Companies · Biotechnology

Adaptive Biotechnologies Corp

SEATTLE · Biotechnology

Diligence memoA one-page analyst read on Adaptive Biotechnologies Corp — recommendation, valuation, rhythm, risks.
$614.0M
Total raised · real
9
Rounds
2.0×
Latest step-up
Top 1%
Sector rank · raised
Series D+
Latest stage · inferred · Tue May 05 2015 00:00:00 GMT+0000 (Coordinated Universal Time)

Adaptive Biotechnologies Corp looks over-valued against its niche peers and is dormant 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.

Over-valued
  • Modeled value is 1.84× the median modeled value of Series D+ Biotechnology companies in 2013–2015 (7 peers) — value vs value, same stage and era.
Dormant
  • Last raise 11.2 yr ago; this sector typically re-raises about every 14 months.
  • Silent for over 3× the sector's normal 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

Adaptive Biotechnologies Corp is one of 4291 Biotechnology companies tracked from SEATTLE. By capital raised it ranks among the largest (ahead of 100% of sector peers), and among the largest 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
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$2.5B$5.0B$7.5B$10.0BSeed · 2009-12-17 Raised $4.0M (real) Modeled valuation $176M (est)Seed2009Series A · 2011-05-20 Raised $5.8M (real) Modeled valuation $210M (est)Series A2011Series A · 2012-06-07 Raised $2.6M (real) Modeled valuation $96M (est)Series A2012Series A · 2013-07-01 Raised $5.0M (real) Modeled valuation $182M (est)Series A2013Series D+ · 2014-04-04 Raised $107M (real) Modeled valuation $4.4B (est)Series D+2014Series D+ · 2014-04-04 Raised $105M (real) Modeled valuation $4.3B (est)Series D+2014Series D+ · 2015-01-07 Raised $94M (real) Modeled valuation $3.9B (est)Series D+2015Series D+ · 2015-01-07 Raised $96M (real) Modeled valuation $3.9B (est)Series D+2015Series D+ · 2015-05-05 Raised $195M (real) Modeled valuation $8.0B (est)Series D+2015+$5.8M+$2.6M+$5.0M+$107M+$105M+$94M+$96M+$195MCumulative $614M

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$4.0M · 2009
Series A$5.8M · 2011
Series A extension$2.6M · 2012
Series A extension$5.0M · 2013
Series D+$107.0M · 2014no Series B / Series C on file
Series D+ extension$105.0M · 2014
Series D+ extension$93.8M · 2015
Series D+ extension$95.7M · 2015
Series D+ extension$195.1M · 2015

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Series B, Series C — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 50%.

Modeled valuation trajectory
$8.0B
Base estimate est.
$884.5M
Conservative case
$17.6B
Upside case
$1.6B
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series D+a $100M–$400M round). Valuation is modeled from stage benchmarks scaled by the biotech sector profile. Directional, not a quoted figure.

Seed · modeled $175.6M · 2009-12-172009Series A · modeled $210.5M · 2011-05-20Series A · modeled $95.8M · 2012-06-07Series A · modeled $181.7M · 2013-07-01Series D+ · modeled $4.4B · 2014-04-04Series D+ · modeled $4.3B · 2014-04-04Series D+ · modeled $3.9B · 2015-01-07Series D+ · modeled $3.9B · 2015-01-07Series D+ · modeled $8.0B · 2015-05-052015
Model inputs · modeled:benchmark-stage-stepup-v1
12%
Dilution assumption
Implied ownership sold in the financing.
68%
Survival probability
54% low · 75% high
1.39×/yr
Annual markup
1.56×/yr upside case
6.0 yr
Elapsed time used
11.2 yr actual, capped for stale marks
biotech
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
8 mo
Avg between rounds
$114.1M/yr
Capital velocity
16.5 yr
On record since
2009
First round
9
Rounds on file
How it compares to the market

Benchmarked against 4291 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) 85× above median
This company$614.0M
Sector median$7.2M
Latest round — vs other Series D+ rounds in sector (real $, this stage) 1.6× above median
This company$195.1M
Sector median$120.0M
Modeled value — vs sector median (estimate, all stages) 125× above median
This company$8.0B
Sector median$64.2M

Raised more than 100% of sector peers (real $). Modeled value above 100% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series D+) 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 #1 of 7.

This companyCohort peer
$10.0M$100.0M$1.0B$10.0B$100.0B$10.0M$100.0M$1.0BCapital raised (log)Aerie Pharmaceuticals Inc · Series D+ Raised $189.6M · modeled $5.2B (est)Editas Medicine, Inc. · Series D+ Raised $120.0M · modeled $4.9B (est)Ngm Biopharmaceuticals Inc · Series D+ Raised $341.3M · modeled $4.4B (est)Adaptimmune Ltd · Series D+ Raised $103.8M · modeled $4.3B (est)Sequenom Inc · Series D+ Raised $268.1M · modeled $3.5B (est)NantOmics, LLC · Series D+ Raised $260.9M · modeled $37.4M (est)Adaptive Biotechnologies Corp (this company) Raised $614.0M · modeled $8.0B (est)Adaptive Biotechnologies Corp
CompanyStageRaised · realValue · estvs peer med.
Adaptive Biotechnologies Corp this companySeries D+$614.0M$8.0B1.84×
Aerie Pharmaceuticals IncSeries D+$189.6M$5.2B1.18×
Editas Medicine, Inc.Series D+$120.0M$4.9B1.13×
Ngm Biopharmaceuticals IncSeries D+$341.3M$4.4B1.00×
Adaptimmune LtdSeries D+$103.8M$4.3B0.98×
Sequenom IncSeries D+$268.1M$3.5B0.80×
NantOmics, LLCSeries D+$260.9M$37.4M0.01×
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$4.0M2009-12-17$19.8M$175.6M90%
Series A$5.8M2011-05-20$26.5M$210.5M90%
Series A$2.6M2012-06-07$12.0M$95.8M90%
Series A$5.0M2013-07-01$22.8M$181.7M90%
Series D+$107.0M2014-04-04$891.7M$4.4B90%
Series D+$105.0M2014-04-04$875.0M$4.3B90%
Series D+$93.8M2015-01-07$781.3M$3.9B90%
Series D+$95.7M2015-01-07$797.6M$3.9B90%
Series D+$195.1M2015-05-05$1.6B$8.0B90%
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$4.0M2009-12-17
    • First recorded raise — entered as Seed.
  2. Series A$5.8M2011-05-20
    • Raised 17 mo later, in step with the ~14 mo sector norm.
    • Round 1.5× larger than the prior — scaling up.
  3. Series A$2.6M2012-06-07
    • Raised 13 mo later, in step with the ~14 mo sector norm.
    • Round 2.2× smaller than the prior — bridge or down round.
  4. Series A$5.0M2013-07-01
    • Raised 13 mo later, in step with the ~14 mo sector norm.
    • Round 1.9× larger than the prior — scaling up.
  5. Series D+$107.0M2014-04-04
    • Raised 9 mo later, in step with the ~14 mo sector norm.
    • Round 21.3× larger than the prior — scaling up.
  6. Series D+$105.0M2014-04-04
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
  7. Series D+$93.8M2015-01-07
    • Raised 9 mo later, in step with the ~14 mo sector norm.
    • Round roughly the size of the prior one.
  8. Series D+$95.7M2015-01-07
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
  9. Series D+$195.1M2015-05-05
    • Came back fast: 4 mo vs the ~14 mo sector norm.
    • Round 2.0× larger than the prior — scaling up.
Intelligence
2016 ~Q1
Modeled next raise · ~8mo cadence
$397.7M
Modeled next size est.range $258.5M$636.3M
2.0×
Last step-up
$114.1M/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
Chad Robins4 other2009-12
Lee Huntsman4 other2012-06
Arnold Levine3 other2012-06
Peter Neupert3 other2014-04
John Stuelpnagel2 other2015-01
Chad Cohen1 other2015-05
Chris Carlson1 other2009-12
Craig Weissman1 other2011-05
Harlan Robins1 other2009-12
Tom Willis1 other2015-01
Andris Zoltners2013-07
Andy Zoltners2011-05
Dean Schorno2015-01
Kathleen Determann2015-01
Rob Hershberg2013-07
Rob Rosen2014-04
Registry & provenance

Adaptive Biotechnologies Corp 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
1478320
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
Digital Biotechnologies, Inc.BiotechnologySeries A$12.3M$31.8Mnetwork2 shared operators · same sector
Gossamer Bio, Inc.BiotechnologySeries D+$632.6M$3.2Bsame sector · same stage
Odyssey Therapeutics, Inc.BiotechnologySeries D+$590.9M$1.7Bsame sector · same stage
Arsenal Biosciences, Inc.BiotechnologySeries D+$579.2M$3.5Bsame sector · same stage
Summit Therapeutics Inc.BiotechnologySeries D+$569.0M$2.4Bsame sector · same stage
Immunic, Inc.BiotechnologySeries D+$514.4M$1.3Bsame sector · same stage
Guardant Health, Inc.BiotechnologySeries D+$500.0M$13.2Bsame sector · same stage
Inspiration Biopharmaceuticals IncBiotechnologySeries D+$461.3M$10.2Bsame sector · same stage
Frequently asked
How much funding has Adaptive Biotechnologies Corp raised?
Adaptive Biotechnologies Corp has raised approximately $614.0M in disclosed capital across 9 recorded financing rounds, aggregated from public filings.
What is Adaptive Biotechnologies Corp's estimated valuation?
Provath's modeled valuation for Adaptive Biotechnologies Corp is approximately $8.0B (modeled range $884.5M–$17.6B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Adaptive Biotechnologies Corp at?
Adaptive Biotechnologies Corp's latest modeled financing stage is Series D+. Its most recent recorded round closed around Tue May 05.
What does Adaptive Biotechnologies Corp do and where is it based?
Adaptive Biotechnologies Corp operates in the Biotechnology sector, based in SEATTLE.
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