Companies · Biotechnology

Ikena Oncology, Inc.

BOSTON · Biotechnology

Diligence memoA one-page analyst read on Ikena Oncology, Inc. — recommendation, valuation, rhythm, risks.
$117.6M
Total raised · real
2
Rounds
1.8×
Latest step-up
Top 9%
Sector rank · raised
Series C
Latest stage · inferred · Fri Jul 18 2025 00:00:00 GMT+0000 (Coordinated Universal Time)

Ikena Oncology, Inc. looks over-valued against its niche peers and is active 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 2.33× the median modeled value of Series C Biotechnology companies in 2025–2027 (58 peers) — value vs value, same stage and era.
Active
  • Last raise 11 mo ago; this sector typically re-raises about every 14 months.
  • Raising on or ahead of the sector's normal rhythm.
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

Ikena Oncology, Inc. is one of 4293 Biotechnology companies tracked from BOSTON. By capital raised it ranks among the largest (ahead of 92% 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.

pharma

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
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$250M$500M$750M$1.0BSeries C · 2023-08-04 Raised $43M (real) Modeled valuation $537M (est)$43M$537MSeries C2023Series C · 2025-07-18 Raised $75M (real) Modeled valuation $449M (est)$75M$449MSeries C2025+$75MCumulative $118M

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$42.6M · 2023
Series C extension$75.0M · 2025

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series A, Series B — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 20%.

Modeled valuation trajectory
$449.1M
Base estimate est.
$232.0M
Conservative case
$591.0M
Upside case
$500.0M
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 $537.0M · 2023-08-042023Series C · modeled $449.1M · 2025-07-182025
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
1.0 yr
Elapsed time used
1.0 yr actual, capped for stale marks
biotech
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
23 mo
Avg between rounds
$60.1M/yr
Capital velocity
2.9 yr
On record since
2023
First round
2
Rounds on file
How it compares to the market

Benchmarked against 4293 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) 16× above median
This company$117.6M
Sector median$7.2M
Latest round — vs other Series C rounds in sector (real $, this stage) 1.6× above median
This company$75.0M
Sector median$46.5M
Modeled value — vs sector median (estimate, all stages) 7.0× above median
This company$449.1M
Sector median$64.2M

Raised more than 92% of sector peers (real $). Modeled value above 82% 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 #7 of 58.

This companyCohort peer
$100.0M$1.0B$10.0M$100.0M$1.0BCapital raised (log)Newleos Therapeutics, Inc. · Series C Raised $93.4M · modeled $659.9M (est)Biolinq Inc · Series C Raised $247.4M · modeled $619.1M (est)Atsena Therapeutics, Inc. · Series C Raised $146.0M · modeled $606.4M (est)Galvanize Therapeutics, Inc. · Series C Raised $150.7M · modeled $582.3M (est)X4 Pharmaceuticals, Inc · Series C Raised $320.3M · modeled $495.3M (est)Endless Corp · Series C Raised $79.0M · modeled $494.3M (est)Imbria Pharmaceuticals, Inc. · Series C Raised $140.2M · modeled $406.0M (est)Bambusa Therapeutics, Inc. · Series C Raised $67.4M · modeled $375.4M (est)Plexium, Inc. · Series C Raised $60.1M · modeled $361.5M (est)Latigo Biotherapeutics, Inc. · Series C Raised $50.0M · modeled $357.9M (est)Neuros Medical, Inc. · Series C Raised $160.0M · modeled $338.5M (est)Ikena Oncology, Inc. (this company) Raised $117.6M · modeled $449.1M (est)Ikena Oncology, Inc.
CompanyStageRaised · realValue · estvs peer med.
Newleos Therapeutics, Inc.Series C$93.4M$659.9M3.43×
Biolinq IncSeries C$247.4M$619.1M3.22×
Atsena Therapeutics, Inc.Series C$146.0M$606.4M3.15×
Galvanize Therapeutics, Inc.Series C$150.7M$582.3M3.03×
X4 Pharmaceuticals, IncSeries C$320.3M$495.3M2.57×
Endless CorpSeries C$79.0M$494.3M2.57×
Ikena Oncology, Inc. this companySeries C$117.6M$449.1M2.33×
Imbria Pharmaceuticals, Inc.Series C$140.2M$406.0M2.11×
Bambusa Therapeutics, Inc.Series C$67.4M$375.4M1.95×
Plexium, Inc.Series C$60.1M$361.5M1.88×
Latigo Biotherapeutics, Inc.Series C$50.0M$357.9M1.86×
Neuros Medical, Inc.Series C$160.0M$338.5M1.76×
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$42.6M2023-08-04$283.8M$537.0M90%
Series C$75.0M2025-07-18$500.0M$449.1M90%
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$42.6M2023-08-04
    • First recorded raise — entered as Series C.
    • 48 investors on this round.
  2. Series C$75.0M2025-07-18
    • Raised again after 23 mo — slower than the ~14 mo sector norm.
    • Round 1.8× larger than the prior — scaling up.
Intelligence
2027 ~Q3
Modeled next raise · ~23mo cadence
$132.1M
Modeled next size est.range $85.9M$211.4M
1.8×
Last step-up
$60.1M/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
Jean-Francois Formela16 other2025-07
David Bonita5 other2023-08
Iain Dukes4 other2025-07
Otello Stampacchia3 other2025-07
Owen Hughes3 other2023-08
Jean-Francois D. Formela2 other2023-08
Iain D. Dukes2023-08
Jeffrey Ecsedy2023-08
Jotin Marango2023-08
Maria D. Koehler2023-08
Maria Koehler2025-07
Mark Manfredi2023-08
Michelle Zhang2023-08
Otello D. Stampacchia2023-08
Richard D. Wooster2023-08
Richard Wooster2025-07
Sergio Santillana2023-08
Registry & provenance

Ikena Oncology, 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
1835579
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
Translate Bio, Inc.BiotechnologySeries C$98.5M$1.9Bnetwork2 shared operators · same sector · same stage
Prelude Therapeutics IncBiotechnologySeries C$115.0M$1.9Bnetwork1 shared operator · same sector · same stage
Adela, Inc.BiotechnologySeries C$108.5M$156.3Mnetwork1 shared operator · same sector · same stage
Enobia Pharma CorpBiotechnologySeries C$100.0M$819.2Mnetwork1 shared operator · same sector · same stage
Spero Therapeutics, Inc.BiotechnologySeries C$92.2M$150.5Mnetwork1 shared operator · same sector · same stage
Scorpion Therapeutics, Inc.BiotechnologySeries D+$297.4M$1.4Bnetwork2 shared operators · same sector
Third Arc Bio, Inc.BiotechnologySeries C$72.5M$636.7Mnetwork1 shared operator · same sector · same stage
Intellia Therapeutics, Inc.BiotechnologySeries C$70.0M$2.9Bnetwork1 shared operator · same 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
Haystack Oncology, Inc.BiotechnologySeries C$1.1B84%
Irazu Oncology, LLCBiotechnologySeed$17.5M83%
Kura Oncology, Inc.BiotechnologySeries D+$1.9B82%
Aktis Oncology, Inc.BiotechnologySeries D+$1.8B82%
Gibson Oncology, LLCBiotechnologySeed$690K82%
Istari Oncology, Inc.BiotechnologySeries C$1.4B82%
Orna Therapeutics Holdings, LLCBiotechnologySeries D+$2.5B82%
Oncternal Therapeutics, Inc.BiotechnologySeries C$222.9M81%
Frequently asked
How much funding has Ikena Oncology, Inc. raised?
Ikena Oncology, Inc. has raised approximately $117.6M in disclosed capital across 2 recorded financing rounds, aggregated from public filings.
What is Ikena Oncology, Inc.'s estimated valuation?
Provath's modeled valuation for Ikena Oncology, Inc. is approximately $449.1M (modeled range $232.0M–$591.0M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Ikena Oncology, Inc. at?
Ikena Oncology, Inc.'s latest modeled financing stage is Series C. Its most recent recorded round closed around Fri Jul 18.
What does Ikena Oncology, Inc. do and where is it based?
Ikena Oncology, Inc. operates in the Biotechnology sector, based in BOSTON.
Explore related

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

Is this your company?

If you work at Ikena Oncology, Inc., claim this profile or suggest a correction. We aggregate from public filings, so help us keep your description, website and links accurate.

Is this your company? Update your profile or add contact details — and choose exactly who can reach you. Reviewed before anything is published.