--- title: "BioTech Funding Portal Review 2026: Two Proposed Raises, No Live Offerings" url: https://altstreet.investments/platforms/reviews/biotech-fund kind: platform-review updated: 2026-11-10 description: "BioTech Funding Portal (biotech.fund) review 2026: a FINRA-registered Reg CF portal for life-science companies with no investor fee, two companies testing the waters on proposed $1M SAFE raises and no offering filed since its June 2026 launch." publisher: AltStreet (https://altstreet.investments) license: Public factual pages may be read, quoted and cited with attribution and a link. Bulk redistribution is not permitted. --- # BioTech Funding Portal Review 2026: Two Proposed Raises, No Live Offerings BioTech Funding Portal (biotech.fund) is a Regulation Crowdfunding portal only for life-science companies, open to accredited and non-accredited investors with minimums from $500. It filed its funding portal registration in November 2024 and announced its public launch on June 22, 2026; as of November 9, 2026 no company has filed an offering through it. Its offerings page lists two drug developers Testing the Waters, each proposing a $1 million raise on a SAFE: Glafabra Therapeutics (Fabry disease; $12 million cap, 20% discount, $1,000 minimum) and Energesis Pharmaceuticals (obesity; CrowdSAFE, $500 minimum). The terms are preliminary and the listings accept only expressions of interest. A fictional demo company sits beside them. Investors pay no portal fee; issuers' fees will appear in each Form C. AltStreet score: 25.0 (F), scored November 10, 2026. Method: https://altstreet.investments/platforms | Field | Value | | --- | --- | | Platform | BioTech Funding Portal | | What it is | Regulation Crowdfunding Portal (Life Sciences) | | Asset class | Biotech / Early-Stage Life Science Equity | | Website | biotech.fund | | Review first published | November 9, 2026 | | Last updated | November 10, 2026 | | AltStreet relationship | None: no affiliate, sponsorship or partnership | ## The short version BioTech Funding Portal is a niche version of Wefunder or StartEngine: a funding portal where US life-science companies (drugs, devices, diagnostics, veterinary products) can raise up to $5 million a year from the public under Regulation Crowdfunding, with each raise filed on a Form C and investor money held in third-party escrow until the company hits its minimum. It is run by BioTech Funding Portal LLC of Chicago, a subsidiary of BioTech Social, Inc., founded by neuroscientist Dr. Neva West (CEO) and crowdfunding-industry executive Brian Christie (chair). The registration is real and current: the CFPORTAL was filed November 8, 2024, FINRA's directory lists the portal (SEC file 7-474), and BioTech Social announced the public launch on June 22, 2026. No Form C has named the portal yet, so no offering has opened and no investor has bought anything through it. What it shows today are two companies Testing the Waters, a stage at which investors can only submit non-binding expressions of interest, beside a fictional demo issuer on the same page. The listings are detailed and sourced (an FDA orphan designation for Glafabra; preclinical obesity data for Energesis), and both show proposed terms: Glafabra lists a proposed $1 million raise on a SAFE with a $12 million valuation cap, a 20% discount and a $1,000 minimum; Energesis lists a proposed $1 million CrowdSAFE with a $500 minimum, converting at what the listing calls 'the better of a $13M-$15M cap or 20% discount'. The listing does not explain the cap range. These are preliminary terms; the binding ones arrive with a Form C. Investors pay no portal fee; the portal may be paid by issuers in cash or in the issuers' own securities, and pays $3,141 to anyone who refers a company that files a Form C through it, launches its offering and stays live and in good standing for 90 days. - **0 offerings** EDGAR full-text search finds no Form C, amendment, progress update or annual report naming BioTech Funding Portal, BioTech Social or biotech.fund from 2020 to November 9, 2026. The portal filed its CFPORTAL on November 8, 2024, renamed itself in April 2025 and announced its public launch on June 22, 2026; no offering has been filed through it. - **2 proposed raises** The offerings page shows Glafabra Therapeutics (proposed $1 million SAFE, $12 million cap, 20% discount, $1,000 minimum) and Energesis Pharmaceuticals (proposed $1 million CrowdSAFE, 'better of a $13M-$15M cap or 20% discount', $500 minimum), both 'Testing the Waters (EOIs)', and PawNoma Bio, labelled a fictional demo for educational purposes. The terms are preliminary. During testing the waters 'you cannot invest and no funds are collected'; expressions of interest are non-binding. - **No investor fee** 'BFP does not charge fees to investors directly for investing', though vendor costs can be passed through (for example 3.5% for credit cards). Issuers pay portal fees 'tied to funds raised and/or securities issued'; the CFPORTAL allows payment 'in cash and/or securities of the issuer'. The actual terms will be in each Form C; no schedule is published. - **FINRA #334156** SEC-registered funding portal and FINRA member, listed in FINRA's funding portal directory (SEC file 7-474), with North Capital Private Securities Corporation named as escrow agent. Its registration answers every disciplinary question No, and AltStreet found no court case or regulatory action naming the portal, its parent or its officers. - **$275,000** The parent, BioTech Social, Inc., reported $275,000 sold of a $1.5 million convertible debt offering to 2 investors on its January 2025 Form D (Rule 506(b), first sale April 16, 2024). No later raise by the parent appears on EDGAR. Data note: Filing facts are from EDGAR as filed. Listing content is the companies' own, as hosted by the portal. 'No offering' means no Form C naming the portal was found by EDGAR full-text search through November 9, 2026. ## Key figures | Figure | What it is | Context | | --- | --- | --- | | 0 | Offerings filed through the portal | No Form C names it, November 2024 to November 9, 2026. | | 2 | Companies Testing the Waters | Glafabra and Energesis; interest only, no money accepted. | | $0 | Portal fee to investors | Pass-through costs only, such as 3.5% for card payments. | | #334156 | FINRA funding portal number | SEC-registered since November 8, 2024; escrow with North Capital. | ## Verdict BioTech Funding Portal is a properly registered Reg CF portal with a sensible niche, detailed listings and investor-friendly terms on paper (no investor fee, third-party escrow, clear FAQs). It has no track record yet: since its June 2026 launch it has not hosted a filed offering, and its two real listings, each proposing a $1 million SAFE raise (Glafabra at a $12 million cap and 20% discount; Energesis at 'the better of a $13M-$15M cap or 20% discount'), are still collecting non-binding interest. For now it is a place to follow biotech programs, not to invest; when the first Form C is filed, read it on EDGAR, including what the portal is paid and whether it takes the issuer's stock. **Best for** - Biotech-interested retail investors willing to wait for the first offerings - Patients and advocates following specific programs **Look elsewhere if** - You want to invest now - You need liquidity or income - You cannot afford to lose the whole amount **Strengths** - SEC-registered funding portal and FINRA member, with third-party escrow - No portal fee for investors - Listings carry development-stage trackers with sources (trial numbers, publications, FDA designations) - Clear terms and FAQs, including testing-the-waters rules **Limitations** - No offering filed or closed since the June 2026 launch - No issuer fee schedule; the portal may be paid in issuers' securities - A fictional demo issuer appears beside the real listings - Listing copy that conflicts with its own tracker (Glafabra); an unexplained cap range (Energesis) - Small parent: $275,000 of convertible debt reported ## Who it fits | Investor | Fit | Why | | --- | --- | --- | | Retail investors who want small, long-term stakes in specific biotech programs and can afford to lose them | neutral | | | Investors who need liquidity or income | poor-fit | | | Patients and advocates following a specific disease program | neutral | | ## Questions **What is BioTech Funding Portal?** A Regulation Crowdfunding portal at biotech.fund for US life-science companies, run by BioTech Funding Portal LLC of Chicago, a subsidiary of BioTech Social, Inc. It is registered with the SEC and is a FINRA member (#334156). **Can I invest on biotech.fund now?** Not yet. As of November 9, 2026 its two real listings, Glafabra Therapeutics and Energesis Pharmaceuticals, are Testing the Waters, where you can only submit a non-binding expression of interest and no money is accepted. Both show proposed terms (a $1 million SAFE raise each), which are preliminary until a Form C is filed. No company has filed a Form C through the portal. **Is biotech.fund legit?** It is a registered funding portal with third-party escrow and no disciplinary history on its registration, and AltStreet found no case or regulatory action naming it. It has no track record: no offering has been filed through it since its June 2026 launch. **Do I need to be accredited?** No. Reg CF offerings are open to anyone 18 or older; non-accredited investors are subject to annual limits based on income and net worth across all crowdfunding portals. **What fees do investors pay?** The portal says it charges investors nothing directly, though vendor costs such as a 3.5% credit card fee may be passed through. Issuers pay the portal in cash and/or their own securities, as stated in each Form C. **What is Glafabra?** Glafabra Therapeutics is developing GT-GLA-S03, a one-time cell therapy for Fabry disease that uses a patient's own modified stem cells; it received FDA Orphan Drug Designation in March 2026. Its founders ran a five-patient pilot study in Canada, proof of concept for the platform; the company's US program is preclinical, with an IND targeted for mid-2027 and a trial start in early 2028 per its website. On the portal it proposes a $1 million SAFE raise at a $12 million cap and 20% discount. **What is Energesis?** Energesis Pharmaceuticals, of Cambridge, Massachusetts, is developing oral obesity drugs that increase brown fat and energy expenditure; its lead, EGS-2632, combines two previously approved drugs and is listed as preclinical. On the portal it proposes a $1 million CrowdSAFE raise at 'the better of a $13M-$15M cap or 20% discount'. **How does the $3,141 referral reward work?** The portal pays $3,141 to a person who refers a company, but only after the company signs a posting agreement, files a Form C through the portal, launches its offering and stays live and in good standing for 90 days. A listing alone does not trigger payment. **Can I sell a crowdfunding investment from the portal?** Reg CF securities cannot be freely resold for one year, and the portal does not run a secondary market; after that, sales are private and buyers are scarce. ## Evidence appendix Platform website captured November 9, 2026. Firecrawl captures of biotech.fund pages and its pop-up dialogs (opened one by one); CFPORTAL and amendments and the parent's Form D read from XML; EDGAR full-text and company searches; CourtListener RECAP; outside records on Glafabra (company releases and coverage of its orphan designation, ClinicalTrials.gov number and publication cited on the listing) and Energesis (Akston Biosciences SEC filings, NIH grant records, earlier coverage). No account was opened. **Highlights** - Investor FAQ: 'During a Test the Waters (TTW) phase, you can express interest in a company (EOI), but you cannot invest and no funds are collected.' - CFPORTAL/A: 'The Funding Portal may charge issuers commissions and other fees payable in cash and/or securities of the issuer based upon the securities offered.' - Investor FAQ: 'BFP does not charge fees to investors directly for investing.' - Glafabra listing: 'Proposed Raise: $1M (SAFE: 20% discount + $12M Cap)'; Energesis listing: 'Proposed Raise: $1M (CrowdSAFE: Better of $13M-$15M cap or 20% discount)' - Referral page: 'After 90 days live and in good standing, BFP pays your $3,141 reward' - PawNoma Bio listing: 'Demo profile only. PawNoma Bio is fictional and is shown for educational purposes only.' - Terms 3.4: 'BFP does not operate or facilitate a secondary market for these securities.' **Primary source pages** - biotech.fund offerings, Glafabra, Energesis, PawNoma Bio, team, raise-capital and referral pages (captured November 9, 2026) - biotech.fund Terms of Use and User Agreement (modified June 20, 2026), Investor FAQs, Issuer FAQs, Privacy Policy, Electronic Consent - EDGAR: BioTech Funding Portal LLC (CIK 2043584) CFPORTAL 0002043584-24-000001 and CFPORTAL/A 0002043584-25-000002, 0002043584-25-000004 - EDGAR: Biotech Social Inc. (CIK 2052326) Form D 0002052326-25-000001 and D/A 0002052326-25-000002 - Akston Biosciences Corp S-1/A (May 4, 2026) and exhibit 10.19, option agreement with Energesis Pharmaceuticals (August 1, 2024) - Glafabra Therapeutics, 'Receives FDA Orphan Drug Designation for GT-GLA-S03' (March 12, 2026), and glafabra.com (read November 10, 2026) - ClinicalTrials.gov NCT02800070 (intervention: 'Lentivirus Alpha-gal A transduced stem cells') - BioTech Social, 'BioTech Funding Portal Launches Regulation Crowdfunding Platform Built Exclusively for Life Science Companies' (EIN Presswire, June 22, 2026) - FINRA funding portals directory: BioTech Funding Portal LLC, SEC file 7-474 ## Related - Full review (HTML): https://altstreet.investments/platforms/reviews/biotech-fund - Every platform review: https://altstreet.investments/platforms/reviews - Methodology and scoring: https://altstreet.investments/platforms - Category hub: https://altstreet.investments/categories/longevity-biotech --- Source page: https://altstreet.investments/platforms/reviews/biotech-fund Machine index: https://altstreet.investments/llms.txt AltStreet reads what platforms, funds and issuers file with the SEC and what they tell investors, and publishes the difference. Figures are as filed or as captured on the date stated; nothing here is investment advice.