revenue model supported by market-based assumptions
• Repositioned the product to avoid confusion with farnesyl transferase inhibitors and secured nine partnering meetings at ASCO
• Reached decision makers at partners in senior clinical and commercial roles in addition to business development Advised deal structuring and term sheet negotiations

Successful Outcome

• License agreement with Ono Pharmaceuticals concluded September 1, 2010 after nine months of due diligence and negotiations
• Undisclosed total deal value but client was pleased with the outcome