Compliance Meets Capital: Biotech Startup Secures $5M in Follow-On Funding

Biotech & Pharma

Compliance Meets Capital: Biotech Startup Secures $5M in Follow-On Funding

Customer: Early-stage biotech company funded by NIH

The Challenge

Navigating the complex world of research funding is no small feat—especially for early-stage biotech startups backed by grants from the National Institutes of Health (NIH). This company was pushing the boundaries of innovation, but behind the scenes, major financial roadblocks were putting its future at risk.

Key main points included:

Manual R&D tracking led to errors and inefficiencies: Time-consuming spreadsheets and inconsistent entries slowed everything down.

ASC-730 confusion created audit risks: ASC-730 compliance confusion: The team struggled to keep up with stringent accounting standards for R&D costs, risking audit red flags.

Disorganized reports threatened future NIH funding: Without clean, accurate reporting, the company risked losing the trust of both NIH auditors and potential investors.

These challenges were more than just technical headaches—they threatened the company’s ability to secure future funding and continue its critical research.

Our Solutions

To help the startup regain control and build a foundation for sustainable growth, we implemented a three-part financial transformation:

Automated R&D Tracking

We introduced intelligent, real-time systems that streamlined the tracking of R&D costs. This eliminated manual entry errors and ensured every expense was properly documented—boosting accuracy and saving countless hours.

Built-for-GAAP Reporting Framework

By aligning financial processes with GAAP standards, we enabled the creation of investor-ready, audit-compliant reports. This brought clarity, professionalism, and consistency to all financial disclosures.

Strategic Investor Reporting

We helped develop polished, comprehensive reports that clearly communicated the company’s financial health and compliance status—instilling confidence in both NIH auditors and future investors.

The Results

100% NIH Compliance

The company passed its audit with flying colors—achieving full compliance with ASC-730 regulations and receiving zero audit observations.

60% Reduction in Reporting Workload

Thanks to automation, the finance team cut down manual reporting work by more than half—freeing up time for strategic planning.

$5M in Follow-On Grant Funding Secured

With clean, transparent financials and full compliance, the company successfully secured an additional $5 million in NIH grants—fueling the next phase of research and growth.

Let’s Build Your Biotech Breakthrough

Whether you're pursuing your first grant or preparing for Series A, financial clarity is key. Let us help you align compliance, reporting, and strategy—so you can focus on what really matters: advancing science and saving lives.