Diligence memo · auto-generated · as of July 2, 2026
Circle Pharma, Inc.
Circle Pharma, Inc. looks fair against its niche peers and is quiet on financing cadence.
Businessfiled
Circle Pharma, Inc. operates in Pharma, based in SOUTH SAN FRANCISCO.
Sub-sector tags: pharma.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Circle Pharma, Inc. has raised $178M in disclosed capital across 4 recorded rounds, aggregated from public filings. Its latest round is modeled as Series C (a $40M–$100M round).
Largest single filing: $92M on 2024-06-28.
Most recent recorded round closed around 2024-06-28.
Valuation (modeled)modeled
Provath models Circle Pharma, Inc. at approximately $811M (range $300M–$1.2B). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Fair. Modeled value is 1.28× the median modeled value of Series C Pharma companies in 2022–2024 (7 peers) — value vs value, same stage and era. Within the normal band (128% of peer median) for its niche.
Financing rhythm & timingmixed
Historic cadence: a new round about every 16 months.
Last raise 2.0 yr ago; this sector typically re-raises about every 16 months.
Slightly overdue versus sector cadence.
The last round was 1.2× smaller than the prior — a bridge or down round.
Comparablesmixed
Capital scale ranks ahead of 95% of Pharma peers (310 compared).
Modeled value ranks above 89% of those peers.
Closest niche peers: Averna Therapeutics Inc., Soleno Therapeutics Inc, Progentos Therapeutics, Inc., Intrinsic Therapeutics Inc, Digital Therapeutics, Inc..
Peoplefiled
24 named people on file across officers, directors and signatories.
Risks & flagsmixed
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.