Pharma / Success case
The deck and financial model behind a $12M pharma seed
A pre-launch pharmaceutical manufacturer had a strong team and an AI-built model no investor would get past. We rebuilt the model, the financing plan and the deck.Client details are anonymised at the company’s request.
At a glance
Seed round, now raising
$12M
The first tranche of a $27.5M staged plan.
- ModelRebuilt
- Financing planStaged
- $12M seedRaising
- LaunchNext
The model
Rebuilt from scratch to institutional grade
One assumptions page, output capped by what the plant can make
The financing plan
The $500M cash gap is gone
Revenue first, then local manufacturing
Client
African pharmaceutical manufacturer, pre-launch, founded by pharma industry veterans
- Pre-launch
- Local manufacturing
Scope
- Narrative
- Investor deck and design
- Financial model
- Revenue and rollout plan
- Financing strategy
The challenge: a strong team, and a model no investor would get past
Decades of pharma experience, and fundraising materials that showed it was new to them.
The model
Built with AI and broken on first read: a $600M valuation before launch, and a $500M cash gap.
The deck
It needed a story that made the opportunity obvious, and numbers underneath that held up.
The story: medicines made where they’re needed
Governments across Africa now treat local medicine production as a matter of national security.
The company launches fast and light, proves demand, and funds local manufacturing on the back of that traction.
What we learned: why pharma manufacturers struggle to raise
Investors know the sector’s problems before the first meeting.
The track record is poor
African plants run at 30-60% of capacity, against 70%+ in developed markets.
Approvals are slow
Each country runs its own approval process, and approval can take from a few months to more than two years.
The capex comes first
A plan that needs a factory before the first sale asks investors to fund construction.
The valuation ignored the stage
The median US seed pre-money valuation was $18.4M in early 2026. Hundreds of millions loses the room.
What gets funded, and how the deck shows it
Three things get a pharma manufacturer funded. The deck and the model show each one.
Demand and policy that already exist.
A large import bill, governments backing local production, and buyers who need reliable supply.
Capex phased to match revenue.
Institutional buyers first, then patients, then regional expansion, each step funded by the last.
A model investors can test.
Each revenue stream with its share of revenue, margin and buyers, driven by one assumptions page.
What we did: the model, the financing plan and the deck
We rebuilt the numbers first, then the story on top of them.
Rebuilt the model
From scratch, to institutional grade, with a valuation a seed investor recognises.
Replaced the cash gap
A staged plan: the $12M seed is the first tranche of $27.5M.
Ordered the rollout
Wholesale and institutional buyers first, then patients, then regional exports.
Rebuilt the story
The import problem, why now, three flagship products and the ask.
Results
- $12M seed now raising, as the first tranche of a $27.5M plan
- $500M cash gap gone: a staged financing plan now gets the company to revenue first
- 1 institutional-grade model that investors can open, test and trust
- The deck and the model tell the same story, from the first product to regional scale
The investor deck
$20Mraise for Phase 2b, in marketRebuilding a $20M biotech raise for investors who aren’t scientists
Brought in by the investment bank60+ pages to under 25Read the story
$6Mseed$6M seed round financial model for AI AdTech startup
Closed in 1 monthRead the story
£3Mlate seedGame-changing financial model for a revolutionary fintech app
Built in 2 weeksRead the story
$3Mseed round closedGetting a deep tech company ready for a $3M seed round
Commercial phase fundedTextile waste to materialsRead the storyStrong team, but a model that won’t survive diligence?
We build the numbers, the financing plan and the story investors fund.
