Companies · Biotechnology

Orna Therapeutics Holdings, LLC

CAMBRIDGE · Biotechnology

Diligence memoA one-page analyst read on Orna Therapeutics Holdings, LLC — recommendation, valuation, rhythm, risks.
$120.6M
Total raised · real
1
Rounds
Latest step-up
Top 9%
Sector rank · raised
Series D+
Latest stage · inferred · Sun Aug 14 2022 00:00:00 GMT+0000 (Coordinated Universal Time)

Orna Therapeutics Holdings, LLC 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 1.23× the median modeled value of Series D+ Biotechnology companies in 2022–2024 (75 peers) — value vs value, same stage and era.
  • Within the normal band (123% of peer median) for its niche.
Dormant
  • Last raise 3.9 yr ago; this sector typically re-raises about every 14 months.
  • Only one round on record and long silent — often defunct, acquired, or gone quiet.

Procedural diagnosis est. — rule-based common-sense checks over the filing pattern, issuer name, activity cadence, and surfaced operating evidence.

Issuer-vehicle patternmedium confidence

Orna Therapeutics Holdings, LLC behaves more like a recurring private-offering issuer than a conventional venture-backed operating company.

Issuer structure
Company-like
No recurring-offering pattern strong enough to override normal financing interpretation.
Lifecycle
3.9 yr record
Peak capital year was 2022 with $120.6M across 1 filings.
Market position
ahead of 92% of Biotechnology peers
Capital scale is ahead of 92% of Biotechnology peers; modeled value is above 96% of peers by modeled value. Large capital with mid-pack modeled value can signal an issuer/program profile rather than operating-company growth.
Valuation reliability
Normal applicability
Stage/dilution valuation models are weakest when the issuer is broad-sector, recurring, or vehicle-like.
Operating evidence
Sparse
No clear CEO/founder/principal role is surfaced, so operating-company confidence is lower.
Data quality
Consistent
Canonical totals and visible filing detail are broadly aligned.
What triggered this
  • Legal name looks like an issuer vehicle rather than a product company.
  • No clearly named CEO/founder/principal role in the public records surfaced here.
  • No verified homepage on the profile yet.
  • Capital program peaked in 2022: $120.6M across 1 filings.
  • Largest single filing was $120.6M on 2022-08-14.
How to read the page
  • Read this less like a startup funding journey and more like a capital-raising program.
  • Stage-based valuation and peer labels have lower applicability for this pattern.
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

Orna Therapeutics Holdings, LLC is one of 4291 Biotechnology companies tracked from CAMBRIDGE. By capital raised it ranks among the largest (ahead of 92% of sector peers), and among the largest by modeled valuation est..

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

pharma

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
17
Investors (latest)
2020
Year incorporated
2022-08-14
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$1.3B$2.5B$3.8B$5.0BSeries D+ · 2022-08-14 Raised $121M (real) Modeled valuation $2.5B (est)$121M$2.5BSeries D+2022

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 D+$120.6M · 2022

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series A, Series B, Series C — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 17%.

Modeled valuation trajectory
$2.5B
Base estimate est.
$546.7M
Conservative case
$4.2B
Upside case
$1.0B
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series D+a $100M–$400M 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
12%
Dilution assumption
Implied ownership sold in the financing.
68%
Survival probability
54% low · 75% high
1.39×/yr
Annual markup
1.56×/yr upside case
3.9 yr
Elapsed time used
3.9 yr actual, capped for stale marks
biotech
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
Avg between rounds
Capital velocity
3.9 yr
On record since
2022
First round
1
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) 17× above median
This company$120.6M
Sector median$7.2M
Latest round — vs other Series D+ rounds in sector (real $, this stage) 1.0× above median
This company$120.6M
Sector median$120.0M
Modeled value — vs sector median (estimate, all stages) 38× above median
This company$2.5B
Sector median$64.2M

Raised more than 92% of sector peers (real $). Modeled value above 96% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series D+) 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 #24 of 75.

This companyCohort peer
$1.0B$10.0B$100.0M$1.0BCapital raised (log)Areteia Therapeutics, Inc. · Series D+ Raised $360.0M · modeled $7.8B (est)GIO World Health Ltd · Series D+ Raised $300.0M · modeled $7.4B (est)Crinetics Pharmaceuticals, Inc. · Series D+ Raised $428.0M · modeled $4.3B (est)2seventy bio, Inc. · Series D+ Raised $170.0M · modeled $4.0B (est)GIO World Health (Europe) Ltd · Series D+ Raised $150.0M · modeled $3.7B (est)Gio World Health (Europe) Sa · Series D+ Raised $150.0M · modeled $3.7B (est)Arsenal Biosciences, Inc. · Series D+ Raised $579.2M · modeled $3.5B (est)ImmPACT Bio USA Inc. · Series D+ Raised $143.6M · modeled $3.5B (est)BioNTech SE · Series D+ Raised $400.0M · modeled $3.4B (est)RayzeBio, Inc. · Series D+ Raised $396.4M · modeled $3.4B (est)Genesis Therapeutics, Inc. · Series D+ Raised $297.4M · modeled $3.3B (est)Legend Biotech Corp · Series D+ Raised $350.5M · modeled $3.3B (est)Orna Therapeutics Holdings, LLC (this company) Raised $120.6M · modeled $2.5B (est)Orna Therapeutics Holdings, LLC
CompanyStageRaised · realValue · estvs peer med.
Areteia Therapeutics, Inc.Series D+$360.0M$7.8B3.87×
GIO World Health LtdSeries D+$300.0M$7.4B3.67×
Crinetics Pharmaceuticals, Inc.Series D+$428.0M$4.3B2.13×
2seventy bio, Inc.Series D+$170.0M$4.0B1.98×
GIO World Health (Europe) LtdSeries D+$150.0M$3.7B1.84×
Gio World Health (Europe) SaSeries D+$150.0M$3.7B1.84×
Arsenal Biosciences, Inc.Series D+$579.2M$3.5B1.76×
ImmPACT Bio USA Inc.Series D+$143.6M$3.5B1.72×
BioNTech SESeries D+$400.0M$3.4B1.71×
RayzeBio, Inc.Series D+$396.4M$3.4B1.69×
Genesis Therapeutics, Inc.Series D+$297.4M$3.3B1.64×
Legend Biotech CorpSeries D+$350.5M$3.3B1.63×
Orna Therapeutics Holdings, LLC this companySeries D+$120.6M$2.5B1.23×
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 D+$120.6M2022-08-14$1.0B$2.5B90%
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 D+$120.6M2022-08-14
    • First recorded raise — entered as Series D+.
    • 17 investors on this round.
Intelligence
Modeled next raise
$193.0M
Modeled next size est.range $125.4M$308.7M
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.

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
John M. McCabe1 other2022-08
Ansbert M. Gadicke2022-08
Brian M. Goodman2022-08
Daniel M. Anderson2022-08
Francesco M. Marincola2022-08
Morana M. Jovan-Embiricos2022-08
Nishla M. Keiser2022-08
Robert M. Marby2022-08
Sakae M. Asanuma2022-08
Thomas M. Barnes2022-08
Thomas M. Ebeling2022-08
William M. Shen2022-08
Registry & provenance

Orna Therapeutics Holdings, LLC 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
1943348
SEC CIK
2020
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
Palleon Pharmaceuticals Inc.BiotechnologySeries D+$120.6M$3.9Bsame sector · same stage
Saral, Inc.BiotechnologySeries D+$120.0M$2.6Bsame sector · same stage
PepGen Inc.BiotechnologySeries D+$126.9M$3.2Bsame sector · same stage
Variant Bio, Inc.BiotechnologySeries D+$127.7M$2.8Bsame sector · same stage
Zura Bio LtdBiotechnologySeries D+$128.4M$1.3Bsame sector · same stage
Zephyr AI, Inc.BiotechnologySeries D+$129.7M$1.5Bsame sector · same stage
Organogenesis Holdings Inc.BiotechnologySeries D+$130.0M$1.3Bsame sector · same stage
Flame Biosciences, Inc.BiotechnologySeries D+$108.5M$3.8Bsame 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
Ora Biomedical, Inc.BiotechnologyPre-Seed$4.4M90%
Oric Pharmaceuticals, Inc.BiotechnologySeries D+$1.0B89%
Oricula Therapeutics LLCBiotechnologyPre-Seed$27.6M89%
Eterna Therapeutics Inc.BiotechnologySeries A$26.5M87%
OrthoBio Therapeutics, Inc.BiotechnologySeries B$147.3M87%
ORF Biologics, Inc.BiotechnologySeed$9.4M86%
Dorna Therapeutics, Inc.BiotechnologyPre-Seed$16.6M85%
Mabvax Therapeutics Holdings, Inc.BiotechnologySeries A$30.0M85%
Frequently asked
How much funding has Orna Therapeutics Holdings, LLC raised?
Orna Therapeutics Holdings, LLC has raised approximately $120.6M in disclosed capital across 1 recorded financing round, aggregated from public filings.
What is Orna Therapeutics Holdings, LLC's estimated valuation?
Provath's modeled valuation for Orna Therapeutics Holdings, LLC is approximately $2.5B (modeled range $546.7M–$4.2B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Orna Therapeutics Holdings, LLC at?
Orna Therapeutics Holdings, LLC's latest modeled financing stage is Series D+. Its most recent recorded round closed around Sun Aug 14.
What does Orna Therapeutics Holdings, LLC do and where is it based?
Orna Therapeutics Holdings, LLC operates in the Biotechnology sector, based in CAMBRIDGE.
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