Companies · Biotechnology

Immunocore Holdings plc

Abingdon, Oxfordshire · Biotechnology

Diligence memoA one-page analyst read on Immunocore Holdings plc — recommendation, valuation, rhythm, risks.
$140.0M
Total raised · real
1
Rounds
Latest step-up
Top 7%
Sector rank · raised
Series D+
Latest stage · inferred · Wed Jul 20 2022 00:00:00 GMT+0000 (Coordinated Universal Time)

Immunocore Holdings plc looks fair 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.

Fair
  • Modeled value is 1.46× the median modeled value of Series D+ Biotechnology companies in 2022–2024 (75 peers) — value vs value, same stage and era.
  • Within the normal band (146% of peer median) for its niche.
Dormant
  • Last raise 4.0 yr ago; this sector typically re-raises about every 14 months.
  • Only one round on record and long silent — often defunct, acquired, or gone quiet.

Procedural diagnosis est. — rule-based common-sense checks over the filing pattern, issuer name, activity cadence, and surfaced operating evidence.

Issuer-vehicle patternmedium confidence

Immunocore Holdings plc behaves more like a recurring private-offering issuer than a conventional venture-backed operating company.

Issuer structure
Company-like
No recurring-offering pattern strong enough to override normal financing interpretation.
Lifecycle
4.0 yr record
Peak capital year was 2022 with $140.0M across 1 filings.
Market position
ahead of 94% of Biotechnology peers
Capital scale is ahead of 94% of Biotechnology peers; modeled value is above 97% of peers by modeled value. Large capital with mid-pack modeled value can signal an issuer/program profile rather than operating-company growth.
Valuation reliability
Normal applicability
Stage/dilution valuation models are weakest when the issuer is broad-sector, recurring, or vehicle-like.
Operating evidence
Sparse
No clear CEO/founder/principal role is surfaced, so operating-company confidence is lower.
Data quality
Consistent
Canonical totals and visible filing detail are broadly aligned.
What triggered this
  • Legal name looks like an issuer vehicle rather than a product company.
  • No clearly named CEO/founder/principal role in the public records surfaced here.
  • No verified homepage on the profile yet.
  • Capital program peaked in 2022: $140.0M across 1 filings.
  • Largest single filing was $140.0M on 2022-07-20.
How to read the page
  • Read this less like a startup funding journey and more like a capital-raising program.
  • Stage-based valuation and peer labels have lower applicability for this pattern.
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

Immunocore Holdings plc is one of 4293 Biotechnology companies tracked from Abingdon, Oxfordshire. By capital raised it ranks among the largest (ahead of 94% 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
8
Investors (latest)
2021
Year incorporated
2022-07-20
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 D+ · 2022-07-20 Raised $140M (real) Modeled valuation $2.9B (est)$140M$2.9BSeries D+2022

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 D+$140.0M · 2022

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series A, Series B, Series C — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 17%.

Modeled valuation trajectory
$2.9B
Base estimate est.
$634.7M
Conservative case
$5.1B
Upside case
$1.2B
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series D+a $100M–$400M round). Valuation is modeled from stage benchmarks scaled by the biotech sector profile. Directional, not a quoted figure.

Not enough modeled valuation points to chart a trajectory.

Model inputs · modeled:benchmark-stage-stepup-v1
12%
Dilution assumption
Implied ownership sold in the financing.
68%
Survival probability
54% low · 75% high
1.39×/yr
Annual markup
1.56×/yr upside case
4.0 yr
Elapsed time used
4.0 yr actual, capped for stale marks
biotech
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
Avg between rounds
Capital velocity
4.0 yr
On record since
2022
First round
1
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) 19× above median
This company$140.0M
Sector median$7.2M
Latest round — vs other Series D+ rounds in sector (real $, this stage) 1.2× above median
This company$140.0M
Sector median$120.0M
Modeled value — vs sector median (estimate, all stages) 46× above median
This company$2.9B
Sector median$64.2M

Raised more than 94% 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 D+) 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 #15 of 75.

This companyCohort peer
$1.0B$10.0B$100.0M$1.0BCapital raised (log)Areteia Therapeutics, Inc. · Series D+ Raised $360.0M · modeled $7.8B (est)GIO World Health Ltd · Series D+ Raised $300.0M · modeled $7.4B (est)Crinetics Pharmaceuticals, Inc. · Series D+ Raised $428.0M · modeled $4.3B (est)2seventy bio, Inc. · Series D+ Raised $170.0M · modeled $4.0B (est)Gio World Health (Europe) Sa · Series D+ Raised $150.0M · modeled $3.7B (est)GIO World Health (Europe) Ltd · Series D+ Raised $150.0M · modeled $3.7B (est)Arsenal Biosciences, Inc. · Series D+ Raised $579.2M · modeled $3.5B (est)ImmPACT Bio USA Inc. · Series D+ Raised $143.6M · modeled $3.5B (est)BioNTech SE · Series D+ Raised $400.0M · modeled $3.4B (est)RayzeBio, Inc. · Series D+ Raised $396.4M · modeled $3.4B (est)Genesis Therapeutics, Inc. · Series D+ Raised $297.4M · modeled $3.3B (est)Legend Biotech Corp · Series D+ Raised $350.5M · modeled $3.3B (est)Immunocore Holdings plc (this company) Raised $140.0M · modeled $2.9B (est)Immunocore Holdings plc
CompanyStageRaised · realValue · estvs peer med.
Areteia Therapeutics, Inc.Series D+$360.0M$7.8B3.87×
GIO World Health LtdSeries D+$300.0M$7.4B3.67×
Crinetics Pharmaceuticals, Inc.Series D+$428.0M$4.3B2.13×
2seventy bio, Inc.Series D+$170.0M$4.0B1.98×
Gio World Health (Europe) SaSeries D+$150.0M$3.7B1.84×
GIO World Health (Europe) LtdSeries D+$150.0M$3.7B1.84×
Arsenal Biosciences, Inc.Series D+$579.2M$3.5B1.76×
ImmPACT Bio USA Inc.Series D+$143.6M$3.5B1.72×
BioNTech SESeries D+$400.0M$3.4B1.71×
RayzeBio, Inc.Series D+$396.4M$3.4B1.69×
Genesis Therapeutics, Inc.Series D+$297.4M$3.3B1.64×
Legend Biotech CorpSeries D+$350.5M$3.3B1.63×
Immunocore Holdings plc this companySeries D+$140.0M$2.9B1.46×
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 D+$140.0M2022-07-20$1.2B$2.9B90%
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 D+$140.0M2022-07-20
    • First recorded raise — entered as Series D+.
    • 8 investors on this round.
Intelligence
Modeled next raise
$224.0M
Modeled next size est.range $145.6M$358.4M
Last step-up
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
David Berman7 other2022-07
John Bell4 other2022-07
Bahija Jallal2 other2022-07
Kristine Peterson2 other2022-07
Robert Perez2 other2022-07
Travis Coy1 other2022-07
Brian Di Donato2022-07
Peter Ratcliffe2022-07
Roy Herbst2022-07
Siddharth Kaul2022-07
Tina St. Leger2022-07
Registry & provenance

Immunocore Holdings plc 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
1671927
SEC CIK
2021
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
ArriVent Biopharma, Inc.BiotechnologySeries D+$260.0M$2.0Bnetwork1 shared operator · same sector · same stage
Vir Biotechnology, Inc.BiotechnologySeries D+$348.4M$1.3Bnetwork1 shared operator · same sector · same stage
Caribou Biosciences, Inc.BiotechnologySeries D+$141.0M$3.8Bsame sector · same stage
Veronica Holdings, LLCBiotechnologySeries D+$142.3M$1.5Bsame sector · same stage
Akouos, Inc.BiotechnologySeries D+$137.7M$4.3Bsame sector · same stage
CinCor Pharma, Inc.BiotechnologySeries D+$142.9M$3.9Bsame sector · same stage
ImmPACT Bio USA Inc.BiotechnologySeries D+$143.6M$3.5Bsame sector · same stage
Bloem Life Enterprise, Inc.BiotechnologySeries D+$145.0M$3.9Bsame 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
Immunaeon Inc.BiotechnologyPre-Seed$2.7M89%
Immunic, Inc.BiotechnologySeries D+$1.3B89%
Immunis, Inc.BiotechnologySeries B$147.9M88%
Immunome Inc.BiotechnologySeries B$752.8M87%
Immunoprofile, LlcBiotechnologySeed$675K86%
ImmunoGenesis, Inc.BiotechnologySeries C$43.0M86%
Biosceptre International LtdBiotechnologyPre-Seed$13.1M86%
Illexcor Holdings, LLCBiotechnologyPre-Seed$3.0M85%
Frequently asked
How much funding has Immunocore Holdings plc raised?
Immunocore Holdings plc has raised approximately $140.0M in disclosed capital across 1 recorded financing round, aggregated from public filings.
What is Immunocore Holdings plc's estimated valuation?
Provath's modeled valuation for Immunocore Holdings plc is approximately $2.9B (modeled range $634.7M–$5.1B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Immunocore Holdings plc at?
Immunocore Holdings plc's latest modeled financing stage is Series D+. Its most recent recorded round closed around Wed Jul 20.
What does Immunocore Holdings plc do and where is it based?
Immunocore Holdings plc operates in the Biotechnology sector, based in Abingdon, Oxfordshire.
Explore related

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

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