Companies · Pharmaceuticals

Marina Biotech, Inc.

WAKE FOREST · Pharmaceuticals

Diligence memoA one-page analyst read on Marina Biotech, Inc. — recommendation, valuation, rhythm, risks.
$69.2M
Total raised · real
11
Rounds
6.5×
Latest step-up
Top 15%
Sector rank · raised
Series C
Latest stage · inferred · Fri Jun 28 2019 00:00:00 GMT+0000 (Coordinated Universal Time)

Marina Biotech, Inc. looks under-valued 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 pharma 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 0.07× the median modeled value of Series C Pharmaceuticals companies in 2019–2021 (33 peers) — value vs value, same stage and era.
Dormant
  • Last raise 7.0 yr ago; this sector typically re-raises about every 13 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 Pharmaceuticals

Marina Biotech, Inc. is one of 1613 Pharmaceuticals companies tracked from WAKE FOREST. By capital raised it ranks in the upper tier (ahead of 86% of sector peers), and mid-pack by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

biotech

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
45
Investors (latest)
2019-06-28
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 C · 2010-07-21 Raised $44M (real) Modeled valuation $1.5B (est)Series C2010Series C · 2011-12-29 Raised $173K (real) Modeled valuation $6.1M (est)Series C2011Series C · 2014-03-07 Raised $6.0M (real) Modeled valuation $211M (est)Series C2014Series C · 2015-08-07 Raised $1.1M (real) Modeled valuation $39M (est)Series C2015Series C · 2016-06-21 Raised $300K (real) Modeled valuation $11M (est)Series C2016Series C · 2017-06-05 Raised $224K (real) Modeled valuation $7.9M (est)Series C2017Series C · 2017-06-05 Raised $500K (real) Modeled valuation $18M (est)Series C2017Series C · 2018-04-16 Raised $12M (real) Modeled valuation $410M (est)Series C2018Series C · 2018-07-12 Raised $1.5M (real) Modeled valuation $54M (est)Series C2018Series C · 2019-06-28 Raised $500K (real) Modeled valuation $18M (est)Series C2019Series C · 2019-06-28 Raised $3.2M (real) Modeled valuation $114M (est)Series C2019Cumulative $69M

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$44.0M · 2010
Series C extension$173K · 2011
Series C extension$6.0M · 2014
Series C extension$1.1M · 2015
Series C extension$300K · 2016
Series C extension$224K · 2017
Series C extension$500K · 2017
Series C extension$11.7M · 2018
Series C extension$1.5M · 2018
Series C extension$500K · 2019
Series C extension$3.2M · 2019

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
$113.7M
Base estimate est.
$10.5M
Conservative case
$299.5M
Upside case
$21.6M
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 pharma sector profile. Directional, not a quoted figure.

Series C · modeled $1.5B · 2010-07-212010Series C · modeled $6.1M · 2011-12-29Series C · modeled $210.5M · 2014-03-07Series C · modeled $38.6M · 2015-08-07Series C · modeled $10.5M · 2016-06-21Series C · modeled $7.9M · 2017-06-05Series C · modeled $17.5M · 2017-06-05Series C · modeled $409.5M · 2018-04-16Series C · modeled $54.0M · 2018-07-12Series C · modeled $17.5M · 2019-06-28Series C · modeled $113.7M · 2019-06-282019
Model inputs · modeled:benchmark-stage-stepup-v1
15%
Dilution assumption
Implied ownership sold in the financing.
66%
Survival probability
49% low · 76% high
1.42×/yr
Annual markup
1.62×/yr upside case
6.0 yr
Elapsed time used
7.0 yr actual, capped for stale marks
pharma
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
11 mo
Avg between rounds
$7.7M/yr
Capital velocity
15.9 yr
On record since
2010
First round
11
Rounds on file
How it compares to the market

Benchmarked against 1613 companies in Pharmaceuticals. 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) 8.6× above median
This company$69.2M
Sector median$8.1M
Latest round — vs other Series C rounds in sector (real $, this stage) 0.1× of median
This company$3.2M
Sector median$46.4M
Modeled value — vs sector median (estimate, all stages) 1.5× above median
This company$113.7M
Sector median$76.1M

Raised more than 86% of sector peers (real $). Modeled value above 56% 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 #32 of 33.

This companyCohort peer
$10.0M$100.0M$1.0B$10.0B$10.0M$100.0M$1.0BCapital raised (log)Verastem, Inc. · Series C Raised $163.2M · modeled $3.5B (est)Sentia Wellness, Inc. · Series C Raised $91.6M · modeled $3.2B (est)Oyster Point Pharma, Inc. · Series C Raised $113.6M · modeled $3.0B (est)Terns Pharmaceuticals, Inc. · Series C Raised $97.7M · modeled $2.9B (est)Theseus Pharmaceuticals, Inc. · Series C Raised $117.2M · modeled $2.7B (est)Aerovate Therapeutics, Inc. · Series C Raised $78.3M · modeled $2.6B (est)Mereo Biopharma Group plc · Series C Raised $70.0M · modeled $2.5B (est)Goldfinch Bio, Inc. · Series C Raised $69.7M · modeled $2.4B (est)Avilar Therapeutics, Inc. · Series C Raised $75.3M · modeled $2.3B (est)Werewolf Therapeutics, Inc. · Series C Raised $128.2M · modeled $2.1B (est)Athenex, Inc. · Series C Raised $366.7M · modeled $2.1B (est)Tvardi Therapeutics, Inc. · Series C Raised $78.1M · modeled $1.8B (est)Marina Biotech, Inc. (this company) Raised $69.2M · modeled $113.7M (est)Marina Biotech, Inc.
CompanyStageRaised · realValue · estvs peer med.
Verastem, Inc.Series C$163.2M$3.5B2.12×
Sentia Wellness, Inc.Series C$91.6M$3.2B1.94×
Oyster Point Pharma, Inc.Series C$113.6M$3.0B1.80×
Terns Pharmaceuticals, Inc.Series C$97.7M$2.9B1.75×
Theseus Pharmaceuticals, Inc.Series C$117.2M$2.7B1.66×
Aerovate Therapeutics, Inc.Series C$78.3M$2.6B1.56×
Mereo Biopharma Group plcSeries C$70.0M$2.5B1.49×
Goldfinch Bio, Inc.Series C$69.7M$2.4B1.48×
Avilar Therapeutics, Inc.Series C$75.3M$2.3B1.36×
Werewolf Therapeutics, Inc.Series C$128.2M$2.1B1.30×
Athenex, Inc.Series C$366.7M$2.1B1.28×
Tvardi Therapeutics, Inc.Series C$78.1M$1.8B1.12×
Marina Biotech, Inc. this companySeries C$69.2M$113.7M0.07×
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$44.0M2010-07-21$293.3M$1.5B85%
Series C$173K2011-12-29$1.2M$6.1M85%
Series C$6.0M2014-03-07$40.0M$210.5M85%
Series C$1.1M2015-08-07$7.3M$38.6M85%
Series C$300K2016-06-21$2.0M$10.5M85%
Series C$224K2017-06-05$1.5M$7.9M90%
Series C$500K2017-06-05$3.3M$17.5M90%
Series C$11.7M2018-04-16$77.8M$409.5M90%
Series C$1.5M2018-07-12$10.3M$54.0M90%
Series C$500K2019-06-28$3.3M$17.5M90%
Series C$3.2M2019-06-28$21.6M$113.7M90%
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$44.0M2010-07-21
    • First recorded raise — entered as Series C.
    • 25 investors on this round.
  2. Series C$173K2011-12-29
    • Raised 17 mo later, in step with the ~13 mo sector norm.
    • Round 255.0× smaller than the prior — bridge or down round.
    • 1 investor on this round.
  3. Series C$6.0M2014-03-07
    • Raised again after 26 mo — slower than the ~13 mo sector norm.
    • Round 34.8× larger than the prior — scaling up.
    • Switched to Rule 506(b) (was Rule 06).
    • 2 investors on this round.
  4. Series C$1.1M2015-08-07
    • Raised 17 mo later, in step with the ~13 mo sector norm.
    • Round 5.5× smaller than the prior — bridge or down round.
    • 3 investors on this round.
  5. Series C$300K2016-06-21
    • Raised 10 mo later, in step with the ~13 mo sector norm.
    • Round 3.7× smaller than the prior — bridge or down round.
    • 2 investors on this round.
  6. Series C$224K2017-06-05
    • Raised 11 mo later, in step with the ~13 mo sector norm.
    • Round 1.3× smaller than the prior — bridge or down round.
    • 8 investors on this round.
  7. Series C$500K2017-06-05
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 2.2× larger than the prior — scaling up.
    • 1 investor on this round.
  8. Series C$11.7M2018-04-16
    • Raised 10 mo later, in step with the ~13 mo sector norm.
    • Round 23.3× larger than the prior — scaling up.
    • 97 investors on this round.
  9. Series C$1.5M2018-07-12
    • Came back fast: 3 mo vs the ~13 mo sector norm.
    • Round 7.6× smaller than the prior — bridge or down round.
    • 9 investors on this round.
  10. Series C$500K2019-06-28
    • Raised 12 mo later, in step with the ~13 mo sector norm.
    • Round 3.1× smaller than the prior — bridge or down round.
    • 1 investor on this round.
  11. Series C$3.2M2019-06-28
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 6.5× larger than the prior — scaling up.
    • 45 investors on this round.
Intelligence
2020 ~Q2
Modeled next raise · ~11mo cadence
$9.7M
Modeled next size est.range $6.3M$15.5M
6.5×
Last step-up
$7.7M/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
Vuong Trieu4 other2017-06
R. John Fletcher3 other2011-12
Isaac A. Blech2 other2017-06
Peter D. Parker2 other2010-07
Tim Boris2 other2019-06
ULI HACKSELL2 other2019-06
Chiang J. Li1 other2010-07
Donald A. Williams1 other2015-08
Gregory M. Sessler1 other2010-07
Issac Blech1 other2019-06
Michael D. Taylor1 other2010-07
Nancy Phelan1 other2019-06
Philippe A. Calais1 other2017-06
Tim A. Boris1 other2018-07
Amit A. Shah2018-04
Barry S. Polisky2010-07
Erik A. Emerson2018-07
Gregory D. Sessler2011-12
Issac A. Blech2018-04
Issac C. Blech2018-07
James M. Karis2010-07
J. Michael French2010-07
Joseph W. Ramelli2014-03
Peter S. Garcia2010-07
Registry & provenance

Marina Biotech, 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
737207
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
Acadia Pharmaceuticals IncPharmaceuticalsSeries C$107.5M$3.0Bnetwork1 shared operator · same sector · same stage
Elucida Oncology, Inc.BiotechnologySeries B$117.1M$255.6Mnetwork3 shared operators
RedHill Biopharma Ltd.PharmaceuticalsSeries C$72.5M$101.7Msame sector · same stage
Corner Therapeutics, Inc.PharmaceuticalsSeries C$75.3M$95.4Msame sector · same stage
Allena Pharmaceuticals, Inc.PharmaceuticalsSeries C$80.5M$75.1Msame sector · same stage
OptiNose, Inc.PharmaceuticalsSeries B$120.4M$34.7Mnetwork1 shared operator · same sector
Tango Therapeutics, Inc.PharmaceuticalsSeries C$95.0M$83.2Msame sector · same stage
Pelthos Therapeutics Inc.PharmaceuticalsSeries C$98.8M$98.6Msame 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
Biotech Holdings, LLCBiotechnologyPre-Seed$27.6M82%
Kovina Therapeutics Inc.BiotechnologySeed$51.3M82%
PharmaCyte Biotech, Inc.BiotechnologySeries C$40.6M82%
CytoSite BioPharma Inc.BiotechnologySeries A$92.2M82%
Biovie Inc.BiotechnologySeries A$81.2M82%
Marea Therapeutics, Inc.BiotechnologySeries C$595.9M81%
Azure Biotech, Inc.BiotechnologySeed$52.4M81%
Bioscience Pharma Partners, LLCPharmaceuticalsSeed$95.1M81%
Frequently asked
How much funding has Marina Biotech, Inc. raised?
Marina Biotech, Inc. has raised approximately $69.2M in disclosed capital across 11 recorded financing rounds, aggregated from public filings.
What is Marina Biotech, Inc.'s estimated valuation?
Provath's modeled valuation for Marina Biotech, Inc. is approximately $113.7M (modeled range $10.5M–$299.5M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Marina Biotech, Inc. at?
Marina Biotech, Inc.'s latest modeled financing stage is Series C. Its most recent recorded round closed around Fri Jun 28.
What does Marina Biotech, Inc. do and where is it based?
Marina Biotech, Inc. operates in the Pharmaceuticals sector, based in WAKE FOREST.
Explore related

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