Companies · Pharmaceuticals

Paragon Biosciences Emalex Capital, Inc.

CHICACO · Pharmaceuticals · https://paragonbiosci.com/

Diligence memoA one-page analyst read on Paragon Biosciences Emalex Capital, Inc. — recommendation, valuation, rhythm, risks.
$376.8M
Total raised · real
5
Rounds
1.0×
Latest step-up
Top 2%
Sector rank · raised
Series D+
Latest stage · inferred · Wed May 18 2022 00:00:00 GMT+0000 (Coordinated Universal Time)

Paragon Biosciences Emalex Capital, Inc. looks over-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.

Over-valued
  • Modeled value is 2.85× the median modeled value of Series D+ Pharmaceuticals companies in 2022–2024 (18 peers) — value vs value, same stage and era.
Dormant
  • Last raise 4.1 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

Paragon Biosciences Emalex Capital, Inc. is one of 1613 Pharmaceuticals companies tracked from CHICACO. By capital raised it ranks among the largest (ahead of 99% 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.

AI analyst read est. — model-extracted from this company's public description, not a verified fact. 30%

operates a technology-led product inferred from public copy

Grounded in: “You are a venture analyst

Paragon is a global life science leader that creates, builds and funds innovative biology-based companies to treat and cure diseases.

Paragon is a global life science leader that creates, builds and funds innovative biology-based companies to treat and cure diseases. © 2026 Paragon Biosciences LLC | Privacy Policy | Terms of Use 330 N Wabash Avenue, Suite 3500, Chicago, IL 60611 | © 2026 Paragon Biosciences LLC | Privacy Policy | Terms of Use 330 N Wabash Avenue, Suite 3500, Chicago, IL 60611 © 2026 Paragon Biosciences LLC Privacy Policy | Terms of Use 330 N Wabash Avenue, Suite 3500 Chicago, IL 60611

Find Paragon Biosciences LLC online

Trades publicly as Paragon Biosciences LLC.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
42
Investors (latest)
2018
Year incorporated
2022-10-21
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$2.5B$5.0B$7.5B$10.0BSeries A · 2018-07-31 Raised $6.9M (real) Modeled valuation $214M (est)Series A2018Series A · 2018-07-31 Raised $9.4M (real) Modeled valuation $290M (est)Series A2018Series B · 2019-09-18 Raised $37M (real) Modeled valuation $1.3B (est)Series B2019Series B · 2021-02-25 Raised $35M (real) Modeled valuation $919M (est)Series B2021Series B · 2021-02-25 Raised $35M (real) Modeled valuation $919M (est)Series B2021Series D+ · 2022-05-18 Raised $270M (real) Modeled valuation $5.5B (est)Series D+2022Series B · 2022-05-18 Raised $25M (real) Modeled valuation $405M (est)Series B2022Series D+ · 2022-05-18 Raised $217M (real) Modeled valuation $4.4B (est)Series D+2022Series D+ · 2022-10-21 Raised $185M (real) Modeled valuation $3.3B (est)Series D+2022Series D+ · 2022-10-21 Raised $185M (real) Modeled valuation $3.3B (est)Series D+2022+$9.4M+$37M+$35M+$35M+$270M+$25M+$217M+$185M+$185MCumulative $1.0B

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 A$6.9M · 2018
Series A extension$9.4M · 2018
Series B$37.4M · 2019
Series B extension$35.0M · 2021
Series B extension$35.0M · 2021
Series D+$270.0M · 2022no Series C on file
Bridge · Series D+-stage$25.0M · 2022smaller follow-on
Series D+ extension$217.0M · 2022
Series D+ extension$185.0M · 2022
Series D+ extension$185.0M · 2022

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series C — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 50%.

Modeled valuation trajectory
$5.5B
Base estimate est.
$1.3B
Conservative case
$9.7B
Upside case
$2.3B
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 pharma sector profile. Directional, not a quoted figure.

Series A · modeled $214.5M · 2018-07-312018Series A · modeled $290.4M · 2018-07-31Series B · modeled $1.3B · 2019-09-18Series B · modeled $919.4M · 2021-02-25Series B · modeled $919.4M · 2021-02-25Series D+ · modeled $5.5B · 2022-05-18Series B · modeled $404.8M · 2022-05-18Series D+ · modeled $4.4B · 2022-05-18Series D+ · modeled $3.3B · 2022-10-21Series D+ · modeled $3.3B · 2022-10-212022
Model inputs · modeled:benchmark-stage-stepup-v1
12%
Dilution assumption
Implied ownership sold in the financing.
71%
Survival probability
57% low · 79% high
1.35×/yr
Annual markup
1.51×/yr upside case
4.1 yr
Elapsed time used
4.1 yr actual, capped for stale marks
pharma
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
6 mo
Avg between rounds
$89.2M/yr
Capital velocity
7.9 yr
On record since
2018
First round
10
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) 47× above median
This company$376.8M
Sector median$8.1M
Latest round — vs other Series D+ rounds in sector (real $, this stage) 1.7× above median
This company$185.0M
Sector median$111.8M
Modeled value — vs sector median (estimate, all stages) 72× above median
This company$5.5B
Sector median$76.1M

Raised more than 99% of sector peers (real $). Modeled value above 99% 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 #1 of 18.

This companyCohort peer
$1.0B$10.0B$100.0M$1.0BCapital raised (log)TrialSpark, Inc. · Series D+ Raised $372.2M · modeled $4.1B (est)Fog Pharmaceuticals, Inc. · Series D+ Raised $278.4M · modeled $3.1B (est)MAPS Public Benefit Corp · Series D+ Raised $215.1M · modeled $2.9B (est)Karyopharm Therapeutics Inc. · Series D+ Raised $205.2M · modeled $2.8B (est)ADARx Pharmaceuticals, Inc. · Series D+ Raised $352.5M · modeled $2.8B (est)Olema Pharmaceuticals, Inc. · Series D+ Raised $527.4M · modeled $2.4B (est)Mineralys Therapeutics, Inc. · Series D+ Raised $118.0M · modeled $2.4B (est)Endo, Inc. · Series D+ Raised $170.6M · modeled $2.0B (est)TORL Biotherapeutics LLC · Series D+ Raised $158.3M · modeled $1.8B (est)UroGen Pharma Ltd. · Series D+ Raised $120.0M · modeled $1.7B (est)Renibus Therapeutics, Inc. · Series D+ Raised $180.1M · modeled $1.7B (est)Paragon Biosciences Emalex Capital, Inc. (this company) Raised $376.8M · modeled $5.5B (est)Paragon Biosciences Emalex Capital, Inc.
CompanyStageRaised · realValue · estvs peer med.
Paragon Biosciences Emalex Capital, Inc. this companySeries D+$376.8M$5.5B2.85×
TrialSpark, Inc.Series D+$372.2M$4.1B2.17×
Fog Pharmaceuticals, Inc.Series D+$278.4M$3.1B1.62×
MAPS Public Benefit CorpSeries D+$215.1M$2.9B1.53×
Karyopharm Therapeutics Inc.Series D+$205.2M$2.8B1.48×
ADARx Pharmaceuticals, Inc.Series D+$352.5M$2.8B1.48×
Olema Pharmaceuticals, Inc.Series D+$527.4M$2.4B1.24×
Mineralys Therapeutics, Inc.Series D+$118.0M$2.4B1.23×
Endo, Inc.Series D+$170.6M$2.0B1.04×
TORL Biotherapeutics LLCSeries D+$158.3M$1.8B0.96×
UroGen Pharma Ltd.Series D+$120.0M$1.7B0.89×
Renibus Therapeutics, Inc.Series D+$180.1M$1.7B0.87×
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 A$6.9M2018-07-31$31.5M$214.5M90%
Series A$9.4M2018-07-31$42.6M$290.4M90%
Series B$37.4M2019-09-18$207.9M$1.3B90%
Series B$35.0M2021-02-25$194.4M$919.4M90%
Series B$35.0M2021-02-25$194.4M$919.4M90%
Series D+$270.0M2022-05-18$2.3B$5.5B90%
Series B$25.0M2022-05-18$138.9M$404.8M90%
Series D+$217.0M2022-05-18$1.8B$4.4B90%
Series D+$185.0M2022-10-21$1.5B$3.3B90%
Series D+$185.0M2022-10-21$1.5B$3.3B90%
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 A$6.9M2018-07-31
    • First recorded raise — entered as Series A.
    • 15 investors on this round.
  2. Series A$9.4M2018-07-31
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.4× larger than the prior — scaling up.
    • 31 investors on this round.
  3. Series B$37.4M2019-09-18
    • Raised 14 mo later, in step with the ~13 mo sector norm.
    • Round 4.0× larger than the prior — scaling up.
    • 10 investors on this round.
  4. Series B$35.0M2021-02-25
    • Raised 17 mo later, in step with the ~13 mo sector norm.
    • Round roughly the size of the prior one.
    • 21 investors on this round.
  5. Series B$35.0M2021-02-25
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 21 investors on this round.
  6. Series D+$270.0M2022-05-18
    • Raised 15 mo later, in step with the ~13 mo sector norm.
    • Round 7.7× larger than the prior — scaling up.
    • 42 investors on this round.
  7. Series B$25.0M2022-05-18
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 10.8× smaller than the prior — bridge or down round.
    • 35 investors on this round.
  8. Series D+$217.0M2022-05-18
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 8.7× larger than the prior — scaling up.
    • 42 investors on this round.
  9. Series D+$185.0M2022-10-21
    • Came back fast: 5 mo vs the ~13 mo sector norm.
    • Round roughly the size of the prior one.
    • 42 investors on this round.
  10. Series D+$185.0M2022-10-21
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 42 investors on this round.
Intelligence
2023 ~Q2
Modeled next raise · ~6mo cadence
$185.0M
Modeled next size est.range $185.0M$296.0M
1.0×
Last step-up
$89.2M/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
Antonio Gracias14 other2019-09
Patrick J. Morris7 other2022-05
Antonio J. Gracias6 other2022-05
Darien J. Parhad6 other2022-05
Jeffrey Aronin5 other2018-07
Patrick Morris5 other2018-07
Timothy Cunniff4 other2018-07
Darien Parhad3 other2018-07
Ricky J. Sun1 other2022-05
Eric J. Messner2022-05
Jeffrey J. Aronin2022-05
Jeffrey J. Dayno2022-05
Registry & provenance

Paragon Biosciences Emalex Capital, 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
1749990
SEC CIK
2018
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.

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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
Paragon Biosciences Skyline Capital, LLCPharmaceuticalsSeed$150.9M86%
Paragon Biosciences Evozyne Capital, LLCBiotechnologySeries A$342.5M84%
Paragon Bioservices, Inc.BiotechnologySeries A$180.8M83%
Paragon Biosciences Evozyne Holdings, LLCBiotechnologySeries A$325.4M83%
Paragon Therapeutics, Inc.BiotechnologySeries A$243.7M82%
Paragon Biosciences Qlarity Capital, Inc.PharmaceuticalsSeries B$510.1M81%
Paragon Biosciences CIRC Holdings, LLCBiotech / PharmaSeries B$512.4M81%
Paratus Diagnostics, LLCBiotechnologySeries A$188.2M74%
Frequently asked
How much funding has Paragon Biosciences Emalex Capital, Inc. raised?
Paragon Biosciences Emalex Capital, Inc. has raised approximately $376.8M in disclosed capital across 5 recorded financing rounds, aggregated from public filings.
What is Paragon Biosciences Emalex Capital, Inc.'s estimated valuation?
Provath's modeled valuation for Paragon Biosciences Emalex Capital, Inc. is approximately $5.5B (modeled range $1.3B–$9.7B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Paragon Biosciences Emalex Capital, Inc. at?
Paragon Biosciences Emalex Capital, Inc.'s latest modeled financing stage is Series D+. Its most recent recorded round closed around Wed May 18.
What does Paragon Biosciences Emalex Capital, Inc. do and where is it based?
Paragon Biosciences Emalex Capital, Inc. operates in the Pharmaceuticals sector, based in CHICACO. Paragon is a global life science leader that creates, builds and funds innovative biology-based companies to treat and cure diseases.
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