Life Sciences
The life sciences industry operates in a fast-paced, dynamic environment that requires you to be continuously focused on your business operations. Pharmaceutical, biotech and medical device companies operate in a highly competitive market saturated with innovation, disruption and ever-changing regulatory standards. Every company’s needs differ based on their current life cycle stage or stage of product development. Having a trusted advisor who is always available to offer sound guidance and novel and effective solutions can make all the difference in your company’s growth and success.
Withum’s Life Sciences Services Team offers innovative advisory, accounting, audit and tax solutions to privately-owned companies, companies with venture capital, angel or private equity-backing as well as and publicly traded companies. Whether you are an early-stage high-growth startup or an established and growing mature company, pursuing an IPO, secondary offerings or are entering into an exit transaction, our life sciences accountants, tax specialists and business consultants offer solutions backed by our collective knowledge and experience in the life science space.
Our goal is to give you the time you need to focus on your trade secrets, research and development, drive growth and provide unique value propositions within the market.
Life Sciences Industry Challenges and Trends
For early-stage and development-stage companies, one of the largest expenses typically incurred are costs associated with research and development activities (R&D). When developing new products and ideas, opportunities may exist to reduce payroll tax liability by qualifying for a refundable R&D tax credit.
Our Solutions
Preparing for an IPO (initial public offering) is an enormous task for any company. Going public requires credible, audited financial statements under PCAOB guidelines that will comply with strict SEC regulations. Withum performs PCAOB audits and ensures financial.
Our Solutions
Properly capturing and understanding company data, especially for early-stage companies, can be difficult without the right tools. Using data analytics and artificial intelligence (AI) can help you store, share, and analyze your data easily to make smarter decisions for your business.
Our Solutions
Life sciences companies are a prime target for cyber crime due to the nature and structure of your business. By identifying areas of vulnerability in your IT infrastructure, you can better mitigate the risk of cyber threats by adopting effective cyber and information security strategies.
Our Solutions
The rapid growth of your life science company can often put a strain on internal finance and accounting operations. Outsourced accounting, finance and CFO services can create greater flexibility, compliance and cost savings in a scalable manner to support the growth of your business.
Our Solutions
Service at Every Stage of Development
Life Sciences Accounting and Tax Services
- Assurance and Accounting
- IPO and SEC Services
- Special Purpose Acquisition Company
- Evaluation of Mergers, Acquisitions and Joint Ventures
- Licensing and Royalty Audits
- ERISA Audits
- Government Grants and SBIR | STTR Services
- ASC 606Adoption and Ongoing Support
- Tax Compliance
- Tax Structuring
- R&D Tax Credits
- NOL Sales
- State and Local Incentive Programs
- Evaluation of Section 382 NOL Carryovers
- Cost Segregation Studies
- International Tax Matters and Planning
- State Income and Sales Tax Nexus Studies
- Structure of Employee Compensation Plans
Life Sciences Advisory Services
- Strategic Alliance and Partnership Consulting
- Buy-Sell Arrangements
- Buy-Side and Sell-Side Due Diligence
- Business Combinations Valuation and Purchase Price Accounting
- Stock-Based Compensation Valuation/409(A) Valuations
- In-Process R&D Valuations
- Forensic and Damage Claim Services
- Digital and Technology Transformation
- Business Management Consulting
- Business Process Services
- Outsourced Accounting Systems and Services (OASyS)
- Finances Transformation and CFO Solutions
- Cybersecurity Solutions and Services (including on-site incident response)
- Internal Control Reviews and Outsourcing
- Internal Audit Outsourcing
- Benefits Benchmarking Analysis
Withum’s Life Science Services Team is an active member of national and local centers of influence.
Contact Us
For more information or to discuss your business needs, contact Withum’s Life Science Services Team.
Leadership
Insights
How Adopting the Orphan Drug Credit Benefits Qualifying Life Science Companies
Pharmaceutical innovators are searching for additional tax relief after the new Section 174 R&E capitalization requirement may not go away. The Orphan Drug Credit (“ODC”) represents a significant incentive offered […]
Innovation Meets Incentives: Grants Available to Massachusetts Life Sciences Companies
Are you a Massachusetts non-profit or academic institution with a focus in life science? Or perhaps you’re a for-profit Massachusetts life science company, collaborating with a Massachusetts non-profit. If so, […]
Do You Need Help With 174?
Many companies are experiencing unfavorable cash tax payments when filing their 2022 federal income tax returns this fall, as federal law no longer allows an immediate deduction for Section 174 […]
Testimonial
Getting to this point wasn’t always as straightforward as we would have hoped, but your support, expertise and dedication throughout the process always made for one less major complexity which is far too often not the case. Thanks to the Withum team for everything. We’re looking forward to moving forward on both the clinical front and business front and are glad you’re both on the audit team!
Tom Fitzgerald, CFO, Director | TransCode Therapeutics, Inc.