Afrigen Biologics (Pty) Ltd. (Afrigen) was a biotech firm with a track record of solid performance in the sector with its leadership in sharing mRNA technology and developing a vaccine for COVID-19. By August 2024, with the threat of the COVID-19 pandemic under control, the firm was ready to capitalize on its track record and pivot. Petro Terblanche, CEO of Afrigen, needed to decide, therefore, what the firm’s next steps would be. What should the company's new business model be after the end of the current mRNA technology transfer program? How could Afrigen position itself in the African biopharmaceutical value chain? How could it leverage its existing alliances? Should Afrigen pursue international licensing or position itself to be acquired?