Diligence memo · auto-generated · as of July 2, 2026
Ten Bay Bio, Inc.
Ten Bay Bio, Inc. looks over-valued against its niche peers and is quiet on financing cadence.
Businessfiled
Ten Bay Bio, Inc. operates in Biotech / Pharma, based in MILWAUKEE.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Ten Bay Bio, Inc. has raised $12M in disclosed capital across 1 recorded round, aggregated from public filings. Its latest round is modeled as Series A (a $4.0M–$15M round).
Largest single filing: $12M on 2024-07-23.
Most recent recorded round closed around 2024-07-23.
Valuation (modeled)modeled
Provath models Ten Bay Bio, Inc. at approximately $58M (range $13M–$125M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Over-valued. Modeled value is 1.50× the median modeled value of Series A Biotech / Pharma companies in 2022–2024 (21 peers) — value vs value, same stage and era.
Financing rhythm & timingmixed
Last raise 23 mo ago; this sector typically re-raises about every 15 months.
Slightly overdue versus sector cadence.
Comparablesmixed
Capital scale ranks ahead of 63% of Biotech / Pharma peers (227 compared).
Modeled value ranks above 63% of those peers.
Closest niche peers: Laxmi Therapeutic Devices, Inc., Accipiter Biosciences Inc., Nanospectra Biosciences Inc, Genomic Life, Inc., NJ BIO, Inc..
Peoplefiled
5 named people on file across officers, directors and signatories.
Risks & flagsmixed
Modeled above niche peers — valuation risk on entry.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.