Partnering
CFO-Services & Funds
The silent edge
“As an integrated part of the subrosa group, subrosa Capital’s solutions are powered by global networks, deep scientific and commercial expertise, unique insights, and proven experience. But what truly sets us apart? The part you don’t see. The silent edge. The confidential layer. That’s the meaning of subrosa: we stand for discretion, depth, and discovery. In a confidential environment where our strategic and financial partners look for targets, evaluate M&A decisions, and CFOs look for vital funds, subrosa operates ‘under the rose’ — quietly but powerfully — uncovering insights, forming partnerships, evolving deals, and creating sustainable value for patients, the pharmaceutical industry, and your or our investors. While the pace of change is increasing, we deliver confidential and sustainable impact for global commercialization — as a trustee of our biotech, startup, and venture capital clients.”
Partnering, CFO-Services & Funds
Building global success through funding and beyond capital.
Niek StanderHead of subrosa Capital, Expert Licensing
Michael KringHead of Funds & M&A, Expert Early Biotechs
The six solutions
CFO Consulting. Our 87 clients to date expect more than standard consulting or transactional service models. subrosa’s CFO consulting teams operate at the forefront of industry trends and the challenges biotech CFOs face, delivering pragmatic, execution-ready solutions — from building global, regional, or local finance structures to fundraising, grants, and M&A strategy across early-stage biopharma and mature pharma organizations. For the latter we provide: business plans, M&A and portfolio due diligence, budget process implementation, change and turnaround management, and many more.
subrosa Alliances: Partnering. subrosa Alliances acts as a hands-on value-creation partner, selecting and rigorously assessing the right distribution, licensing (in and out), and co-financing partners — specialized in the needs of Rare Disease and specialized biotechs — for each relevant market across the globe. We have realized 41 partnering agreements to date. If needed, we can be part of your global alliance-management team, securing compliance, performance, service quality, and pricing coordination, tailored to your needs and strategic objectives.
CFO Services. For over 16 years, we have partnered with 121 biopharma start-ups and university spin-offs, delivering the full spectrum of financial services required throughout their growth journey. Our CFO services teams offer practical, high-impact solutions — from designing finance structures at any scale to managing planning, controlling, reporting, accounting, HR, and administrative operations. In numerous early-stage organizations, we serve as both the CFO and the complete finance department during the foundational stages.
Grants Support. subrosa Capital provides end-to-end support in identifying, shaping, and securing non-dilutive funding for your R&D programs. We combine scientific understanding, financial expertise, and strategic positioning to ensure that every grant application is not only competitive, but aligned with your long-term development and financing roadmap. Our teams help you navigate the increasingly complex landscape of national and international grant opportunities — from early-stage innovation funding to large multi-year R&D programs. We have successfully executed 61 grant applications to date.
Fundraising Support. We accelerate your fundraising by shaping a clear, investor-ready story, building robust financial foundations, and connecting you with the right capital partners. Our teams ensure you enter every investor conversation with precision, confidence, and a compelling case for value creation. We help you identify the right investors — those aligned with your science, your timelines, and your long-term strategy — and guide you through a structured, efficient fundraising process. €3.0B in raised funds for early biotech startups, partly university spin-offs, is proof.
Merger & Acquisition. subrosa Capital identifies, evaluates, and executes transactions that strengthen your portfolio, expand your capabilities, and accelerate growth. Our subrosa Group teams combine deep scientific and operational expertise with rigorous financial analysis to uncover the right opportunities — whether acquisitions, divestments, strategic partnerships, or asset swaps. We manage the full process end-to-end and understand both the science and the economics — enabling value-creating transactions. 38 biotech M&A exits, including 7 IPOs — 5 of them on Nasdaq — speak for themselves.
subrosa Capital’s networks, clients & solutions for every stage of growth
Stages of growth
Solutions across the lifecycle
Clients & Networks
In partnership with HARVEY & NAGL HEALTH and axxessive. explore axxessive ›
Getting things done
We deliver what we promise. Experience matters.
Commercial · Partnerings · (Pre-)Clinical
M&A Exits, IPOs
Funds, Grants
Consulting & Services
Corporate
Need a partner and advisors focused exclusively on biotechs and start-ups?
Our 87 clients to date expect more than standard consulting or basic service models. subrosa’s CFO consulting teams operate at the forefront of industry trends and the challenges biotech CFOs face, delivering pragmatic, execution-ready solutions — from building global, regional, or local finance structures to fundraising, grants, and M&A strategy across early-stage biopharma and mature pharma organizations.
Early-stage Biopharma & Medtech CFO consulting (examples)
Interim CFO/CEO
- Founding and legal structuring of companies
- Corporate and financial strategies
- Analysis of financial status and goals
- M&A strategy
- Shareholders, advisory and supervisory board meetings, etc.
Funding
- Verification of funding readiness, including gap analyses
- Funding advice and support
- Application preparation and submission for funds and grants
- Funding statements
- etc.
Fundraising
- Preparation and coordination of the entire process
- Translate equity story into financial planning
- Investor acquisition and communication
- Contract negotiations
- Examination of offers and collaborations, etc.
Mature Biopharma & Medtech CFO consulting (examples)
Mature Biopharma CFO Consulting
- Pre- and post-merger healthcare portfolio assessments
- Financial M&A due diligence or assessments
- 100-day plans; EMEA business plan reviews for internal reviews and financing purposes, etc.
- Planning / budget process design and implementation
- Change and turnaround management
- Profitability optimization (strategic investment reviews and cost reviews), etc.
XCLR8ED expansion to core, non-core, and non-registered territories
Why we do this.
More and more originators, trying to find a balance between R&D, clinical, and commercial investments and solutions under the MFN act, are choosing not to launch their innovative medicines outside the US. The result can be significant: weakened stock-market perception, reduced exit valuations, and, ultimately, patients losing access to therapies they urgently need. When startups consider entering markets outside their home country, they often encounter conflicting priorities, tight deadlines, and insufficient internal resources, which can restrict their global commercialization efforts. In the end, patients pay the price by missing out on approved, life-changing treatments. We believe — passionately — that every patient deserves access to approved medicines, regardless of where they live. It’s time for new thinking.
This is where subrosa Alliances and subrosa Group come in. With a long-term, strategic partnership mindset, we work with early-stage to mature biopharmaceutical originators through flexible models that enable global commercialization of promising Rare, Ultra-Rare, and Nano-Rare medicines. Fully integrated into subrosa Group’s end-to-end services — from clinical to launch to patient — we provide:
- Clinical programs for patient recruitment and identification
- Global go-to-market strategies
- Medical and commercial launch execution in core markets
- Identification of licensing and distribution partners in non-core entry markets — the job of subrosa Alliances
- Identifying patients in non-registered markets and enabling access through EAPs, NPPs, and CUPs wherever possible
Why subrosa
We are purpose-built for the core needs of Rare Disease, start-up, and biopharma companies’ C-suites. We know how, we speed up, we clearly de-risk, we optimize the global go-to-market model, and we are able to execute every access pathway A–Z. Our global infrastructure and networks to all relevant stakeholders bridge nearly every gap of early innovators. And we always deliver on our promise. That’s why.
The Partnering Platform for Orphan Drug Originators
Global reach, local expertise — hand-selected and assessed for proven Rare Disease capabilities and performance.
Having a strong reputation and large salesforces for high-revenue products does not automatically make a company the right licensing or distribution partner for your Rare Disease assets in non-core markets. Rare Disease requires a different mindset, different capabilities, and different ethics.
subrosa — as the end-to-end provider behind XCLR8ED orphan-drug commercialization — identifies the right partner in every market worldwide. Through rigorous assessments, subrosa Alliances’ experts hand-select local or regional commercial licensing and distribution partners, as well as biopharma companies for clinical co-development or commercial collaboration. All candidates must demonstrate proven orphan-drug performance across market access, regulatory, supply chain, medical affairs, sales execution, and — most importantly — ethics and compliance. This includes markets that are complex but hold meaningful patient populations; in Rare, Ultra-Rare, and Nano-Rare, every patient counts.
subrosa Alliances management teams evaluate and select the best solutions for your non-core markets, manage relationships, monitor performance, and safeguard long-term considerations such as reference pricing and re-import dynamics where relevant. We can also support you by managing your existing alliance partners as part of your alliance-management structure — or, conversely, by identifying the right additive drug to strengthen the effectiveness of your core-market sales teams.
How we hand-select the right commercialization partner
Pre-selected partners
Client’s go-to-market strategy
Client-specific assessment and selection of the right commercialization partners
Regular partnering assessments
Assessment criteria
From selection to alliance management
Alliance management dimensions
Add-on services & brands
How to have commercial success with a low risk profile, helping Rare Disease patients in non-core markets.
Global (ex-US) local expertise, hand-selected and assessed for proven orphan drug capabilities and performance.
The complete finance function for biopharma start-ups
For over 16 years, subrosa has partnered with 121 biopharma start-ups and university spin-offs, delivering the full spectrum of financial services required throughout their growth journey. Our CFO services teams anticipate industry shifts and the complex demands placed on biotech finance leaders, offering practical, high-impact solutions — from designing finance structures at any scale to managing planning, controlling, reporting, accounting, HR, and administrative operations. In numerous early-stage organizations, we serve as both the CFO and the complete finance department during the foundational stages.
Financial Planning
- Budget planning and scenario analyses
- Preparation of long-term financial planning, including P&L, cash flow, and balance sheet
- Cap tables and waterfalls
- Analysis of readiness for the investor, i.e. financial circumstances and financial goals, etc.
Accounting
- Digitization of financial processes
- Debtors, creditors, and asset accounting
- Payments and cash management
- Annual financial statements
- Payroll accounting
- etc.
Personnel
- Digitization and optimization of personnel processes
- Support human resources strategy and ad-hoc requests
- Preparatory payroll accounting (in cooperation with a tax consultant), etc.
Controlling / Reporting
- Set up reporting and controlling processes
- Introduction of cost centres and department codes
- Tool-based digitization of controlling
- Investor reporting
- Prepare ad-hoc analyses
- etc.
Administrative
- Introduction of administrative processes
- Preparatory accounting
- Cash management
- Credit cards and travel expenses
- Document and contract management
- Digitization of financial workflows, etc.
Michael KringHead of Funds & M&A, CEO Hightechservices
Need a partner and advisors focused exclusively on biopharma university spin-offs and startups?
We offer our services through the entire life cycle of a start-up.
Pre-Seed / Seed. Potentially scalable idea for a product or service targeting a market that is supposed to generate value. Not founded yet / just founded.
Start-Up. Series A funding enables you to build up your team and infrastructure. Early-stage start-up.
Grow Up. This phase is about performance and growth, which depends on scalable and efficient processes. Late-stage start-up.
Succeed. The company transitions to a new level via buyout, acquisition, trade sale, or IPO. Exit-stage.
Securing non-dilutive funding for your R&D
As an integrated component of the subrosa global ecosystem, subrosa Capital provides holistic support in identifying, shaping, and securing non-dilutive funding for your R&D programs. We combine scientific understanding, financial expertise, and strategic positioning to ensure that every grant application is not only competitive, but aligned with your long-term development and financing roadmap.
Our teams help you navigate the increasingly complex landscape of national and international grant opportunities — from early-stage innovation funding to large multi-year R&D programs. We assess eligibility, optimize your strategic fit, strengthen your scientific and financial narrative, and prepare all required materials with the precision expected by funding bodies. We have successfully executed 61 grant applications to date.
Beyond individual applications, we build a long-term grant strategy that integrates seamlessly into your overall financing plan. This includes portfolio-level planning, timing of submissions, alignment with clinical and regulatory milestones, and the orchestration of multiple funding streams to reduce dilution and extend your runway.
In the short term, we help you win the grants that matter. In the long term, we ensure your organization has a structured, sustainable approach to securing non-dilutive capital — supporting your science, strengthening your valuation, and accelerating your path to market.
A sharper narrative, stronger numbers
We accelerate your fundraising by shaping a clear, investor-ready story, building robust financial foundations, and connecting you with the right capital partners. Our teams ensure you enter every investor conversation with precision, confidence, and a compelling case for value creation.
Fundraising in biopharma requires more than a strong science narrative — it demands financial discipline, strategic clarity, and the ability to translate complex innovation into a credible investment opportunity. subrosa brings all three together. We refine your positioning, strengthen your financial model, and prepare the materials investors expect at each stage, from seed to Series rounds, but also non-dilutive funding and grants for our clients’ R&D. We would also look for co-development partners providing support at the clinical stage.
We help you identify the right investors — those aligned with your science, your timelines, and your long-term strategy — and guide you through a structured, efficient fundraising process. Whether you need support in shaping your equity story, preparing due-diligence packages, or navigating negotiations, we provide the expertise and bandwidth to move fast and reduce risk.
With subrosa, you approach the market with a sharper narrative, stronger numbers, and a more compelling investment case — increasing your chances of securing the capital you need to advance your pipeline and scale your company.
Turning innovative science into value for patients
subrosa Capital identifies, evaluates, and executes transactions that strengthen your portfolio, expand your capabilities, and accelerate sustainable growth. We combine rigorous financial analysis with the deep scientific and operational expertise of the subrosa Group, enabling you to pursue M&A with clarity, precision, and strategic intent.
Our teams uncover the right opportunities across the full spectrum of transaction types — acquisitions that complement your pipeline, divestments that sharpen your focus, strategic partnerships that unlock new markets, and asset swaps that optimize your portfolio. Every opportunity is assessed not only for financial fit, but for scientific relevance, regulatory feasibility, commercial potential, and long-term value creation.
We manage the entire M&A process end-to-end: from target scouting, valuation, and due-diligence orchestration to negotiation, deal structuring, and post-transaction integration. Because we understand both the science and the economics, we ensure that each transaction is grounded in realistic assumptions, operational feasibility, and a clear path to value.
Our track record speaks for itself: 38 successful biotech M&A exits, including 7 IPOs — 5 of them on Nasdaq. This experience allows us to anticipate challenges, navigate complexity, and execute transactions that deliver measurable impact.
With subrosa Capital, you gain a partner that sees the full picture — scientific, financial, operational, and strategic — and translates it into M&A decisions that move your company forward.
Distinctive expertise & community
The subrosa health group combines M&A consulting resources, operational expertise, and access to a highly connected international network. This ecosystem enables cross-pollination across our global community and gives clients practical support not only in selecting the right partners, but also in managing alliances, coordinating execution, and creating additional strategic and financial upside over time.
subrosa Capital’s teams also maintain close access to capital sources and can support financing discussions where helpful, helping clients strengthen optionality and advance funding, partnership, and exit pathways as their assets mature.
Built for speed
We don’t promise what we might not be able to keep.