Start / Fund / Grow
ProSciento is a specialty clinical research organization (CRO) focused exclusively on metabolic diseases. ProSciento’s portfolio of global services provides flexible solutions to meet the specific needs of its clients, which range from large pharma to virtual and small biotechnology companies. By connecting clients, partners and patients, ProSciento advances clinical research and the development of breakthrough treatments for metabolic diseases.
Before we became outside corporate counsel to ProSciento almost ten years ago, ProSciento had received legal assistance from a large national law firm. At that time, ProSciento was not satisfied with its attorneys primarily for two reasons. First, the large law firm did not treat ProSciento like a priority – it was not working with the A-team attorneys and there was a general lack of responsiveness. And second, the legal bills were excessive, especially given the high hourly billing rates together with the subpar service levels.
After engaging us as counsel, we stepped in and got to work. We first helped the company with some critical corporate restructuring work in order to reset the legal foundation for future business growth. Over time, we have become ProSciento’s outside general counsel, covering a range of business, legal and compliance matters. Among other things, we have worked with ProSciento to implement a stock incentive plan and administer various stock option awards. We attend all meetings of the Board of Directors and make sure that the company’s corporate governance and corporate records are organized and in compliance.
As a CRO, ProSciento works and collaborates with some of the world’s leading companies. Accordingly, its service, collaboration and other commercial contracts typically are very complex, long and detailed. We provide contractual support to ProSciento on these contractual matters, sometimes by preparing and providing the initial drafts and other times reviewing and responding to contracts delivered by the other parties.
ProSciento is a dynamic company that is growing and evolving. In response, we continue to expand and adapt our services, and how we deliver them, to meet its changing needs. Over the years, however, there has been no substitute for solid legal “blocking and tackling” – attention to detail, identifying potential legal issues in advance, good recordkeeping and organization and follow-up and follow-through.