There will be a closed beta but no early access, Studio FOW announced.

On Kickstarter, Subverse got 1 668 626 GBP, which will have a slightly different development process. We talked about its success before, but let’s see how the plan got changed: „We’re delighted to announce the closed beta will begin for all Big Bang Theorists (backers that pledged £75 or more) on September 28th, 2019! Make sure you have your keys retrieved and activated in your Steam libraries so you can access it. As previously mentioned, this first build will include the SHMUP tutorial and the first mission of the game. However, we’re also adding an endless combat mode for testing purposes. If you’re eligible, Make sure you drop by our Discord server and sign up for the Beta Oasis room so you can give us feedback and report any bugs there. […]

We are so thrilled to announce that two full-time software engineers with AAA gaming experience have joined the Subverse team. They’re already making a huge impact on production, and we couldn’t be happier to have them here. During the past few months, we’ve also been in contact with several world-renowned game producers that have been acting as mentors for us during this process.  Their advice, along with that of our new engineers, have caused us to audit the current release strategy and pipeline. This brought us to the conclusion that Early Access would not be beneficial for Subverse. […] The other good news is that this decision will allow us to significantly speed up the production of the full release because it won’t be necessary to constantly update and maintain the numerous Early Access builds. We’re currently ahead of our internal production schedule and we see no issue with maintaining this pace,” the post says.

As they have 4500+ potential testers for the closed beta, we can see why the Mass Effect+XCOM+hentai mixture is going down this route.

Source: PCGamer