Funding round
Abcuro Series B
Abcuro, which works in biopharmaceutical research and development in Newton, raised $155M in a Series B round announced on 17 Aug 2023, led by Redmile Group and Bain Capital Life Sciences. 12 firms took part. It is Abcuro's second venture round on record; the one before was a Series A in Jan 2021.
$155M
Amount raised
Not disclosed
Post-money valuation
12
Investors
2 leads
Valuation
What this round says about the price
Abcuro did not disclose a valuation in this round. It came 31 months after Abcuro's Series A. It is 33% of the $463M Abcuro has raised in the venture rounds on record. Abcuro raised again 18 months later: a Series C round of $200M in Feb 2025.
Abcuro's funding rounds
Abcuro has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Redmile Group and Bain Capital Life Sciences led the round with 10 other firms.
Lead investors
- Redmile Group new investor
- Bain Capital Life Sciences new investor
Also in the round
- backs 109 venture-backed companies new investor
- Samsara BioCapital new investor
- Sanofi Ventures new investor
- backs 19 venture-backed companies new investor
- backs 19 venture-backed companies new investor
- Tekla Capital Management, LLC new investor
- BlackRock new investor
- Mass General Brigham Ventures new investor
- Eurofarma new investor
- Soleus Capital new investor
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
75 Series B rounds in Pharmaceutical Products within a year either side disclosed an amount; the median was $35M, and this round was 4.4 times the median. The closest in time, other companies' Series B rounds in Pharmaceutical Products:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Pharmaceutical Products | 29 Aug 2023 | $29M | not disclosed | DCVC and Cleveland Avenue |
| Pharmaceutical Products | 11 Aug 2023 | $9.8M | not disclosed | not named |
| Pharmaceutical Products | 7 Sep 2023 | $175M | not disclosed | Deep Track Capital and Forbion |
| Pharmaceutical Products | 8 Sep 2023 | $60M | not disclosed | CICC |
| Pharmaceutical Products | 26 Sep 2023 | $48M | not disclosed | Canaan and Alpha Wave Global |
| Pharmaceutical Products | 19 Jul 2023 | $32M | not disclosed | Bioluminescence Ventures |
| Pharmaceutical Products | 20 Sep 2023 | $23M | not disclosed | New Rhein Healthcare Investors |
| Pharmaceutical Products | 5 Jun 2023 | $150M | not disclosed | Bain Capital Life Sciences |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Abcuro raise in its Series B round?
Abcuro raised $155M in its Series B round, announced in Aug 2023.
Who led Abcuro's Series B round?
Redmile Group and Bain Capital Life Sciences led it, with RA Capital, Samsara BioCapital, Sanofi Ventures, New Leaf Venture Partners and Pontifax Venture Capital and 5 more.
What was Abcuro's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Pharmaceutical Products?
75 Series B rounds in Pharmaceutical Products within a year either side disclosed an amount; the median was $35M, and this round was 4.4 times the median.
Did Abcuro raise again after this round?
Yes: a Series C round in Feb 2025 of $200M.