Investors, Incubators & Accelerators
Venture funds, incubators and accelerators in life sciences see the same pattern across their portfolios: promising science, a first European trial or a first hospital customer, and no data protection function. The gap surfaces at the worst moments — in a pharma partnering process, in a Series A data room, in a hospital procurement, or when a supervisory authority writes.
For an investor the questions are two. Before the investment: is the company's data — patient, genomic, clinical, AI training data — lawfully held, transferable and defensible, or is there a liability in the cap table? After the investment: how does every portfolio company reach a credible compliance position quickly and at a cost that a seed or Series A budget can carry?
iliomad answers both. We run data protection and AI Act due diligence on target companies, and we operate portfolio programmes in which each company receives a fixed-fee DPO or representative mandate on preferential terms, with the fund seeing an aggregate risk view.
What an investor should know before and after the deal
Data protection findings rarely stop a life-sciences deal, but they change its price and its warranties, and they surface again at exit. The items below are what a specialist due diligence covers and what a portfolio programme fixes.
A target processing health or genomic data should be able to show a record of processing, DPIAs, DPAs with its CROs and vendors, valid consents or research legal bases, a transfer mechanism for any US flows, and the appointments required by Art. 27 and 37 GDPR. iliomad reviews the file, scores the gaps and quantifies the remediation — see due-diligence audits.
Companies developing or deploying AI in healthcare acquire provider or deployer obligations under Regulation (EU) 2024/1689, with high-risk classification for medical device software. The cost and timeline of compliance belong in the investment case. iliomad classifies the systems and estimates the programme — see AI compliance services.
Findings become disclosure schedules, specific indemnities and post-closing covenants. A remediation plan with owners, timelines and a fixed price gives both sides a clean basis to negotiate. iliomad produces the plan and, if engaged, executes it after closing.
A fund, incubator or accelerator that introduces iliomad to its portfolio gives each company access to a fixed-fee DPO, representative or AI Officer mandate on preferential terms, with a common methodology and a common reporting format. The fund receives an aggregate view of portfolio risk without handling any company's data.
Pharma partners and acquirers run their own data protection diligence. A portfolio company that has been under a mandate for two years walks into the data room with a complete, current file. This is the same file that supports market authorisation, hospital procurement and grant reporting.
iliomad works with funds and accelerators under a business introducer agreement that sets out the referral terms, the preferential pricing for portfolio companies and the confidentiality rules. Portfolio companies contract directly with iliomad; the fund is never a party to the processing.
How iliomad Health Data can help you
iliomad Health Data has worked alongside life-sciences investors since its foundation, including as a compliance partner introduced by a leading European life-sciences venture fund to its portfolio. We know what a data room needs to contain, what a pharma partner will ask and what a seed-stage company can afford. Due diligence is delivered as a fixed-scope report; portfolio programmes are structured with the fund and priced per company.
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