A European founder targeting the US market shouldn't dismiss European VCs. You might be the top priority in a European firm's portfolio, receiving more attention and support than you would as a lower-priority deal for a top-tier, oversubscribed Silicon Valley firm.

Neoc Bio is conducting its Phase 1 trials exclusively in the United States. The CEO identifies this as a strategic choice, believing that generating clinical data solely from the US will be viewed more favorably by American investors, regulators, and potential partners, positioning the company for future financing and development success.

Instead of relying on warm introductions, Wyatt McDonnell identified his ideal investors by researching who wrote the first checks into companies he admired. He then created a short list and conducted direct cold outreach, a strategy that quickly led to a match with their first investors.

The European biotech's US listing strategy is threefold: to be present in its primary commercial market, to offer stock options to attract and retain specialized American talent, and to access a deeper pool of specialist investors that is unavailable in Europe's fragmented public markets for growth companies.

For its seed extension, Infinitopes deliberately targeted Amplify Bio, a US investor, not just for capital but for specific experience in cancer vaccines and AI. This move provides deep domain expertise and strategically positions the company for future access to larger US capital markets for subsequent financing rounds.

Recent billion-dollar successes in the French biotech ecosystem, such as Abivax and Medincel, are largely credited to their management teams. These leaders often have significant experience working in the US and other countries. This global perspective enables them to develop assets for a worldwide market, navigate different regulatory environments, and attract international funding, breaking the mold of previously localized French biotechs.

Historically, the French biotech scene was held back by a lack of large domestic investment funds. This has changed significantly, with local VCs now raising large funds capable of leading nine-figure rounds. This growing financial muscle allows French biotechs to scale effectively within their own ecosystem.

Unlike typical biotechs, MedinCell developed without venture capital or angel investment. They focused on operating as a commercial entity from the start, “tightening their belt to the tenth degree.” This unconventional path forced extreme capital efficiency but may have slowed talent acquisition.

MedinCell's location in Montpellier, France, was a strategic choice, not an accident. The city is a major research hub with a deep history in medicine and pharmacy, home to the "Pope of PLA polymers." This ecosystem provided the foundational science and talent for the company's success.