Fundraising advisory for biotech startups

In biotech, innovation drives everything, but funding drives innovation

Raising capital in this sector isn't about storytelling; it's about credibility, validation, and structure. Investors expect precision: proven science, clear milestones, and a capital roadmap that balances equity, grants, and partnerships.

At dups, we help biotech founders secure and structure capital that supports every stage of their development, from pre-clinical rounds to growth and commercialization. Our integrated legal and financial advisory ensures every funding instrument aligns with your IP, governance, and regulatory context. Because in biotech, structure is what turns discovery into value.

Why biotech fundraising is unique

Biotech funding sits at the crossroads of science, regulation, and capital. It's a long game, and every round shapes the next. Founders face three critical challenges: long R&D cycles and uncertain revenue timing, high capital intensity requiring layered financing, and complex ownership structures, with labs, universities, and corporate partners involved.

That's why pure financial modeling isn't enough; you need legal and strategic alignment from the start. We help you design a funding strategy that matches your scientific roadmap and regulatory milestones.

Our biotech funding approach

1. Capital strategy and structuring

We start by mapping your development phases (R&D, pre-clinical, clinical, regulatory) and aligning them with the right capital sources. Then we structure your capital stack: seed and early equity from specialized biotech VCs or angels, non-dilutive grants (regional, EU Horizon, EIC), corporate partnerships or joint ventures, and convertible instruments or milestone-based tranches.

We model dilution, control, and risk-sharing to ensure each round builds toward your long-term ownership and liquidity goals.

2. Investor readiness and financial modeling

Biotech investors are analytical and expect rigorous preparation. We build or review your financial plan to reflect scientific and operational realities: cost of R&D and clinical phases, regulatory timelines and cash flow forecasts, milestone-based valuation models, cap table and dilution projections, and scenario analysis for exit or licensing.

We then translate your model into clear, investor-ready materials (pitch deck, investment memo, and data room), ensuring alignment between science and capital.

3. Legal structuring and negotiation

Biotech fundraising often involves complex legal mechanics: IP ownership, research collaboration, licensing, or milestone-linked equity. Our legal and financial teams work together to ensure your structure reflects your business model and protects your IP.

We handle term sheet review and negotiation, convertible or milestone-based instruments, shareholders' agreements and governance design, IP transfer and licensing clauses, and closing coordination and compliance. You raise capital knowing your legal foundation is as solid as your science.

4. Scaling and strategic transactions

As your company matures, your capital needs evolve, from research funding to growth, partnership, or exit. We guide you through later rounds, licensing deals, and M&A opportunities with the same integrated approach: financial precision and legal clarity. Our goal: make every transaction cleaner, faster, and value-accretive.

What makes dups different

At dups, we combine transactional expertise with scientific understanding. We've advised across industries where innovation meets complexity, including biotech, medtech, and healthtech.

Our edge lies in integration: legal and financial under one roof, for perfect consistency, deep familiarity with grant and hybrid funding, experience in regulated and IP-heavy environments, and focus on founder control and long-term alignment. We make sure your fundraising structure fits your innovation, not the other way around.

Deliverables you can expect

We provide full-cycle biotech fundraising advisory, including:

• Capital strategy design and funding roadmap
• Financial model and milestone planning
• Investor materials (deck, memo, data room)
• Legal structuring and negotiation support
• Convertible or milestone-based deal design
• Closing coordination and governance setup
• Grant and non-dilutive funding integration

Each deliverable is precise, credible, and designed to withstand investor scrutiny.