Biotech
Better Grant Tracking Improvements for Biotech Companies
This blog provides seven steps that biotech companies can take to improve grant tracking and
Menu
Expert Financial Support for Biotech Companies
Partner with a team that understands the unique challenges biotech companies face and can give you the financial insight you need.
The Complex Financial Landscape of Biotech Companies
Biotech companies operate in a complex and dynamic environment where accounting and financial management are simply different. Unlike other industries, biotech companies face long research and development cycles, often with lean back-office teams, making it essential to maximize operational efficiencies and streamline processes. Furthermore, these companies are subject to specific regulations and compliance requirements, with outside investors and venture capital playing a significant role.
Our team of experts understands the complex and often unpredictable nature of the industry and can provide the financial insight and support you need to succeed. Whether you are developing new pharmaceuticals, medical equipment, or gene therapies, we can provide a complete suite of accounting, finance, and tax services to help you streamline your processes and increase operational efficiencies. By partnering with Scrubbed, biotech companies can benefit from the flexibility, scalability, and cost-effectiveness of outsourcing, and focus on their core business of advancing scientific innovation.
The Complex Financial Landscape of Biotech Companies
Biotech companies operate in a complex and dynamic environment where accounting and financial management are simply different. Unlike other industries, biotech companies face long research and development cycles, often with lean back-office teams, making it essential to maximize operational efficiencies and streamline processes. Furthermore, these companies are subject to specific regulations and compliance requirements, with outside investors and venture capital playing a significant role.
Our team of experts understands the complex and often unpredictable nature of the industry and can provide the financial insight and support you need to succeed. Whether you are developing new pharmaceuticals, medical equipment, or gene therapies, we can provide a complete suite of accounting, finance, and tax services to help you streamline your processes and increase operational efficiencies. By partnering with Scrubbed, biotech companies can benefit from the flexibility, scalability, and cost-effectiveness of outsourcing, and focus on their core business of advancing scientific innovation.
Streamline Operations, Stay
Compliant, and Build for the
Future with Scrubbed
At Scrubbed, we have specialized knowledge and experience helping biotech companies with the accounting and financial services they need to run efficiently and meet the compliance requirements specific to your industry. Whether you have a CFO that needs support or prefer to outsource your entire accounting and finance department, we have the team in place to deliver the reporting and advice you require to make informed business decisions.
Streamline Operations, Stay
Compliant, and Build for the
Future with Scrubbed
At Scrubbed, we have specialized knowledge and experience helping biotech companies with the accounting and financial services they need to run efficiently and meet the compliance requirements specific to your industry. Whether you have a CFO that needs support or prefer to outsource your entire accounting and finance department, we have the team in place to deliver the reporting and advice you require to make informed business decisions.
Streamline Operations, Stay
Compliant, and Build for the
Future with Scrubbed
At Scrubbed, we have specialized knowledge and experience helping biotech companies with the accounting and financial services they need to run efficiently and meet the compliance requirements specific to your industry. Whether you have a CFO that needs support or prefer to outsource your entire accounting and finance department, we have the team in place to deliver the reporting and advice you require to make informed business decisions.
Depending on the stage and needs of your business, we can provide the following services:
Financial Accounting
- New business planning and accounting system set-up
- Manage day-to-day bookkeeping and accounting
- Preparing and compiling audit-ready financial statements
- Grant/investment tracking and monitoring
Taxation
- Research and development tax credit planning
- Planning for and preparation of federal, state, and local tax returns
Corporate Finance
- Build and manage your budget
- Raising and tracking capital investments
- Preparing forecasts and projected statements of income and cash flow
- Cost management and budget adjustment
Risk Advisory
- Due diligence reviews of financials for acquisitions and consolidations
- Internal Audit Co-Sourcing/Outsourcing
- SOX Compliance Assessment/Preparedness Program
- SOC Audit Preparedness
- Cybersecurity Services
Technical Accounting
- Create Technical Position Paper/White Paper Summary
- Support in technical accounting under IFRS/US GAAP
- Analyze revenue contracts in accordance with ASC 606/IFRS 15
Analyze financial instruments and assess expected credit loss model in accordance with ASC 326/IFRS 9
Analyze lease contracts analysis in accordance with ASC 842/IFRS 16
Assist in adoption of other complex emerging standards
Conduct an audit readiness program – planning, execution, and completion
Facilitate Financial Statement conversions between accounting frameworks (e.g. Local GAAP to US GAAP, IFRS to US GAAP, and vice versa)
Conduct an IPO readiness program
Account and report impact of significant unusual transactions
Support in transaction structure, including contract consultancy (acquisitions and readiness)
ESG
- Prepare sustainability reports and financial statements disclosures that meet sustainability standards (e.g., US ESG Proposals, ESRS, GRI, SASB, TCFD, etc.).
- Through our GRI Certified Sustainability Professional, conduct comprehensive training on ESG and GRI principles to help companies demonstrate their commitment to sustainability, attract investors, and improve their corporate reputation.
Assess ESG preparedness in terms of dealing with GHG emissions, value chain and other stakeholder concerns.
Account and report ESG-related assets and transactions.
Establish ESG policies and procedures in compliance with sustainability standards.
Schedule Consultation with Scrubbed
Case Study: Rejuvenation Technologies Taps Scrubbed for Daily Accounting and Reporting
“Scrubbed matched up with everything Rejuvenation
Technologies was looking for in an outsourced accounting
partner,” said Director of Finance and Administration Robin Holbrook.
Innovate with Confidence:
Outsource Your Financial Tasks to Scrubbed, Your Dedicated Partner in the Biotech Industry
We understand that staying on top of financial reporting and tax strategy is essential for your success, and we’re committed to creating operational efficiencies that will help your company thrive. We work with you to become a vital part of your team, adapting to your needs and providing the information you need to keep stakeholders confident in your work. And as you move from R&D to market, our experienced professionals can help you evolve and maximize your potential for success
Innovate with Confidence:
Outsource Your Financial Tasks to Scrubbed, Your Dedicated Partner in the Biotech Industry
We understand that staying on top of financial reporting and tax strategy is essential for your success, and we’re committed to creating operational efficiencies that will help your company thrive. We work with you to become a vital part of your team, adapting to your needs and providing the information you need to keep stakeholders confident in your work. And as you move from R&D to market, our experienced professionals can help you evolve and maximize your potential for success
Empowering Biotech Companies with Expert Financial Insights
Blogs
Accounting
Why the Right Financial Plan is Critical for Biotech Startups
Given the current market conditions, a slowdown in private equity investment within the sector is
Guides & Case Studies
Guide
Complete Guide to the R&D Tax Credit for Biotech Companies
In the dynamic landscape of the biotech industry, companies are constantly innovating, developing new drugs,
Case Study
Outsourced Accounting Supports External Audit Requirements for Early Stage Biotech Mantra Bio
Mantra Bio, an early-stage biotech company, faced the intricate challenge of maintaining accurate financial records
Guide
The Biotech Founder’s Guide to Early-Stage Funding
Unlike less capital-intensive industries, the biotech field isn’t one where a founder’s own assets can
Case Study
Rejuvenation Technologies Taps Scrubbed for Daily Accounting and Reporting
Rejuvenation Technologies Taps Scrubbed for Daily Accounting and Reporting
“Scrubbed matched up with everything Rejuvenation
Kevin Musni
Kevin has more than 8 years of professional experience focusing on general and real estate accounting, budget and cash flow analyses, and financial modeling. His expertise is on business process optimization, systems migration, and developing reasonable business policies. He is adept at utilizing multiple reporting software and other SaaS interfaces. He currently manages a mixture of Real Estate and Biotechnology groups in Scrubbed. Prior to Scrubbed, he worked at the Fraud, Claims, and Disputes Unit of JPMorgan Chase & Co.
Ready for Scrubbed to help?
Want to learn more? Let’s chat about how we can help by managing your day-to-day accounting needs, or taking on a larger financial management role, so you can continue to deliver on your mission-critical goals.
