Women’s Health is Personal. And the Money Still Isn’t There.
Navigating Biotech/FemTech Venture Financings in 2025
Women’s Health is Personal. And the Money Still Isn’t There.
This isn’t just business for me. It’s personal. Not just because I’m a woman, but because I watched my mother suffer a brutal, unnecessary death from a women’s health issue. If research dollars had been allocated differently, she might still be here. If women’s healthcare had been a priority instead of an afterthought, her story—and thousands like hers—could have ended another way.
And yet, here we are.
As of 2020, only five percent of global R&D funding was allocated to women's health research. Only twelve percent of Alzheimer’s research focuses on women, despite the fact that women make up two-thirds of Alzheimer’s patients. The NIH allocates just four percent of its cardiac artery disease research budget to women’s health, even though heart disease is the number one killer of women in America.
Women aren’t a niche market. We aren’t a special interest group. We are half the population and drive eighty percent of healthcare decisions. So why are we still begging for scraps?
My first piece in this series is for the biotech and femtech founders actually doing the work. The ones pitching investors who still don’t see the market. The ones trying to raise capital in a system that still undervalues them.
Let’s talk about term sheets. Because the fight for women’s health doesn’t just happen in hospitals and research labs. It happens in boardrooms, in negotiations, and across conference tables. If you’re a femtech founder, knowing how to play this game—and win—isn’t optional. It’s survival.
The VC Landscape is Shifting. Here’s What That Means for You.
Venture capital has always been a boys’ club, but 2025’s market is even tighter. For women’s health, biotech, and femtech founders, the challenge isn’t just proving that your company can scale. It’s convincing investors that your industry is worth betting on at all.
That means negotiating better, smarter, and harder.
Here’s what you need to watch for in today’s term sheets:
Valuation is getting cutthroat. Investors are playing it safe. If you’re a femtech founder, you need data, traction, and a bulletproof market case to fight for a fair valuation. Women’s health isn’t a niche. It’s a trillion-dollar industry waiting to be tapped.
Liquidation preferences can kill your exit. If you don’t fight for the right terms, investors will take their money before you see a dime. Push for a 1x non-participating preference. Anything beyond that is a land grab.
Board seats are power moves. Your investors aren’t just buying in. They’re buying control. Make sure your term sheet protects your voice and ensures the right balance of founder influence and technical expertise.
Milestone-based funding can be a trap. In biotech, staged funding tied to clinical or regulatory milestones is standard. But are those milestones realistic? Are they aligned with your operational timeline, or just a way for investors to hedge their bets? Negotiate accordingly.
Femtech Founders, Here’s How You Stay in Control.
Make the market case impossible to ignore. Women’s health is not a passion project. It’s a multi-billion-dollar opportunity that’s been ignored for too long. Show your investors the data. Show them the unmet demand. Make it impossible for them to call it niche.
Anticipate the bias. Then outsmart it. Investors will question you in ways they’d never question a male founder. Will women actually buy this? Can your team handle scale? You already know what’s coming. Have the answers ready. Bring in legal and business advisors who won’t let them back you into a corner.
Pick investors who actually get it. Money is money, but strategic capital is everything. Work with investors who have biotech, healthcare, or femtech experience. People who bring more than just cash to the table.
You Don’t Just Need a Lawyer. You Need a Closer.
A bad term sheet can cost you your company before you even get started. It’s not just legalese. It’s power, control, and the future of your business.
At Esse Law, I don’t just negotiate contracts. I architect deals that protect your vision and your equity. I fight for founders because if we’re going to change the system, we need more women at the top. Not just waiting for a seat at the table. Owning the whole thing.
The Bottom Line?
If you’re a femtech founder, you’re not just building a company. You’re reshaping the future of healthcare.
A smart, founder-friendly term sheet isn’t a luxury. It’s the foundation of everything that comes next. Get it wrong, and you’re handing over power before you even get started. Get it right, and you’re building something unstoppable.
So let’s get this right. Let’s stack the odds in your favor.
Ready to fight for the deal you deserve? Let’s talk.