Background

A leading CDMO specializing in high-potent & Antibody-Drug Conjugates (ADC) fill-finish sought to assess its strategic position and capture further growth opportunities within the rapidly expanding ADC market. Facing intensifying competition and evolving customer needs across the ADC supply chain, the client aimed to evaluate its right-to-win in ADC adjacencies, define investment priorities, and establish a robust ADC growth plan across technologies, geographies and customer segments.

Our approach

In eight weeks, Larka executed a comprehensive strategic market and capability assessment integrating internal diagnostics, external market analysis, and growth modeling. Key workstreams included: (i) Internal Diagnostic – assessment of ADC-relevant capabilities, capacities, CapEx potential, and customer base value creation potential, (ii) External Diagnostic – analysis of ADC market structure and dynamics, including technology trends, competitive landscape, supply chain linkages, and customer purchasing behavior across geographies (USA and/or Europe) and customer types (Biotech/Pharma), (iii) Right-to-Win Assessment – competitive intensity and evaluation of customer acquisition potential within ADC Bioconjugation and Fill & Finish across geographies and customer segments, (iv) Growth Strategy Development – strategic sizing and prioritization of ADC expansion opportunities, supported by a multi-dimensional assessment of M&A, partnership, and organic growth options with detailed assessment of CapEx, implementation complexity, and geographic strategy, and (v) M&A and Partnership Scouting – screening of relevant acquisition targets and strategic partners.

Outcome

The engagement led to a $10M+ investment in Europe to establish a new clinical-scale ADC bioconjugation suite, enhancing development capabilities from bioconjugation through F&F. In parallel, the client entered a strategic alliance in the USA with a major ADC CDMO player to deliver integrated Bioconjugation–F&F solutions, streamlining ADC development and reinforcing its position across the ADC supply chain in Europe and the USA.