Companies · Biotechnology

Exicure, Inc.

SKOKIE · Biotechnology

Diligence memoA one-page analyst read on Exicure, Inc. — recommendation, valuation, rhythm, risks.
$85.9M
Total raised · real
3
Rounds
1.1×
Latest step-up
Top 12%
Sector rank · raised
Series C
Latest stage · inferred · Wed Aug 22 2018 00:00:00 GMT+0000 (Coordinated Universal Time)

Exicure, 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 0.44× the median modeled value of Series C Biotechnology companies in 2016–2018 (41 peers) — value vs value, same stage and era.
Dormant
  • Last raise 7.9 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

Exicure, Inc. is one of 4291 Biotechnology companies tracked from SKOKIE. By capital raised it ranks in the upper tier (ahead of 89% of sector peers), and in the upper tier 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
Rule 506(b)
Reg D exemption
39
Investors (latest)
2017
Year incorporated
2018-08-22
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$500M$1.0B$1.5B$2.0BSeries C · 2017-09-26 Raised $43M (real) Modeled valuation $1.8B (est)$43M$1.8BSeries C2017Series B · 2017-09-26 Raised $21M (real) Modeled valuation $825M (est)$21M$825MSeries B2017Series C · 2018-08-22 Raised $22M (real) Modeled valuation $901M (est)$22M$901MSeries C2018+$21M+$22MCumulative $86M

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
Series C$43.1M · 2017
Bridge · Series C-stage$20.8M · 2017smaller follow-on
Series C extension$22.0M · 2018

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series A — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 40%.

Modeled valuation trajectory
$901.1M
Base estimate est.
$68.1M
Conservative case
$2.4B
Upside case
$146.7M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Ca $40M–$100M round). Valuation is modeled from stage benchmarks scaled by the biotech sector profile. Directional, not a quoted figure.

Series C · modeled $1.8B · 2017-09-262017Series B · modeled $825.2M · 2017-09-26Series C · modeled $901.1M · 2018-08-222018
Model inputs · modeled:benchmark-stage-stepup-v1
15%
Dilution assumption
Implied ownership sold in the financing.
62%
Survival probability
46% low · 72% high
1.46×/yr
Annual markup
1.68×/yr upside case
6.0 yr
Elapsed time used
7.9 yr actual, capped for stale marks
biotech
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
5 mo
Avg between rounds
$95.1M/yr
Capital velocity
8.8 yr
On record since
2017
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) 12× above median
This company$85.9M
Sector median$7.2M
Latest round — vs other Series C rounds in sector (real $, this stage) 0.5× of median
This company$22.0M
Sector median$46.5M
Modeled value — vs sector median (estimate, all stages) 14× above median
This company$901.1M
Sector median$64.2M

Raised more than 89% of sector peers (real $). Modeled value above 88% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series C) 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 #37 of 41.

This companyCohort peer
$100.0M$1.0B$10.0B$10.0M$100.0M$1.0BCapital raised (log)Genesis Biopharma, Inc · Series C Raised $131.5M · modeled $4.1B (est)Alder Biopharmaceuticals Inc · Series C Raised $100.0M · modeled $4.1B (est)Ideaya Biosciences, Inc. · Series C Raised $111.4M · modeled $3.9B (est)Stoke Therapeutics, Inc. · Series C Raised $90.8M · modeled $3.7B (est)4D Molecular Therapeutics Inc · Series C Raised $108.6M · modeled $3.7B (est)Sutro Biopharma Inc · Series C Raised $85.4M · modeled $3.5B (est)Evelo Biosciences, Inc. · Series C Raised $131.5M · modeled $3.3B (est)Celularity Inc. · Series C Raised $117.7M · modeled $3.2B (est)Codiak BioSciences, Inc. · Series C Raised $107.5M · modeled $3.1B (est)Arcturus Therapeutics Ltd. · Series C Raised $67.8M · modeled $2.8B (est)Celldex Therapeutics, Inc. · Series C Raised $64.5M · modeled $2.6B (est)Micell Technologies Inc · Series C Raised $62.1M · modeled $2.5B (est)Exicure, Inc. (this company) Raised $85.9M · modeled $901.1M (est)Exicure, Inc.
CompanyStageRaised · realValue · estvs peer med.
Genesis Biopharma, IncSeries C$131.5M$4.1B2.00×
Alder Biopharmaceuticals IncSeries C$100.0M$4.1B2.00×
Ideaya Biosciences, Inc.Series C$111.4M$3.9B1.88×
Stoke Therapeutics, Inc.Series C$90.8M$3.7B1.80×
4D Molecular Therapeutics IncSeries C$108.6M$3.7B1.80×
Sutro Biopharma IncSeries C$85.4M$3.5B1.71×
Evelo Biosciences, Inc.Series C$131.5M$3.3B1.63×
Celularity Inc.Series C$117.7M$3.2B1.55×
Codiak BioSciences, Inc.Series C$107.5M$3.1B1.53×
Arcturus Therapeutics Ltd.Series C$67.8M$2.8B1.36×
Celldex Therapeutics, Inc.Series C$64.5M$2.6B1.25×
Micell Technologies IncSeries C$62.1M$2.5B1.24×
Exicure, Inc. this companySeries C$85.9M$901.1M0.44×
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.
Series C$43.1M2017-09-26$287.3M$1.8B90%
Series B$20.8M2017-09-26$115.5M$825.2M90%
Series C$22.0M2018-08-22$146.7M$901.1M90%
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. Series C$43.1M2017-09-26
    • First recorded raise — entered as Series C.
    • 84 investors on this round.
  2. Series B$20.8M2017-09-26
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 2.1× smaller than the prior — bridge or down round.
    • 119 investors on this round.
  3. Series C$22.0M2018-08-22
    • Raised 11 mo later, in step with the ~14 mo sector norm.
    • Round roughly the size of the prior one.
    • 39 investors on this round.
Intelligence
2019 ~Q1
Modeled next raise · ~5mo cadence
$23.3M
Modeled next size est.range $22.0M$37.3M
1.1×
Last step-up
$95.1M/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
Helen S. Kim5 other2017-09
David R. Walt4 other2017-09
Chad Mirkin3 other2017-09
David S. Snyder2 other2017-09
Jay R. Venkatesan2 other2017-09
C. Shad Thaxton1 other2017-09
David A. Giljohann1 other2017-09
Ekambar R. Kandimalla2017-09
Matthias R. Schroff2018-08
Registry & provenance

Exicure, 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
1698530
SEC CIK
2017
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
AuraSense Therapeutics, LLCBiotechnologySeries A$33.6M$535.0Mnetwork6 shared operators · same sector
IconOVir Bio, Inc.BiotechnologySeries C$97.2M$271.1Mnetwork1 shared operator · same sector · same stage
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A2 Biotherapeutics, Inc.BiotechnologySeries C$143.1M$1.2Bnetwork1 shared operator · same sector · same stage
Q-State Holdings, Inc.BiotechnologySeries C$86.1M$869.1Msame sector · same stage
Therini Bio, Inc.BiotechnologySeries C$84.2M$1.1Bsame sector · same stage
Unicycive Therapeutics, Inc.BiotechnologySeries C$81.7M$499.8Msame sector · same stage
Aurion Biotech, Inc.BiotechnologySeries C$81.3M$1.2Bsame 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
Exai Bio Inc.BiotechnologySeries C$1.8B88%
Exacis Biotherapeutics Inc.BiotechnologySeed$42.1M87%
Excision BioTherapeutics IncBiotechnologySeries C$338.1M86%
ExVivo Labs Inc.BiotechnologySeries A$191.5M86%
Exxel Pharma, INC.BiotechnologyPre-Seed$2.2M86%
Cellicure, Inc.BiotechnologySeed$95.5M85%
Enrich Biosystems Inc.BiotechnologySeed$3.3M85%
Enspire Bio, Inc.BiotechnologySeed$143.6M85%
Frequently asked
How much funding has Exicure, Inc. raised?
Exicure, Inc. has raised approximately $85.9M in disclosed capital across 3 recorded financing rounds, aggregated from public filings.
What is Exicure, Inc.'s estimated valuation?
Provath's modeled valuation for Exicure, Inc. is approximately $901.1M (modeled range $68.1M–$2.4B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Exicure, Inc. at?
Exicure, Inc.'s latest modeled financing stage is Series C. Its most recent recorded round closed around Wed Aug 22.
What does Exicure, Inc. do and where is it based?
Exicure, Inc. operates in the Biotechnology sector, based in SKOKIE.
Explore related

See where Exicure, Inc. sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.

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