Jumar Masterclass: Funding the Journey: $2M–20M for Early-Stage Biotech

Seed-stage founders in this room sit in the hardest part of the biotech funding gap.

They have early data but are not yet “de-risked” by institutional VC standards. The gap between a $2.5M seed round and an $11M Series A is not just financial, it’s a shift in what investors expect, how capital is structured, and what data is required to progress. Globally, 66% of Australian startup deals now include at least one international investor, meaning local founders need to understand both landscapes.

This masterclass is designed to give founders the frameworks, the vocabulary, and the candid perspectives they need to move from early data to a credible raise.

Key topics include:

• What investors expect at $2M vs $20M

• What constitutes "investable data"

• Seed vs Series A — what actually changes

• The capital landscape: VC, pharma CVC, non-dilutive, RDTI

• AI and quantum as emerging investor expectations

• and more

Event Agenda:

Meet the Speakers

Keynote Speaker

Alex Delbridge, Principal at Brandon Capital

Alex is a Principal at Brandon’s Melbourne office working on investments in Australia, in the US, and in other international markets. Previously, he was at Omega Funds in their Boston office, where he worked across therapeutic areas and with both preclinical and clinical stage companies. Alex served as a Board Observer at Scorpion Therapeutics (acquired by Lilly for $2.5bn), BridgeBio Oncology Therapeutics (NASDAQ: BBOT), and for NRG Therapeutics. Before Omega, Alex worked at Biogen in the Multiple Sclerosis Research Unit and at Putnam Associates, a life sciences specialist consultancy focused on drug pricing, access and reimbursement. Following a decade in Boston, Alex returned home to Melbourne in 2025. Alex has a Bachelor of Biomedical Science (Degree with Honours) from The University of Melbourne, a PhD in Cancer Biology from The Walter and Eliza Hall Institute (The University of Melbourne), and a Graduate Certificate in Advanced Learning and Leadership from The University of Melbourne. Alex has authored peer-reviewed publications in journals including Blood, Cell, Frontiers in Neuroscience, Genes and Development, Journal of Experimental Medicine, and Nature Reviews Cancer.

Panel Speakers

Elaine Stead, Principal at Main Sequence

Elaine Stead is a member of the investment team at Main Sequence, with a focus on the “Humanity Scale Healthcare” challenge. With a background spanning science, entrepreneurship, and venture capital, she's known for her enduring roles in innovation and has an investment track record that extends to over 80 startups across Australia, the United States and Southeast Asia. Previously, Elaine served as the Director of New Ventures and Entrepreneurship at the Australian National University (ANU), leading the startup and equity investment strategy of knowledge translation. She has also been a founder of venture businesses, including Blue Sky VC, Human VC and Tribe Global Ventures. Elaine has advised state governments on innovation policy, directed innovation initiatives, and served on boards in Australia and the US. She's coached startup founders nationwide and contributed to a variety of publications. In all avenues, Elaine prioritises human-centricity, emphasising authentic connections, vulnerability, and compassion. She advocates for values-driven innovation and a desire to make better that which can be. Elaine holds a Ph.D. in Biochemistry (Stem Cell Biology) and a B.Sc.in Biochemistry and Microbiology, both from the University of Adelaide.

Donmienne Leung, Director II, Head of Ventures Europe at AbbVie
Donmienne is a strategic thinker and influential drug hunter with more than 20 years of experience in drug discovery. As Head of AbbVie Ventures Europe, she leads venture investments and serves as a board member for portfolio companies. AbbVie Ventures focuses on early-stage, preclinical opportunities in core therapeutic areas and pioneering platforms with the potential to deliver novel drug targets and modalities. Donmienne is passionate about discovering innovative science that can advance into approved medicines for patients with unmet needs. She holds a PhD in Chemistry from the University of Queensland, completed postdoctoral training at The Scripps Research Institute, and spent 16 years at Eli Lilly in the United States advancing biotherapeutics research that contributed to drugs reaching approval. Having lived in multiple countries, she brings a global perspective and a strong ability to build relationships across diverse ecosystems and teams.

Gerard Gibbs, Industry Growth Program Adviser at the Department of Industry, Science and Resources
is a strategic thinker and influential drug hunter with more than 20 years of experience in drug discovery. As Head of AbbVie Ventures Europe, she leads venture investments and serves as a board member for portfolio companies. AbbVie Ventures focuses on early-stage, preclinical opportunities in core therapeutic areas and pioneering platforms with the potential to deliver novel drug targets and modalities. Donmienne is passionate about discovering innovative science that can advance into approved medicines for patients with unmet needs. She holds a PhD in Chemistry from the University of Queensland, completed postdoctoral training at The Scripps Research Institute, and spent 16 years at Eli Lilly in the United States advancing biotherapeutics research that contributed to drugs reaching approval. Having lived in multiple countries, she brings a global perspective and a strong ability to build relationships across diverse ecosystems and teams.

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The masterclass will be followed by an optional tour of Jumar Bioincubator. Let us know in the registration form if you're interested in participating.

NOTE: You may be photographed or videoed while attending this event for marketing purposes: please approach the organiser if you have questions, concerns, or do not wish this to happen.

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About 

Jumar Bioincubator serves as a ‘first home’ for 30+ biotech ventures in Australia, providing affordable lab and office space alongside practical support to advance early scientific discoveries. Residents gain access to world-class facilities, a dedicated support team, and curated entrepreneurial training and events.

Established by CSL, WEHI and the University of Melbourne, and backed by Breakthrough Victoria with Cicada Innovations as operator, Jumar’s mission is to connect early-stage and scaling biotech ventures with the support needed to translate discoveries into real-world therapies and build a community of scientists equipped to lead successful biomedical ventures.