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Kigkurren 8D, 1. th.
DK-2300 Copenhagen
CVR 42297372

Kigkurren 8D, 1. th.
DK-2300 Copenhagen
CVR 42297372

Cases

Breye Therapeutics: Supporting management with flexible long-term CFO services

Posted 07/12/23

Intro

Big investments and a small but highly ambitious team. With their discoveries around treatments of eye diseases in diabetic patients, Breye needed a dynamic solution to support management with an experienced finance function, who could deliver professional reporting to the Board of Directors.

Client

Breye Therapeutics ApS

Project lead

Goals achieved

  • Streamlined board reporting
  • Resource optimization
  • Enhanced productivity

What we did

Biotech finance: A world of it’s own

Navigating the complex waters of financial management and strategic planning can be an overwhelming task, especially for biotech companies who are subject to extensive cash management and investor relations.

Breye is a perfect example of this.

With their new work around treatment of eye diseases in diabetic patients, they have received substantial investments from key players like Novo Holding and Sound Bioventures and as a result they needed flexible and experienced support to assist them with budgets, reporting, and strategic planning.

The challenge

The primary goals for the project were to establish a finance function capable of meeting board-level reporting standards. Breye needed specialists who could provide the necessary expertise but without the requirement for full-time employment

What did Breye aim to achieve with our support?

  • Establish a flexible solution, for a limited commitment of 5-10 hours per week, with high competences.
  • Optimize resources by working on consultancy terms to secure the right competencies in the finance function, thus making funds stretch further.

From the client

“Atlab has become a part of our team. They make sure our budgets are accurate, and they have professionalized our reporting for the Board of Directors. What’s more, they are always available, to support day-to-day operations and help clarify questions as they arise.”

 

– Ulrik Mouritzen, CEO at Breye

Result

In our ongoing collaboration with Breye we have taken responsibility of the financial board reporting and significantly freed up the time of the CEO, Ulrik Mouritzen, allowing him to focus on what he excels at and enjoys the most.

Our guiding principle is to spend time on what one does best, and with the extra set of eyes double-checking everything, we take one hundred percent responsibility for ensuring accuracy. This extends to our active participation in board meetings. In this case, we have become an integrated part of Breyes team, as our flexible approach has allowed us to provide the support they need, when they need it.

Key Take-Aways

When we look at this project, the learnings that stand out to us are:

  • The importance of a flexible and agile budget model that can easily be adapted to changing circumstances. 
Being able to adjust and understand the entity’s commitments has been invaluable.

 

  • The importance of long-term relationships between consultants and clients. With a collaboration like the one we have with Breye, it becomes clear that our focus goes beyond the scope of a single project or engagement. It becomes a journey of mutual growth, trust, and shared objectives. Such relationships allow us to really gain a profound understanding of our client’s industry, culture, and specific needs which enables us to provide even more effective solutions.