Funding round
Abcuro Series A
Abcuro, which works in biopharmaceutical research and development in Newton, raised $42M in a Series A round announced on 7 Jan 2021, led by Mass General Brigham Ventures and Sanofi Ventures. 6 firms took part. It is Abcuro's first venture round on record.
$42M
Amount raised
Not disclosed
Post-money valuation
6
Investors
2 leads
Valuation
What this round says about the price
Abcuro did not disclose a valuation in this round. It is Abcuro's first venture round on record, 6 years after it was founded in 2015. It is 9.1% of the $463M Abcuro has raised in the venture rounds on record. Abcuro raised again 31 months later: a Series B round of $155M in Aug 2023.
Abcuro's funding rounds
Abcuro has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Mass General Brigham Ventures and Sanofi Ventures led the round with 4 other firms.
Lead investors
- Mass General Brigham Ventures new investor
- Sanofi Ventures new investor
Also in the round
- backs 19 venture-backed companies new investor
- Hongsen Investment Group new investor
- backs 109 venture-backed companies new investor
- Samsara BioCapital new investor
Joined the board: John B. Edwards, David de Graaf, Ph.D., Jason Hafler, Ph.D., Iyona Rajkomar, Ryan Berry, Ph.D., Donald McCarthy, Ph.D., Julius Knowles and Yajun Xu, Ph.D..
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, scaling operations and working capital.
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
120 Series A rounds in Pharmaceutical Products within a year either side disclosed an amount; the median was $20M, and this round was 2.1 times the median. The closest in time, other companies' Series A rounds in Pharmaceutical Products:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Pharmaceutical Products | 1 Jan 2021 | $20M | not disclosed | RiverVest |
| Pharmaceutical Products | 7 Jan 2021 | $3.0M | not disclosed | Advanced MedTech Holdings |
| Pharmaceutical Products | 8 Dec 2020 | $100M | not disclosed | Lilly Asia Ventures Fund and ARCH Venture Partners |
| Pharmaceutical Products | 8 Dec 2020 | $81M | not disclosed | Foresite Capital |
| Pharmaceutical Products | 1 Dec 2020 | $59M | not disclosed | Sofinnova Partners and Polaris Partners |
| Pharmaceutical Products | 4 Dec 2020 | $42M | not disclosed | not named |
| Pharmaceutical Products | 23 Feb 2021 | $30M | not disclosed | Oceanpine Capital |
| Pharmaceutical Products | 16 Dec 2020 | $25M | not disclosed | Newpath Partners |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Abcuro raise in its Series A round?
Abcuro raised $42M in its Series A round, announced in Jan 2021.
Who led Abcuro's Series A round?
Mass General Brigham Ventures and Sanofi Ventures led it, with Pontifax Venture Capital, Hongsen Investment Group, RA Capital and Samsara BioCapital.
What was Abcuro's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Pharmaceutical Products?
120 Series A rounds in Pharmaceutical Products within a year either side disclosed an amount; the median was $20M, and this round was 2.1 times the median.
Did Abcuro raise again after this round?
Yes: a Series B round in Aug 2023 of $155M.