Diligence memo · auto-generated · as of July 2, 2026
Kernal Biologics, Inc.
Kernal Biologics, Inc. looks over-valued against its niche peers and is dormant on financing cadence.
Businessfiled
Kernal Biologics, Inc. operates in Biotechnology, based in CAMBRIDGE, MA, USA. Kernal is creating mRNA 2.0 therapies that work in specific cells
Sub-sector tags: Artificial Intelligence, Biotech, Genomics, biotech, pharma.
Capital & rounds (filed)filed
Kernal Biologics, Inc. has raised $21M in disclosed capital across 3 recorded rounds, aggregated from public filings. Its latest round is modeled as Series B (a $15M–$40M round).
Largest single filing: $20M on 2022-02-10.
Most recent recorded round closed around 2022-02-10.
Valuation (modeled)modeled
Provath models Kernal Biologics, Inc. at approximately $399M (range $40M–$1.1B). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Over-valued. Modeled value is 2.38× the median modeled value of Series B Biotechnology companies in 2022–2024 (197 peers) — value vs value, same stage and era.
Financing rhythm & timingmixed
Historic cadence: a new round about every 33 months.
Last raise 4.4 yr ago; this sector typically re-raises about every 14 months.
Silent for over 3× the sector's normal cadence.
The last round stepped up 40.2× from the prior — scaling.
Comparablesmixed
Capital scale ranks ahead of 68% of Biotechnology peers (4293 compared).
Modeled value ranks above 81% of those peers.
Closest niche peers: Mt McKinley Medical Holding Corp USA, YAP Therapeutics Inc, Pinteon Therapeutics, Inc., OncXerna Therapeutics, Ltd., EpiBiologics, Inc..
Peoplefiled
5 named people on file across officers, directors and signatories.
Risks & flagsmixed
Financing has been silent well beyond sector cadence — possibly defunct, acquired, or paused.
Modeled above niche peers — valuation risk on entry.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.