Diligence memo · auto-generated · as of July 2, 2026
Flugen Inc
Flugen Inc looks over-valued against its niche peers and is dormant on financing cadence.
Businessfiled
Flugen Inc operates in Biotechnology, based in Madison.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Flugen Inc has raised $37M in disclosed capital across 6 recorded rounds, aggregated from public filings. Its latest round is modeled as Series A (a $4.0M–$15M round).
Largest single filing: $11M on 2015-08-10.
Most recent recorded round closed around 2020-04-24.
Valuation (modeled)modeled
Provath models Flugen Inc at approximately $296M (range $8.9M–$1.6B). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Over-valued. Modeled value is 1.64× the median modeled value of Series A Biotechnology companies in 2019–2021 (216 peers) — value vs value, same stage and era.
Financing rhythm & timingmixed
Historic cadence: a new round about every 16 months.
Last raise 6.2 yr ago; this sector typically re-raises about every 14 months.
Silent for over 3× the sector's normal cadence.
The last round stepped up 1.5× from the prior — scaling.
Comparablesmixed
Capital scale ranks ahead of 78% of Biotechnology peers (4293 compared).
Modeled value ranks above 76% of those peers.
Closest niche peers: TRACT Therapeutics, Inc., TechAccel, LLC, Arrakis Therapeutics, Inc., Trident Labs, Inc., Meissa Vaccines Inc.
Peoplefiled
23 named people on file across officers, directors and signatories.
Risks & flagsmixed
Financing has been silent well beyond sector cadence — possibly defunct, acquired, or paused.
Modeled above niche peers — valuation risk on entry.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.