Surprisingly, bio is pretty similar to software capital-wise, at least initially and the standard YC deal works well. Jared and Jorge wrote good pieces around this recently -

https://blog.ycombinator.com/how-biotech-startup-funding-wil...

https://techcrunch.com/2019/08/09/biotech-researchers-ventur...

Case in point - Asher Bio from the most recent YC batch went from zero to a working molecule & in-vivo data in ~3 months on the standard deal - https://techcrunch.com/2019/08/20/here-are-the-82-startups-t...