Companies · Biotechnology

Conjugon Inc

MADISON · Biotechnology

Diligence memoA one-page analyst read on Conjugon Inc — recommendation, valuation, rhythm, risks.
$3.6M
Total raised · real
4
Rounds
0.5×
Latest step-up
Top 64%
Sector rank · raised
Seed
Latest stage · inferred · Fri Apr 08 2016 00:00:00 GMT+0000 (Coordinated Universal Time)

Conjugon Inc looks under-valued against its niche peers and is dormant 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 0.23× the median modeled value of Seed Biotechnology companies in 2016–2018 (175 peers) — value vs value, same stage and era.
Dormant
  • Last raise 10.2 yr ago; this sector typically re-raises about every 14 months.
  • Silent for over 3× the sector's normal 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

Conjugon Inc is one of 4291 Biotechnology companies tracked from MADISON. By capital raised it ranks in the long tail (ahead of 37% 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
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 · 2010-04-30 Raised $1.9M (real) Modeled valuation $85M (est)$1.9M$85MSeed2010Seed · 2013-11-26 Raised $595K (real) Modeled valuation $26M (est)$595K$26MSeed2013Seed · 2014-08-05 Raised $700K (real) Modeled valuation $31M (est)$700K$31MSeed2014Seed · 2016-04-08 Raised $375K (real) Modeled valuation $17M (est)$375K$17MSeed2016+$595K+$700K+$375KCumulative $3.6M

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$1.9M · 2010
Seed extension$595K · 2013
Seed extension$700K · 2014
Seed extension$375K · 2016

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 50%.

Modeled valuation trajectory
$16.7M
Base estimate est.
$270K
Conservative case
$130.6M
Upside case
$1.9M
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 $85.5M · 2010-04-302010Seed · modeled $26.4M · 2013-11-26Seed · modeled $31.1M · 2014-08-05Seed · modeled $16.7M · 2016-04-082016
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
6.0 yr
Elapsed time used
10.2 yr actual, capped for stale marks
biotech
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
24 mo
Avg between rounds
$605K/yr
Capital velocity
16.2 yr
On record since
2010
First round
4
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$3.6M
Sector median$7.2M
Latest round — vs other Seed rounds in sector (real $, this stage) 0.2× of median
This company$375K
Sector median$1.7M
Modeled value — vs sector median (estimate, all stages) 0.3× of median
This company$16.7M
Sector median$64.2M

Raised more than 37% 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 (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 #161 of 175.

This companyCohort peer
$10.0M$100.0M$1.0B$1.0M$10.0MCapital raised (log)Kenjockety Biotechnology, LLC · Seed Raised $4.0M · modeled $177.6M (est)Mimedx Group, Inc. · Seed Raised $8.2M · modeled $177.6M (est)Helocyte, Inc. · Seed Raised $4.0M · modeled $177.5M (est)CytoDel, INC. · Seed Raised $4.1M · modeled $173.4M (est)Finch Therapeutics, Inc. · Seed Raised $4.5M · modeled $165.8M (est)Cordex Systems, Inc · Seed Raised $6.4M · modeled $164.2M (est)Viking Therapeutics, Inc. · Seed Raised $3.7M · modeled $162.3M (est)Escalier Biosciences B.V. · Seed Raised $3.5M · modeled $155.4M (est)Corino Therapeutics, Inc. · Seed Raised $3.5M · modeled $154.3M (est)BluDiagnostics, Inc. · Seed Raised $4.5M · modeled $151.0M (est)Captozyme Inc. · Seed Raised $3.4M · modeled $151.0M (est)FORGE Life Science, LLC · Seed Raised $3.6M · modeled $149.5M (est)Conjugon Inc (this company) Raised $3.6M · modeled $16.7M (est)Conjugon Inc
CompanyStageRaised · realValue · estvs peer med.
Kenjockety Biotechnology, LLCSeed$4.0M$177.6M2.50×
Mimedx Group, Inc.Seed$8.2M$177.6M2.50×
Helocyte, Inc.Seed$4.0M$177.5M2.50×
CytoDel, INC.Seed$4.1M$173.4M2.44×
Finch Therapeutics, Inc.Seed$4.5M$165.8M2.33×
Cordex Systems, IncSeed$6.4M$164.2M2.31×
Viking Therapeutics, Inc.Seed$3.7M$162.3M2.28×
Escalier Biosciences B.V.Seed$3.5M$155.4M2.19×
Corino Therapeutics, Inc.Seed$3.5M$154.3M2.17×
BluDiagnostics, Inc.Seed$4.5M$151.0M2.12×
Captozyme Inc.Seed$3.4M$151.0M2.12×
FORGE Life Science, LLCSeed$3.6M$149.5M2.10×
Conjugon Inc this companySeed$3.6M$16.7M0.23×
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$1.9M2010-04-30$9.6M$85.5M90%
Seed$595K2013-11-26$3.0M$26.4M90%
Seed$700K2014-08-05$3.5M$31.1M90%
Seed$375K2016-04-08$1.9M$16.7M90%
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$1.9M2010-04-30
    • First recorded raise — entered as Seed.
  2. Seed$595K2013-11-26
    • Raised again after 43 mo — slower than the ~14 mo sector norm.
    • Round 3.2× smaller than the prior — bridge or down round.
  3. Seed$700K2014-08-05
    • Raised 8 mo later, in step with the ~14 mo sector norm.
    • Round roughly the size of the prior one.
  4. Seed$375K2016-04-08
    • Raised 20 mo later, in step with the ~14 mo sector norm.
    • Round 1.9× smaller than the prior — bridge or down round.
Intelligence
2018 ~Q2
Modeled next raise · ~24mo cadence
$375K
Modeled next size est.range $375K$600K
0.5×
Last step-up
$605K/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
H. Thomas Watkins1 other2013-11
Alicia Loffler2010-04
Anthony Clemento2010-04
Brian T. McLoughlin2014-08
Carl R. Spalding2014-08
Carl Spalding2010-04
Gary Greenwood2010-04
Gary Noskin2013-11
Gary Thomas Noskin2014-08
Paul Evans2013-11
Paul T. Evans2014-08
Richard Burgess2010-04
Richard Thomas Burgess2014-08
Robert Lippert2014-08
Steven R. Watt2014-08
Steven Watt2010-04
Registry & provenance

Conjugon 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
1209987
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
Ariste Medical, LLCBiotechnologySeed$3.5M$13.3Msame sector · same stage
Facible BioDiagnostics, Inc.BiotechnologySeed$3.7M$13.8Msame sector · same stage
NRX Pharmaceuticals, Inc.BiotechnologySeed$3.5M$12.3Msame sector · same stage
Growth Curve Bio, LLCBiotechnologySeed$3.5M$17.0Msame sector · same stage
Adgero Biopharmaceuticals Holdings, Inc.BiotechnologySeed$3.5M$20.4Msame sector · same stage
Serometrix, LLCBiotechnologySeed$3.7M$12.6Msame sector · same stage
Red Sky Health CorpBiotechnologySeed$3.5M$19.8Msame sector · same stage
FORAY bioscience, Inc.BiotechnologySeed$3.4M$19.9Msame sector · same stage
Frequently asked
How much funding has Conjugon Inc raised?
Conjugon Inc has raised approximately $3.6M in disclosed capital across 4 recorded financing rounds, aggregated from public filings.
What is Conjugon Inc's estimated valuation?
Provath's modeled valuation for Conjugon Inc is approximately $16.7M (modeled range $270K–$130.6M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Conjugon Inc at?
Conjugon Inc's latest modeled financing stage is Seed. Its most recent recorded round closed around Fri Apr 08.
What does Conjugon Inc do and where is it based?
Conjugon Inc operates in the Biotechnology sector, based in MADISON.
Explore related

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