Companies · Biotechnology

KALA BIO, Inc.

ARLINGTON · Biotechnology

Diligence memoA one-page analyst read on KALA BIO, Inc. — recommendation, valuation, rhythm, risks.
$158.8M
Total raised · real
12
Rounds
0.8×
Latest step-up
Top 6%
Sector rank · raised
Series C
Latest stage · inferred · Tue Mar 03 2026 00:00:00 GMT+0000 (Coordinated Universal Time)

KALA BIO, Inc. looks under-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.

Under-valued
  • Modeled value is 0.04× the median modeled value of Series C Biotechnology companies in 2025–2027 (58 peers) — value vs value, same stage and era.
Active
  • Last raise 4 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

KALA BIO, Inc. is one of 4293 Biotechnology companies tracked from ARLINGTON. By capital raised it ranks among the largest (ahead of 95% of sector peers), and in the long tail 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
1
Investors (latest)
2026-03-03
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$5.0BSeed · 2009-12-11 Raised $2.0M (real) Modeled valuation $89M (est)Seed2009Seed · 2010-10-26 Raised $3.0M (real) Modeled valuation $133M (est)Seed2010Series A · 2012-02-29 Raised $7.2M (real) Modeled valuation $262M (est)Series A2012Series A · 2013-02-14 Raised $5.8M (real) Modeled valuation $208M (est)Series A2013Series B · 2014-04-16 Raised $23M (real) Modeled valuation $893M (est)Series B2014Series B · 2015-08-17 Raised $7.0M (real) Modeled valuation $278M (est)Series B2015Series C · 2016-04-06 Raised $68M (real) Modeled valuation $2.8B (est)Series C2016Series C · 2021-11-15 Raised $16M (real) Modeled valuation $391M (est)Series C2021Series C · 2024-06-28 Raised $12M (real) Modeled valuation $112M (est)Series C2024Series C · 2024-12-31 Raised $11M (real) Modeled valuation $79M (est)Series C2024Series C · 2026-01-30 Raised $2.3M (real) Modeled valuation $11M (est)Series C2026Series C · 2026-03-03 Raised $1.8M (real) Modeled valuation $8.3M (est)Series C2026Cumulative $159M

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
Seed$2.0M · 2009
Seed extension$3.0M · 2010
Series A$7.2M · 2012
Series A extension$5.8M · 2013
Series B$22.5M · 2014
Series B extension$7.0M · 2015
Series C$67.9M · 2016
Series C extension$16.1M · 2021
Series C extension$12.5M · 2024
Series C extension$10.7M · 2024
Series C extension$2.3M · 2026
Series C extension$1.8M · 2026

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 80%.

Modeled valuation trajectory
$8.3M
Base estimate est.
$5.4M
Conservative case
$10.0M
Upside case
$11.7M
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.

Seed · modeled $88.8M · 2009-12-112009Seed · modeled $133.2M · 2010-10-26Series A · modeled $261.8M · 2012-02-29Series A · modeled $207.9M · 2013-02-14Series B · modeled $893.0M · 2014-04-16Series B · modeled $277.8M · 2015-08-17Series C · modeled $2.8B · 2016-04-06Series C · modeled $391.3M · 2021-11-15Series C · modeled $111.9M · 2024-06-28Series C · modeled $79.2M · 2024-12-31Series C · modeled $11.0M · 2026-01-30Series C · modeled $8.3M · 2026-03-032026
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
0.3 yr
Elapsed time used
0.3 yr actual, capped for stale marks
biotech
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
18 mo
Avg between rounds
$9.8M/yr
Capital velocity
16.6 yr
On record since
2009
First round
12
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) 22× above median
This company$158.8M
Sector median$7.2M
Latest round — vs other Series C rounds in sector (real $, this stage) 0.0× of median
This company$1.8M
Sector median$46.5M
Modeled value — vs sector median (estimate, all stages) 0.1× of median
This company$8.3M
Sector median$64.2M

Raised more than 95% of sector peers (real $). Modeled value above 16% 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 #58 of 58.

This companyCohort peer
$1.0M$10.0M$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)Ikena Oncology, Inc. · Series C Raised $117.6M · modeled $449.1M (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)KALA BIO, Inc. (this company) Raised $158.8M · modeled $8.3M (est)KALA BIO, 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.Series 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×
KALA BIO, Inc. this companySeries C$158.8M$8.3M0.04×
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.
Seed$2.0M2009-12-11$10.0M$88.8M85%
Seed$3.0M2010-10-26$15.0M$133.2M85%
Series A$7.2M2012-02-29$32.9M$261.8M85%
Series A$5.8M2013-02-14$26.1M$207.9M85%
Series B$22.5M2014-04-16$125.0M$893.0M85%
Series B$7.0M2015-08-17$38.9M$277.8M85%
Series C$67.9M2016-04-06$452.8M$2.8B85%
Series C$16.1M2021-11-15$107.5M$391.3M90%
Series C$12.5M2024-06-28$83.3M$111.9M90%
Series C$10.7M2024-12-31$71.7M$79.2M90%
Series C$2.3M2026-01-30$15.0M$11.0M90%
Series C$1.8M2026-03-03$11.7M$8.3M90%
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. Seed$2.0M2009-12-11
    • First recorded raise — entered as Seed.
    • 10 investors on this round.
  2. Seed$3.0M2010-10-26
    • Raised 10 mo later, in step with the ~14 mo sector norm.
    • Round 1.5× larger than the prior — scaling up.
    • 9 investors on this round.
  3. Series A$7.2M2012-02-29
    • Raised 16 mo later, in step with the ~14 mo sector norm.
    • Round 2.4× larger than the prior — scaling up.
    • 10 investors on this round.
  4. Series A$5.8M2013-02-14
    • Raised 12 mo later, in step with the ~14 mo sector norm.
    • Round roughly the size of the prior one.
    • 10 investors on this round.
  5. Series B$22.5M2014-04-16
    • Raised 14 mo later, in step with the ~14 mo sector norm.
    • Round 3.9× larger than the prior — scaling up.
    • Switched to Rule 506(b) (was Rule 06).
    • 16 investors on this round.
  6. Series B$7.0M2015-08-17
    • Raised 16 mo later, in step with the ~14 mo sector norm.
    • Round 3.2× smaller than the prior — bridge or down round.
    • 1 investor on this round.
  7. Series C$67.9M2016-04-06
    • Came back fast: 8 mo vs the ~14 mo sector norm.
    • Round 9.7× larger than the prior — scaling up.
    • 25 investors on this round.
  8. Series C$16.1M2021-11-15
    • Raised again after 67 mo — slower than the ~14 mo sector norm.
    • Round 4.2× smaller than the prior — bridge or down round.
    • 26 investors on this round.
  9. Series C$12.5M2024-06-28
    • Raised again after 31 mo — slower than the ~14 mo sector norm.
    • Round roughly the size of the prior one.
    • 5 investors on this round.
  10. Series C$10.7M2024-12-31
    • Came back fast: 6 mo vs the ~14 mo sector norm.
    • Round roughly the size of the prior one.
    • 6 investors on this round.
  11. Series C$2.3M2026-01-30
    • Raised 13 mo later, in step with the ~14 mo sector norm.
    • Round 4.8× smaller than the prior — bridge or down round.
    • 20 investors on this round.
  12. Series C$1.8M2026-03-03
    • Came back fast: 1 mo vs the ~14 mo sector norm.
    • Round roughly the size of the prior one.
    • 1 investor on this round.
Intelligence
2027 ~Q3
Modeled next raise · ~18mo cadence
$1.8M
Modeled next size est.range $1.8M$2.8M
0.8×
Last step-up
$9.8M/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
Robert Langer35 other2009-12
Kevin Bitterman14 other2010-10
Robert Tepper6 other2010-10
DAVID LAZAR4 other2026-01
Andrea Franz3 other2013-02
Andrew I. Koven3 other2024-06
Brendan Purdy3 other2026-01
Eric L. Trachtenberg3 other2021-11
Howard B. Rosen3 other2014-04
Mark Iwicki3 other2015-08
PETER COUROSSI3 other2012-02
ROBERT PAULL3 other2009-12
Greg Grunberg2 other2016-04
Gregory D. Perry2 other2021-11
JUSTIN HANES2 other2009-12
Andrew L. Koven1 other2021-11
Bernard Gilly1 other2013-02
C. Daniel Myers1 other2021-11
Karen Wagner1 other2015-08
Mark S. Blumenkranz1 other2021-11
Avi Minkowitz2026-01
Chaim Berger2026-01
Charles B. McDermott2015-08
Chen B. Yu2016-04
Registry & provenance

KALA BIO, 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
1479419
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
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Graybug Vision, Inc.BiotechnologySeries C$144.8M$132.6Mnetwork1 shared operator · same sector · same stage
Dare Bioscience, Inc.BiotechnologySeries B$102.0M$93.8Mnetwork2 shared operators · same sector
bluebird bio, Inc.BiotechnologySeries C$187.5M$1.9Bnetwork1 shared operator · same sector · same stage
NeuroBo Pharmaceuticals, Inc.BiotechnologySeries B$93.9M$49.5Mnetwork2 shared operators · same sector
Morphic Holding, Inc.BiotechnologySeries C$200.6M$1.5Bnetwork1 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
Azure Health Technology LtdBiotechnologyPre-Seed$19.5M88%
Shoreline Biosciences, Inc.BiotechnologySeries D+$3.7B87%
Jupiter Biomedical Research, Inc.BiotechnologyPre-Seed$844K86%
Orionis Biosciences LLCBiotechnologySeries B$782.6M86%
Pyramid Biosciences, Inc.BiotechnologySeries B$778.5M85%
Azure Biotech, Inc.BiotechnologySeed$52.4M85%
Akonni Biosystems IncBiotechnologySeries A$64.2M85%
Magnus Medical, Inc.BiotechnologySeries C$153.8M85%
Frequently asked
How much funding has KALA BIO, Inc. raised?
KALA BIO, Inc. has raised approximately $158.8M in disclosed capital across 12 recorded financing rounds, aggregated from public filings.
What is KALA BIO, Inc.'s estimated valuation?
Provath's modeled valuation for KALA BIO, Inc. is approximately $8.3M (modeled range $5.4M–$10.0M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is KALA BIO, Inc. at?
KALA BIO, Inc.'s latest modeled financing stage is Series C. Its most recent recorded round closed around Tue Mar 03.
What does KALA BIO, Inc. do and where is it based?
KALA BIO, Inc. operates in the Biotechnology sector, based in ARLINGTON.
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