Unlike traditional tech startups, biotech and medtech ventures are judged not on CAC or churn, but on clinical validation, regulatory progress, and reimbursement strategy. As Panakès Partners' Senior Analyst Annalisa Coraducci reveals, the real KPIs in life sciences are the milestones that systematically de-risk the long road to market. Read more: https://open.substack.com/pub/mbriyo/p/what-drives-vcs-to-invest-in-biotech?r=8bqf88&utm_campaign=post-expanded-share&utm_medium=web