Services

Asset Search, Market Assessment, Valuation

Torreya Insights uses proprietary databases, validated decision-making algorithms, and nimble, efficient processes to meet our Clients’ needs, expectations, and budget. We have a network of business partners who are available to work with us on select projects. These groups have deal-making, banking, clinical and regulatory expertise and experience.

Market Assessment

Torreya Insights provides strategic advice supported by primary and secondary market research. Primary research may include in-depth interviews, web surveys, focus groups and face-to-face interviews. Secondary research focuses on scientific literature, financial and analyst reports, drug and trial databases, industry reports and databases.

We start with the business decision, project purpose, scope, and team alignment. We identify data needs for each key assumption in assessing a product’s potential, or when developing a forecast or valuation. We engage in a collaborative process with our clients to ensure an alignment of goals with the approach and methodology.

Our research methodology and analysis take into account:

Our market assessment methodology

Valuation

Our valuation methodology complements and often expands Client’s Business Development resources and processes. We strengthen valuation through benchmarking networks, broader database access, and expanded methodology. We provide fairness opinion white papers for those clients who require an objective, independent assessment of the present and future monetary and market value of an asset or asset portfolio.

We undertake three approaches to financial valuation: discounted cash flow, comparable transactions, and comparable public companies.

discounted cash flow

Discounted Cash Flow

  • Determines the present value of an asset or company based on the expected future cash flows generated
  • Risk-adjusted using the probability of success at different clinical stages of development
  • Pro: Derives an Intrinsic Value
  • Con: Sensitive to Assumptions
comparable transactions

Comparable Transactions

  • Both M&A and licensing transactions in the similar space are examined to gauge a reasonable range of values that an asset is able to obtain if it were to face similar opportunities
  • Analysis would focus on transactions in similar phases with the same indication
  • Pro: Most Likely Exit Strategy
  • Con: Timing Affects Value
comparable public companies

Comparable Public Companies

  • Estimates the value of an asset based on risk-adjusted enterprise value of the pipeline of publicly traded companies targeting similar market opportunity
  • The focus would be on companies with a similar assets and financial situation
  • Pro: Understand Competititve Space
  • Con: Liquidity Discount