The Challenge

When Ten Bay Bio launched in July 2024 with venture backing, CEO Andy Kadlec knew the company needed reliable financial support from the start. As a lean, virtual biotech team, they faced the unique challenge of navigating complex financial and tax requirements specific to the biotech industry.

Kadlec had seen firsthand how difficult it was to find the right partner. General accounting firms lacked the industry context, requiring months of education with little progress. On the other end, biotech-specialized firms offered overly comprehensive packages at costs misaligned with an early-stage company’s needs.

“We needed someone who knew biotech, but also someone who could flex with us,” Kadlec explained. “What we didn’t need was a high fixed-cost model that came with services we weren’t ready for.”

The Solution

Fine Point Consulting stepped in with the right balance:

• Flexible pricing aligned with Ten Bay’s stage.
• A dedicated accounting contact who understood their needs.
• Fast, accurate financial statements that required minimal setup or rework.

Kadlec recalls the difference immediately: “We spent very little time framing what we needed to Adam, and his first set of financial statements were near-perfect. After that, we barely had to think about financials.”

Fine Point’s responsiveness and precision gave Kadlec confidence that their books were done right, without diverting valuable time away from biotech innovation.

The Experience

The relationship quickly proved seamless. “In one word — frictionless,” said Kadlec. “Adam is amazing. Great personality and super, super reliable. Always on time. Always with quality. As a CEO and sole employee, that’s critical.”

Fine Point also stood out for its personal touch. “We never felt like just one of many clients. We had a dedicated person who really knew what we wanted,” Kadlec shared. “And because they’re local, we love that we’re also supporting the Midwest ecosystem.”

The Results

With Fine Point managing CFO, accounting and tax services, Ten Bay Bio gained:

• Confidence in financial accuracy.
• Time to focus entirely on science and business growth.
• A scalable partner ready to expand services as the company evolves.

Advice to Other Startups

Kadlec’s message to other venture-backed leaders is clear: ‍

"Get finances right from the start. You do NOT want to go back and fix months or years of poor practices. You need someone with experience, tailored to your stage and industry. For us, Fine Point was the perfect fit.”

By partnering with Fine Point Consulting, Ten Bay Bio eliminated financial stress, gained a trusted partner, and ensured a solid foundation for scaling biotech innovation.

“Adam is just fantastic,” Kadlec emphasized. “We’ve told him this several times. Fine Point has been exactly what we needed.”

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