Companies · Biotechnology

Chitogen Inc

PLYMOUTH · Biotechnology

Diligence memoA one-page analyst read on Chitogen Inc — recommendation, valuation, rhythm, risks.
$3.9M
Total raised · real
4
Rounds
1.4×
Latest step-up
Top 62%
Sector rank · raised
Seed
Latest stage · inferred · Wed Dec 13 2023 00:00:00 GMT+0000 (Coordinated Universal Time)

Chitogen Inc looks under-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.

Under-valued
  • Modeled value is 0.48× the median modeled value of Seed Biotechnology companies in 2022–2024 (207 peers) — value vs value, same stage and era.
  • Issuer reports $0–$1M revenue while modeled below niche peers.
At-risk
  • Last raise 2.5 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

Chitogen Inc is one of 4291 Biotechnology companies tracked from PLYMOUTH. By capital raised it ranks in the long tail (ahead of 39% 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
$0–$1M
Issuer revenue
Rule 506(b)
Reg D exemption
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$100MSeed · 2013-10-31 Raised $1.5M (real) Modeled valuation $69M (est)$1.5M$69MSeed2013Pre-Seed · 2013-10-31 Raised $105K (real) Modeled valuation $5.8M (est)$105K$5.8MPre-Seed2013Seed · 2018-08-10 Raised $524K (real) Modeled valuation $23M (est)$524K$23MSeed2018Pre-Seed · 2018-08-10 Raised $207K (real) Modeled valuation $11M (est)$207K$11MPre-Seed2018Seed · 2022-12-16 Raised $750K (real) Modeled valuation $8.5M (est)$750K$8.5MSeed2022Seed · 2023-12-13 Raised $1.1M (real) Modeled valuation $6.9M (est)$1.1M$6.9MSeed2023+$105K+$524K+$207K+$750K+$1.1MCumulative $4.2M

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$1.5M · 2013
Bridge · Seed-stage$105K · 2013smaller follow-on
Seed extension$524K · 2018
Bridge · Seed-stage$207K · 2018smaller follow-on
Seed extension$750K · 2022
Seed extension$1.1M · 2023

Stages are modeled from round size (public records carry no series label). Ladder is contiguous — every modeled rung has a record.

Modeled valuation trajectory
$6.9M
Base estimate est.
$756K
Conservative case
$21.3M
Upside case
$5.3M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Seeda $1.0M–$4.0M round). Valuation is modeled from stage benchmarks scaled by the biotech sector profile. Directional, not a quoted figure.

Seed · modeled $68.7M · 2013-10-312013Pre-Seed · modeled $5.8M · 2013-10-31Seed · modeled $23.2M · 2018-08-10Pre-Seed · modeled $11.4M · 2018-08-10Seed · modeled $8.5M · 2022-12-16Seed · modeled $6.9M · 2023-12-132023
Model inputs · modeled:benchmark-stage-stepup-v1
20%
Dilution assumption
Implied ownership sold in the financing.
32%
Survival probability
14% low · 50% high
1.74×/yr
Annual markup
2.28×/yr upside case
2.5 yr
Elapsed time used
2.5 yr actual, capped for stale marks
biotech
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
24 mo
Avg between rounds
$383K/yr
Capital velocity
12.7 yr
On record since
2013
First round
6
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) 0.5× of median
This company$3.9M
Sector median$7.2M
Latest round — vs other Seed rounds in sector (real $, this stage) 0.6× of median
This company$1.1M
Sector median$1.7M
Modeled value — vs sector median (estimate, all stages) 0.1× of median
This company$6.9M
Sector median$64.2M

Raised more than 39% of sector peers (real $). Modeled value above 14% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Seed) 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 #158 of 207.

This companyCohort peer
$1.0M$10.0M$100.0M$1.0M$10.0MCapital raised (log)Mesentech Inc. · Seed Raised $3.9M · modeled $65.6M (est)Marlinspike Therapeutics, Inc. · Seed Raised $3.5M · modeled $64.3M (est)Microbial Machines, Inc. · Seed Raised $3.9M · modeled $63.6M (est)Pearl Diagnostics, Inc. · Seed Raised $3.5M · modeled $62.8M (est)Crossfire Medical Inc · Seed Raised $3.0M · modeled $57.5M (est)Design Pharmaceuticals, Inc. · Seed Raised $3.0M · modeled $56.9M (est)Tekv Holdings LLC · Seed Raised $4.0M · modeled $55.4M (est)Mi-Helper, Inc. · Seed Raised $4.0M · modeled $50.9M (est)Thelium Therapeutics Inc. · Seed Raised $3.1M · modeled $50.7M (est)Turtle Health, Inc. · Seed Raised $2.7M · modeled $49.1M (est)Accufix Holdings, Inc. · Seed Raised $4.2M · modeled $46.7M (est)Kyttaro Ltd · Seed Raised $5.2M · modeled $45.5M (est)Chitogen Inc (this company) Raised $3.9M · modeled $6.9M (est)Chitogen Inc
CompanyStageRaised · realValue · estvs peer med.
Mesentech Inc.Seed$3.9M$65.6M4.61×
Marlinspike Therapeutics, Inc.Seed$3.5M$64.3M4.52×
Microbial Machines, Inc.Seed$3.9M$63.6M4.47×
Pearl Diagnostics, Inc.Seed$3.5M$62.8M4.41×
Crossfire Medical IncSeed$3.0M$57.5M4.04×
Design Pharmaceuticals, Inc.Seed$3.0M$56.9M4.00×
Tekv Holdings LLCSeed$4.0M$55.4M3.89×
Mi-Helper, Inc.Seed$4.0M$50.9M3.58×
Thelium Therapeutics Inc.Seed$3.1M$50.7M3.56×
Turtle Health, Inc.Seed$2.7M$49.1M3.45×
Accufix Holdings, Inc.Seed$4.2M$46.7M3.28×
Kyttaro LtdSeed$5.2M$45.5M3.20×
Chitogen Inc this companySeed$3.9M$6.9M0.48×
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$1.5M2013-10-31$7.7M$68.7M85%
Pre-Seed$105K2013-10-31$583K$5.8M85%
Seed$524K2018-08-10$2.6M$23.2M90%
Pre-Seed$207K2018-08-10$1.1M$11.4M90%
Seed$750K2022-12-16$3.8M$8.5M90%
Seed$1.1M2023-12-13$5.3M$6.9M90%
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. Seed$1.5M2013-10-31
    • First recorded raise — entered as Seed.
    • 23 investors on this round.
  2. Pre-Seed$105K2013-10-31
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 14.7× smaller than the prior — bridge or down round.
    • 2 investors on this round.
  3. Seed$524K2018-08-10
    • Raised again after 57 mo — slower than the ~14 mo sector norm.
    • Round 5.0× larger than the prior — scaling up.
    • 13 investors on this round.
  4. Pre-Seed$207K2018-08-10
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 2.5× smaller than the prior — bridge or down round.
    • 7 investors on this round.
  5. Seed$750K2022-12-16
    • Raised again after 52 mo — slower than the ~14 mo sector norm.
    • Round 3.6× larger than the prior — scaling up.
  6. Seed$1.1M2023-12-13
    • Raised 12 mo later, in step with the ~14 mo sector norm.
    • Round 1.4× larger than the prior — scaling up.
Intelligence
2025 ~Q4
Modeled next raise · ~24mo cadence
$1.5M
Modeled next size est.range $1.1M$2.4M
1.4×
Last step-up
$383K/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
Robert Levy5 other2018-08
James Drake1 other2018-08
Kai Kroll1 other2018-08
Albert Emola2018-08
Donald L Sturtevant2013-10
Donald Sturtevant2018-08
Douglas Alan Eayrs2013-10
Douglas Eayrs2018-08
Frederick Albright2018-08
James Franklin Drake2013-10
Michael Patrick Reilly2013-10
Steve Muellerleile2023-12
Yong Hua Zhu2013-10
Yong Zhu2018-08
Registry & provenance

Chitogen 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
1470264
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
Mercury Bio, Inc.BiotechnologySeed$3.9M$5.8Msame sector · same stage
Sift Biosciences, Inc.BiotechnologySeed$3.8M$8.4Msame sector · same stage
BioProtection Systems CorpBiotechnologySeed$4.0M$5.5Msame sector · same stage
Care Connectors, Inc.BiotechnologySeed$4.0M$6.4Msame sector · same stage
Iverson Genetic Diagnostics IncBiotechnologySeed$3.7M$6.3Msame sector · same stage
Nexgenia Inc.BiotechnologySeed$4.1M$5.3Msame sector · same stage
BioROSA Technologies IncBiotechnologySeed$3.6M$8.9Msame sector · same stage
IES Diagnostics, Inc.BiotechnologySeed$4.1M$7.7Msame 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
Chimeron Bio CorpBiotechnologySeries A$76.5M89%
Histogen Inc.BiotechnologySeries B$82.8M87%
Flugen IncBiotechnologySeries A$295.9M85%
Holobiome, Inc.BiotechnologySeries A$39.9M84%
CND Life Sciences, Inc.BiotechnologySeries A$33.0M84%
SynGen Inc.BiotechnologySeed$17.8M84%
Chameleon Biosciences, Inc.BiotechnologySeries A$273.0M83%
CytoBioscience, Inc.BiotechnologySeries B$60.7M83%
Frequently asked
How much funding has Chitogen Inc raised?
Chitogen Inc has raised approximately $3.9M in disclosed capital across 4 recorded financing rounds, aggregated from public filings.
What is Chitogen Inc's estimated valuation?
Provath's modeled valuation for Chitogen Inc is approximately $6.9M (modeled range $756K–$21.3M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Chitogen Inc at?
Chitogen Inc's latest modeled financing stage is Seed. Its most recent recorded round closed around Wed Dec 13.
What does Chitogen Inc do and where is it based?
Chitogen Inc operates in the Biotechnology sector, based in PLYMOUTH.
Explore related

See where Chitogen 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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