Companies · Biotechnology

Cordex Systems, Inc

ANNAPOLIS · Biotechnology

Diligence memoA one-page analyst read on Cordex Systems, Inc — recommendation, valuation, rhythm, risks.
$6.4M
Total raised · real
2
Rounds
0.2×
Latest step-up
Top 53%
Sector rank · raised
Seed
Latest stage · inferred · Tue Sep 27 2016 00:00:00 GMT+0000 (Coordinated Universal Time)

Cordex Systems, Inc looks over-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.

Over-valued
  • Modeled value is 2.31× the median modeled value of Seed Biotechnology companies in 2016–2018 (175 peers) — value vs value, same stage and era.
  • Issuer reports no revenue, yet is modeled well above niche peers.
Dormant
  • Last raise 9.8 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

Cordex Systems, Inc is one of 4291 Biotechnology companies tracked from ANNAPOLIS. By capital raised it ranks mid-pack (ahead of 48% of sector peers), and mid-pack 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
No revenue
Issuer revenue
Rule 506(b)
Reg D exemption
4
Investors (latest)
2012
Year incorporated
2016-09-27
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$50M$100M$150M$200MSeed · 2015-04-01 Raised $2.7M (real) Modeled valuation $120M (est)$2.7M$120MSeed2015Seed · 2016-09-27 Raised $3.7M (real) Modeled valuation $164M (est)$3.7M$164MSeed2016Pre-Seed · 2016-09-27 Raised $730K (real) Modeled valuation $40M (est)$730K$40MPre-Seed2016+$3.7M+$730KCumulative $7.1M

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$2.7M · 2015
Seed extension$3.7M · 2016
Bridge · Seed-stage$730K · 2016smaller follow-on

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

Modeled valuation trajectory
$164.2M
Base estimate est.
$2.7M
Conservative case
$1.3B
Upside case
$18.5M
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 $119.9M · 2015-04-012015Seed · modeled $164.2M · 2016-09-27Pre-Seed · modeled $40.3M · 2016-09-272016
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
9.8 yr actual, capped for stale marks
biotech
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
9 mo
Avg between rounds
$4.3M/yr
Capital velocity
11.3 yr
On record since
2015
First round
3
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) 0.9× of median
This company$6.4M
Sector median$7.2M
Latest round — vs other Seed rounds in sector (real $, this stage) 0.4× of median
This company$730K
Sector median$1.7M
Modeled value — vs sector median (estimate, all stages) 2.6× above median
This company$164.2M
Sector median$64.2M

Raised more than 48% of sector peers (real $). Modeled value above 68% 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 #6 of 175.

This companyCohort peer
$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)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)Cordex Systems, Inc (this company) Raised $6.4M · modeled $164.2M (est)Cordex Systems, 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, Inc this companySeed$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×
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$2.7M2015-04-01$13.5M$119.9M85%
Seed$3.7M2016-09-27$18.5M$164.2M90%
Pre-Seed$730K2016-09-27$4.1M$40.3M90%
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$2.7M2015-04-01
    • First recorded raise — entered as Seed.
  2. Seed$3.7M2016-09-27
    • Raised 18 mo later, in step with the ~14 mo sector norm.
    • Round 1.4× larger than the prior — scaling up.
    • Switched to Rule 506(b) (was Rule 4a5).
    • 18 investors on this round.
  3. Pre-Seed$730K2016-09-27
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 5.1× smaller than the prior — bridge or down round.
    • Switched to Rule 505 (was Rule 506(b)).
    • 4 investors on this round.
Intelligence
2017 ~Q2
Modeled next raise · ~9mo cadence
$730K
Modeled next size est.range $730K$1.2M
0.2×
Last step-up
$4.3M/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
Albert Fenwick Fleury2016-09
Kathy Elizabeth Magliato2015-04
Registry & provenance

Cordex Systems, 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
1642403
SEC CIK
2012
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
Spartek Medical Inc.BiotechnologySeed$6.5M$141.1Msame sector · same stage
Bell Biosystems, Inc.BiotechnologySeed$6.2M$169.2Msame sector · same stage
Milagen, Inc.BiotechnologySeed$6.6M$146.5Msame sector · same stage
ReGelTec, Inc.BiotechnologySeed$6.0M$177.6Msame sector · same stage
Axenic Dental IncBiotechnologySeed$5.8M$153.0Msame sector · same stage
O2 Medtech IncBiotechnologySeed$7.1M$160.3Msame sector · same stage
Alpha Orthopaedics, Inc.BiotechnologySeed$7.2M$137.3Msame sector · same stage
Insight Genetics, Inc.BiotechnologySeed$5.5M$135.4Msame 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
Ibex Biosciences, LLCBiotechnologySeed$25.4M88%
Vaxess Technologies, Inc.BiotechnologySeries C$269.9M87%
SyntheX,Inc.BiotechnologySeries A$34.7M87%
Plexium, Inc.BiotechnologySeries C$361.1M86%
Tangen Biosciences, Inc.BiotechnologySeries A$4.1M85%
Verax Biomedical IncBiotechnologySeries A$91.8M85%
RCE Technologies, Inc.BiotechnologySeed$14.5M85%
Otologic Technologies, Inc.BiotechnologyPre-Seed$1.1M85%
Frequently asked
How much funding has Cordex Systems, Inc raised?
Cordex Systems, Inc has raised approximately $6.4M in disclosed capital across 2 recorded financing rounds, aggregated from public filings.
What is Cordex Systems, Inc's estimated valuation?
Provath's modeled valuation for Cordex Systems, Inc is approximately $164.2M (modeled range $2.7M–$1.3B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Cordex Systems, Inc at?
Cordex Systems, Inc's latest modeled financing stage is Seed. Its most recent recorded round closed around Tue Sep 27.
What does Cordex Systems, Inc do and where is it based?
Cordex Systems, Inc operates in the Biotechnology sector, based in ANNAPOLIS.
Explore related

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