Industry leaders at an LSX Investival panel urged biotechs to raise scientific maturity and clinical validation before seeking large investment rounds. Speakers from Blackstone, Limerston Capital and Apposite Capital emphasized differentiating science, platform readiness, and the growing role of alternative financing such as royalty deals. Panelists told entrepreneurs that capital is available but criteria have hardened: investors increasingly prefer assets with clinical validation or pathways to near-term commercialization. The discussion highlighted successful examples and recommended tighter go‑to-market planning, clearer IP, and founder-led investor engagement. Clarification: ‘Valley of death’ refers to the financing gap between early discovery and late-stage clinical or commercial milestones when traditional VC funding is harder to secure.