Reguliert
- Risikostufe
- Sehr hoch
- Risiko-Rendite
- Schlecht
- Start ab
- €100
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Dendropharm
Deutschland
Nanotechnology for Potent Painkillers Without Addiction or Sedation
Eckdaten
- Geschätzte Rendite
- 6.8–8.16×
- Schätzung der Plattform
- Unternehmensbewertung
- €10,000,000
- Start ab
- €100
- Zielbetrag
- €1,000,000
Was Ihnen gehört, wie es sich auszahlen kann, und wann
Wie kann es sich auszahlen?
Die Plattform schätzt 6.8–8.16×
In der Regel nur, wenn das Unternehmen verkauft wird oder an die Börse geht. Schätzungen sind eigene Angaben der Plattform.
Kapitalverlustrisiko. Die meisten Startups scheitern; Schätzungen sind eigene Angaben der Plattform. Anteile sind vor einem Exit schwer zu verkaufen.
Würde die KI investieren?
KI 51 MittelUnsere KI gibt diesem Projekt 51 von 100 Punkten: Mittel. So funktioniert der KI-Score
Informationen, keine persönliche Anlageberatung. Der KI-Score bewertet die von der Plattform veröffentlichten Dokumente, kann falsch sein und sagt keine Renditen voraus.
KI-Analyse
KIDendroPharm GmbH — Crowdfunding Investor Memo
Nanotechnology for potent painkillers without addiction or sedation.
Sector: Pharma / nanotech drug delivery (deeptech, regulated) · Stage: Pre-clinical (Phase I planned Q3 2026) · HQ: Berlin, Germany · Raise: EUR 100k threshold – EUR 1.0m maximum
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Why this score: |
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AI SCORE |
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51 / 100 |
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⚠️ Caution |
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ℹ️ This is not investment advice. The purpose of this overview is to help potential investors preselect crowdfunding projects quickly without making a final investment decision. Before investing, the final selected project should be reviewed in detail based on the information provided by the company on the respective crowdfunding platform. AI can make mistakes, so you need to double-check data. |
🏢 Company description
DendroPharm GmbH (Berlin; HRB 151543 B) is a pharmaceutical R&D and contract-manufacturing company developing a nano-carrier platform branded “NanoPain™” / “NanoOpiate.” The company reports the carrier is too large to cross the blood-brain barrier, so it delivers an already-approved opioid to inflamed or post-operative tissue rather than the brain, aiming to relieve pain without the addiction and respiratory-depression risks of conventional opioids; the intravenous candidate is “DENA-19.” Founded in 2013 as a spin-off from Freie Universität Berlin (the project team reports it “took over the project in 2017”), it is led by founder/CEO Dr. Sam Dylan Moré, who holds 56.39% of the equity. The company reports a 12-person specialist team across more than 650 sqm including 300 sqm of cleanrooms and 5 analytical laboratories, ISO 9001 certification since 2015, GMP certification in 2022 (LaGeSo), and a completed manufacturing-authorisation inspection in September 2025. Current revenue is project/CDMO-based (the company reports ~EUR 600,000 of 2026 customer inquiries) alongside a veterinary cat-ointment out-licensed in 2021 and expected to be approved in 2026. This round — a profit-participating subordinated loan with an EUR 100,000 threshold and EUR 1,000,000 maximum — is earmarked to fund the first human clinical trial (Phase I) and to advance out-licensing of the Nano-Pain technology. The company separately plans a EUR 3–6m venture-capital equity round to enable Phase II in 2027.
🎯 Potential returns
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Target return |
Time horizon |
Target basis |
AI view on reaching this goal |
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🎯 6.80–8.16x |
⏱ ~5 yrs (to 30.04.2031) |
Company-provided — the company states 48% (base) to 52% (target) IRR per year over a 5-year period, i.e. 6.80x–8.16x. |
Plausible only on a successful out-licensing exit; under the VIB’s neutral/negative cases the multiple is not achieved and capital loss is possible. |
📈 Path to target return
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Company methodology |
Returns are success-based, not contractual. During the term the investor earns an annual ‘success interest’ equal to their participation quota × the company’s prior-year net profit; at the end of term a ‘bonus interest’ based on company value (or, absent a recent financing round, 100% of last-year revenue); and, on a sale of >50% of shares/assets, an ‘exit interest’ (a pro-rata share of net proceeds) plus principal back. The 48–52% IRR / 6.8–8.16x figures are the company’s modelled outputs assuming positive growth and a successful out-licensing exit. |
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Comparable exits cited |
Not disclosed in provided materials. The company estimates lifetime out-licensing revenue of EUR 1.2–1.8bn over the patent term (company-stated, unverified), with 20–30% within the first four years. |
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Milestones expected |
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💶 Valuation
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Pre-money valuation |
EUR 10.0m (set by the issuer, before the campaign). |
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Post-money valuation |
EUR 11.0m implied at the EUR 1.0m maximum raise (derived). |
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Instrument |
Partiarisches Nachrangdarlehen — a profit-participating subordinated loan. This is NOT equity: the investor receives no shares and no ownership. |
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How the valuation was set |
Methodology not disclosed in provided materials — the EUR 10m figure is stated as issuer-determined, with no DCF or comparables basis provided. |
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External benchmarks |
Insufficient comparables for this sector and stage; no third-party valuation was found in public sources. The asset is pre-Phase-I, so the figure is forward-looking on out-licensing potential. |
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Notable terms |
A ~10% valuation bonus applies to investors within 31 days of public presentation (EUR 100 → 0.001000% participation quota vs 0.000909% standard). Issuer-borne costs total 15% of amounts raised (FunderNation 6%, pooling ~6%, marketing up to 3%). |
📜 Instrument & investor terms
What you own
You own a profit-participating subordinated loan (German: partiarisches Nachrangdarlehen), not shares. There is no share class because this is debt, not equity — you become a lender to the company, not a co-owner, and you do not appear on the company’s cap table. The loan is made directly to DendroPharm (not through a nominee or SPV), but a separate pooling agreement via FunderNation Support UG provides a collective coordination procedure (for example, to negotiate a whole-loan buy-…
Die vollständige Analyse behandelt den Kreditnehmer bzw. das Unternehmen, die Sicherheit, den Cashflow, die Risiken und ein Fazit. Melden Sie sich an, um sie zu lesen.
Informationen, keine persönliche Anlageberatung. Der KI-Score bewertet die von der Plattform veröffentlichten Dokumente, kann falsch sein und sagt keine Renditen voraus.
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