Diligence memo · auto-generated · as of July 2, 2026
Esanex, Inc.
Esanex, Inc. looks under-valued against its niche peers and is dormant on financing cadence.
Businessfiled
Esanex, Inc. operates in Pharmaceuticals, based in INDIANAPOLIS.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Esanex, Inc. has raised $18M in disclosed capital across 2 recorded rounds, aggregated from public filings. Its latest round is modeled as Series B (a $15M–$40M round).
Largest single filing: $16M on 2012-04-16.
Most recent recorded round closed around 2017-03-27.
Valuation (modeled)modeled
Provath models Esanex, Inc. at approximately $88M (range $5.4M–$338M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Under-valued. Modeled value is 0.13× the median modeled value of Series B Pharmaceuticals companies in 2016–2018 (40 peers) — value vs value, same stage and era.
Financing rhythm & timingmixed
Historic cadence: a new round about every 20 months.
Last raise 9.3 yr ago; this sector typically re-raises about every 13 months.
Silent for over 3× the sector's normal cadence.
The last round was 1.8× smaller than the prior — a bridge or down round.
Comparablesmixed
Capital scale ranks ahead of 65% of Pharmaceuticals peers (1613 compared).
Modeled value ranks above 53% of those peers.
Closest niche peers: LP Investors, LLC, GigaGen, Inc., Vitality Biopharma, Inc., Madrigal Pharmaceuticals, Inc., Slayback Pharma Ltd Liability Co.
Peoplefiled
5 named people on file across officers, directors and signatories.
Risks & flagsmixed
Financing has been silent well beyond sector cadence — possibly defunct, acquired, or paused.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.