It Is Not the Pitch Deck Anymore. It Is the De-Risked Deck.

A Boston Biotech Week note from Dennis Ford, Founder and CEO, Life Science Nation

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

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Boston Biotech Week brings the whole industry into one city at once. Big stages, packed agendas, strategic executives, investors, and hundreds of emerging companies working the room. There is real value in all of it. But if you are an early-stage CEO trying to raise your next round, you have a narrower problem. You do not need to meet everybody. You need to meet the people who can actually fund you.

Over the last few years, I have watched the investor conversation change. The science is as strong as ever. What has changed is what happens after the science leaves the lab and somebody has to finance the long road to the clinic. Founders were taught to build a pitch deck: the unmet need, the science, the market, the team, the ask. There is nothing wrong with that formula, but it no longer answers the question an early-stage investor is actually asking: risk. What has been proven, what has not, where the company could fail, and what the next round actually retires. That is why the pitch deck is becoming something else. I call it the de-risked deck.

This matters because life science has a structural problem we do not talk about enough. We built an extraordinary discovery engine and pour billions into it, and it works. What we never built beside it, with the same discipline, is the commercialization engine. A scientist spends twenty years mastering a pathway and then is expected to run a company that demands regulatory strategy, clinical development, IP, reimbursement, capital formation, and partnering. That is a different profession, and we expect founders to learn it while keeping the company alive.

So too many companies start raising before anyone has put the asset through the full risk stack, and that gets expensive. A company can burn years and millions moving toward an IND only to find that a regulatory assumption was wrong or the IP is thinner than it looked. Problems that cost thousands to surface early cost millions once they are buried in the plan. The process should run the other way. Vet early. Find the risks while they are still cheap to address. Retire what you can, manage what you cannot, and build the financing strategy around the milestones that take those risks off the table. That is what makes a company legible to capital.

That is where RESI is different. In a week full of networking, RESI is built for one thing: the early-stage financing problem. By the time we open, roughly 400 international early-stage investors will be in the building, covering Seed up to two million, Series A up to ten million, and Series B up to fifty million. More than 200 investment firms have already registered. A founder does not come to RESI for another thousand names in a directory. They come to find the specific investors whose mandate fits their stage of development and product, and to get in front of them.

Investor Firms Exclusive to RESI Boston 2026

Two rooms make that sharper. The Global Family Office BioForum brings 40 family offices from around the world, patient private capital that is hard to reach, and this year they are taking partnering meetings alongside the forum. The Cross-Border Investor Luncheon puts international investors together with regional VCs, because a regional fund often has access to companies it cannot finance through multiple rounds, and an international fund has capital and reach but no visibility into the local ecosystem. Put them together, and you are not collecting contacts; you are building a syndicate.

None of this replaces the work. No conference makes an unprepared company fundable. The science has to stand up, the milestones have to make sense, and the CEO has to understand the risks well enough to have a conversation rather than deliver a presentation. When founders make that shift, it shows. FELIQS, one of our recent Innovator’s Pitch Challenge companies, told us RESI helped them sharpen how they communicated the clinical and commercial opportunity and opened the door to real financing discussions. The science had not changed. Their ability to make it legible to capital had.

The science is the reason a company exists. Making it financeable gives it a chance to survive.

LSN and RESI have been part of Boston Biotech Week since its inception. If you are an early-stage company looking for capital or licensing deals, RESI is the right room to be in. If you are there to shop for service providers, plenty of other rooms are built for that. RESI is built for matching partners and facilitating early-stage transactions.

Boston is our hometown, and this is where RESI shines. That is the de-risked deck, and this week, that is the conversation we want to have.

RESI Boston 2026 | September 22 to 23 | The Westin Copley Place, Boston
Virtual Partnering | September 25, 28 to 29

Register for RESI Boston

Inside the Pharma Partnering Playbook: How Early-Stage Innovation Gets on Big Pharma’s Radar 

By Joey Wong, Director of Investor Research, Hong Kong BD, LSN

Joey-New-Headshot

For early-stage life science companies, securing the attention of a pharmaceutical partner can be transformative. But with pharma teams evaluating a constant flow of new technologies, assets, and platforms, what makes an emerging company stand out, and what turns an initial conversation into a meaningful partnership?

At RESI Boston, the panel Inside the Pharma Partnering Playbook: How Early-Stage Innovation Gets on Big Pharma’s Radar will bring together experienced pharmaceutical business development and partnering professionals for a candid look at how large pharma companies identify, evaluate, and engage with external innovation.

As pharmaceutical companies increasingly look outside their own pipelines for promising science, partnerships are beginning earlier and take a wider variety of forms. Research collaborations, option-to-license agreements, licensing deals, and strategic investments can all provide pathways for startups to work with established pharmaceutical companies. For founders, understanding how these organizations approach external innovation can be critical to developing an effective partnering strategy.

The discussion will explore what initially puts an early-stage company on pharma’s radar, how teams assess scientific and strategic fit, and what founders should have in place before initiating a business development conversation. Panelists will also share perspectives on building relationships before a company reaches a major inflection point, navigating internal decision-making at large organizations, and positioning an opportunity so its value is clear to potential partners.

Pharma Partnering Panelists
Nikhil-Mutyal
Nikhil Mutyal

AstraZeneca
(Moderator)
Nimisha-Gupta
Nimish Gupta

Jazz Pharmaceuticals 
Parthiban-Rajasekaran
Parthiban Rajasekaran

Sanofi 
Armin-Rump
Armin Rump

Otsuka Pharmaceutical Co. 
Andrew-Thomson
Andrew Thomson

Ipsen SA 
 

For entrepreneurs pursuing pharmaceutical partnerships, the session offers an opportunity to hear directly from the people on the other side of the partnering table. Attendees will leave with a stronger understanding of what pharma is looking for, how opportunities move through the evaluation process, and how early-stage companies can approach BD conversations with greater focus and preparation.

Join the discussion at RESI Boston on September 22 at 1:00 PM and gain an inside look at how promising innovation makes its way onto Big Pharma’s radar.

Register for RESI Boston

Hot Investor Mandate: US-Based VC Firm Seeks to Fund US-Based Companies in Devices, Diagnostics, Digital Health / Healthcare IT

A venture capital firm in the US invests in healthcare companies, specifically medtech and enterprise healthcare IT. The firm manages a total of $125 million in assets. The firm writes $2M-$4M checks into Series A and B rounds where the company is post-FDA and generating commercial revenue. The firm looks to invest in companies located in the US except for NYC north and Silicon Valley. 
 
The firm is looking for Life Science companies primarily in areas of Medical Device and Healthcare IT, although the firm will also consider Digital Health, Diagnostics, and companies with developed and approved therapeutics. The firm is broadly open to all subsectors and indications within these areas but tend to focus more on intraoperative technologies such as orthopedics, surgical navigation/tools, nerve, or oncology. 
 
Ideal companies have $1 million or more of run-rate revenue; gross margins of 50% or higher; and equity capital needs of less than $10 million at the time of investment. The firm looks to take a board seat into companies and take a very active role in helping the company expand through their network of strategic partners. 

If you are interested in more information about this investor and other investors tracked by LSN, please email salescore@lifesciencenation.com

Hot Investor Mandate: Fund Established by Medtech Professionals Invests from Seed to Series B Across Medical Devices and Diagnostics in High Unmet Need Areas 

The firm is an early-stage venture capital fund established by a group of experienced medical device industry professionals in Asia. The firm typically invests approximately $700K–$3M in companies raising Angel, Pre-Series A, Series A, and Series B financings. The firm invests through a local-currency fund and therefore places a strong emphasis on international companies willing to establish a joint venture or meaningful operating presence in Asia. The firm’s partners leverage extensive medical device industry experience and local networks to help portfolio companies establish and grow their businesses in the Asian market. 

The firm primarily invests in medical devices and in vitro diagnostics, with particular expertise in cardiology, neuromodulation, diagnostic technologies, and medical imaging. The firm is also interested in R&D services and AI-enabled healthcare technologies, particularly technologies that use artificial intelligence to improve medical imaging, diagnostic accuracy, or clinical efficiency. While these areas represent the firm’s core expertise, the firm remains open to other differentiated medical technologies with strong development and commercialization potential. 

From a company and management team perspective, the firm strongly prefers opportunities with a clear Asia strategy and companies willing to collaborate closely with its investment partners. The firm can support international companies through local industry relationships, access to industrial and commercialization networks, and assistance in identifying potential non-dilutive funding opportunities. The firm seeks management teams that are receptive to strategic involvement and can leverage the firm’s operating experience and local resources to establish and expand their presence in Asia.

If you are interested in more information about this investor and other investors tracked by LSN, please email salescore@lifesciencenation.com

Hot Investor Mandate: VC Firm Invests in Seed to Series A Life Sciences & Healthcare Companies in US, Europe, Asia, Investing Up to $3M 

The firm is an early-stage investment firm headquartered in Asia. The firm is actively seeking Seed through Series A opportunities and can invest up to approximately $3M over the lifecycle of a portfolio company. The firm evaluates opportunities across Asia, North America, and Europe and provides both financial and strategic support to emerging healthcare companies. 

The firm invests broadly across life sciences, including therapeutics, medical devices, diagnostics, and digital health. The firm is indication-agnostic and seeks cutting-edge technologies addressing a wide range of healthcare needs. As an early-stage investor, the firm is comfortable evaluating technologies at the preclinical or early development stage and maintains a flexible approach to different technologies and business models. 

From a company and management team perspective, the firm does not impose specific requirements. The firm can act as either a lead investor or co-investor, although the firm generally seeks a more active role and may prefer to lead when investing in very early-stage companies. Through relationships with healthcare organizations and strategic partners, the firm can also provide portfolio companies with operational, commercialization, and business development support. 

If you are interested in more information about this investor and other investors tracked by LSN, please email salescore@lifesciencenation.com

Hot Investor Mandate: Evergreen Investor Allocates Up to $20M, Focusing on Clinical-Stage Therapeutics, Near-Commercialization Medical Devices, and Healthtech 

A Europe-based investment group invests through an evergreen structure. The firm typically deploys approximately $2–$20M per company and invests primarily in private companies with a focus on the Nordic region. Investments are generally structured as equity, although convertible loans may also be considered. The firm has a long track record of supporting healthcare companies through growth and public-market exits and typically seeks a small number of new investments each year. 

Within life sciences and healthcare, the firm focuses on therapeutics, medical technology, and healthtech. For therapeutics, the firm generally targets clinical-stage drug development companies and has particular interest in oncology and orphan or rare diseases. Within medical technology, the firm considers all device classes but generally favors companies approaching commercialization. In healthtech, the firm prioritizes solutions with demonstrated willingness to pay and sustainable business models, with a particular preference for B2B opportunities. 

From a company and management team perspective, the firm seeks private companies with strong development or commercial potential and takes an active approach following investment. The firm generally seeks board representation and works closely with portfolio companies as they progress through clinical development, commercialization, growth, and potential exit opportunities. 

If you are interested in more information about this investor and other investors tracked by LSN, please email salescore@lifesciencenation.com

From the Innovator’s Pitch Challenge Podium to the Clinic: FELIQS Advances Vision Saving Therapies 

Third Place winner of the RESI San Diego Innovator’s Pitch Challenge, FELIQS is developing innovative therapies for neonatal ophthalmology and other serious retinal diseases with the goal of preserving vision at the earliest stages of life. In this interview, Kenichiro “Nobu” Kuninobu discusses the company’s lead clinical program, the value of participating in the RESI Innovator’s Pitch Challenge, and the milestones that will shape FELIQS’ next phase of growth.

Kenichiro “Nobu” Kuninobu
Co-founder & CEO, FELIQS
Caitlin Dolegowski
Program Director, LSN

Caitlin Dolegowski (CD): FELIQS is focused on developing therapies for neonatal ophthalmology and other serious retinal diseases. Can you tell us about your lead program and the impact it could have on patients and their families?

Kenichiro Kuninobu (NK): FELIQS’ lead program, FLQ-101, is being developed for the prevention of retinopathy of prematurity, or ROP, a serious retinal disease affecting premature infants that can lead to lifelong visual impairment or blindness. Today, treatment is generally initiated after ROP has already progressed to a clinically significant stage. Our goal with FLQ-101 is to intervene earlier and prevent disease progression before invasive treatment becomes necessary. If successful, this approach could give premature infants the best possible opportunity for healthy visual development. For families, the impact could be profound. Preserving vision at the very beginning of life can influence a child’s development, independence, and quality of life, while potentially reducing a lifelong burden of care for families and healthcare systems.

CD: Your work bridges scientific innovation and international collaboration. How has that global perspective influenced the company’s development?

NK: FELIQS was founded on scientific discoveries originating in Japan, but from the beginning we have approached drug development with a global perspective. Our lead clinical program is being developed in the United States, while we continue to work closely with researchers, clinicians, regulators, and partners across Japan and other regions. That international approach has shaped how we think about clinical development, regulatory strategy, patient access, and partnerships. It also allows us to bring together complementary expertise from different regions. For diseases such as ROP, which affect premature infants around the world, we believe that building a globally relevant development strategy from an early stage is particularly important.

CD: Earning Third Place in the RESI San Diego Innovator’s Pitch Challenge highlights the strength of your innovation. What did this recognition mean to your team?

NK: Earning Third Place at the RESI San Diego Innovator’s Pitch Challenge was very meaningful to the FELIQS team. It provided encouraging external recognition of both our scientific approach and our mission to address serious retinal diseases in vulnerable patient populations, particularly premature infants. For our team, it was especially valuable to see investors and industry experts respond positively to our strategy and the potential of our programs. The recognition gave us additional confidence that FELIQS is pursuing an important and differentiated approach, while also increasing our visibility within the global life sciences community.

CD: Were there any conversations with investors, judges, or strategic partners at RESI that stood out or created new opportunities?

NK: RESI created a valuable forum for high-quality conversations with investors, judges, and potential strategic partners who understood both the unmet need in retinal disease and the importance of early intervention in ROP. Several discussions helped us refine our communication of the clinical and commercial opportunity, and some opened the door to follow-up conversations about financing, development strategy, and potential collaboration. The event was particularly useful because the feedback was practical, thoughtful, and directly relevant to our next stage of growth.

CD: What are the most important clinical, regulatory, or business milestones FELIQS hopes to achieve over the next 12 to 18 months?

NK: Over the next 12 to 18 months, our highest priority is to advance FLQ-101 clinically and build the foundation for its next stage of development. This includes progressing our ongoing clinical study in ROP, expanding our clinical network, generating additional data, and continuing regulatory discussions to define an efficient path forward.

At the same time, we plan to advance our broader pipeline, including FLQ-103 and FLQ-105, while continuing to strengthen the company financially and strategically.

From a business perspective, we are actively engaging with investors and potential strategic partners who can help us accelerate these programs. Ultimately, each of these milestones is focused on one objective: moving promising science into meaningful therapies for patients as efficiently and rigorously as possible.

CD: What qualities are you looking for in investors or strategic partners as you continue to grow?

NK: We are looking for investors and strategic partners who share our commitment to developing meaningful therapies for serious retinal diseases and who understand that building innovative medicines requires both scientific rigor and long-term perspective.

Beyond financial support, we particularly value partners who can contribute strategic insight, experience in ophthalmology, rare diseases, or global drug development, and access to networks that can help accelerate clinical and commercial progress.

Most importantly, we want partners who are collaborative and aligned with our mission. We believe the strongest partnerships are built when both sides share a long-term commitment to creating meaningful value for patients.

CD: Looking ahead, what is your long-term vision for FELIQS, and what advice would you offer companies considering participating in a future RESI Innovator’s Pitch Challenge?

NK: Our long-term vision is to establish FELIQS as a leading biotechnology company in neonatal ophthalmology and rare diseases. Building from our work in ROP, we aim to expand into additional diseases where early and innovative therapeutic intervention could preserve vision and meaningfully change patients’ lives.

For companies considering participating in a future RESI Innovator’s Pitch Challenge, my advice would be to come with a clear story, a focused objective, and an openness to feedback. RESI is not simply an opportunity to pitch your company. It is a platform to refine your strategy, understand how investors perceive your opportunity, and build relationships that may continue well beyond the event.


Additional Innovator’s Pitch Challenge (IPC) slots are now available, giving companies the opportunity to pitch directly to investors, receive live feedback, and boost visibility ahead of the event. Applications close August 26.

Apply to Pitch at RESI Boston