Companies · Biotechnology

Navrogen Inc.

CHEYNEY · Biotechnology

Diligence memoA one-page analyst read on Navrogen Inc. — recommendation, valuation, rhythm, risks.
$12.8M
Total raised · real
3
Rounds
1.0×
Latest step-up
Top 41%
Sector rank · raised
Series A
Latest stage · inferred · Wed Jun 05 2024 00:00:00 GMT+0000 (Coordinated Universal Time)

Navrogen Inc. 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 0.07× the median modeled value of Series A Biotechnology companies in 2022–2024 (303 peers) — value vs value, same stage and era.
Quiet
  • Last raise 2.1 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

Navrogen Inc. is one of 4291 Biotechnology companies tracked from CHEYNEY. By capital raised it ranks mid-pack (ahead of 60% 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
13
Investors (latest)
2024-06-05
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$50M$100M$150M$200MSeed · 2018-10-10 Raised $3.2M (real) Modeled valuation $142M (est)$3.2M$142MSeed2018Seed · 2018-10-10 Raised $1.3M (real) Modeled valuation $59M (est)$1.3M$59MSeed2018Series A · 2021-07-29 Raised $9.1M (real) Modeled valuation $195M (est)$9.1M$195MSeries A2021Series A · 2021-07-29 Raised $7.0M (real) Modeled valuation $150M (est)$7.0M$150MSeries A2021Series A · 2024-06-05 Raised $542K (real) Modeled valuation $2.9M (est)$542K$2.9MSeries A2024Pre-Seed · 2024-06-05 Raised $542K (real) Modeled valuation $2.6M (est)$542K$2.6MPre-Seed2024+$1.3M+$9.1M+$7.0M+$542K+$542KCumulative $22M

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
Seed$3.2M · 2018
Seed extension$1.3M · 2018
Series A$9.1M · 2021
Series A extension$7.0M · 2021
Series A extension$542K · 2024
Bridge · Series A-stage$542K · 2024smaller follow-on

Stages are modeled from round size (public records carry no series label). Ladder is contiguous — every modeled rung has a record.

Modeled valuation trajectory
$2.9M
Base estimate est.
$591K
Conservative case
$6.5M
Upside case
$2.5M
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.

Seed · modeled $142.1M · 2018-10-102018Seed · modeled $58.8M · 2018-10-10Series A · modeled $194.8M · 2021-07-29Series A · modeled $149.5M · 2021-07-29Series A · modeled $2.9M · 2024-06-05Pre-Seed · modeled $2.6M · 2024-06-052024
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
2.1 yr
Elapsed time used
2.1 yr actual, capped for stale marks
biotech
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
14 mo
Avg between rounds
$2.3M/yr
Capital velocity
7.7 yr
On record since
2018
First round
6
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) 1.8× above median
This company$12.8M
Sector median$7.2M
Latest round — vs other Series A rounds in sector (real $, this stage) 0.1× of median
This company$542K
Sector median$5.4M
Modeled value — vs sector median (estimate, all stages) 0.0× of median
This company$2.9M
Sector median$64.2M

Raised more than 60% of sector peers (real $). Modeled value above 7% 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 #291 of 303.

This companyCohort peer
$1.0M$10.0M$100.0M$1.0B$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)Navrogen Inc. (this company) Raised $12.8M · modeled $2.9M (est)Navrogen Inc.
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×
Navrogen Inc. this companySeries A$12.8M$2.9M0.07×
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.
Seed$3.2M2018-10-10$16.0M$142.1M90%
Seed$1.3M2018-10-10$6.6M$58.8M90%
Series A$9.1M2021-07-29$41.2M$194.8M90%
Series A$7.0M2021-07-29$31.6M$149.5M90%
Series A$542K2024-06-05$2.5M$2.9M90%
Pre-Seed$542K2024-06-05$3.0M$2.6M90%
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. Seed$3.2M2018-10-10
    • First recorded raise — entered as Seed.
    • 18 investors on this round.
  2. Seed$1.3M2018-10-10
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 2.4× smaller than the prior — bridge or down round.
    • 9 investors on this round.
  3. Series A$9.1M2021-07-29
    • Raised again after 34 mo — slower than the ~14 mo sector norm.
    • Round 6.8× larger than the prior — scaling up.
    • 20 investors on this round.
  4. Series A$7.0M2021-07-29
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.3× smaller than the prior — bridge or down round.
    • 20 investors on this round.
  5. Series A$542K2024-06-05
    • Raised again after 34 mo — slower than the ~14 mo sector norm.
    • Round 12.8× smaller than the prior — bridge or down round.
    • 13 investors on this round.
  6. Pre-Seed$542K2024-06-05
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 13 investors on this round.
Intelligence
2025 ~Q3
Modeled next raise · ~14mo cadence
$542K
Modeled next size est.range $542K$867K
1.0×
Last step-up
$2.3M/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
Leon O. Moulder, Jr.5 other2021-07
Allan C. Bedwick2021-07
Allan O Bedwick2024-06
Luigi C. Grasso2021-07
Luigi Grasso2018-10
Nicholas C. Nicolaides2021-07
Nicholas Nicolaides2018-10
Steven G Kyriakos2018-10
Registry & provenance

Navrogen 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
1756608
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
Praeventix, Inc.BiotechnologySeries A$14.1M$7.3Mnetwork1 shared operator · same sector · same stage
Memgen, Inc.BiotechnologySeries A$13.0M$4.1Msame sector · same stage
Bone Biologics CorpBiotechnologySeries A$13.0M$5.2Msame sector · same stage
Biopoly, LlcBiotechnologySeries A$13.2M$4.3Msame sector · same stage
Elastrin Therapeutics, Inc.BiotechnologySeries A$13.3M$2.4Msame sector · same stage
Genialis, Inc.BiotechnologySeries A$12.1M$1.8Msame sector · same stage
Pirouette Medical Inc.BiotechnologySeries A$14.0M$2.5Msame sector · same stage
Suono Bio, Inc.BiotechnologySeries A$14.0M$4.0Msame 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
Anogen Life Sciences, Inc.BiotechnologyPre-Seed$15.7M86%
Ionogen, Inc.BiotechnologyPre-Seed$27.6M86%
Savran Technologies Inc.BiotechnologySeries A$2.1M86%
Achaogen IncBiotechnologySeries B$396.9M85%
Nabgen, Inc.BiotechnologyPre-Seed$2.1M85%
Organogenesis Holdings Inc.BiotechnologySeries D+$1.3B85%
Nativis, Inc.BiotechnologySeries A$16.3M85%
NovaVive Inc.BiotechnologyPre-Seed$6.9M85%
Frequently asked
How much funding has Navrogen Inc. raised?
Navrogen Inc. has raised approximately $12.8M in disclosed capital across 3 recorded financing rounds, aggregated from public filings.
What is Navrogen Inc.'s estimated valuation?
Provath's modeled valuation for Navrogen Inc. is approximately $2.9M (modeled range $591K–$6.5M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Navrogen Inc. at?
Navrogen Inc.'s latest modeled financing stage is Series A. Its most recent recorded round closed around Wed Jun 05.
What does Navrogen Inc. do and where is it based?
Navrogen Inc. operates in the Biotechnology sector, based in CHEYNEY.
Explore related

See where Navrogen 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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