Companies · Biotechnology

Capstan Therapeutics, Inc.

SAN DIEGO · Biotechnology

Diligence memoA one-page analyst read on Capstan Therapeutics, Inc. — recommendation, valuation, rhythm, risks.
$227.0M
Total raised · real
3
Rounds
1.1×
Latest step-up
Top 4%
Sector rank · raised
Series C
Latest stage · inferred · Tue Mar 05 2024 00:00:00 GMT+0000 (Coordinated Universal Time)

Capstan Therapeutics, Inc. looks over-valued against its niche peers and is at-risk 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 1.78× the median modeled value of Series C Biotechnology companies in 2022–2024 (111 peers) — value vs value, same stage and era.
At-risk
  • Last raise 2.3 yr ago; this sector typically re-raises about every 14 months.
  • Past due for a raise versus sector cadence — watch for distress or a bridge.
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

Capstan Therapeutics, Inc. is one of 4293 Biotechnology companies tracked from SAN DIEGO. By capital raised it ranks among the largest (ahead of 97% 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)
2020
Year incorporated
2024-03-05
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 C · 2021-11-24 Raised $63M (real) Modeled valuation $1.5B (est)$63M$1.5BSeries C2021Series C · 2022-06-14 Raised $76M (real) Modeled valuation $1.5B (est)$76M$1.5BSeries C2022Series C · 2024-03-05 Raised $87M (real) Modeled valuation $883M (est)$87M$883MSeries C2024+$76M+$87MCumulative $227M

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 C$63.0M · 2021
Series C extension$76.5M · 2022
Series C extension$87.5M · 2024

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series A, Series B — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 20%.

Modeled valuation trajectory
$882.9M
Base estimate est.
$270.7M
Conservative case
$1.4B
Upside case
$583.3M
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 C · modeled $1.5B · 2021-11-242021Series C · modeled $1.5B · 2022-06-14Series C · modeled $882.9M · 2024-03-052024
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
2.3 yr
Elapsed time used
2.3 yr actual, capped for stale marks
biotech
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
14 mo
Avg between rounds
$99.7M/yr
Capital velocity
4.6 yr
On record since
2021
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) 32× above median
This company$227.0M
Sector median$7.2M
Latest round — vs other Series C rounds in sector (real $, this stage) 1.9× above median
This company$87.5M
Sector median$46.5M
Modeled value — vs sector median (estimate, all stages) 14× above median
This company$882.9M
Sector median$64.2M

Raised more than 97% of sector peers (real $). Modeled value above 88% 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 #30 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)Capstan Therapeutics, Inc. (this company) Raised $227.0M · modeled $882.9M (est)Capstan 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×
Capstan Therapeutics, Inc. this companySeries C$227.0M$882.9M1.78×
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 C$63.0M2021-11-24$420.0M$1.5B90%
Series C$76.5M2022-06-14$510.0M$1.5B90%
Series C$87.5M2024-03-05$583.3M$882.9M90%
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 C$63.0M2021-11-24
    • First recorded raise — entered as Series C.
    • 9 investors on this round.
  2. Series C$76.5M2022-06-14
    • Came back fast: 7 mo vs the ~14 mo sector norm.
    • Round roughly the size of the prior one.
    • 14 investors on this round.
  3. Series C$87.5M2024-03-05
    • Raised again after 21 mo — slower than the ~14 mo sector norm.
    • Round roughly the size of the prior one.
    • 21 investors on this round.
Intelligence
2025 ~Q2
Modeled next raise · ~14mo cadence
$100.1M
Modeled next size est.range $87.5M$160.1M
1.1×
Last step-up
$99.7M/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
Erez Chimovits6 other2021-11
Michal Silverberg6 other2021-11
Laura Shawver5 other2021-11
Michael Baran3 other2021-11
Nandita Shangari3 other2021-11
Rajul Jain2 other2021-11
Ramin Farzaneh-Far2 other2021-11
Athena Countouriotis1 other2021-11
Fabio Pucci1 other2021-11
Nanna Luneborg1 other2021-11
Adrian Bot2021-11
Justin Thacker2021-11
Karen Smith2021-11
Priya Karmali2021-11
Registry & provenance

Capstan 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
2015437
SEC CIK
2020
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
Mediar Therapeutics, Inc.BiotechnologySeries C$127.9M$194.8Mnetwork2 shared operators · same sector · same stage
Adicet Bio, Inc.BiotechnologySeries C$116.8M$3.3Bnetwork2 shared operators · same sector · same stage
FORE US Bio Inc.BiotechnologySeries C$99.5M$243.5Mnetwork2 shared operators · same sector · same stage
ImmPACT Bio USA Inc.BiotechnologySeries D+$143.6M$3.5Bnetwork2 shared operators · same sector
Silverback Therapeutics, Inc.BiotechnologySeries C$139.3M$3.2Bnetwork1 shared operator · same sector · same stage
TScan Therapeutics, Inc.BiotechnologySeries C$123.3M$3.3Bnetwork1 shared operator · same sector · same stage
ONL Therapeutics, Inc.BiotechnologySeries C$111.5M$496.0Mnetwork1 shared operator · same sector · same stage
Novus Therapeutics, Inc.BiotechnologySeries D+$226.8M$576.2Mnetwork1 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
Capricor Therapeutics, Inc.BiotechnologySeries B$147.2M89%
Summit Therapeutics Inc.BiotechnologySeries D+$2.4B85%
MedGene Therapeutics, Inc.BiotechnologySeed$28.8M84%
Capsulomics, Inc.BiotechnologySeed$106.2M84%
Edgewise Therapeutics, Inc.BiotechnologySeries C$3.3B84%
TScan Therapeutics, Inc.BiotechnologySeries C$3.3B83%
NiKang Therapeutics, Inc.BiotechnologySeries D+$6.2B83%
MediSix Therapeutics, Inc.BiotechnologySeries B$647.6M83%
Frequently asked
How much funding has Capstan Therapeutics, Inc. raised?
Capstan Therapeutics, Inc. has raised approximately $227.0M in disclosed capital across 3 recorded financing rounds, aggregated from public filings.
What is Capstan Therapeutics, Inc.'s estimated valuation?
Provath's modeled valuation for Capstan Therapeutics, Inc. is approximately $882.9M (modeled range $270.7M–$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 Capstan Therapeutics, Inc. at?
Capstan Therapeutics, Inc.'s latest modeled financing stage is Series C. Its most recent recorded round closed around Tue Mar 05.
What does Capstan Therapeutics, Inc. do and where is it based?
Capstan Therapeutics, Inc. operates in the Biotechnology sector, based in SAN DIEGO.
Explore related

See where Capstan Therapeutics, Inc. sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.

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