For certain companies, working with bankers who know the ins and outs of their specific industry can make all the difference in creating confidence that their financial future is in good hands.
This has proven to be the case with Avobis Bio, a biotechnology research firm dedicated to advancing the development of implantable cell therapies to treat debilitating conditions without a cure. Though its mission is in line with other established biotech companies in the space, its banking needs are specific to supporting its current status as a joint venture startup and future fundraising needs.
This consideration was top of mind when it came time to evaluate treasury management solutions in early 2024. Avobis Bio was looking for a banking relationship that could provide not only financial products and services, but also informed guidance based on thorough knowledge of their industry. They found a match with PNC, as the bank was able to bring to bear not only the capabilities from its recently debuted Emerging Technology and Venture Banking group, but also the deep experience of its Pharmaceuticals & Life Sciences group.
A group of specialists from across these teams came together to evaluate Avobis Bio’s needs and objectives, and assembled solutions tailored to their business model. The result is a thriving banking relationship that is helping Avobis Bio continue to develop breakthrough solutions to patients, physicians, and healthcare systems around the world.
“With Avobis Bio operating from a differentiated position as a biotech joint venture, being able to lean on a team who really understands their industry and can help them from a strategic point of view is tremendously valuable,” said Justin Clementi, head of Emerging Technology and Venture Banking at PNC. “Our objective at PNC was to really listen so we could understand the details of what Avobis Bio needed, then pull together resources from our highly specialized banking teams to support them. By coming together and being collaborative, we’re able provide solutions to help them continue to advance their important mission.”
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PNC Corporate Banking combines the knowledge, insight, and decision making of a local team with the strength and resources of one of the country’s largest banks, to deliver banking and advisory solutions throughout a company’s life cycle. Find more details here about how PNC Corporate Banking can help your enterprise, or reach out to your PNC Relationship Manager.
