Companies · Pharmaceuticals

CorMedix Inc.

BRIDGEWATER · Pharmaceuticals

Diligence memoA one-page analyst read on CorMedix Inc. — recommendation, valuation, rhythm, risks.
$3.5M
Total raised · real
2
Rounds
0.3×
Latest step-up
Top 65%
Sector rank · raised
Seed
Latest stage · inferred · Tue Sep 11 2012 00:00:00 GMT+0000 (Coordinated Universal Time)

CorMedix 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 pharma 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 0.54× the median modeled value of Seed Pharmaceuticals companies in 2010–2012 (58 peers) — value vs value, same stage and era.
Dormant
  • Last raise 13.8 yr ago; this sector typically re-raises about every 13 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 Pharmaceuticals

CorMedix Inc. is one of 1610 Pharmaceuticals companies tracked from BRIDGEWATER. By capital raised it ranks in the long tail (ahead of 36% 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 · 2009-10-29 Raised $2.6M (real) Modeled valuation $100M (est)$2.6M$100MSeed2009Seed · 2012-09-11 Raised $850K (real) Modeled valuation $32M (est)$850K$32MSeed2012+$850KCumulative $3.5M

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$2.6M · 2009
Seed extension$850K · 2012

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
$32.3M
Base estimate est.
$643K
Conservative case
$253.7M
Upside case
$4.3M
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 pharma sector profile. Directional, not a quoted figure.

Seed · modeled $99.7M · 2009-10-292009Seed · modeled $32.3M · 2012-09-112012
Model inputs · modeled:benchmark-stage-stepup-v1
20%
Dilution assumption
Implied ownership sold in the financing.
34%
Survival probability
15% low · 52% high
1.68×/yr
Annual markup
2.20×/yr upside case
6.0 yr
Elapsed time used
13.8 yr actual, capped for stale marks
pharma
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
34 mo
Avg between rounds
$1.2M/yr
Capital velocity
16.7 yr
On record since
2009
First round
2
Rounds on file
How it compares to the market

Benchmarked against 1610 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) 0.4× of median
This company$3.5M
Sector median$8.1M
Latest round — vs other Seed rounds in sector (real $, this stage) 0.5× of median
This company$850K
Sector median$1.7M
Modeled value — vs sector median (estimate, all stages) 0.4× of median
This company$32.3M
Sector median$76.1M

Raised more than 36% of sector peers (real $). Modeled value above 34% 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 #50 of 58.

This companyCohort peer
$10.0M$100.0M$1.0B$1.0M$10.0MCapital raised (log)First China Pharmaceutical Group, Inc. · Seed Raised $6.8M · modeled $145.7M (est)MediQuest Holdings LLC · Seed Raised $4.7M · modeled $140.1M (est)Ampla Pharmaceuticals Inc · Seed Raised $5.4M · modeled $138.9M (est)Biomimetix Pharmaceutical, Inc. · Seed Raised $8.1M · modeled $125.5M (est)Prexa Pharmaceuticals Inc · Seed Raised $3.3M · modeled $123.9M (est)VIA Pharmaceuticals, Inc. · Seed Raised $4.5M · modeled $121.8M (est)iTherx Pharma, Inc. · Seed Raised $3.2M · modeled $120.7M (est)Crititech Inc · Seed Raised $6.0M · modeled $114.1M (est)Harbor BioSciences, Inc. · Seed Raised $2.8M · modeled $107.5M (est)iTherX Pharmaceuticals, Inc. · Seed Raised $2.8M · modeled $105.8M (est)Lotus Tissue Repair, Inc. · Seed Raised $2.8M · modeled $104.6M (est)CELLECTAR, Inc. · Seed Raised $2.7M · modeled $103.5M (est)CorMedix Inc. (this company) Raised $3.5M · modeled $32.3M (est)CorMedix Inc.
CompanyStageRaised · realValue · estvs peer med.
First China Pharmaceutical Group, Inc.Seed$6.8M$145.7M2.44×
MediQuest Holdings LLCSeed$4.7M$140.1M2.35×
Ampla Pharmaceuticals IncSeed$5.4M$138.9M2.33×
Biomimetix Pharmaceutical, Inc.Seed$8.1M$125.5M2.10×
Prexa Pharmaceuticals IncSeed$3.3M$123.9M2.08×
VIA Pharmaceuticals, Inc.Seed$4.5M$121.8M2.04×
iTherx Pharma, Inc.Seed$3.2M$120.7M2.02×
Crititech IncSeed$6.0M$114.1M1.91×
Harbor BioSciences, Inc.Seed$2.8M$107.5M1.80×
iTherX Pharmaceuticals, Inc.Seed$2.8M$105.8M1.77×
Lotus Tissue Repair, Inc.Seed$2.8M$104.6M1.75×
CELLECTAR, Inc.Seed$2.7M$103.5M1.73×
CorMedix Inc. this companySeed$3.5M$32.3M0.54×
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$2.6M2009-10-29$13.1M$99.7M90%
Seed$850K2012-09-11$4.3M$32.3M90%
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$2.6M2009-10-29
    • First recorded raise — entered as Seed.
  2. Seed$850K2012-09-11
    • Raised again after 34 mo — slower than the ~13 mo sector norm.
    • Round 3.1× smaller than the prior — bridge or down round.
Intelligence
2015 ~Q3
Modeled next raise · ~34mo cadence
$850K
Modeled next size est.range $850K$1.4M
0.3×
Last step-up
$1.2M/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
RIchard M. Cohen2 other2012-09
Antony Pfaffle1 other2009-10
Bruce Cooper1 other2009-10
John Houghton1 other2009-10
Lindsay Rosenwald1 other2009-10
Stephen Pilatzke1 other2009-10
Timothy Hofer1 other2009-10
Anthony E. Pfaffle2012-09
Gary A. Gelbfish2012-09
Mahendra Patel2009-10
Mark Houser2009-10
Matthew W. Duffy2012-09
Randy W. Milby2012-09
Russell Ellison2009-10
Steven W. Lefkowitz2012-09
Timothy A. Hofer2012-09
Registry & provenance

CorMedix 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
1410098
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
Avotres Inc.BiotechnologySeed$8.0M$36.9Mnetwork2 shared operators · same stage
Lennham Pharmaceuticals, Inc.PharmaceuticalsSeed$3.5M$22.9Msame sector · same stage
Actinobac Biomed, Inc.PharmaceuticalsSeed$3.4M$38.0Msame sector · same stage
Combinent BioMedical Systems, Inc.PharmaceuticalsSeed$3.4M$22.8Msame sector · same stage
Patients' & Consumers' Pharmaceutical Company, Inc.PharmaceuticalsSeed$3.6M$32.3Msame sector · same stage
Esanik Therapeutics, Inc.PharmaceuticalsSeed$3.3M$13.1Msame sector · same stage
GRAM Acquisition, LLCPharmaceuticalsSeed$3.3M$31.1Msame sector · same stage
M Chest Institutional Pharmacy Group, LLCPharmaceuticalsSeed$3.7M$21.4Msame sector · same stage
Frequently asked
How much funding has CorMedix Inc. raised?
CorMedix Inc. has raised approximately $3.5M in disclosed capital across 2 recorded financing rounds, aggregated from public filings.
What is CorMedix Inc.'s estimated valuation?
Provath's modeled valuation for CorMedix Inc. is approximately $32.3M (modeled range $643K–$253.7M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is CorMedix Inc. at?
CorMedix Inc.'s latest modeled financing stage is Seed. Its most recent recorded round closed around Tue Sep 11.
What does CorMedix Inc. do and where is it based?
CorMedix Inc. operates in the Pharmaceuticals sector, based in BRIDGEWATER.
Explore related

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