Capital for Cures 2026: 5 Key Takeaways from This Year's European Healthcare Dealmaking Series

For the second year in a row, SS&C Intralinks and Slate Mountains Capital brought together investors, biotech executives, healthcare innovators and financing experts across four of Europe's leading life sciences hubs — London, Amsterdam, Paris and Basel — for the Healthcare Dealmaking: Financing Strategies for Life Sciences event series, as part of our Capital for Cures initiative.

Designed to foster conversations about financing strategies in healthcare, the four-event series convened a highly curated audience of investors actively deploying capital, Phase II-ready biotech companies, healthcare executives and industry leaders. Discussions spanned fundraising readiness, royalty financing, artificial intelligence (AI), investor expectations and the evolving healthcare investment landscape.

While each city brought its own perspective, several themes emerged across the series. Here are five of the biggest takeaways from this year's Capital for Cures events.

1. Fundraising begins long before you need capital

Successful fundraising is rarely a last-minute exercise. Companies that wait until cash reserves begin to run low are already behind. Instead, founders should begin building investor relationships months — or even years — before they expect to raise capital.

As Sebastian Gensior, founder of Slate Mountains Capital, explained: "Be prepared. Have the right data in but also have the right relationships. Invest in your relationship building very early." Financing conversations often develop over long periods, with introductions made today resulting in deals much later. "The conversation you might have had in Amsterdam, in Paris, in London and Basel might pay off in a year because you met that person in the room that you wouldn't have met otherwise," Gensior added.

The events reinforced that networking isn't simply about immediate fundraising opportunities, but rather about creating trusted relationships that can support future growth.

2. Preparation has become a competitive advantage

Preparation extends far beyond refining a pitch deck. Today's investors expect organized documentation, a financing strategy and the ability to respond quickly during due diligence.

Industry leaders attending the events echoed the message that even the strongest science can lose momentum if companies aren't prepared to support it. Deals don't always stall because investors question the underlying innovation; they often falter because management teams can't provide timely answers, produce the required documentation or demonstrate that they're ready to execute.

Technology is also playing an increasingly important role in helping teams stay investor-ready. Solutions such as SS&C Intralinks DealCentre AI™ can help healthcare organizations centralize critical deal information, streamline due diligence workflows and quickly surface the insights investors need — helping teams respond with greater speed, consistency and confidence.

3. Investors are becoming more sophisticated and selective

Another recurring theme was the increasing sophistication of today's capital providers. Healthcare companies are no longer speaking to a single type of investor. Venture capital firms, family offices, royalty financing providers, pension funds, private equity (PE) firms and strategic pharmaceutical investors each evaluate opportunities differently and bring distinct expectations to the table.

Understanding these differences is becoming increasingly important. Companies must tailor both their fundraising strategy and messaging to the specific investors they hope to attract, recognizing that different sources of capital have different risk appetites, investment timelines and value creation objectives.

4. Relationships still drive healthcare dealmaking

Despite rapid advances in technology and AI, one point remained consistent throughout every discussion: healthcare remains a relationship-driven industry.

Virtual meetings have become commonplace, but they cannot fully replace face-to-face conversations built through trusted networks. This is why Capital for Cures has focused on highly curated, more intimate events rather than large conferences. Instead of brief introductions among thousands of attendees, participants can engage in meaningful conversations with carefully selected investors, founders and advisors.

As Gensior explained: "We bring people in the room that wouldn't otherwise meet ... And that's why they come to our events. That's the feedback we get all the time. 'I wouldn't have met that person if I hadn't gone to the event.' That's the best feedback for me."

5. Healthcare financing continues to evolve

The discussions also highlighted an investment landscape that is becoming increasingly dynamic. PE continues expanding into healthcare, new financing structures such as royalty financing are gaining traction, and institutional investors are becoming more active participants in the market. Meanwhile, pharmaceutical companies continue seeking innovative assets to replenish pipelines amid growing patent expiry pressures.

While capital remains available for differentiated companies with strong strategies, investors are applying greater discipline than in previous market cycles. Companies must demonstrate not only scientific excellence but also commercial readiness, execution capability and a clear path to market.

Looking ahead

Across London, Amsterdam, Paris and Basel, the conversations reflected the unique characteristics of each local ecosystem, but an underlying message remained consistent: The companies best positioned to secure funding are those that prepare early, build lasting investor relationships and understand what today's increasingly sophisticated capital providers expect.

The Healthcare Dealmaking: Financing Strategies for Life Sciences series continues to provide a forum where those conversations can begin, bringing together founders, investors and industry leaders to exchange ideas, build relationships and help accelerate the next generation of healthcare innovation.

As this year's Capital for Cures series demonstrated, successful fundraising begins long before companies start looking for capital. It starts much earlier with thorough early preparation, collaboration and trusted relationships built along the way. For healthcare innovators, that groundwork can turn promise into a successfully funded venture.

For more insights into the trends shaping healthcare fundraising and investment, watch Sebastian Gensior, founder of Slate Mountains Capital, in conversation with Roland Petrenko, Head of Healthcare & Life Sciences, EMEA, SS&C Intralinks, as they unpack the key takeaways from this year's Healthcare Dealmaking: Financing Strategies for Life Sciences series.