Companies · Biotechnology

Liquidia Technologies Inc

MORRISVILLE · Biotechnology

Diligence memoA one-page analyst read on Liquidia Technologies Inc — recommendation, valuation, rhythm, risks.
$86.7M
Total raised · real
4
Rounds
0.9×
Latest step-up
Top 12%
Sector rank · raised
Series B
Latest stage · inferred · Mon Dec 23 2019 00:00:00 GMT+0000 (Coordinated Universal Time)

Liquidia Technologies Inc 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 1.45× the median modeled value of Series B Biotechnology companies in 2019–2021 (118 peers) — value vs value, same stage and era.
  • Within the normal band (145% of peer median) for its niche.
Dormant
  • Last raise 6.5 yr ago; this sector typically re-raises about every 14 months.
  • Silent for over 3× the sector's normal cadence.
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

Liquidia Technologies Inc is one of 4293 Biotechnology companies tracked from MORRISVILLE. By capital raised it ranks in the upper tier (ahead of 89% of sector peers), and in the upper tier 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)
2019-12-23
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$500M$1.0B$1.5B$2.0BSeries B · 2009-07-01 Raised $25M (real) Modeled valuation $992M (est)Series B2009Series A · 2009-07-01 Raised $7.0M (real) Modeled valuation $254M (est)Series A2009Series B · 2009-07-01 Raised $20M (real) Modeled valuation $794M (est)Series B2009Series B · 2011-02-18 Raised $14M (real) Modeled valuation $548M (est)Series B2011Series A · 2011-02-18 Raised $10M (real) Modeled valuation $362M (est)Series A2011Series B · 2018-02-02 Raised $26M (real) Modeled valuation $1.0B (est)Series B2018Series B · 2019-12-23 Raised $22M (real) Modeled valuation $890M (est)Series B2019+$7.0M+$20M+$14M+$10M+$26M+$22MCumulative $124M

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 B$25.0M · 2009
Bridge · Series B-stage$7.0M · 2009smaller follow-on
Series B extension$20.0M · 2009
Series B extension$13.8M · 2011
Bridge · Series B-stage$10.0M · 2011smaller follow-on
Series B extension$25.5M · 2018
Series B extension$22.4M · 2019

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 50%.

Modeled valuation trajectory
$890.0M
Base estimate est.
$44.8M
Conservative case
$3.4B
Upside case
$124.6M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Ba $15M–$40M round). Valuation is modeled from stage benchmarks scaled by the biotech sector profile. Directional, not a quoted figure.

Series B · modeled $992.2M · 2009-07-012009Series A · modeled $254.2M · 2009-07-01Series B · modeled $793.8M · 2009-07-01Series B · modeled $547.7M · 2011-02-18Series A · modeled $361.5M · 2011-02-18Series B · modeled $1.0B · 2018-02-02Series B · modeled $890.0M · 2019-12-232019
Model inputs · modeled:benchmark-stage-stepup-v1
18%
Dilution assumption
Implied ownership sold in the financing.
54%
Survival probability
36% low · 66% high
1.54×/yr
Annual markup
1.86×/yr upside case
6.0 yr
Elapsed time used
6.5 yr actual, capped for stale marks
biotech
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
21 mo
Avg between rounds
$8.3M/yr
Capital velocity
17.0 yr
On record since
2009
First round
7
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) 12× above median
This company$86.7M
Sector median$7.2M
Latest round — vs other Series B rounds in sector (real $, this stage) 1.3× above median
This company$22.4M
Sector median$17.5M
Modeled value — vs sector median (estimate, all stages) 14× above median
This company$890.0M
Sector median$64.2M

Raised more than 89% of sector peers (real $). Modeled value above 88% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series B) 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 #23 of 118.

This companyCohort peer
$100.0M$1.0B$10.0B$10.0M$100.0M$1.0BCapital raised (log)Pandion Therapeutics Holdco LLC · Series B Raised $40.0M · modeled $1.6B (est)Ocular Therapeutix, Inc · Series B Raised $81.0M · modeled $1.5B (est)Insilico Medicine Cayman TopCo · Series B Raised $36.8M · modeled $1.5B (est)Purigen Biosystems, Inc. · Series B Raised $61.9M · modeled $1.4B (est)Lucira Health, Inc. · Series B Raised $32.5M · modeled $1.3B (est)Peptilogics, Inc. · Series B Raised $40.9M · modeled $1.2B (est)Nanotech Energy, Inc. · Series B Raised $31.6M · modeled $1.1B (est)Windtree Therapeutics Inc /De/ · Series B Raised $104.5M · modeled $1.0B (est)Liminal BioSciences Inc. · Series B Raised $67.1M · modeled $1.0B (est)Palladio Biosciences, Inc. · Series B Raised $28.0M · modeled $1.0B (est)Faze Medicines, Inc. · Series B Raised $30.4M · modeled $999.5M (est)Inivata Ltd · Series B Raised $25.0M · modeled $992.2M (est)Liquidia Technologies Inc (this company) Raised $86.7M · modeled $890.0M (est)Liquidia Technologies Inc
CompanyStageRaised · realValue · estvs peer med.
Pandion Therapeutics Holdco LLCSeries B$40.0M$1.6B2.58×
Ocular Therapeutix, IncSeries B$81.0M$1.5B2.42×
Insilico Medicine Cayman TopCoSeries B$36.8M$1.5B2.37×
Purigen Biosystems, Inc.Series B$61.9M$1.4B2.22×
Lucira Health, Inc.Series B$32.5M$1.3B2.10×
Peptilogics, Inc.Series B$40.9M$1.2B1.90×
Nanotech Energy, Inc.Series B$31.6M$1.1B1.82×
Windtree Therapeutics Inc /De/Series B$104.5M$1.0B1.70×
Liminal BioSciences Inc.Series B$67.1M$1.0B1.67×
Palladio Biosciences, Inc.Series B$28.0M$1.0B1.63×
Faze Medicines, Inc.Series B$30.4M$999.5M1.62×
Inivata LtdSeries B$25.0M$992.2M1.61×
Liquidia Technologies Inc this companySeries B$86.7M$890.0M1.45×
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 B$25.0M2009-07-01$138.9M$992.2M85%
Series A$7.0M2009-07-01$32.0M$254.2M85%
Series B$20.0M2009-07-01$111.1M$793.8M85%
Series B$13.8M2011-02-18$76.7M$547.7M85%
Series A$10.0M2011-02-18$45.5M$361.5M85%
Series B$25.5M2018-02-02$141.7M$1.0B90%
Series B$22.4M2019-12-23$124.6M$890.0M90%
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 B$25.0M2009-07-01
    • First recorded raise — entered as Series B.
    • 11 investors on this round.
  2. Series A$7.0M2009-07-01
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 3.6× smaller than the prior — bridge or down round.
    • 5 investors on this round.
  3. Series B$20.0M2009-07-01
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 2.8× larger than the prior — scaling up.
    • 10 investors on this round.
  4. Series B$13.8M2011-02-18
    • Raised 20 mo later, in step with the ~14 mo sector norm.
    • Round 1.4× smaller than the prior — bridge or down round.
    • 2 investors on this round.
  5. Series A$10.0M2011-02-18
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.4× smaller than the prior — bridge or down round.
    • 1 investor on this round.
  6. Series B$25.5M2018-02-02
    • Raised again after 83 mo — slower than the ~14 mo sector norm.
    • Round 2.5× larger than the prior — scaling up.
    • Switched to Rule 506(b) (was Rule 06).
    • 7 investors on this round.
  7. Series B$22.4M2019-12-23
    • Raised again after 23 mo — slower than the ~14 mo sector norm.
    • Round roughly the size of the prior one.
    • 8 investors on this round.
Intelligence
2021 ~Q3
Modeled next raise · ~21mo cadence
$22.4M
Modeled next size est.range $22.4M$35.9M
0.9×
Last step-up
$8.3M/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
Stephen Bloch14 other2009-07
Ed Mathers10 other2009-07
Isaac Cheng8 other2011-02
Joseph DeSimone4 other2009-07
Seth Rudnick4 other2009-07
Neal Fowler3 other2011-02
Ralph Snyderman3 other2009-07
Steve Nelson3 other2009-07
Seth A. Rudnick2 other2018-02
Arthur A. Kirsch1 other2019-12
Arthur S. Kirsch1 other2018-02
Neal F Fowler1 other2009-07
Ralph S. Snyderman1 other2018-02
RICHARD D KATZ1 other2019-12
BENJAMIN D MAYNOR2019-12
Benjamin F. Maynor2018-02
Bruce Boucher2009-07
Ed F Mathers2009-07
Edward S. Mathers2018-02
FLORINA D GORDON-KRAWCHICK2019-12
Isaac A. Cheng2018-02
Isaac F Cheng2009-07
Jason S. Rushton2018-02
JERI D THOMAS2019-12
Registry & provenance

Liquidia Technologies 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
1330436
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
Envisia Therapeutics, Inc.BiotechnologySeries A$14.7M$365.8Mnetwork4 shared operators · same sector
Liquidia CorpBiotechnologySeries B$21.7M$616.9Mnetwork2 shared operators · same sector · same stage
EvolveImmune Therapeutics Holding Company, LLCBiotechnologySeries B$85.8M$124.9Mnetwork1 shared operator · same sector · same stage
Vaxinnate CorpBiotechnologySeries B$92.6M$128.9Mnetwork1 shared operator · same sector · same stage
Senti Biosciences, Inc.BiotechnologySeries B$77.0M$222.0Mnetwork1 shared operator · same sector · same stage
Iantrek, Inc.BiotechnologySeries B$58.2M$152.4Mnetwork1 shared operator · same sector · same stage
Bioscale IncBiotechnologySeries B$44.7M$747.7Mnetwork1 shared operator · same sector · same stage
XDx, Inc.BiotechnologySeries B$44.5M$879.9Mnetwork1 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
Liquidia CorpBiotechnologySeries B$616.9M99%
Liquid BioScience, Inc.BiotechnologySeries B$1.6B91%
Liquid Genomics, Inc.BiotechnologySeed$72.3M89%
BioCardia, Inc.BiotechnologySeries B$158.8M87%
Biomimetics Innovations LtdBiotechnologyPre-Seed$799K86%
PierianDx, Inc.BiotechnologySeries B$443.4M86%
Portal Biotechnologies, Inc.BiotechnologySeries A$49.5M86%
MetaBiotech CorpBiotechnologySeries A$331.8M85%
Frequently asked
How much funding has Liquidia Technologies Inc raised?
Liquidia Technologies Inc has raised approximately $86.7M in disclosed capital across 4 recorded financing rounds, aggregated from public filings.
What is Liquidia Technologies Inc's estimated valuation?
Provath's modeled valuation for Liquidia Technologies Inc is approximately $890.0M (modeled range $44.8M–$3.4B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Liquidia Technologies Inc at?
Liquidia Technologies Inc's latest modeled financing stage is Series B. Its most recent recorded round closed around Mon Dec 23.
What does Liquidia Technologies Inc do and where is it based?
Liquidia Technologies Inc operates in the Biotechnology sector, based in MORRISVILLE.
Explore related

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

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