Next Phase Newsletter

By Dennis Ford, Founder & CEO, Life Science Nation (LSN)

Life Science Nation was built to connect scientist-entrepreneurs and fundraising CEOs with global capital, licensing, and product-collaboration partners. This work has created a unique vantage point into what truly drives successful matches between early-stage companies and the buy side, revealing not only the science itself but also how companies mature over time, where they stall, and what ultimately earns investor and partner confidence.

The life science landscape continues to evolve at a remarkable pace. Across therapeutics, devices, diagnostics, and digital health, new tools and technologies are fundamentally reshaping early-stage development. Advances in artificial intelligence, machine learning, organoid systems, next-generation screening methods, and predictive modeling now allow founders to generate clearer, more actionable data far earlier than was possible even a decade ago. These shifts are compressing timelines that once required years and large amounts of capital, and they are changing how and when global investors and strategic partners are willing to engage.

Across hundreds of investor conversations over the years, a consistent pattern has emerged in how risk is evaluated. While mandates differ, the underlying criteria tend to converge around a few fundamentals: the depth and credibility of the science, the quality and experience of the leadership team, the discipline of the development plan, and the strength of the data supporting forward momentum. Together, these factors determine whether a company is ready to engage meaningfully with the global market.

A similar lens is applied when evaluating companies referred to Life Science Nation through regional tech hubs, incubators, accelerators, universities, and national or state life science agencies. Many new technologies are, in reality, the product of decades of foundational research. When a founding scientist remains actively involved, it brings historical context, credibility, and continuity, materially reducing risk. Strong CEOs, particularly those with experience launching products inside established companies, add another layer of confidence through pragmatic decision-making and operational discipline.

Over time, this has shaped how we think about de-risking the stack. The strongest early-stage companies are not those that attempt to eliminate risk, but those that systematically convert unknown risk into understood risk. They address scientific, technical, regulatory, and commercial uncertainty in the correct order, with discipline and intent, before asking the global market to engage. They can clearly explain the remaining uncertainty, support it with data, and demonstrate steady forward progress.

At Life Science Nation, thousands of early-stage companies are encountered each year through the global partnering backbone, RESI conferences, and structured roadshow campaigns. Most are still early in their journey. Some have excellent science but are not yet ready to communicate it in a way that resonates with global investors. Others have passion and urgency but lack the data required for serious engagement. Many need more time to build the right team, define realistic milestones, and understand what it means to operate within a global partnering framework.

These companies demonstrate clarity of purpose and forward motion, articulate their science in ways that align with investor expectations, and execute against achievable milestones that generate data to support early decision making. They show signs of intentional de-risking, understand where uncertainty lives, and address it in the correct order with discipline and commitment. That is ultimately why they made this list. Without further ado…Drum roll, please….

Top Ten Companies to Watch in 2026

NeuroHope (CNS trauma and spinal cord injury)

NeuroHope is developing a PgP targeted nanoparticle delivery platform to enable sustained, targeted central nervous system drug exposure for acute spinal cord and brain injuries. The company’s lead asset, Polypram, is a rolipram-loaded nanotherapeutic designed to restore cAMP signaling, reduce inflammation, and improve functional recovery after spinal cord injury, addressing a long-standing delivery barrier that has prevented effective pharmacologic treatment in this setting.

NeuroHope stood out for its clear focus on the spinal cord injury bottleneck and its disciplined, translational data package demonstrating durable motor recovery in both rodent and large-animal models.

Website: https://www.neurohopetherapeutics.com

Bilix (clinical stage organ protection biotech)

Bilix is a clinical-stage biotechnology company developing synthetic PEGylated bilirubin nanoparticles for organ protection and inflammatory injury. Its lead program targets ischemia reperfusion injury by addressing oxidative stress, ferroptosis, and immune dysregulation following surgery and transplantation, with completed Phase 1 clinical testing and an ongoing Phase 2a study in cardiac surgery-associated acute kidney injury.

Bilix stood out for strong clinical execution, defensible chemistry, and a management team with demonstrated regulatory experience.

Website: https://www.bilix.com

Oncovita (measles-based oncolytic immuno-oncology)

Oncovita is developing MVdeltaC, an intratumoral measles virus-based oncolytic immunotherapy designed to convert immunologically cold solid tumors into targets the immune system can recognize and eliminate. By engineering a clinically familiar measles backbone with a C protein deletion, MVdeltaC drives potent immunogenic cell death and reshapes the tumor microenvironment, making previously hidden tumors visible to the immune system, much as PET imaging made occult disease visible to clinicians. Initial programs focus on pleural mesothelioma, with a clear strategy to expand into additional solid tumors such as triple-negative breast cancer.

Oncovita stood out for its mechanistic clarity and disciplined orphan-first strategy to establish clinical proof before broader expansion.

Website: https://www.oncovita.fr

Adaptyx (continuous cortisol monitoring platform)

Adaptyx is developing a continuous biomolecular monitoring platform designed to bring clarity to cortisol-driven disease. By enabling real-time measurement of cortisol dynamics, the company addresses a central blind spot in endocrinology: current diagnostics rely on static snapshots of a hormone that fluctuates throughout the day, which could change how conditions such as Cushing’s, Addison’s, and related disorders are diagnosed and managed.

Adaptyx stood out for reframing cortisol measurement as a clinical tool, much as continuous glucose monitoring has transformed diabetes care.

Website: https://adaptyx.bio/

Cureage (rare disease therapeutics for NF1)

Cureage is a rare disease-focused biotechnology company developing first-in-class therapeutics for Neurofibromatosis Type 1 and related disorders. The company targets the underlying biology driving tumor formation and disease progression in NF1, an area of significant unmet need. It works closely with the Children’s Tumor Foundation, reflecting deep alignment with the patient and clinical community.
Cureage stood out for its clear rare disease focus, strong biological rationale, and disciplined approach to de-risking development in a defined patient population.

Website: https://www.cureagetx.com

Qnity (Quantum computing drug discovery platform)

Qnity is a deep-tech life sciences company that applies quantum-electrochemical sensing to transform molecular screening and drug discovery. Its platform delivers ultra-sensitive, real-time measurements of molecular binding across a wide range of molecule types, enabling researchers and developers to identify and characterize interactions with greater precision and throughput than traditional methods like SPR or ELISA.

Qnity stood out for tackling a core bottleneck in early-stage drug development—the need for more accurate, accessible, and scalable binding data—by offering a single-chip quantum sensing solution that accelerates discovery and reduces risk in therapeutic and diagnostic pipelines.

Website: https://www.qnity.bio/

iQure (AAV gene therapy for rare CNS and metabolic disease)

iQure is developing a new class of treatments for brain disorders by restoring balance to glutamate, a key neurotransmitter that becomes toxic when dysregulated. What makes their technology unique is its focus on astrocytes—support cells in the brain—by enhancing the activity of EAAT2, the main transporter responsible for clearing excess glutamate.

iQure stood out for addressing a fundamental driver of neurological damage with a first-in-class, orally available small molecule advancing into the clinic.

Website: https://www.iqurepharma.com/

HiRO (global clinical development and APAC strategy partner)

HiRO is a global clinical research organization that supports emerging and established biotech companies in designing and executing clinical development programs across Asia Pacific and other regions. Beyond trial execution, HiRO works closely with clients to determine the most effective geography and sequencing strategy for each program, balancing regulatory pathways, patient access, cost, speed, and downstream partnering objectives. By helping companies deploy trials thoughtfully across markets such as Japan, Korea, Taiwan, Australia, Southeast Asia, and China, HiRO reduces geographic and execution risk early in development.

HiRO stood out for combining clinical rigor with global strategic judgement, enabling early stage programs to generate credible, partner ready data without single geography bias.

Website: https://en.harvestiro.com/

Qualisure Diagnostics (RNA-based thyroid classifiers)

Qualisure Diagnostics develops RNA-based classifiers that guide treatment decisions in thyroid cancer. Unlike tests focused solely on diagnosis, Qualisure’s assays inform post-diagnosis management. Clinical guideline citations support them, and the company has achieved international adoption through a decentralized deployment model.
Qualisure stood out for combining clinical relevance, guideline support, and capital-efficient international execution.

Website: https://qualisuredx.com/

Alterna Therapeutics (RNA-targeted splicing medicines)

Alterna Therapeutics develops RNA-targeted drugs designed to correct harmful cellular miscommunication driving disease. The company applies deep splicing biology to genetic and oncology indications with high unmet need, leveraging a platform with the potential to generate multiple differentiated assets over time.
Alterna stood out for its elite scientific pedigree and platform potential, with a clear opportunity to further strengthen its focus and lead-indication discipline.

Contact: Maria Buxade Fortuny maria.buxade@crg.eu

These ten companies illustrate how the bar for being partner-ready is rising across the life science ecosystem. All are early and face significant challenges ahead, but they are moving in the right direction. Taken together, this group highlights the depth of innovation and opportunity emerging across the life sciences today.

The companies highlighted in this article are not investment recommendations. Life Science Nation has not conducted formal due diligence on these technologies, finances, or operations, and no independent verification or vetting of these companies has been performed. This list reflects organizations that caught our attention through our work and travels and is intended solely for informational and educational purposes, not as a basis for any investment decision.

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