Yotam Levin, CEO at NanoPass
Description: NanoPass is a biomedical company that develops painless intradermal delivery solutions for vaccines.
When did you start working with Nextage?
We’ve been working with Nextage for over 5 years. We worked with others in the past, but now we’re with Nextage – they help us with everything. We work with them both on the strategic level and on the day-to-day level.
What do they help you with?
Itzik Lev, our Nextage CFO, works with us mostly on strategy and high-level discussions with our auditors, bankers, and the Board – he provides strategic information and feedback to our board members. They also provide us with controller services. We’re a commercial company, and they take care of everything from sales to stock global operations that require monthly financial reporting. They also take care of our day-to-day books and accounting, including salaries and fringe benefits. Some of our shareholders are publicly traded companies that have a whole set of financial reporting requirements that go beyond what a usual startup has to provide. In addition, we receive grants from the Office of the Chief Scientist of Israel, and they do the annual and quarterly reports for them.
What’s your working relationship like?
It’s very good. We have a lot of work that is very detailed, and we’re always working together with Nextage to improve the workflow. It requires a lot of process management, and they’re always working with us to make it work and to improve. With so many things going on, there are always issues and challenges, and there’s a tremendous amount of good will and dialogue to improve our processes and not repeat small mistakes. They are very motivated to solve every problem that comes up, to make sure it does not get repeated and to grow as a learning organization. We’ve been successful working on this.
How have they helped you?
One of the projects we worked on was to build 5-year projections from financial models to present to investors, stakeholders, and bankers. So, they’ve also worked with on the investment sourcing side. Whenever I have a question related to transactions of fund raising or corporate reporting, I consult with Itzik and he always finds me the answer on a very short turnaround. If we have a tax questions or issue with currency protection or an arbitrage question, he’s able to get the answer from someone within that professional space in less than 24 hours. Obviously, this is very helpful.
What’s the benefit of working with them?
They really do tailor make their solutions to fit each company’s needs. Whether it’s a small, large, or fast-growing company, they’re able to provide a customized solution for each. They’re very good at this.