Service 02

Commercial Diligence

Hypothesis-driven diligence, buy-side and sell-side, that translates into a clear investment recommendation, calibrated to each stage of the deal.

Overview

Most commercial diligence is built to inform. Ours is built to decide. Every workstream we run ties back to a specific investment committee question, a specific valuation input, or a specific negotiating point, not a generic market overview that gets skimmed and shelved.

We combine primary research with physicians, payers, and KOLs, rigorous epidemiology and forecasting, and hands-on transaction experience to pressure-test the assumptions that matter most to your deal, whether you're evaluating an acquisition, an in-licensing opportunity, or your own asset ahead of a process.

Capabilities

Look to Blacklight for:

Buy-side commercial due diligence
Sell-side forecast & vendor due diligence
Market sizing & epidemiology assessment
Standard-of-care & competitive landscape analysis
KOL, physician & payer primary research
Pricing & market access assessment
Commercial forecasting & scenario modeling
Clinical-to-commercial translation risk assessment
Investment committee-ready diligence reports
Post-close value creation planning
Our Approach

Five steps, one investment decision.

Every engagement moves through the same disciplined sequence, whether it runs over three weeks or twelve.

01
Define IC questions

Align on the investment committee's key questions and decision criteria up front.

02
Characterize market opportunity

Build a defensible view of market size, growth, and competitive intensity.

03
Pressure-test adoption, pricing & access

Validate real-world dynamics directly with clinical and payer stakeholders.

04
Quantify value drivers & sensitivities

Model key drivers to estimate risk-adjusted commercial potential.

05
Drive the investment decision

Translate insight into a clear recommendation, including risks and key assumptions.

Case Study

Featured engagement

Exhibit: Featured Engagement
Diligence That Changed Valuation and Deal Structure

Assess the commercial opportunity of an AML asset to inform a buy-side investment decision.

Approach
  • Conducted structured interviews with physicians, KOLs, and payers to pressure-test adoption assumptions
  • Built a scenario-based commercial model spanning pricing, access, and competitive dynamics
  • Benchmarked the asset's positioning against emerging and approved AML therapies
Result
  • Identified two critical risks that materially reduced the asset's commercial upside
  • Findings reframed the valuation range and directly shaped negotiation strategy
  • Client proceeded with an adjusted offer reflecting the recalibrated risk profile

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