TWC Group :: Press Archive

Collegeville, PA (December 23, 2002) – With the help of T. Williams Consulting's (TWC's) Business Launch team, Octagon Research Solutions received $3.8 million in first round financing from Edison Venture Fund and Milestone Venture Partners. The newly raised funds will be used to execute sales and marketing initiatives.

Based in King of Prussia, PA, Octagon Research Solutions offers software and services to the pharmaceutical industry to manage the entire drug development cycle, from clinical trial to FDA submission. The company had grown organically as a services business since its incorporation in 1999. They engaged TWC in October to help them prepare for fundraising. Much of TWC's efforts were focused on assisting Octagon with commercialization of their proprietary, in-house software.

According to Dan McKinney, managing director of Business Launch at TWC, most services companies have difficulty becoming a product-focused company. To better position Octagon for meeting investors, TWC helped the company to define its product architecture, pricing strategy, product roadmap, and go-to-market strategy.

TWC was also instrumental in refining Octagon's services strategy. "Together, TWC and Octagon identified distinct services modules," said McKinney, "Then, we tied the modules into a methodology that leverages Octagon's proprietary software. In the end, we created a very unique and compelling product/services offering. No other competitor has both products and services that span the whole drug development cycle."

TWC's Business Launch team helps early stage clients prepare for their first fundraising effort by making rapid, focused improvements to their businesses. The goal is to position clients as "Investments of Choice" and to increase their odds of receiving funding in the shortest time possible. TWC's Executive Search team was also engaged to help Octagon source and hire a much-needed Assistant Controller.

Said Octagon president and CEO Jim Walker, "Bringing TWC in to assist us in refining our market offering and jump-starting our fund-raising efforts was one of the best business decisions we could have made. With their assistance, guidance, and expertise we were able to close on $3.8 million in Series A financing within 6 months."

Founded in 1996, TWC is a world-class management consulting firm that shapes companies to succeed. We provide a single point of contact for the outsourcing of critical needs, including Business Launch Services, Human Capital Solutions, and Strategic Assessments. From start-ups to Fortune 1000 firms, our track record of helping companies achieve success is impressive and includes experience in Biotech, Energy, Financial Services, Information Technology, Optics, Pharmaceuticals, Telecommunications, and Wireless. Additional information about TWC may be found at www.twcgroup.com.