A complete Pre-Seed financial model for Biotech startups. Revenue model, unit economics, hiring plan, cash flow projections, and funding scenarios — structured for investor review.
Projection Horizon
18 months
Model Tabs
5 core tabs
Format
Excel + Google Sheets
Cash runway, burn rate, and the key milestones that unlock your next round. Pre-seed investors focus on whether you have enough runway to prove the thesis.
Biotech financial models must include a probability-weighted NPV analysis. Investors value companies on risk-adjusted NPV of the program, not DCF of current revenue. Include a sensitivity table showing NPV at different PoS assumptions.
Milestone-based funding model with pre-commercial phase tracking. Map funding events (SBIR awards, partnerships, equity rounds) to clinical trial stages and regulatory milestones.
Build every assumption from first principles. Pre-seed investors will ask "how did you get to this number?" for every major line. Have a clear answer that ties back to market research or comparable benchmarks.
Model two scenarios: (1) raising your target amount, (2) raising 70% of target. Show what milestones you hit in each case and when you need to start the next raise.
A Pre-Seed Biotech financial model should cover 18 months of projections with these tabs: Assumptions Dashboard, Revenue Model (monthly), Headcount Plan, Cash Flow Forecast, Runway Sensitivity. Cash runway, burn rate, and the key milestones that unlock your next round. Pre-seed investors focus on whether you have enough runway to prove the thesis.
Milestone-based funding model with pre-commercial phase tracking. Map funding events (SBIR awards, partnerships, equity rounds) to clinical trial stages and regulatory milestones. The key revenue drivers are: Collaboration and partnership revenue by agreement; Government grant and SBIR/STTR funding; Licensing milestone payments; Future royalty revenue (post-approval, risk-adjusted).
Biotech unit economics at the Pre-Seed stage should include: Cost per patient enrolled in clinical trials; Cost per milestone achieved; NPV of risk-adjusted royalty stream; Cost of goods manufactured (COGS) at commercial scale. Biotech financial models must include a probability-weighted NPV analysis. Investors value companies on risk-adjusted NPV of the program, not DCF of current revenue. Include a sensitivity table showing NPV at different PoS assumptions.
Build every assumption from first principles. Pre-seed investors will ask "how did you get to this number?" for every major line. Have a clear answer that ties back to market research or comparable benchmarks. Start with the smallest unit of your business (one customer, one transaction, one seat) and build up from there. Every assumption should have a source or benchmark you can defend in an investor meeting.
Model two scenarios: (1) raising your target amount, (2) raising 70% of target. Show what milestones you hit in each case and when you need to start the next raise.
Get the Biotech Pre-Seed financial model as a pre-built Excel and Google Sheets template. Assumptions dashboard, revenue model, unit economics, and cash flow — ready to customize.
Includes Excel file, Google Sheets version, and model documentation guide