A life sciences capital raise beyond drugs and devices
Life sciences companies that sell tools, diagnostics or services raise on revenue quality as much as on science. Show customer concentration, recurring consumables or contract revenue, quality certifications and lab or plant capacity, and keep customer contracts and pricing behind tighter permissions.
Folder index
- 01 Overview Deck, segment split, growth drivers.
- 02 Revenue quality Recurring versus project revenue, consumables per instrument, backlog.
- 03 Customers Anonymized concentration first, named contracts in late diligence.
- 04 Quality and certifications ISO certificates, CLIA and state lab licenses, client audit results.
- 05 Operations Lab or plant capacity, utilization, key equipment.
- 06 Regulatory FDA status of any regulated products, inspection history.
- 07 IP and technology Patents, software, assay or process know-how.
How this raise works
Not every life sciences raise is about a drug. Research tools and instruments, diagnostic labs, contract research organizations and contract manufacturers raise growth equity, venture rounds and private credit. Their investors include healthcare-focused growth funds and private equity firms as well as specialist venture funds.
Diligence looks like a mix of a tech and an industrial deal. For tools, investors want the installed base and the consumables that follow each instrument. For diagnostic labs, they check CLIA certification, state licenses, payer contracts and billing practices. For CROs and CDMOs, they check backlog, customer concentration, capacity utilization and quality audit history from clients and regulators.
Many of these businesses work with pharma customers under confidentiality terms. Customer names, pricing and project data often cannot be shared at all before late diligence, so plan anonymized summaries for early rounds.
Best data rooms for this raise
The 16 rooms re-ranked with this raise's weights. Permission control carries the most weight here.
- Investor tracking 22%
- Permission control 25%
- Raise workflow 21%
- Investor onboarding 16%
- Cost of a raise 16%
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Full deal room with AI, a listed price and a 14-day free trial.
Price $149 a month Trial 14-day free trial Features 8 of 12 listed -
Long-running M&A platform with layered permissions and fast support.
Price Priced on request Trial Free trial available Features 9 of 12 listed -
Bank-grade platform for large processes, with AI and a mobile app.
Price Priced on request Trial Demo on request Features 10 of 12 listed -
Deal room with AI and readiness tools for preparing a process.
Price Priced on request Trial Free trial available Features 8 of 12 listed -
One of the oldest deal rooms, common on bank-led transactions.
Price Priced on request Trial Demo on request Features 8 of 12 listed -
Simple flat-rate deal room with signing and Q&A.
Price $250 a month Trial Free trial available Features 8 of 12 listed -
Easy, reliable deal room favored by mid-market advisers.
Price Priced on request Trial Free trial available Features 7 of 12 listed -
Deal room with a listed monthly price and an open API.
Price $299 a month Trial Free trial available Features 7 of 12 listed -
Content cloud with watermarks and signing, priced per user.
Price $15 a user a month Trial Free trial available Features 9 of 12 listed -
European deal room strong in real estate, with AI features.
Price Priced on request Trial Demo on request Features 8 of 12 listed
Places 11 to 16: SmartRoom (7.0), DealRoom (7.0), ShareVault (6.9), Venue by DFIN (6.4), Digify (6.2), DocSend (5.8)
Folder index for the room
A starting index for this raise. Number the folders so the order survives exports and investors can cite them in questions.
- 01 OverviewDeck, segment split, growth drivers.
- 02 Revenue qualityRecurring versus project revenue, consumables per instrument, backlog.
- 03 CustomersAnonymized concentration first, named contracts in late diligence.
- 04 Quality and certificationsISO certificates, CLIA and state lab licenses, client audit results.
- 05 OperationsLab or plant capacity, utilization, key equipment.
- 06 RegulatoryFDA status of any regulated products, inspection history.
- 07 IP and technologyPatents, software, assay or process know-how.
- 08 PeopleScientific leadership, headcount, key retention terms.
- 09 FinancialsStatements, margin by segment, capex plan.
- 10 CorporateCharter, cap table, financing documents.
Features this raise needs
| Feature | Why | Ellty | iDeals | Datasite | Ansarada | Intralinks | SecureDocs |
|---|---|---|---|---|---|---|---|
| Built-in redaction | Masks fee splits, investor names or personal data in place, with no edited duplicate to keep in sync. | ||||||
| View-only files | Files can be read but not saved or printed, and the setting can change mid-raise without a new invite. | ||||||
| Investor activity log | A per-investor record of opens, pages and minutes, which tells the IR team who is in diligence and who stalled. | ||||||
| Q&A module | LPs and lead investors post questions on a file; the deal team routes each one, drafts a reply and decides who sees it. |
Setting up the room
- 01
Split revenue by type
Separate recurring consumables or contracts from one-time sales so investors can value each.
- 02
Anonymize customers early
Share concentration and contract terms with names removed until late diligence.
- 03
Collect certificates
Gather ISO, CLIA and license documents with expiry dates in one folder.
- 04
Show capacity
Present utilization and the capex needed to grow, since many investors fund that expansion.
- 05
Release names last
Open named customer contracts only to the final investor and its counsel, with watermarks.
Common mistakes
- Sharing pharma customer names in breach of confidentiality terms.
- Expired lab licenses or certificates found during diligence.
- Treating project revenue as recurring.
Calculators for this raise
Or take the four-question quiz and check the raise checklist.
Questions and answers
Who invests in life sciences tools and services companies?
Healthcare-focused growth equity and private equity firms, specialist venture funds and private credit funds, depending on stage and cash flow.
What do diagnostics lab investors check?
CLIA certification, state licenses, payer contracts, billing and coding practices, test volumes and reimbursement trends.
How do I share customer data under NDA limits?
Use anonymized summaries early and named contracts only late, with view-only access, after checking each contract's confidentiality terms.