Companies · Pharmaceuticals

Cero Therapeutics Holdings, Inc.

SOUTH SAN FRANCISCO · Pharmaceuticals

Diligence memoA one-page analyst read on Cero Therapeutics Holdings, Inc. — recommendation, valuation, rhythm, risks.
$16.4M
Total raised · real
3
Rounds
4.0×
Latest step-up
Top 38%
Sector rank · raised
Series A
Latest stage · inferred · Tue Apr 22 2025 00:00:00 GMT+0000 (Coordinated Universal Time)

Cero Therapeutics Holdings, Inc. looks fair against its niche peers and is active on financing cadence.

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

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

Fair
  • Modeled value is 1.11× the median modeled value of Series A Pharmaceuticals companies in 2025–2027 (37 peers) — value vs value, same stage and era.
  • Within the normal band (111% of peer median) for its niche.
Active
  • Last raise 14 mo ago; this sector typically re-raises about every 13 months.
  • Raising on or ahead of the sector's normal rhythm.

Procedural diagnosis est. — rule-based common-sense checks over the filing pattern, issuer name, activity cadence, and surfaced operating evidence.

Issuer-vehicle patternmedium confidence

Cero Therapeutics Holdings, Inc. behaves more like a recurring private-offering issuer than a conventional venture-backed operating company.

Issuer structure
Company-like
No recurring-offering pattern strong enough to override normal financing interpretation.
Lifecycle
2.4 yr record
Peak capital year was 2024 with $11.4M across 2 filings.
Market position
ahead of 63% of Pharmaceuticals peers
Capital scale is ahead of 63% of Pharmaceuticals peers; modeled value is above 26% of peers by modeled value. Large capital with mid-pack modeled value can signal an issuer/program profile rather than operating-company growth.
Valuation reliability
Normal applicability
Stage/dilution valuation models are weakest when the issuer is broad-sector, recurring, or vehicle-like.
Operating evidence
Sparse
No clear CEO/founder/principal role is surfaced, so operating-company confidence is lower.
Data quality
Consistent
Canonical totals and visible filing detail are broadly aligned.
What triggered this
  • Legal name looks like an issuer vehicle rather than a product company.
  • No clearly named CEO/founder/principal role in the public records surfaced here.
  • No verified homepage on the profile yet.
  • Capital program peaked in 2024: $11.4M across 2 filings.
  • Largest single filing was $10.2M on 2024-02-14.
How to read the page
  • Read this less like a startup funding journey and more like a capital-raising program.
  • Stage-based valuation and peer labels have lower applicability for this pattern.
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 Pharmaceuticals

Cero Therapeutics Holdings, Inc. is one of 1613 Pharmaceuticals companies tracked from SOUTH SAN FRANCISCO. By capital raised it ranks mid-pack (ahead of 63% 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.

pharma

As reported in public records reported — not modeled.

US
Jurisdiction
No revenue
Issuer revenue
Rule 506(b)
Reg D exemption
5
Investors (latest)
2021
Year incorporated
2025-04-22
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$25M$50M$75M$100MSeries A · 2024-02-14 Raised $10M (real) Modeled valuation $62M (est)$10M$62MSeries A2024Series A · 2024-09-26 Raised $1.3M (real) Modeled valuation $5.8M (est)$1.3M$5.8MSeries A2024Series A · 2025-04-22 Raised $5.0M (real) Modeled valuation $18M (est)$5.0M$18MSeries A2025+$1.3M+$5.0MCumulative $16M

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$10.2M · 2024
Series A extension$1.3M · 2024
Series A extension$5.0M · 2025

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: 33%.

Modeled valuation trajectory
$17.9M
Base estimate est.
$5.7M
Conservative case
$32.2M
Upside case
$22.7M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Aa $4.0M–$15M round). Valuation is modeled from stage benchmarks scaled by the pharma sector profile. Directional, not a quoted figure.

Series A · modeled $62.2M · 2024-02-142024Series A · modeled $5.8M · 2024-09-26Series A · modeled $17.9M · 2025-04-222025
Model inputs · modeled:benchmark-stage-stepup-v1
22%
Dilution assumption
Implied ownership sold in the financing.
46%
Survival probability
25% low · 63% high
1.57×/yr
Annual markup
1.97×/yr upside case
1.2 yr
Elapsed time used
1.2 yr actual, capped for stale marks
pharma
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
7 mo
Avg between rounds
$13.9M/yr
Capital velocity
2.4 yr
On record since
2024
First round
3
Rounds on file
How it compares to the market

Benchmarked against 1613 companies in Pharmaceuticals. 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) 2.0× above median
This company$16.4M
Sector median$8.1M
Latest round — vs other Series A rounds in sector (real $, this stage) 1.0× of median
This company$5.0M
Sector median$5.2M
Modeled value — vs sector median (estimate, all stages) 0.2× of median
This company$17.9M
Sector median$76.1M

Raised more than 63% of sector peers (real $). Modeled value above 26% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series A) 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 #17 of 37.

This companyCohort peer
$10.0M$100.0M$1.0M$10.0M$100.0MCapital raised (log)Incannex Healthcare Inc. · Series A Raised $12.5M · modeled $47.3M (est)Retension Pharmaceuticals, Inc. · Series A Raised $22.4M · modeled $44.1M (est)Eikonoklastes Therapeutics, Inc. · Series A Raised $25.0M · modeled $43.9M (est)Phoenicis Therapeutics, Inc. · Series A Raised $23.8M · modeled $38.6M (est)Pharmaceutical Resource Technology, Inc. · Series A Raised $10.0M · modeled $37.5M (est)Cristcot LLC · Series A Raised $31.6M · modeled $37.4M (est)Akava Therapeutics Inc. · Series A Raised $30.1M · modeled $37.1M (est)Zetagen Therapeutics, Inc. · Series A Raised $26.1M · modeled $36.6M (est)Biofrontera Inc. · Series A Raised $58.4M · modeled $36.4M (est)D&D Pharmatech Inc. · Series A Raised $10.8M · modeled $36.0M (est)Incyclix Bio, LLC · Series A Raised $26.2M · modeled $35.4M (est)Pharmazz, Inc. · Series A Raised $31.7M · modeled $34.5M (est)Cero Therapeutics Holdings, Inc. (this company) Raised $16.4M · modeled $17.9M (est)Cero Therapeutics Holdings, Inc.
CompanyStageRaised · realValue · estvs peer med.
Incannex Healthcare Inc.Series A$12.5M$47.3M2.93×
Retension Pharmaceuticals, Inc.Series A$22.4M$44.1M2.73×
Eikonoklastes Therapeutics, Inc.Series A$25.0M$43.9M2.72×
Phoenicis Therapeutics, Inc.Series A$23.8M$38.6M2.39×
Pharmaceutical Resource Technology, Inc.Series A$10.0M$37.5M2.32×
Cristcot LLCSeries A$31.6M$37.4M2.32×
Akava Therapeutics Inc.Series A$30.1M$37.1M2.30×
Zetagen Therapeutics, Inc.Series A$26.1M$36.6M2.27×
Biofrontera Inc.Series A$58.4M$36.4M2.25×
D&D Pharmatech Inc.Series A$10.8M$36.0M2.23×
Incyclix Bio, LLCSeries A$26.2M$35.4M2.20×
Pharmazz, Inc.Series A$31.7M$34.5M2.14×
Cero Therapeutics Holdings, Inc. this companySeries A$16.4M$17.9M1.11×
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$10.2M2024-02-14$46.3M$62.2M90%
Series A$1.3M2024-09-26$5.7M$5.8M90%
Series A$5.0M2025-04-22$22.7M$17.9M90%
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$10.2M2024-02-14
    • First recorded raise — entered as Series A.
    • 46 investors on this round.
  2. Series A$1.3M2024-09-26
    • Came back fast: 7 mo vs the ~13 mo sector norm.
    • Round 8.2× smaller than the prior — bridge or down round.
    • 13 investors on this round.
  3. Series A$5.0M2025-04-22
    • Came back fast: 7 mo vs the ~13 mo sector norm.
    • Round 4.0× larger than the prior — scaling up.
    • 5 investors on this round.
Intelligence
2025 ~Q4
Modeled next raise · ~7mo cadence
$15.0M
Modeled next size est.range $9.8M$24.0M
4.0×
Last step-up
$13.9M/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
Brian G. Atwood7 other2025-04
Brian Atwood5 other2024-02
Chris Ehrlich5 other2025-04
Michael Byrnes1 other2024-02
Andrew Albert Kucharchuk2024-09
Chris Albert Ehrlich2024-09
Kathleen Albert LaPorte2024-09
Kathleen G. LaPorte2025-04
Kristen Albert Pierce2024-09
Lindsey Albert Rolfe2024-09
Lindsey G. Rolfe2025-04
Lindsey Rolfe2024-02
Michael Albert Byrnes2024-09
Michael G. Byrnes2025-04
Robyn Rapaport2024-02
Shami G. Patel2025-04
Registry & provenance

Cero Therapeutics Holdings, 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
1870404
SEC CIK
2021
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.

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Emergo Therapeutics, Inc.PharmaceuticalsSeries A$16.0M$6.9Msame sector · same stage
Pleopharma, Inc.PharmaceuticalsSeries A$17.4M$20.4Msame sector · same stage
BioMarck Pharmaceuticals LtdPharmaceuticalsSeries A$15.5M$23.3Msame sector · same stage
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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
CERo Therapeutics, Inc.PharmaSeries C$1.5B96%
Celeris Therapeutics, Inc.PharmaceuticalsSeed$48.7M87%
Censa Pharmaceuticals Inc.PharmaceuticalsSeed$57.1M86%
CerSci Therapeutics Inc.PharmaceuticalsSeries A$371.7M85%
Cedilla Therapeutics, Inc.BiotechnologySeries C$3.1B83%
Clarus Therapeutics Holdings, Inc.PharmaceuticalsSeries B$289.4M83%
Cesca Therapeutics Inc.BiotechnologySeries A$29.3M82%
Secura Bio Holdings, Inc.PharmaceuticalsSeries D+$3.7B81%
Frequently asked
How much funding has Cero Therapeutics Holdings, Inc. raised?
Cero Therapeutics Holdings, Inc. has raised approximately $16.4M in disclosed capital across 3 recorded financing rounds, aggregated from public filings.
What is Cero Therapeutics Holdings, Inc.'s estimated valuation?
Provath's modeled valuation for Cero Therapeutics Holdings, Inc. is approximately $17.9M (modeled range $5.7M–$32.2M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Cero Therapeutics Holdings, Inc. at?
Cero Therapeutics Holdings, Inc.'s latest modeled financing stage is Series A. Its most recent recorded round closed around Tue Apr 22.
What does Cero Therapeutics Holdings, Inc. do and where is it based?
Cero Therapeutics Holdings, Inc. operates in the Pharmaceuticals sector, based in SOUTH SAN FRANCISCO.
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