Danforth Quarterly Flash | 2017 Year in Review
A Banner Year by All Accounts
We are pleased to share the following recap of our work in 2017 -- a year marked by exciting growth and expansion. We have advanced from a consultancy of two in 2011 to a team of greater than 50, reflecting the market need for finance and strategy experts who know the business, vernacular and key contacts of the life science and healthcare sectors.

In 2017 we extended our reach even further, adding resources in the fast-growing New York metro and western U.S. markets, with plans to add more geographies this year. We launched a healthcare services practice that was just formally announced this week. And finally, we are happy to share that we have added Technical Accounting to our wide range of service offerings (see details below). Additional 2017 highlights include:

  • $615M raised for clients led by Danforth CFOs
  • 151 clients served in the year, totaling 270 served since inception
  • Wide-ranging support beyond the established life science clusters, including clients in Kentucky, Ohio and Texas, and overseas in France, Germany, the UK and Israel
  • 15 new consultants joined our talented team

We are ever thankful for your business and support!
Danforth Names Paul Falvey Director of Healthcare Services Practice
30-year veteran of the healthcare industry brings deep expertise in the strategic and operating needs of healthcare service companies, including unique business models and revenue cycle management. Read more
Danforth Expands with Appointment of Jeff Rona as Director of West Region
Extending service to clients in the Rocky Mountain states, Texas and the West Coast under the direction of Jeff Rona, former investment banker and strategic financial executive in the life science sector with 25+ years experience. Read more
Danforth Expands New York Metro Practice to Support Local Life Science Cluster
Adding local leadership and access to our team of consultants under the direction of Heather Kiessling, a CFO with 25+ years of experience in the pharmaceutical and medical equipment industries. Read more
Danforth Names Hamilton Mehlman Chief Operating Officer
Extensive background in life sciences and finance, including senior roles in corporate management, product and business development, strategic consulting and institutional investment management. Read more
Danforth in the Spotlight
We are making headlines of our own! From ringing the opening bell at NYSE to a feature in CFO Magazine (see right), we are excited to generate greater visibility for the brand that we've built.

With our breadth of experience, we are increasingly called upon to present on subjects ranging from IPO readiness to early stage fundraising. In 2017 our co-founders were among the featured speakers at the following events.

  • Deloitte IPO Readiness Workshop
  • NYSE Life Sciences IPO Summit
  • Boston CEO
  • NASDAQ IPO Readiness Forum
  • Marcum's Boston Life Science Challenges to Be Aware of in 2017

We were additionally proud to associate our brand with a number of important charitable sponsorships.

  • Life Science Cares Impact Breakfast
  • Birthday Shuffle Benefit for Birthday Wishes
  • Support Center for Child Advocates
  • Special Olympics Massachusetts
  • InnerCity Weightlifting
Interim CFO Firm Succeeds by Keeping Sights Narrow

If you're a CFO, you know the option is always out there: shed the nerve-jangling life of a full-time finance chief, hang a shingle, and begin providing finance services to multiple clients on an interim or part-time basis.

Read more
ww2.cfo.com
IPO Success Story
Apellis Pharmaceuticals achieved the third biggest life science IPO of 2017 with $150 million raised, yet the groundwork was laid well beforehand – beginning with its S-1 filing in 2015 and subsequent search for a CFO to manage the next steps. Headquartered in Louisville, Kentucky, where experienced life science executives are in shorter supply, the company was advised by investor Morningside Ventures to consider an alternative: an engagement with Danforth Advisors to access the industry’s top talent on a flexible, part-time basis.

Daniel Geffken, Danforth’s Founding Managing Director, was enlisted as interim CFO with a long track record of managing successful IPOs for life science companies. Read more
Private Financing Success Story
In the capital-intensive world of life science start-ups, it pays to go lean. Operational and finance roles are often kept to the bare minimum in order to double down on research and development. For Centrexion Therapeutics, the answer was outsourcing to Danforth Advisors – who have provided scalable resources ranging from CFO to controller for the past four years.

Centrexion first turned to Danforth in 2014, bringing Gregg Beloff on board as CFO. The company had a controller on staff but lacked senior-level experience in the areas of financing strategy and execution. Gregg became an integral member of the management team and, under his direction, Centrexion secured over 75% of its total funds raised to date. Read more
Additional 2017 Client Highlights
We share your success and congratulate our clients who achieved important milestones at all corporate stages. The following is a sample of highlights. 
Public Offerings
$150M IPO
November 13, 2017
$45.5M IPO
September 22, 2017
$8M Public Offering
November 3, 2017
$138M IPO
October 10, 2017
$151.3M Public Offering
September 19, 2017
Private Financings
$52M Series B Round

$83.5 Series B Round
$55M Series A Round
$103M Series A Round
$49M Series A Round
$60M Series E Round

$50M Series A Round
$47.6M Series A Round
$41M Mezzanine Round

$14M Series A Round
$30M Series A Round
$6M Private Placement
Strategic Transactions
Reverse Merger and $40M Private Placement
Option Agreement with Allergan
Reverse Merger and Sale of Assets to Dare Bioscience
Acquisition by Otsuka Pharmaceutical
Introducing Technical Accounting Services

We were recently joined by two highly-qualified technical accounting consultants and plan to rapidly expand this team. Their services are immediately available to research and draft white papers on a variety of matters, including stock based compensation, complex equity and debt instruments, new revenue recognition considerations, accounting for complex contracts and other issues requiring a complex policy determination.  

“We pride ourselves on our deep understanding of the complex financing and accounting requirements of life science and healthcare companies. The sophistication and optionality of the deal structures we're seeing today are, in many cases, unique to our client universe,. Most of our clients now require some level of technical accounting support, and adding this service is a logical extension of our capabilities," said Daniel Geffken.
  
Please contact Hamilton Mehlman or Christine Boehning for consultant availability and additional information.
We're Hiring!
Danforth is always looking for talented finance professionals to join our team of consultants, ranging from controllers to CFOs. Please contact Christine Boehning for information about flexible, part-time opportunities both within and beyond the Boston area.