NetSuite OneWorld Uplift Implementation for a Cross-Border Biotech Acquisition

Client: Nuvation Bio

Acquisition: AnHeart Therapeutics

Many firms outgrow their original NetSuite implementation after their first acquisition. When that acquisition crosses borders in a tightly regulated industry like biotech, the challenge increases greatly.

Following its acquisition of AnHeart Therapeutics, Nuvation Bio needed to transform its NetSuite environment into a global, multi-entity structure supporting both U.S. GAAP and China CAS reporting under intense regulatory deadlines.

In just eight effective working weeks, Opal Creek delivered a OneWorld uplift integrating 13 subsidiaries, migrating historical data, and establishing a unified global reporting framework.

The Situation

When Nuvation Bio acquired AnHeart Therapeutics in April 2024, the finance team faced a high-stakes mandate:

• Integrate a China-based biotech into NetSuite
• Transition from single-entity configuration to NetSuite OneWorld
• Implement multi-currency and multi-book accounting
• Maintain compliance with both U.S. GAAP and China CAS (Chinese Accounting Standards)
• Deliver in time for SEC reporting deadlines

All within a compressed window that spanned both U.S. holidays and Chinese New Year.

Internal bandwidth was limited to one AP resource and one accounting resource at the U.S. parent, putting Opal Creek Consulting in the position of representing the U.S. parent’s interests. The uplift could not disrupt ongoing operations. It needed to be seamless for regulators, executives, and global finance teams.

The Challenge

This was a structural transformation involving:

• A cross-border regulatory alignment
• A multi-language, multi-time-zone coordination effort
• A data migration from a separate ERP
• A cross-border ERP integration executed under SEC reporting deadlines

Key constraints:

• 8 effective working weeks due to overlapping global holidays
• 13 new subsidiaries added
• Multi-book structure to satisfy dual GAAP/CAS requirements
• A newly onboarded China finance team

In other words, much more than a software project.

The Approach

Opal Creek stepped in as an extension of Nuvation Bio’s finance leadership.

1. Front-Loaded Discovery

November sessions defined scope, governance, milestones, and reporting requirements early, mitigating the holiday impact.

2. OneWorld Architecture

The team architected a NetSuite OneWorld environment designed to support the biotech sector’s complex reporting requirements, including:

• Multi-currency
• Multi-book accounting
• 3 months of historical data migration
• 8 distinct consolidation exchange rates
• Fixed Assets and Amortization modules

3. Process Design for China Operations

Procure-to-Pay (P2P) was redesigned to meet local regulatory and operational requirements

• Multi-tier approval architecture
• Automated approval documentation with line-level PDF detail
• Integration within the existing automation stack

Order-to-Cash

• Streamlined configuration aligned with the local operating model and revenue structure

Inventory

• Month-end adjustment process designed for current needs
• Scalable configuration for future manufacturing expansion

Expense Management

• Custom template translating Concur data into NetSuite
• Designed for future T&E automation across additional China subsidiaries

4. On-Site Go-Live Support

At go-live, a team from Opal Creek traveled to China and worked full-time on-site for two weeks, ensuring both system stability, accelerated user adoption, and post-launch continuity.

The Outcome

• Full NetSuite OneWorld deployment
• 13 subsidiaries integrated
• Dual GAAP compliance (U.S. and China)
• 3-month historical data migration
• 8 effective working weeks to completion despite cross-border holiday constraints
• Zero disruption to U.S. parent operations

The newly consolidated reporting package met SEC requirements and positioned Nuvation Bio for continued global expansion and commercial readiness.

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