Diligence memo · auto-generated · as of July 2, 2026
InCellDx, Inc.
InCellDx, Inc. looks under-valued against its niche peers and is quiet on financing cadence.
Businessfiled
InCellDx, Inc. operates in Biotechnology, based in Hayward.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
InCellDx, Inc. has raised $9.5M in disclosed capital across 3 recorded rounds, aggregated from public filings. Its latest round is modeled as Series A (a $4.0M–$15M round).
Largest single filing: $6.0M on 2012-04-27.
Most recent recorded round closed around 2024-07-16.
Valuation (modeled)modeled
Provath models InCellDx, Inc. at approximately $2.6M (range $545K–$5.5M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Under-valued. Modeled value is 0.06× the median modeled value of Series A Biotechnology companies in 2022–2024 (303 peers) — value vs value, same stage and era.
Financing rhythm & timingmixed
Historic cadence: a new round about every 85 months.
Last raise 24 mo ago; this sector typically re-raises about every 14 months.
Slightly overdue versus sector cadence.
The last round was 12.0× smaller than the prior — a bridge or down round.
Comparablesmixed
Capital scale ranks ahead of 55% of Biotechnology peers (4293 compared).
Modeled value ranks above 6% of those peers.
Closest niche peers: GeoVax Labs, Inc., Cellinfinity Bio Holding Company, LLC, Adient Medical, Inc., Entegrion Inc, BCD Bioscience, Inc..
Peoplefiled
10 named people on file across officers, directors and signatories.
Risks & flagsmixed
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.