Regolamentata
- Livello di rischio
- Massimo
- Rischio-rendimento
- Scarso
- Inizia da
- €100
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Dendropharm
Germania
Nanotechnology for Potent Painkillers Without Addiction or Sedation
Dati principali
- Rendimento stimato
- 6.8–8.16×
- stima della piattaforma
- Valutazione
- €10,000,000
- Inizia da
- €100
- Obiettivo
- €1,000,000
Cosa possiedi, come può rendere e quando
Come può rendere?
La piattaforma stima 6.8–8.16×
Di solito solo se la società viene venduta o quotata in borsa. Le stime sono dichiarazioni della piattaforma stessa.
Capitale a rischio. La maggior parte delle startup fallisce; le stime sono dichiarazioni della piattaforma stessa. Le quote sono difficili da vendere prima di un'exit.
L'IA investirebbe?
IA 51 MedioLa nostra IA assegna a questo progetto 51 su 100: Medio. Come funziona il punteggio IA
Informazioni, non consulenza personalizzata in materia di investimenti. Il punteggio IA valuta i documenti pubblicati dalla piattaforma, può essere sbagliato e non prevede i rendimenti.
Analisi IA
IADendroPharm 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-…
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Informazioni, non consulenza personalizzata in materia di investimenti. Il punteggio IA valuta i documenti pubblicati dalla piattaforma, può essere sbagliato e non prevede i rendimenti.
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