HLTH cofounder Natalie Dolphin has 15+ years in marketing, BD & capital markets, helping companies go public & secure Series A/B funding.
The biotech sector has always thrived on storytelling. A compelling narrative can attract capital, energize researchers and capture the public imagination long before a drug makes it to market. But after years of market volatility and overpromises, I’ve noticed many investors are approaching new pitches with sharper scrutiny than ever.
Today, founders and executives face a challenge: How do you tell your story in a way that excites investors without triggering skepticism?
Shift your focus from hype to humility.
A few years ago, biotech IPOs and SPAC deals flooded the market with early-stage companies promising world-changing breakthroughs. The correction that followed left some investors wary, particularly in subsectors where scientific complexity collided with cultural baggage. Now, investors want evidence over enthusiasm.
This doesn’t mean biotech leaders should abandon their vision. Not at all. It means pairing big-picture ambition with grounded, data-driven communication. Highlighting clear milestones, such as successful toxicology studies, IND submissions or FDA designations, signals discipline and progress, while still leaving room to inspire.
Understand that precision matters.
In my experience, the most credible biotech stories today are the ones that strike a balance between accessibility and technical depth. Investors don’t need every receptor-binding assay explained, but they do need to know why your approach is different.
Explaining mechanisms in plain language, such as how a compound avoids certain side effects, or how it targets multiple receptors for a more durable effect, creates trust.
Companies that fail here often fall into jargon, or worse, vague promises. Effective leaders learn to translate complex science into terms that resonate with both specialist and generalist investors.
Be transparent—even about your setbacks.
In today’s age of skepticism, silence can be as damaging as overstatement. Investors typically want to see a steady stream of updates that are honest about both wins and setbacks. Communicating when a trial design changes or when regulators request additional data can build credibility.
The alternative erodes trust and can sink a valuation.
Make storytelling part of your development strategy.
From my vantage point in strategic communications, the biotech companies that succeed in capital markets are the ones that treat storytelling as part of their development strategy, not an afterthought. That means aligning public and investor relations and scientific teams to ensure consistent messaging across every channel, such as press releases, investor decks and conference presentations.
The biotech sector is full of brilliant scientists, but not all are natural storytellers. That’s where communications strategy becomes a competitive edge. A well-crafted narrative helps investors see not just the molecule in front of them, but the broader therapeutic and financial potential it represents.
What is the bottom line for investors?
Capital is still flowing into biotech, but selectively. Many investors are looking for disciplined operators with clear milestones and transparent communication. They want to know not just what your science could achieve, but how you plan to get there, step by step.
In short, I think the best biotech stories today are the ones that don’t feel like stories at all. They feel like disciplined, evidence-based plans, told with just enough vision to remind us why this field matters.
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