VANCOUVER, BC — July 2025

Chart: Distribution of Biopharma Private-PIPE Rounds

New analysis from Collabrity, the Biotech Private-PIPE Company™, reveals a decisive trend:
in nearly every major private biopharma financing over the past 18 months, company
executives—not placement agents or investment banks—led the raise.

Collabrity examined 410 private biopharma financings of $15 million or more—through
Seed, Series A-Z, and other private placement financing rounds—closed between January
2024 and June 2025. Private placements in private equity financing rounds that meet these
criteria are defined as “Private-PIPEs”. All were drawn from the curated, quality-checked
archive of the Collabrity Report which reports on biopharma financings and acquisitions
every workday. Public company financings and crossover rounds leading to IPOs were
excluded.

The results are striking:

“When it comes to Biopharma Private-PIPEs, it’s Executives 403, Bankers 7.”

• 98% of these financings were completed without the involvement of a placement agent,
investment bank, or broker.

• Executives raised $34.4 billion, while bankers accounted for just $0.5 billion.

Debunking Two Myths in Biopharma Fundraising
This analysis gives the lie to two enduring misconceptions:

1. “I need a placement agent.” In practice, nearly all zero-retainer bankers and brokers
failed to close successful Biopharma Private-PIPEs during the 18-month study period.

2. “I only need to pay on success.” In reality, 99% of successful Boards retained proven CXO
fundraisers—typically at $50K/month or more—whose primary responsibility was raising
capital.

Successful fundraisers are seasoned C-level executives with strong Private-PIPE track
records. Collabrity draws executives of the same phenotype, known as Collabrity Executive
Advisors (CEAs), from their ranks. The CEAs currently available through Collabrity have
collectively raised over $1 billion in Biopharma Private-PIPEs.

Collabrity’s Model: Executive-Led, Compliantly Structured
Under the supervision of its associated broker-dealer Finalis LLC, Collabrity has pioneered a
compliant and collaborative model that empowers elite executive fundraisers to assist with
private biopharma capital raises.

Collabrity supports not only biopharma, but also diagnostics, devices, drug delivery, and AI
powered healthtech companies. The firm is unlocking an estimated $23 billion annual
market opportunity in private biopharma capital raises alone.

About the Collabrity Report

The Collabrity Report powers the firm’s insights with curated, high-quality investment data
focused exclusively on the biotech sector. It draws from AnNie Qi™, Collabrity’s proprietary
AI + natural human intelligence investor database for qualifying investors, updated daily by
the firm’s analysts. The Private-PIPE study was derived entirely from these internal, client
exclusive sources.

About Collabrity Inc.
The Biotech Private-PIPE Company™
Collabrity provides full-service fundraising and advisory solutions to private biotechs
raising capital. The firm’s innovative model centers on continuity—ensuring that the
individuals who assist in raising capital remain accountable for delivering value post-financing. Founder and CEO Christopher Lehman is a 30-year biotech veteran, proven
CFO/CBO fundraiser, and FINRA-licensed investment professional (Series 82/79), with 28
transactions totaling over $950 million in announced value.

Media Contact:

Christopher Lehman
Founder & CEO, Collabrity Inc.
Email: chris@collabrity.com
Website: https://collabrity.com

This material has been prepared for information and educational purposes only, and it is
not intended to provide, nor should it be relied on for tax, legal, or investment advice. You
should consult with your own tax, legal, and financial professionals for your specific
situation.

The views and opinions expressed in this article are those of the author and do not
necessarily reflect the views or opinions of Finalis Securities, LLC.

Securities offered through Finalis Securities LLC Member FINRA/SIPC. Collabrity Inc and
Finalis Securities LLC are separate, unaffliated entities.