Companies · Biotechnology

Ajax Therapeutics, Inc.

NEW YORK · Biotechnology

Diligence memoA one-page analyst read on Ajax Therapeutics, Inc. — recommendation, valuation, rhythm, risks.
$140.4M
Total raised · real
3
Rounds
2.5×
Latest step-up
Top 7%
Sector rank · raised
Series C
Latest stage · inferred · Fri Apr 26 2024 00:00:00 GMT+0000 (Coordinated Universal Time)

Ajax Therapeutics, Inc. looks over-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.

Over-valued
  • Modeled value is 1.83× the median modeled value of Series C Biotechnology companies in 2022–2024 (111 peers) — value vs value, same stage and era.
Quiet
  • Last raise 2.2 yr 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

Ajax Therapeutics, Inc. is one of 4293 Biotechnology companies tracked from NEW YORK. By capital raised it ranks among the largest (ahead of 94% of sector peers), and in the upper tier by modeled valuation est..

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

pharma

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
21
Investors (latest)
2019
Year incorporated
2024-04-26
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$2.0BSeries A · 2019-06-12 Raised $8.0M (real) Modeled valuation $289M (est)$8.0M$289MSeries A2019Series B · 2021-05-17 Raised $37M (real) Modeled valuation $1.0B (est)$37M$1.0BSeries B2021Series C · 2024-04-26 Raised $95M (real) Modeled valuation $908M (est)$95M$908MSeries C2024+$37M+$95MCumulative $140M

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
Series A$8.0M · 2019
Series B$37.4M · 2021
Series C$95.0M · 2024

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed — 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
$907.9M
Base estimate est.
$293.9M
Conservative case
$1.4B
Upside case
$633.3M
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.

Series A · modeled $289.2M · 2019-06-122019Series B · modeled $1.0B · 2021-05-17Series C · modeled $907.9M · 2024-04-262024
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
2.2 yr
Elapsed time used
2.2 yr actual, capped for stale marks
biotech
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
29 mo
Avg between rounds
$28.8M/yr
Capital velocity
7.1 yr
On record since
2019
First round
3
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) 19× above median
This company$140.4M
Sector median$7.2M
Latest round — vs other Series C rounds in sector (real $, this stage) 2.0× above median
This company$95.0M
Sector median$46.5M
Modeled value — vs sector median (estimate, all stages) 14× above median
This company$907.9M
Sector median$64.2M

Raised more than 94% of sector peers (real $). Modeled value above 89% 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 #27 of 111.

This companyCohort peer
$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)Ajax Therapeutics, Inc. (this company) Raised $140.4M · modeled $907.9M (est)Ajax Therapeutics, 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×
Ajax Therapeutics, Inc. this companySeries C$140.4M$907.9M1.83×
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.
Series A$8.0M2019-06-12$36.4M$289.2M90%
Series B$37.4M2021-05-17$207.7M$1.0B90%
Series C$95.0M2024-04-26$633.3M$907.9M90%
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. Series A$8.0M2019-06-12
    • First recorded raise — entered as Series A.
    • 6 investors on this round.
  2. Series B$37.4M2021-05-17
    • Raised again after 23 mo — slower than the ~14 mo sector norm.
    • Round 4.7× larger than the prior — scaling up.
    • 14 investors on this round.
  3. Series C$95.0M2024-04-26
    • Raised again after 35 mo — slower than the ~14 mo sector norm.
    • Round 2.5× larger than the prior — scaling up.
    • 21 investors on this round.
Intelligence
2026 ~Q4
Modeled next raise · ~29mo cadence
$241.4M
Modeled next size est.range $156.9M$386.3M
2.5×
Last step-up
$28.8M/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
David Schnell6 other2019-06
Ramy Farid4 other2019-06
Martin Vogelbaum2 other2019-06
Scott Platshon1 other2021-05
Ross Levine2019-06
Registry & provenance

Ajax Therapeutics, 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
1780490
SEC CIK
2019
Incorporated
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
Kumquat Biosciences IncBiotechnologySeries C$135.9M$816.6Mnetwork1 shared operator · same sector · same stage
Morphic Holding, Inc.BiotechnologySeries C$200.6M$1.5Bnetwork1 shared operator · same sector · same stage
Gloucester Pharmaceuticals IncBiotechnologySeries B$26.0M$806.7Mnetwork2 shared operators · same sector
Schrodinger, Inc.BiotechnologySeries D+$159.8M$4.4Bnetwork1 shared operator · same sector
ShouTi Inc.BiotechnologySeries D+$165.0M$178.3Mnetwork1 shared operator · same sector
Inspirna, Inc.BiotechnologySeries C$141.9M$1.1Bsame sector · same stage
Cellular Dynamics International, Inc.BiotechnologySeries C$142.9M$819.2Msame sector · same stage
A2 Biotherapeutics, Inc.BiotechnologySeries C$143.1M$1.2Bsame sector · same stage
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
Viking Therapeutics, Inc.BiotechnologySeed$162.3M87%
Odyssey Therapeutics, Inc.BiotechnologySeries D+$1.7B86%
Athena Therapeutics, LLCBiotechnologySeed$43.5M86%
Vita Therapeutics, Inc.BiotechnologySeries B$461.5M85%
Voyager Therapeutics, Inc.BiotechnologySeries C$215.3M85%
Kano Therapeutics Inc.BiotechnologySeries A$28.6M85%
Aer Therapeutics, Inc.BiotechnologySeries B$28.0M84%
KOP Therapeutics Corp.BiotechnologyPre-Seed$6.3M84%
Frequently asked
How much funding has Ajax Therapeutics, Inc. raised?
Ajax Therapeutics, Inc. has raised approximately $140.4M in disclosed capital across 3 recorded financing rounds, aggregated from public filings.
What is Ajax Therapeutics, Inc.'s estimated valuation?
Provath's modeled valuation for Ajax Therapeutics, Inc. is approximately $907.9M (modeled range $293.9M–$1.4B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Ajax Therapeutics, Inc. at?
Ajax Therapeutics, Inc.'s latest modeled financing stage is Series C. Its most recent recorded round closed around Fri Apr 26.
What does Ajax Therapeutics, Inc. do and where is it based?
Ajax Therapeutics, Inc. operates in the Biotechnology sector, based in NEW YORK.
Explore related

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