Boutique business development services for health innovators
trifermed is a specialised business development firm offering personalized remote business services to healthcare companies in the areas of collaborative partnerships and innovation management using and providing virtual platform implementation.
Working with trifermed offers an alternative to clients who are looking for something different than a large-firm experience. At trifermed we aim to offer more individualized services and tailor our offerings to the needs of our clients.
“In the 21st century, collaborative partnerships call for business model design, business model validation, and environmental analysis.
The rest is all about being consistent and managed properly”
Over the last 17 years, trifermed has been developing our own methodology to improve the activities linked to innovation management and partnerships. Since 2013 the trifermed methodology has combined four main pillars:
- A trained and motivated team of health executives
- trifermed standard operating procedures aligned with the ISO 56000:2019 series for collaborative partnerships and innovation management
- Strategyzer® Business Model Generation tools (www.strategyzer.com)
- Wrike® latest real-time project management platform (www.wrike.com)
The following video will provide an overview of our trifermed methodology.
“Entering into a partnership in health is not a linear process.
Organisations may enter the innovation partnership process at any point, depending on their circumstances.”
Our methodology for partnerships in health includes a validation process which works hand-in-hand with the partnering process.
Our process is divided into three phases:
- Desk phase: this phase includes all the work that has to be done prior to starting the partnership process with the market stakeholders. The desk phase includes the route map design, business model design, asset or partner profiling, market research and development of the right documents.
- Exchange phase: this phase is activated as soon as the innovation team starts to validate the mandate given by the trifermed client with the selected stakeholders, and it moves up to the beginning of the negotiation phase, including confirmation of interest, supporting business model validation, supporting the due diligence process and the development of a business case (sometimes also including terms negotiation such as transfer prices, volumes and license fees).
- Negotiation phase: this phase begins once the terms are in discussion and will continue all the way up to the signing of a partnership agreement, including term sheet development, supporting term sheet negotiation, supporting agreement development (lead by the client’s lawyers) and final agreement negotiation (the trifermed team acting as a mediator).
“trifermed methodology for partnerships in health includes a validation process which works hand-in-hand with the partnering process.”
types of partnerships
From our experience at trifermed, partnerships are usually comprised of two types of innovators:
- innovators developing health solutions missing technological knowledge, competencies and/or capabilities (or the willingness to handle the innovation initiative “not alone”).
- innovators deploying health solutions missing assets in their portfolios.
As an example of innovators developing health solutions, the following video will present some of the challenges which most US companies face when developing and/or commercialising their business ex-USA and trifermed’s experience in helping health companies select the correct strategy. The same concept applies to and from other territories.
Canada represents an example of an excellent market to bring health innovation. Please see the following video.
As an example of innovators deploying health solutions in need of new assets, the following video will present trifermed’s experience in helping health companies develop their portfolios.
“trifermed has been supporting innovators to manage the innovation process in health based on trifermed’s standard operating procedures, today aligned with the latest ISO 56002:2019.”
At trifermed our understanding of “innovation” for a better future in health includes the following four pillars:
- new (incremental or radical) products, services and ways of doing things for prevention and wellbeing, diagnostic and/or treatment …
- that impact the society (meaning they reach the market that desires the solution)…
- that are driven by profitable businesses (which is attractive for private investors)…
- that are affordable for the payers; Business to Administration (Public Health), Business to Business, and Business to Customers.
According to ISO 56002:2019, the innovation process is divided into 5 steps:
- Identify and define opportunities
- Create concepts
- Validate concepts
- Develop solutions
- Deploy solutions
© ISO 56002:2019
The following video will highlight the activities that trifermed supports along the innovation process.
trifermed provides services designed to support two main sources of financing for health innovators:
- Public fundraising
- Alignment between private investors and innovators
support for public fundraising
trifermed provides services for researchers and start-ups looking for public fundraising throughout public programmes such as Horizon Europe.
The Commission’s proposal for Horizon Europe is an ambitious €100 billion research and innovation programme to succeed Horizon 2020.
Most of the funding agencies have decided to prioritise their funds towards translational research in order to address societal unmeet needs with a relatively short term to bring maximum benefits to society.
Joining forces in a world of open innovation, trifermed supports best practices for translational research.
trifermed will be the business partner of a science consortium, providing evidence-based, translational research focussed on deploying health solutions to society.
alignment between private inverstors and innovators
trifermed provides services for:
- start-ups looking for private funds
- private investors looking to validate their investments
Our role at trifermed is to prepare start-ups for their fundraising process, making sure that they will have validated concepts and business models to be more attractive for private investors.
From the design of the business model, to its validation with tens of health stakeholders, including the environmental analysis, trifermed support will reduce the uncertainties related to the innovation process and increase the probabilities of fundraising.
For private investors, trifermed will provide valuable insights in deciding where to allocate their investments and, once decided, to support the innovation process and collaborative partnerships for the invested companies.
“the trifermed pricing policy has been designed to be aligned with our clients needs.”
trifermed services can be engaged under two different approaches, depending on the client’s needs:
- On demand – “pay per view”: the trifermed client pays for the provided service, with the freedom to engage a single phase, phase-by-phase, having the option to stop the service at any point in time. At the moment that the service is terminated, trifermed will transfer all the ongoing tasks to the client’s management team.
- All included: the trifermed client engages a pre-paid pack of services that includes all the activities to be carried out, independently from the time that the process takes.
For more information about our pricing policy, please contact us.