Medpace: CRO Selection Process

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You mentioned that as the medical director, you were involved in business development and monitoring work. Could you walk me through a typical process from beginning to end when a new biotech company considers working with Medpace? Could you explain that process for you?

Internally, if a company requests a bid or program, there's a strategy meeting every morning in the Cincinnati office. August typically attends virtually if he's in Florida or in person if he's in Ohio. We discuss all the new RFPs. The process used to involve categorizing clients as A, B, or C. Category A involved giving the best resources and team, usually for clients we've worked with before. Category B was for clients that are a good fit and have good funding. Category C included large pharma or big companies asking for a small piece of work or completely unknown clients like the seven-person private company I described. Category C doesn't mean they're ignored; it means they don't get the most meticulous process for budget and others due to the labor-intensive nature. For A, you use your best team and spend a lot of time. B is intermediate, and C is high risk, high reward.

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From your perspective, what would you say is Medpace's primary value to a sponsor?

I believe they are one of the best CROs globally for small sponsors. They focus on a niche market segment, specifically small biotech companies. For instance, private biotechs with seed or Series A funding, typically between $50 to $200 million. That's their first strength. They are also very strong in rare diseases, particularly in pediatrics, oncology, and metabolic areas. Neurology isn't their strongest area yet, but they are improving and are probably moderate in that field. However, in rare diseases, pediatrics, oncology, metabolic, and even some infectious diseases, they excel.

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From your perspective, what would you say is Medpace's primary value to a sponsor?

Secondly, they are a full-service CRO, which is unique for their size. Many CROs like WWCT, RO, or PSI claim to be full-service but aren't truly. Medpace is genuinely a full-service CRO. This means they have their own EDC, central lab, imaging, and expertise in medical, regulatory, quality, and safety. They used to have phase one capabilities, though I'm unsure if that's still the case. Assuming it is, they can handle everything from start to finish for small biotech companies.

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