Companies · Biotechnology

Lycia Therapeutics, Inc.New on the radar

SOUTH SAN FRANCISCO · Biotechnology

Diligence memoA one-page analyst read on Lycia Therapeutics, Inc. — recommendation, valuation, rhythm, risks.
$75.0M
Total raised · real
1
Rounds
Latest step-up
Top 14%
Sector rank · raised
Series C
Latest stage · inferred · Thu Jun 25 2026 00:00:00 GMT+0000 (Coordinated Universal Time)

Lycia Therapeutics, Inc. looks over-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.

Over-valued
  • Modeled value is 1.63× the median modeled value of Series C Biotechnology companies in 2025–2027 (58 peers) — value vs value, same stage and era.
Active
  • Last raise under a month 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.

6 Board seats1 Officer+7 more named people

Explore how these operators interlock with other companies in the operator network.

Where it sits in Biotechnology

Lycia Therapeutics, Inc. is one of 4293 Biotechnology companies tracked from SOUTH SAN FRANCISCO. By capital raised it ranks in the upper tier (ahead of 87% 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
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$125M$250M$375M$500MSeries C · 2026-06-25 Raised $75M (real) Modeled valuation $314M (est)$75M$314MSeries C2026

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 C$75.0M · 2026

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series A, Series B — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 20%.

Modeled valuation trajectory
$314.3M
Base estimate est.
$232.0M
Conservative case
$363.6M
Upside case
$500.0M
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.

Not enough modeled valuation points to chart a trajectory.

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
0.0 yr
Elapsed time used
0.0 yr actual, capped for stale marks
biotech
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
Avg between rounds
Capital velocity
0.0 yr
On record since
2026
First round
New
First-time filer
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) 10× above median
This company$75.0M
Sector median$7.2M
Latest round — vs other Series C rounds in sector (real $, this stage) 1.6× above median
This company$75.0M
Sector median$46.5M
Modeled value — vs sector median (estimate, all stages) 4.9× above median
This company$314.3M
Sector median$64.2M

Raised more than 87% of sector peers (real $). Modeled value above 77% 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 #16 of 58.

This companyCohort peer
$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)Lycia Therapeutics, Inc. (this company) Raised $75.0M · modeled $314.3M (est)Lycia Therapeutics, 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×
Lycia Therapeutics, Inc. this companySeries C$75.0M$314.3M1.63×
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 C$75.0M2026-06-25$500.0M$314.3M90%
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. Series C$75.0M2026-06-25
    • First recorded raise — entered as Series C.
Intelligence
Modeled next raise
$120.0M
Modeled next size est.range $78.0M$192.0M
Last step-up
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.

Leadership & governance

Officers and directors named in public records reported, grouped by stated role. Each links to their operator profile and other companies they're tied to.

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
Clare OzawaDirector7 other2026-06
Laurent FischerDirector3 other2026-06
Ming FangDirector3 other2026-06
William RieflinDirector3 other2026-06
Aetna Wun TrombleyExecutive Officer, Director2 other2026-06
TIM ANDERSONDirector2 other2026-06
Amy BachrodtExecutive Officer2026-06
Registry & provenance

Lycia Therapeutics, 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
1806540
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
Lycia Therapeutics, Inc.BiotechnologySeries D+$202.0M$1.2Bnetwork6 shared operators · same sector
Scipher Medicine CorpBiotechnologySeries C$123.0M$55.5Mnetwork1 shared operator · same sector · same stage
Clear Labs, Inc.BiotechnologySeries C$135.8M$218.5Mnetwork1 shared operator · same sector · same stage
Lenz Therapeutics, Inc.BiotechnologySeries C$136.2M$1.2Bnetwork1 shared operator · same sector · same stage
Puma Biotechnology, Inc.BiotechnologySeries C$75.0M$204.8Msame sector · same stage
Alcresta Therapeutics, Inc.BiotechnologySeries C$75.9M$409.6Msame sector · same stage
Proclara Biosciences, Inc.BiotechnologySeries C$76.8M$283.6Msame sector · same stage
Pi Health Inc.BiotechnologySeries C$72.7M$422.2Msame sector · same stage
Frequently asked
How much funding has Lycia Therapeutics, Inc. raised?
Lycia Therapeutics, Inc. has raised approximately $75.0M in disclosed capital across 1 recorded financing round, aggregated from public filings.
What is Lycia Therapeutics, Inc.'s estimated valuation?
Provath's modeled valuation for Lycia Therapeutics, Inc. is approximately $314.3M (modeled range $232.0M–$363.6M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Lycia Therapeutics, Inc. at?
Lycia Therapeutics, Inc.'s latest modeled financing stage is Series C. Its most recent recorded round closed around Thu Jun 25.
What does Lycia Therapeutics, Inc. do and where is it based?
Lycia Therapeutics, Inc. operates in the Biotechnology sector, based in SOUTH SAN FRANCISCO.
Explore related

See where Lycia Therapeutics, 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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