Companies · Biotechnology

22nd Century Group, Inc.

Mocksville · Biotechnology

Diligence memoA one-page analyst read on 22nd Century Group, Inc. — recommendation, valuation, rhythm, risks.
$116.0M
Total raised · real
9
Rounds
0.3×
Latest step-up
Top 9%
Sector rank · raised
Series C
Latest stage · inferred · Fri Sep 27 2024 00:00:00 GMT+0000 (Coordinated Universal Time)

22nd Century Group, Inc. looks under-valued against its niche peers and is quiet on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the biotech sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Under-valued
  • Modeled value is 0.02× the median modeled value of Series C Biotechnology companies in 2022–2024 (111 peers) — value vs value, same stage and era.
  • Issuer reports $5M–$25M revenue while modeled below niche peers.
Quiet
  • Last raise 21 mo ago; this sector typically re-raises about every 14 months.
  • Slightly overdue versus sector cadence.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Biotechnology

22nd Century Group, Inc. is one of 4293 Biotechnology companies tracked from Mocksville. By capital raised it ranks among the largest (ahead of 92% of sector peers), and in the long tail by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

As reported in public records reported — not modeled.

US
Jurisdiction
$5M–$25M
Issuer revenue
Rule 506(b)
Reg D exemption
7
Investors (latest)
2024-09-27
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$500M$1.0B$1.5B$2.0BSeed · 2011-12-14 Raised $1.9M (real) Modeled valuation $86M (est)Seed2011Seed · 2012-05-15 Raised $2.7M (real) Modeled valuation $121M (est)Seed2012Seed · 2012-08-09 Raised $530K (real) Modeled valuation $24M (est)Seed2012Seed · 2012-11-09 Raised $2.4M (real) Modeled valuation $108M (est)Seed2012Series A · 2014-09-17 Raised $10M (real) Modeled valuation $362M (est)Series A2014Series C · 2022-05-13 Raised $58M (real) Modeled valuation $1.2B (est)Series C2022Series C · 2022-05-13 Raised $58M (real) Modeled valuation $1.2B (est)Series C2022Series C · 2022-07-21 Raised $35M (real) Modeled valuation $656M (est)Series C2022Series C · 2024-04-08 Raised $4.2M (real) Modeled valuation $41M (est)Series C2024Series C · 2024-09-27 Raised $1.2M (real) Modeled valuation $9.8M (est)Series C2024+$2.7M+$530K+$2.4M+$10M+$58M+$58M+$35M+$4.2M+$1.2MCumulative $174M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Seed$1.9M · 2011
Seed extension$2.7M · 2012
Seed extension$530K · 2012
Seed extension$2.4M · 2012
Series A$10.0M · 2014
Series C$58.0M · 2022no Series B on file
Series C extension$58.0M · 2022
Series C extension$35.0M · 2022
Series C extension$4.2M · 2024
Series C extension$1.2M · 2024

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Series B — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 60%.

Modeled valuation trajectory
$9.8M
Base estimate est.
$3.7M
Conservative case
$14.4M
Upside case
$8.0M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Ca $40M–$100M round). Valuation is modeled from stage benchmarks scaled by the biotech sector profile. Directional, not a quoted figure.

Seed · modeled $85.5M · 2011-12-142011Seed · modeled $121.4M · 2012-05-15Seed · modeled $23.5M · 2012-08-09Seed · modeled $107.8M · 2012-11-09Series A · modeled $361.5M · 2014-09-17Series C · modeled $1.2B · 2022-05-13Series C · modeled $1.2B · 2022-05-13Series C · modeled $655.7M · 2022-07-21Series C · modeled $40.9M · 2024-04-08Series C · modeled $9.8M · 2024-09-272024
Model inputs · modeled:benchmark-stage-stepup-v1
15%
Dilution assumption
Implied ownership sold in the financing.
62%
Survival probability
46% low · 72% high
1.46×/yr
Annual markup
1.68×/yr upside case
1.8 yr
Elapsed time used
1.8 yr actual, capped for stale marks
biotech
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
17 mo
Avg between rounds
$9.1M/yr
Capital velocity
14.6 yr
On record since
2011
First round
10
Rounds on file
How it compares to the market

Benchmarked against 4293 companies in Biotechnology. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 16× above median
This company$116.0M
Sector median$7.2M
Latest round — vs other Series C rounds in sector (real $, this stage) 0.0× of median
This company$1.2M
Sector median$46.5M
Modeled value — vs sector median (estimate, all stages) 0.2× of median
This company$9.8M
Sector median$64.2M

Raised more than 92% of sector peers (real $). Modeled value above 18% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series C) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #110 of 111.

This companyCohort peer
$1.0M$10.0M$100.0M$1.0B$10.0B$10.0M$100.0M$1.0BCapital raised (log)Dianthus Therapeutics, Inc. · Series C Raised $121.5M · modeled $2.1B (est)Satellite Biosciences, Inc. · Series C Raised $101.5M · modeled $1.8B (est)Deepcell, Inc. · Series C Raised $96.9M · modeled $1.7B (est)Ventus Therapeutics U.S., Inc. · Series C Raised $186.8M · modeled $1.6B (est)Morphic Holding, Inc. · Series C Raised $200.6M · modeled $1.5B (est)Genleap Ai Inc. · Series C Raised $100.0M · modeled $1.5B (est)Dren Bio, Inc. · Series C Raised $93.1M · modeled $1.3B (est)Lenz Therapeutics, Inc. · Series C Raised $136.2M · modeled $1.2B (est)eyeBrain Medical, Inc. · Series C Raised $126.3M · modeled $1.2B (est)A2 Biotherapeutics, Inc. · Series C Raised $143.1M · modeled $1.2B (est)Invetx, Inc. · Series C Raised $70.7M · modeled $1.2B (est)Hexagon Bio Inc. · Series C Raised $148.6M · modeled $1.2B (est)22nd Century Group, Inc. (this company) Raised $116.0M · modeled $9.8M (est)22nd Century Group, Inc.
CompanyStageRaised · realValue · estvs peer med.
Dianthus Therapeutics, Inc.Series C$121.5M$2.1B4.22×
Satellite Biosciences, Inc.Series C$101.5M$1.8B3.63×
Deepcell, Inc.Series C$96.9M$1.7B3.38×
Ventus Therapeutics U.S., Inc.Series C$186.8M$1.6B3.14×
Morphic Holding, Inc.Series C$200.6M$1.5B3.04×
Genleap Ai Inc.Series C$100.0M$1.5B3.00×
Dren Bio, Inc.Series C$93.1M$1.3B2.70×
Lenz Therapeutics, Inc.Series C$136.2M$1.2B2.49×
eyeBrain Medical, Inc.Series C$126.3M$1.2B2.45×
A2 Biotherapeutics, Inc.Series C$143.1M$1.2B2.42×
Invetx, Inc.Series C$70.7M$1.2B2.36×
Hexagon Bio Inc.Series C$148.6M$1.2B2.36×
22nd Century Group, Inc. this companySeries C$116.0M$9.8M0.02×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Seed$1.9M2011-12-14$9.6M$85.5M85%
Seed$2.7M2012-05-15$13.7M$121.4M85%
Seed$530K2012-08-09$2.6M$23.5M85%
Seed$2.4M2012-11-09$12.1M$107.8M85%
Series A$10.0M2014-09-17$45.5M$361.5M85%
Series C$58.0M2022-05-13$386.7M$1.2B90%
Series C$58.0M2022-05-13$386.7M$1.2B90%
Series C$35.0M2022-07-21$233.3M$655.7M90%
Series C$4.2M2024-04-08$28.0M$40.9M90%
Series C$1.2M2024-09-27$8.0M$9.8M90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Seed$1.9M2011-12-14
    • First recorded raise — entered as Seed.
    • 24 investors on this round.
  2. Seed$2.7M2012-05-15
    • Came back fast: 5 mo vs the ~14 mo sector norm.
    • Round 1.4× larger than the prior — scaling up.
    • 19 investors on this round.
  3. Seed$530K2012-08-09
    • Came back fast: 3 mo vs the ~14 mo sector norm.
    • Round 5.2× smaller than the prior — bridge or down round.
    • 4 investors on this round.
  4. Seed$2.4M2012-11-09
    • Came back fast: 3 mo vs the ~14 mo sector norm.
    • Round 4.6× larger than the prior — scaling up.
    • 20 investors on this round.
  5. Series A$10.0M2014-09-17
    • Raised again after 22 mo — slower than the ~14 mo sector norm.
    • Round 4.1× larger than the prior — scaling up.
    • Switched to Rule 506(b) (was Rule 06).
    • 1 investor on this round.
  6. Series C$58.0M2022-05-13
    • Raised again after 92 mo — slower than the ~14 mo sector norm.
    • Round 5.8× larger than the prior — scaling up.
    • 64 investors on this round.
  7. Series C$58.0M2022-05-13
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 64 investors on this round.
  8. Series C$35.0M2022-07-21
    • Came back fast: 2 mo vs the ~14 mo sector norm.
    • Round 1.7× smaller than the prior — bridge or down round.
    • 14 investors on this round.
  9. Series C$4.2M2024-04-08
    • Raised again after 21 mo — slower than the ~14 mo sector norm.
    • Round 8.3× smaller than the prior — bridge or down round.
    • 9 investors on this round.
  10. Series C$1.2M2024-09-27
    • Came back fast: 6 mo vs the ~14 mo sector norm.
    • Round 3.5× smaller than the prior — bridge or down round.
    • 7 investors on this round.
Intelligence
2026 ~Q1
Modeled next raise · ~17mo cadence
$1.2M
Modeled next size est.range $1.2M$1.9M
0.3×
Last step-up
$9.1M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
John Miller26 other2024-04
Lawrence Firestone3 other2024-04
C. Anthony Rider1 other2011-12
Andy B. Arno2024-04
Andy S. Arno2024-09
Anthony B. Johnson2022-05
Anthony S. Johnson2024-04
Clifford B. Fleet2022-05
Daniel A Otto2024-04
Daniel Otto2024-09
Henry NMN Sicignano, III2011-12
Hugh A. Kinsman2022-07
James A Mish2022-05
James W. Cornell2011-12
John A. Franzino2022-05
John T. W. Brodfuehrer2014-09
Joseph Alexander Dunn2011-12
Joseph NMN Pandolfino2011-12
Lucille S. Salhany2024-04
Michael A. Zercher2022-05
Michael B. Koganov2022-05
Michael R. Moynihan2011-12
Nora B. Sullivan2022-05
RICHARD A FITZGERALD2022-05
Registry & provenance

22nd Century Group, Inc. is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1347858
SEC CIK
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
KALA BIO, Inc.BiotechnologySeries C$158.8M$8.3Msame sector · same stage
Biological Dynamics IncBiotechnologySeries B$44.8M$476.3Mnetwork1 shared operator · same sector
Angiocrine Bioscience, Inc.BiotechnologySeries C$64.2M$12.1Msame sector · same stage
Claris Biotherapeutics, Inc.BiotechnologySeries C$60.1M$13.0Msame sector · same stage
Protox Therapeutics IncBiotechnologySeries C$59.7M$12.5Msame sector · same stage
Akonni Biosystems IncBiotechnologySeries A$29.1M$64.2Mnetwork1 shared operator · same sector
Clover Biopharmaceuticals, Ltd.BiotechnologySeries C$49.8M$8.9Msame sector · same stage
22nd Century Limited, LLCBiotechnologySeries A$5.5M$196.5Mnetwork1 shared operator · same sector
Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
Decade, Inc.BiotechnologySeries A$25.9M86%
Axim Biotechnologies, Inc.BiotechnologyPre-Seed$27.6M85%
Axitan Holdings, Inc.BiotechnologyPre-Seed$1.4M85%
20 Bio, Inc.BiotechnologySeries A$11.0M85%
Ideal Medical Technologies Inc.BiotechnologyPre-Seed$11.0M85%
Medical 21, Inc.BiotechnologySeries A$102.9M85%
Next Science LtdBiotechnologyPre-Seed$6.3M85%
NeXtGen Biologics, INCBiotechnologySeed$347K85%
Frequently asked
How much funding has 22nd Century Group, Inc. raised?
22nd Century Group, Inc. has raised approximately $116.0M in disclosed capital across 9 recorded financing rounds, aggregated from public filings.
What is 22nd Century Group, Inc.'s estimated valuation?
Provath's modeled valuation for 22nd Century Group, Inc. is approximately $9.8M (modeled range $3.7M–$14.4M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is 22nd Century Group, Inc. at?
22nd Century Group, Inc.'s latest modeled financing stage is Series C. Its most recent recorded round closed around Fri Sep 27.
What does 22nd Century Group, Inc. do and where is it based?
22nd Century Group, Inc. operates in the Biotechnology sector, based in Mocksville.
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