Diligence memo · auto-generated · as of July 2, 2026
Item 9 Labs Corp.
Item 9 Labs Corp. looks fair against its niche peers and is dormant on financing cadence.
Businessfiled
Item 9 Labs Corp. operates in Pharmaceuticals, based in PHOENIX.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Item 9 Labs Corp. has raised $33M in disclosed capital across 4 recorded rounds, aggregated from public filings. Its latest round is modeled as Series B (a $15M–$40M round).
Largest single filing: $20M on 2018-07-01.
Most recent recorded round closed around 2020-11-13.
Valuation (modeled)modeled
Provath models Item 9 Labs Corp. at approximately $356M (range $25M–$1.3B). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Fair. Modeled value is 0.72× the median modeled value of Series B Pharmaceuticals companies in 2019–2021 (61 peers) — value vs value, same stage and era. Within the normal band (72% of peer median) for its niche.
Financing rhythm & timingmixed
Historic cadence: a new round about every 12 months.
Last raise 5.6 yr ago; this sector typically re-raises about every 13 months.
Silent for over 3× the sector's normal cadence.
The last round was 4.8× smaller than the prior — a bridge or down round.
Comparablesmixed
Capital scale ranks ahead of 75% of Pharmaceuticals peers (1613 compared).
Modeled value ranks above 77% of those peers.
Closest niche peers: Evolus, Inc., HOOKIPA Pharma Inc., ESSA Pharma Inc., Pieris Pharmaceuticals, Inc., Amylyx Pharmaceuticals, Inc..
Peoplefiled
16 named people on file across officers, directors and signatories.
Risks & flagsmixed
Financing has been silent well beyond sector cadence — possibly defunct, acquired, or paused.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.