Case | HBS Case Collection | December 2006 (Revised August 2008)

Pervasis Therapeutics, Inc.

by Robert F. Higgins and Virginia Fuller

Abstract

In May 2005, Steve Bollinger was about to become president and chief operating officer of Pervasis Therapeutics, a small cell therapy start-up in Cambridge, Mass. If proven successful, Pervasis' product, Vascugel, could change the way vascular disease is treated and have a major impact in a large and underserved population. However, Vascugel had not yet gone into human clinical trials, and getting it to market would mean navigating the FDA approval process, as well as raising the capital necessary to finance the endeavor. It was up to Bollinger to decide on a strategy for Vascugel's clinical trials. In addition, he would have to decide how much money the company needed to raise, taking into account the interests of the company's founders and existing venture investors. Finally, while Bollinger was expected to lead the company for the next two to three years, Pervasis' board was planning to launch a search for a permanent CEO in the future.

Keywords: Business Startups; Venture Capital; Financial Strategy; Governing Rules, Regulations, and Reforms; Health Care and Treatment; Health Testing and Trials; Health Industry; Cambridge;

Citation:

Higgins, Robert F., and Virginia Fuller. "Pervasis Therapeutics, Inc." Harvard Business School Case 807-026, December 2006. (Revised August 2008.)