01 · What the Engagement Includes
Four ways to use us on a deal.
  • Regulatory and scientific diligence for a specific transaction

    A focused assessment of a target's regulatory pathway, classification, predicate strength, submission readiness, and the scientific evidence behind its claims, delivered on the timeline a live deal actually requires.

  • FDA compliance history review

    Review of a target's FDA interaction history, including Form 483 observations, Warning Letters, and deficiency responses, to surface compliance risk that standard commercial diligence typically misses.

  • Predicate and pathway risk assessment

    An honest read on whether the target's stated regulatory pathway and predicate strategy will actually hold up under FDA review, before that assumption is priced into the deal.

  • Empanelment for ongoing portfolio-wide diligence

    For funds with recurring healthcare deal flow, we act as a standing, pre-approved diligence resource across the pipeline rather than a one-off engagement rebuilt from scratch each time.

02 · What the Review Covers
Scientific, regulatory, and quality review of the target.
Where a target is a drug or biologic, the same review extends to its CMC package and inspection readiness.
Scientific review
  • Whether the technology works as claimed: the mechanism, the performance claims, and the evidence behind them.
  • Test data quality and integrity: how the data was generated, and whether the methods would stand up to FDA review.
  • Materials, biocompatibility, and chemistry for anything that contacts the body.
  • Whether the planned bench, analytical, and clinical evidence matches the claims being made.
Regulatory review
  • FDA pathway and classification: 510(k), De Novo, PMA, or another route, and whether the claimed one is realistic.
  • Predicate strength and intended-use claims.
  • Prior FDA feedback, including pre-submission meetings and any deficiency correspondence.
  • Submission readiness, likely timeline, and the cost of reaching clearance or approval.
Quality, compliance, and CMC
  • Manufacturing and quality system readiness: whether the product can be built consistently.
  • FDA inspection and compliance history: Form 483 observations, Warning Letters, and how they were closed out.
  • Data integrity across development, testing, and manufacturing records.
  • For drug and biologic targets: the CMC package, and readiness for a pre-approval or GMP inspection.
03 · Common Red Flags
What tends to surface in regulatory diligence.
Patterns that change a valuation or a timeline, and that commercial diligence rarely catches.
A predicate that is not truly comparable
A 510(k) that leans on a product with a different intended use or technological characteristics risks a finding that the device is not substantially equivalent.
A pathway assumed, not tested
A whole plan built on a route with no pre-submission feedback from FDA.
Claims ahead of the evidence
Indications for use or performance claims that go beyond what the data supports.
Testing gaps found late
Missing biocompatibility, chemical characterization, or performance testing that adds cost and delay after the raise.
Open compliance findings
Form 483 observations or Warning Letters at the manufacturer that are unresolved, or were closed out weakly.
Design changes after testing
Changes made after verification or validation that can trigger retesting or a new submission.
04 · How Funds Work With Us
Match the engagement to the stage of the deal.
Before a term sheet
A regulatory and scientific read on a target, to decide whether it earns full diligence.
Before closing
A full assessment of pathway, evidence, compliance history, and submission readiness, to sit alongside commercial and financial diligence.
Across a pipeline
A standing, empanelled resource for funds with recurring healthcare deal flow.
With us in the round
Where you want a co-investor with regulatory depth, Tacticity Capital can invest alongside you, within our usual range.
05 · Common Questions
Before you engage us.

Which regulator do you cover?

U.S. FDA. Our team's review and inspection experience is with FDA.

Can you review drug and biologic targets as well as devices?

Yes, for CMC and inspection readiness, led by Dr. Mamta Gautam-Basak, who spent 24+ years at FDA including senior CMC roles at CDER. Device diligence draws on Dr. Tanmay Jain's experience as a CDRH scientist and lead reviewer. Meet the team.

What do you need from the target?

Access to regulatory and quality documents, such as submissions, FDA correspondence, test reports, and design and quality records, plus time with the technical team.

Can we engage you for a single deal?

Yes. Single-transaction engagements and standing arrangements across a pipeline are both available.

Evaluating a healthcare or medtech deal? Let's connect.