Closed Loop Medicine is a new breed of therapeutics company focused on care pathways, outcomes and the provision of dynamic personalised regimens. The company combines proven drugs with digital therapeutics and, where relevant, devices and diagnostics, through a single prescription enabling the digitisation and data capture of an entire care continuum. With this novel approach CLM is aiming to treat various health conditions, initially looking at hypertension and sleep disturbance.
Closed Loop Medicine’s part-time CFO had decided to leave to take on a full-time role elsewhere. This change coincided with the company needing a full-time CFO as it began to scale operations dramatically towards its next inflection point and fund-raising. The appointment would have to be completed under challenging timelines. The Covid-19 pandemic was just beginning with all the uncertainties and limitations that arose as the UK went into lockdown. Our challenge was not only to find someone qualified for the role, they also needed the skills and experience usually only found in an established and well-funded biotech.
How our approach made a difference:
Our connection with the CEO and other key stakeholders enabled us to develop a rapid understanding of the company’s needs and what type of candidate would be needed for a good cultural fit with the leadership team. Combined with our previous experience of finding CFOs for public and private biotechs, we were able to pull together a long list of candidates on which we performed data driven due diligence and comparative analysis to arrive at a short list. All interviews were conducted using remote technologies as were the final interviews with the company. The appointment was made without any face to face meetings and the whole process took less than 90 days.