Funding round
Tessera Therapeutics Series C
Tessera Therapeutics, which works in genome engineering technology development in Somerville, raised $300M in a Series C round announced on 19 Apr 2022, led by SoftBank Vision Fund. 12 firms took part. It is Tessera Therapeutics' second venture round on record; the one before was a Series B in Jan 2021.
$300M
Amount raised
Not disclosed
Post-money valuation
12
Investors
1 lead
Valuation
What this round says about the price
Tessera Therapeutics did not disclose a valuation in this round. It came 15 months after Tessera Therapeutics' Series B. It is 57% of the $530M Tessera Therapeutics has raised in the venture rounds on record. No later venture round is on record for Tessera Therapeutics.
Tessera Therapeutics' funding rounds
Tessera Therapeutics has 2 venture rounds on record and 1 other deal. This one is highlighted.
- Series B 12 Jan 2021, led by SoftBank Vision Fund, Alaska Permanent Fund Corporation and Altitude Life Science Ventures $230M
- Series C this round 19 Apr 2022, led by SoftBank Vision Fund $300M
- Grant not a venture round 8 Oct 2025, led by Advanced Research Projects Agency for Health $41M
Investors
Who put money in
SoftBank Vision Fund led the round with 11 other firms.
Lead investor
- SoftBank Vision Fund backs 234 venture-backed companies new investor
Also in the round
- Abu Dhabi Investment Authority backs 19 venture-backed companies new investor
- backs 4 venture-backed companies new investor
- Altitude Life Science Ventures new investor
- backs 33 venture-backed companies new investor
- Cormorant Asset Management new investor
- Flagship Pioneering new investor
- backs 3 venture-backed companies new investor
- Longevity Vision Fund new investor
- March Capital new investor
- SALT Fund new investor
- T. Rowe Price Associates, Inc. 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
46 Series C rounds in Biotechnology within a year either side disclosed an amount; the median was $86M, and this round was 3.5 times the median. The closest in time, other companies' Series C rounds in Biotechnology:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Biotechnology | 12 Apr 2022 | $120M | not disclosed | Deerfield |
| Biotechnology | 21 Apr 2022 | $7.0M | not disclosed | Codexis, Inc. |
| Kriya Therapeutics Biotechnology | 16 May 2022 | $270M | not disclosed | Patient Square Capital |
| LifeMine Biotechnology | 23 Mar 2022 | $175M | not disclosed | Fidelity Management & Research Company |
| Biotechnology | 30 Mar 2022 | $100M | not disclosed | SoftBank Vision Fund |
| Biotechnology | 31 May 2022 | $55M | not disclosed | Columbus Venture Partners and Caixa Capital Risc |
| Biotechnology | 1 Mar 2022 | $20M | not disclosed | not named |
| Biotechnology | 3 Feb 2022 | $150M | not disclosed | SoftBank Vision Fund |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Tessera Therapeutics raise in its Series C round?
Tessera Therapeutics raised $300M in its Series C round, announced in Apr 2022.
Who led Tessera Therapeutics' Series C round?
SoftBank Vision Fund led it, with Abu Dhabi Investment Authority, Alaska Permanent Fund Corporation, Altitude Life Science Ventures, Artis Ventures and Cormorant Asset Management and 6 more.
What was Tessera Therapeutics' valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Biotechnology?
46 Series C rounds in Biotechnology within a year either side disclosed an amount; the median was $86M, and this round was 3.5 times the median.