Companies · Biotechnology

Icosavax, Inc.

Seattle · Biotechnology

Diligence memoA one-page analyst read on Icosavax, Inc. — recommendation, valuation, rhythm, risks.
$129.7M
Total raised · real
2
Rounds
3.3×
Latest step-up
Top 8%
Sector rank · raised
Series C
Latest stage · inferred · Fri Mar 19 2021 00:00:00 GMT+0000 (Coordinated Universal Time)

Icosavax, 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 1.60× the median modeled value of Series C Biotechnology companies in 2019–2021 (120 peers) — value vs value, same stage and era.
Dormant
  • Last raise 5.3 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

Icosavax, Inc. is one of 4291 Biotechnology companies tracked from Seattle. By capital raised it ranks among the largest (ahead of 93% of sector peers), and among the largest 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
36
Investors (latest)
2017
Year incorporated
2021-03-19
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$1.3B$2.5B$3.8B$5.0BSeries B · 2019-08-15 Raised $30M (real) Modeled valuation $1.2B (est)$30M$1.2BSeries B2019Series C · 2021-03-19 Raised $100M (real) Modeled valuation $3.1B (est)$100M$3.1BSeries C2021+$100MCumulative $130M

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 B$30.0M · 2019
Series C$99.7M · 2021

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
$3.1B
Base estimate est.
$308.5M
Conservative case
$7.4B
Upside case
$664.9M
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 B · modeled $1.2B · 2019-08-152019Series C · modeled $3.1B · 2021-03-192021
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
5.3 yr
Elapsed time used
5.3 yr actual, capped for stale marks
biotech
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
19 mo
Avg between rounds
$81.4M/yr
Capital velocity
6.9 yr
On record since
2019
First round
2
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) 18× above median
This company$129.7M
Sector median$7.2M
Latest round — vs other Series C rounds in sector (real $, this stage) 2.1× above median
This company$99.7M
Sector median$46.5M
Modeled value — vs sector median (estimate, all stages) 48× above median
This company$3.1B
Sector median$64.2M

Raised more than 93% of sector peers (real $). Modeled value above 97% 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 #21 of 120.

This companyCohort peer
$1.0B$10.0B$10.0M$100.0M$1.0BCapital raised (log)Stem Biotech LLC · Series C Raised $100.0M · modeled $4.1B (est)Kinnate Biopharma Inc. · Series C Raised $172.5M · modeled $3.9B (est)Arcutis Biotherapeutics, Inc. · Series C Raised $94.5M · modeled $3.9B (est)DNA Research INST LLC · Series C Raised $94.5M · modeled $3.7B (est)M3 Biotechnology, Inc. · Series C Raised $107.3M · modeled $3.6B (est)Checkmate Pharmaceuticals, Inc. · Series C Raised $185.1M · modeled $3.5B (est)Black Diamond Therapeutics, Inc. · Series C Raised $146.3M · modeled $3.5B (est)Finch Therapeutics Group, Inc. · Series C Raised $179.9M · modeled $3.4B (est)Shattuck Labs, Inc. · Series C Raised $165.4M · modeled $3.4B (est)TScan Therapeutics, Inc. · Series C Raised $123.3M · modeled $3.3B (est)Edgewise Therapeutics, Inc. · Series C Raised $120.1M · modeled $3.3B (est)Miragen Therapeutics, Inc. · Series C Raised $197.8M · modeled $3.3B (est)Icosavax, Inc. (this company) Raised $129.7M · modeled $3.1B (est)Icosavax, Inc.
CompanyStageRaised · realValue · estvs peer med.
Stem Biotech LLCSeries C$100.0M$4.1B2.11×
Kinnate Biopharma Inc.Series C$172.5M$3.9B2.02×
Arcutis Biotherapeutics, Inc.Series C$94.5M$3.9B1.99×
DNA Research INST LLCSeries C$94.5M$3.7B1.88×
M3 Biotechnology, Inc.Series C$107.3M$3.6B1.88×
Checkmate Pharmaceuticals, Inc.Series C$185.1M$3.5B1.79×
Black Diamond Therapeutics, Inc.Series C$146.3M$3.5B1.79×
Finch Therapeutics Group, Inc.Series C$179.9M$3.4B1.78×
Shattuck Labs, Inc.Series C$165.4M$3.4B1.75×
TScan Therapeutics, Inc.Series C$123.3M$3.3B1.71×
Edgewise Therapeutics, Inc.Series C$120.1M$3.3B1.70×
Miragen Therapeutics, Inc.Series C$197.8M$3.3B1.69×
Icosavax, Inc. this companySeries C$129.7M$3.1B1.60×
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 B$30.0M2019-08-15$166.7M$1.2B90%
Series C$99.7M2021-03-19$664.9M$3.1B90%
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 B$30.0M2019-08-15
    • First recorded raise — entered as Series B.
    • 22 investors on this round.
  2. Series C$99.7M2021-03-19
    • Raised 19 mo later, in step with the ~14 mo sector norm.
    • Round 3.3× larger than the prior — scaling up.
    • 36 investors on this round.
Intelligence
2022 ~Q4
Modeled next raise · ~19mo cadence
$299.2M
Modeled next size est.range $194.5M$478.7M
3.3×
Last step-up
$81.4M/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
Adam K. Simpson1 other2019-08
Eric A. Moessinger1 other2019-08
Peter A. Kolchinsky1 other2021-03
Tadataka Yamada, M.D.1 other2019-08
Terry A Gould1 other2019-08
Cassia A. Cearley2021-03
Charles A. Richardson2019-08
Douglas A. Holtzman2019-08
Jason A. Hafler2019-08
Mark A. McDade2019-08
Niranjan A. Kanesa-thasan2019-08
Registry & provenance

Icosavax, 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
1786255
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
G1 Therapeutics, Inc.BiotechnologySeries C$134.9M$2.0Bnetwork1 shared operator · same sector · same stage
Precision IBD, Inc.BiotechnologySeries C$111.8M$1.8Bnetwork1 shared operator · same sector · same stage
Emulate, Inc.BiotechnologySeries C$182.3M$1.5Bnetwork1 shared operator · same sector · same stage
Arvinas, Inc.BiotechnologySeries C$129.1M$1.3Bsame sector · same stage
Aduro Biotech, Inc.BiotechnologySeries C$131.0M$2.1Bsame sector · same stage
Trevi Therapeutics, Inc.BiotechnologySeries C$128.3M$1.1Bsame sector · same stage
Evelo Biosciences, Inc.BiotechnologySeries C$131.5M$3.3Bsame sector · same stage
Genesis Biopharma, IncBiotechnologySeries C$131.5M$4.1Bsame 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
Imvax, Inc.BiotechnologySeries D+$4.6B90%
CancerVAX, Inc.BiotechnologyPre-Seed$7.2M89%
Igc Bio Inc.BiotechnologySeed$97.7M86%
Antiva Biosciences, Inc.BiotechnologySeries B$457.3M86%
GeoVax Labs, Inc.BiotechnologySeries A$217.0M86%
X-Vax Technology, Inc.BiotechnologySeries C$2.3B86%
IDBiologics, Inc.BiotechnologySeries A$155.4M86%
InnAVasc Medical, Inc.BiotechnologySeed$21.1M86%
Frequently asked
How much funding has Icosavax, Inc. raised?
Icosavax, Inc. has raised approximately $129.7M in disclosed capital across 2 recorded financing rounds, aggregated from public filings.
What is Icosavax, Inc.'s estimated valuation?
Provath's modeled valuation for Icosavax, Inc. is approximately $3.1B (modeled range $308.5M–$7.4B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Icosavax, Inc. at?
Icosavax, Inc.'s latest modeled financing stage is Series C. Its most recent recorded round closed around Fri Mar 19.
What does Icosavax, Inc. do and where is it based?
Icosavax, Inc. operates in the Biotechnology sector, based in Seattle.
Explore related

See where Icosavax, 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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