If your biotech is in Phase I/II, you likely need more capital to run your programs. One way to secure non-dilutive funding is through partnerships or co-development deals with large pharma companies.

⚠️ But there’s a catch: giving away too much can be value destructive, leaving you with little or no upside.

💡 One way to safeguard your interests: consider a pre-arranged “divorce clause” in the deal to protect your future value.

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