Companies · Biotechnology

MI:RNA Ltd

EDINBURGH · Biotechnology

Diligence memoA one-page analyst read on MI:RNA Ltd — recommendation, valuation, rhythm, risks.
$4.7M
Total raised · real
2
Rounds
15.0×
Latest step-up
Top 59%
Sector rank · raised
Series A
Latest stage · inferred · Fri Jun 28 2024 00:00:00 GMT+0000 (Coordinated Universal Time)

MI:RNA Ltd looks under-valued against its niche peers and is quiet 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 0.53× the median modeled value of Series A Biotechnology companies in 2022–2024 (303 peers) — value vs value, same stage and era.
Quiet
  • Last raise 2.0 yr ago; this sector typically re-raises about every 14 months.
  • Slightly overdue versus sector 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

MI:RNA Ltd is one of 4291 Biotechnology companies tracked from EDINBURGH. By capital raised it ranks mid-pack (ahead of 42% 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
57
Investors (latest)
2019
Year incorporated
2024-06-28
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$13M$25M$38M$50MPre-Seed · 2023-06-20 Raised $296K (real) Modeled valuation $2.6M (est)$296K$2.6MPre-Seed2023Series A · 2024-06-28 Raised $4.4M (real) Modeled valuation $23M (est)$4.4M$23MSeries A2024+$4.4MCumulative $4.7M

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
Pre-Seed$296K · 2023
Series A$4.4M · 2024no Seed on file

Stages are modeled from round size (public records carry no series label). No record for: Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 67%.

Modeled valuation trajectory
$23.3M
Base estimate est.
$4.8M
Conservative case
$50.6M
Upside case
$20.2M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Aa $4.0M–$15M round). Valuation is modeled from stage benchmarks scaled by the biotech sector profile. Directional, not a quoted figure.

Pre-Seed · modeled $2.6M · 2023-06-202023Series A · modeled $23.3M · 2024-06-282024
Model inputs · modeled:benchmark-stage-stepup-v1
22%
Dilution assumption
Implied ownership sold in the financing.
44%
Survival probability
24% low · 60% high
1.62×/yr
Annual markup
2.04×/yr upside case
2.0 yr
Elapsed time used
2.0 yr actual, capped for stale marks
biotech
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
12 mo
Avg between rounds
$4.6M/yr
Capital velocity
3.0 yr
On record since
2023
First round
2
Rounds on file
How it compares to the market

Benchmarked against 4291 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) 0.7× of median
This company$4.7M
Sector median$7.2M
Latest round — vs other Series A rounds in sector (real $, this stage) 0.8× of median
This company$4.4M
Sector median$5.4M
Modeled value — vs sector median (estimate, all stages) 0.4× of median
This company$23.3M
Sector median$64.2M

Raised more than 42% of sector peers (real $). Modeled value above 31% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series A) 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 #228 of 303.

This companyCohort peer
$10.0M$100.0M$1.0B$1.0M$10.0M$100.0MCapital raised (log)GeoVax Labs, Inc. · Series A Raised $39.1M · modeled $217.0M (est)Cellinfinity Bio Holding Company, LLC · Series A Raised $13.2M · modeled $215.9M (est)Adient Medical, Inc. · Series A Raised $18.2M · modeled $206.8M (est)Entegrion Inc · Series A Raised $22.7M · modeled $191.3M (est)BCD Bioscience, Inc. · Series A Raised $16.4M · modeled $188.9M (est)Pragma Biosciences Inc. · Series A Raised $14.5M · modeled $186.0M (est)MicroByre, Inc. · Series A Raised $16.1M · modeled $185.7M (est)Cardiac Insight, Inc. · Series A Raised $38.1M · modeled $183.8M (est)Cardiac Implants LLC · Series A Raised $13.5M · modeled $178.2M (est)Abintus Bio, Inc. · Series A Raised $13.7M · modeled $177.2M (est)Mosaic Biosciences, Inc. · Series A Raised $14.7M · modeled $176.1M (est)Mazen Animal Health Inc. · Series A Raised $13.5M · modeled $168.8M (est)MI:RNA Ltd (this company) Raised $4.7M · modeled $23.3M (est)MI:RNA Ltd
CompanyStageRaised · realValue · estvs peer med.
GeoVax Labs, Inc.Series A$39.1M$217.0M4.90×
Cellinfinity Bio Holding Company, LLCSeries A$13.2M$215.9M4.87×
Adient Medical, Inc.Series A$18.2M$206.8M4.67×
Entegrion IncSeries A$22.7M$191.3M4.32×
BCD Bioscience, Inc.Series A$16.4M$188.9M4.27×
Pragma Biosciences Inc.Series A$14.5M$186.0M4.20×
MicroByre, Inc.Series A$16.1M$185.7M4.19×
Cardiac Insight, Inc.Series A$38.1M$183.8M4.15×
Cardiac Implants LLCSeries A$13.5M$178.2M4.02×
Abintus Bio, Inc.Series A$13.7M$177.2M4.00×
Mosaic Biosciences, Inc.Series A$14.7M$176.1M3.98×
Mazen Animal Health Inc.Series A$13.5M$168.8M3.81×
MI:RNA Ltd this companySeries A$4.7M$23.3M0.53×
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.
Pre-Seed$296K2023-06-20$1.6M$2.6M90%
Series A$4.4M2024-06-28$20.2M$23.3M90%
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. Pre-Seed$296K2023-06-20
    • First recorded raise — entered as Pre-Seed.
    • 5 investors on this round.
  2. Series A$4.4M2024-06-28
    • Raised 12 mo later, in step with the ~14 mo sector norm.
    • Round 15.0× larger than the prior — scaling up.
    • 57 investors on this round.
Intelligence
2025 ~Q3
Modeled next raise · ~12mo cadence
$13.3M
Modeled next size est.range $8.6M$21.3M
15.0×
Last step-up
$4.6M/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
Alexandra Lusty2023-06
Brian Hugh Axe2024-06
Colin Hugh Macewan2023-06
Eve Hugh Hanks2023-06
Huw Hugh Jones2024-06
Kathryn Hugh MacKinnon2023-06
N/a Hugh Gabriel Investments Limited2023-06
Neil Hugh Clelland2023-06
Registry & provenance

MI:RNA Ltd 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
1984052
SEC CIK
2019
Incorporated
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
Pahr Therapeutics, Inc.BiotechnologySeries A$4.7M$17.8Msame sector · same stage
Perlumi Chemicals, Inc.BiotechnologySeries A$4.5M$25.2Msame sector · same stage
Zucara Therapeutics Inc.BiotechnologySeries A$5.0M$19.7Msame sector · same stage
Belakin Health Technology LtdBiotechnologySeries A$5.0M$17.5Msame sector · same stage
Blue water biotechnology engineering (macau) co., ltdBiotechnologySeries A$5.0M$18.5Msame sector · same stage
Global Eagle China Life Technology Co.,LimitedBiotechnologySeries A$5.0M$21.0Msame sector · same stage
JoJo Biotechnologies Co LtdBiotechnologySeries A$5.0M$17.6Msame sector · same stage
Prana Therapies, Inc.BiotechnologySeries A$5.0M$27.4Msame 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
RNAissance AG LLCBiotechnologyPre-Seed$54.7M87%
Sirnaomics, Inc.BiotechnologySeries C$3.2B84%
Mi-Helper, Inc.BiotechnologySeed$50.9M84%
Rnav8 Bio, Inc.BiotechnologySeed$32.0M83%
Next Science LtdBiotechnologyPre-Seed$6.3M83%
Molecularmd Corp.BiotechnologySeries A$74.8M82%
Oral Genome Corp.BiotechnologySeed$11.2M82%
Arbor Biotechnologies, Inc.BiotechnologySeries D+$5.7B82%
Frequently asked
How much funding has MI:RNA Ltd raised?
MI:RNA Ltd has raised approximately $4.7M in disclosed capital across 2 recorded financing rounds, aggregated from public filings.
What is MI:RNA Ltd's estimated valuation?
Provath's modeled valuation for MI:RNA Ltd is approximately $23.3M (modeled range $4.8M–$50.6M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is MI:RNA Ltd at?
MI:RNA Ltd's latest modeled financing stage is Series A. Its most recent recorded round closed around Fri Jun 28.
What does MI:RNA Ltd do and where is it based?
MI:RNA Ltd operates in the Biotechnology sector, based in EDINBURGH.
Explore related

See where MI:RNA Ltd sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.

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