Companies · Pharmaceuticals

Tenax Therapeutics, Inc.

CHAPEL HILL · Pharmaceuticals

Diligence memoA one-page analyst read on Tenax Therapeutics, Inc. — recommendation, valuation, rhythm, risks.
$138.4M
Total raised · real
9
Rounds
12.5×
Latest step-up
Top 7%
Sector rank · raised
Series C
Latest stage · inferred · Thu Aug 08 2024 00:00:00 GMT+0000 (Coordinated Universal Time)

Tenax Therapeutics, Inc. looks fair 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 pharma 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 1.46× the median modeled value of Series C Pharmaceuticals companies in 2022–2024 (30 peers) — value vs value, same stage and era.
  • Within the normal band (146% of peer median) for its niche.
Quiet
  • Last raise 23 mo ago; this sector typically re-raises about every 13 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 Pharmaceuticals

Tenax Therapeutics, Inc. is one of 1613 Pharmaceuticals companies tracked from CHAPEL HILL. By capital raised it ranks among the largest (ahead of 94% of sector peers), and in the upper tier 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
24
Investors (latest)
2024-08-08
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$250M$500M$750M$1.0BSeries A · 2009-06-08 Raised $5.3M (real) Modeled valuation $163M (est)Series A2009Series A · 2009-07-01 Raised $1.9M (real) Modeled valuation $59M (est)Series A2009Series A · 2013-02-27 Raised $2.1M (real) Modeled valuation $65M (est)Series A2013Series A · 2013-08-22 Raised $4.6M (real) Modeled valuation $142M (est)Series A2013Series A · 2013-11-13 Raised $6.6M (real) Modeled valuation $204M (est)Series A2013Series A · 2020-03-13 Raised $317K (real) Modeled valuation $9.8M (est)Series A2020Series A · 2020-07-08 Raised $5.2M (real) Modeled valuation $159M (est)Series A2020Series A · 2021-07-08 Raised $10.0M (real) Modeled valuation $196M (est)Series A2021Series A · 2022-05-17 Raised $8.0M (real) Modeled valuation $107M (est)Series A2022Series C · 2024-08-08 Raised $100M (real) Modeled valuation $841M (est)Series C2024+$1.9M+$2.1M+$4.6M+$6.6M+$317K+$5.2M+$10.0M+$8.0M+$100MCumulative $144M

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$5.3M · 2009
Series A extension$1.9M · 2009
Series A extension$2.1M · 2013
Series A extension$4.6M · 2013
Series A extension$6.6M · 2013
Series A extension$317K · 2020
Series A extension$5.2M · 2020
Series A extension$10.0M · 2021
Series A extension$8.0M · 2022
Series C$99.7M · 2024no Series B on file

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series B — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 40%.

Modeled valuation trajectory
$841.5M
Base estimate est.
$323.8M
Conservative case
$1.3B
Upside case
$664.5M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Ca $40M–$100M round). Valuation is modeled from stage benchmarks scaled by the pharma sector profile. Directional, not a quoted figure.

Series A · modeled $162.6M · 2009-06-082009Series A · modeled $59.4M · 2009-07-01Series A · modeled $65.0M · 2013-02-27Series A · modeled $142.5M · 2013-08-22Series A · modeled $203.8M · 2013-11-13Series A · modeled $9.8M · 2020-03-13Series A · modeled $159.0M · 2020-07-08Series A · modeled $196.3M · 2021-07-08Series A · modeled $106.9M · 2022-05-17Series C · modeled $841.5M · 2024-08-082024
Model inputs · modeled:benchmark-stage-stepup-v1
15%
Dilution assumption
Implied ownership sold in the financing.
66%
Survival probability
49% low · 76% high
1.42×/yr
Annual markup
1.62×/yr upside case
1.9 yr
Elapsed time used
1.9 yr actual, capped for stale marks
pharma
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
20 mo
Avg between rounds
$9.1M/yr
Capital velocity
17.1 yr
On record since
2009
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) 17× above median
This company$138.4M
Sector median$8.1M
Latest round — vs other Series C rounds in sector (real $, this stage) 2.1× above median
This company$99.7M
Sector median$46.4M
Modeled value — vs sector median (estimate, all stages) 11× above median
This company$841.5M
Sector median$76.1M

Raised more than 94% of sector peers (real $). Modeled value above 87% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series C) 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 #8 of 30.

This companyCohort peer
$100.0M$1.0B$10.0B$10.0M$100.0M$1.0BCapital raised (log)Vigil Neuroscience, Inc. · Series C Raised $215.0M · modeled $1.3B (est)Leap Therapeutics, Inc. · Series C Raised $105.1M · modeled $1.1B (est)Alimera Sciences Inc · Series C Raised $173.8M · modeled $1.1B (est)VYNE Therapeutics Inc. · Series C Raised $139.5M · modeled $972.1M (est)Lusaris Therapeutics, Inc. · Series C Raised $60.2M · modeled $955.7M (est)Context Therapeutics Inc. · Series C Raised $100.0M · modeled $923.0M (est)Enliven Therapeutics, Inc. · Series C Raised $140.1M · modeled $867.9M (est)Faraday Pharmaceuticals, Inc. · Series C Raised $115.5M · modeled $830.5M (est)OnKure, Inc. · Series C Raised $123.2M · modeled $732.5M (est)Mind Medicine (MindMed) Inc. · Series C Raised $83.2M · modeled $730.2M (est)MBX Biosciences, Inc. · Series C Raised $74.8M · modeled $724.1M (est)Tenax Therapeutics, Inc. (this company) Raised $138.4M · modeled $841.5M (est)Tenax Therapeutics, Inc.
CompanyStageRaised · realValue · estvs peer med.
Vigil Neuroscience, Inc.Series C$215.0M$1.3B2.19×
Leap Therapeutics, Inc.Series C$105.1M$1.1B1.94×
Alimera Sciences IncSeries C$173.8M$1.1B1.91×
VYNE Therapeutics Inc.Series C$139.5M$972.1M1.69×
Lusaris Therapeutics, Inc.Series C$60.2M$955.7M1.66×
Context Therapeutics Inc.Series C$100.0M$923.0M1.60×
Enliven Therapeutics, Inc.Series C$140.1M$867.9M1.51×
Tenax Therapeutics, Inc. this companySeries C$138.4M$841.5M1.46×
Faraday Pharmaceuticals, Inc.Series C$115.5M$830.5M1.44×
OnKure, Inc.Series C$123.2M$732.5M1.27×
Mind Medicine (MindMed) Inc.Series C$83.2M$730.2M1.27×
MBX Biosciences, Inc.Series C$74.8M$724.1M1.26×
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$5.3M2009-06-08$23.9M$162.6M85%
Series A$1.9M2009-07-01$8.7M$59.4M85%
Series A$2.1M2013-02-27$9.5M$65.0M85%
Series A$4.6M2013-08-22$20.9M$142.5M85%
Series A$6.6M2013-11-13$29.9M$203.8M85%
Series A$317K2020-03-13$1.4M$9.8M90%
Series A$5.2M2020-07-08$23.5M$159.0M90%
Series A$10.0M2021-07-08$45.5M$196.3M90%
Series A$8.0M2022-05-17$36.4M$106.9M90%
Series C$99.7M2024-08-08$664.5M$841.5M90%
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$5.3M2009-06-08
    • First recorded raise — entered as Series A.
    • 2 investors on this round.
  2. Series A$1.9M2009-07-01
    • Came back fast: 1 mo vs the ~13 mo sector norm.
    • Round 2.7× smaller than the prior — bridge or down round.
  3. Series A$2.1M2013-02-27
    • Raised again after 44 mo — slower than the ~13 mo sector norm.
    • Round roughly the size of the prior one.
    • Revenue band moved No revenue → $0–$1M.
    • 2 investors on this round.
  4. Series A$4.6M2013-08-22
    • Came back fast: 6 mo vs the ~13 mo sector norm.
    • Round 2.2× larger than the prior — scaling up.
    • Revenue band moved $0–$1M → $1M–$5M.
    • 1 investor on this round.
  5. Series A$6.6M2013-11-13
    • Came back fast: 3 mo vs the ~13 mo sector norm.
    • Round 1.4× larger than the prior — scaling up.
    • Switched to Rule 506(b) (was Rule 06).
    • 4 investors on this round.
  6. Series A$317K2020-03-13
    • Raised again after 76 mo — slower than the ~13 mo sector norm.
    • Round 20.7× smaller than the prior — bridge or down round.
    • 1 investor on this round.
  7. Series A$5.2M2020-07-08
    • Came back fast: 4 mo vs the ~13 mo sector norm.
    • Round 16.3× larger than the prior — scaling up.
    • 1 investor on this round.
  8. Series A$10.0M2021-07-08
    • Raised 12 mo later, in step with the ~13 mo sector norm.
    • Round 1.9× larger than the prior — scaling up.
    • 1 investor on this round.
  9. Series A$8.0M2022-05-17
    • Raised 10 mo later, in step with the ~13 mo sector norm.
    • Round roughly the size of the prior one.
    • 1 investor on this round.
  10. Series C$99.7M2024-08-08
    • Raised again after 27 mo — slower than the ~13 mo sector norm.
    • Round 12.5× larger than the prior — scaling up.
    • 24 investors on this round.
Intelligence
2026 ~Q2
Modeled next raise · ~20mo cadence
$299.0M
Modeled next size est.range $194.4M$478.5M
12.5×
Last step-up
$9.1M/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
Gerald T. Proehl4 other2022-05
John Kelley4 other2013-11
Chris A. Rallis2 other2013-02
Anthony A. DiTonno1 other2013-02
Gerald Klein1 other2009-06
Steven T. Boyd1 other2022-05
Bruce Spiess2009-06
Charles Seeman2009-06
Chris Stern2009-06
Christopher T. Giordano2022-05
Declan R. Doogan2024-08
Declan T. Doogan2022-05
Eliot T. Lurier2022-05
Gerald A. Proehl2020-03
Gregory R. Pepin2013-02
James R. Mitchum2020-03
June M. Almenoff2024-08
June T. Almenoff2022-05
Keith T. Maher2022-05
Lawrence R. Hoffman2024-08
Melville Engle2009-06
Michael B. Jebsen2013-02
Michael Jebsen2021-07
Michael R. Davidson2024-08
Registry & provenance

Tenax Therapeutics, 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
34956
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
Mirum Pharmaceuticals, Inc.PharmaceuticalsSeries C$138.5M$348.3Msame sector · same stage
VYNE Therapeutics Inc.PharmaceuticalsSeries C$139.5M$972.1Msame sector · same stage
Enliven Therapeutics, Inc.PharmaceuticalsSeries C$140.1M$867.9Msame sector · same stage
Apellis Pharmaceuticals, Inc.PharmaceuticalsSeries C$140.2M$703.0Msame sector · same stage
Arthrosi Therapeutics, Inc.PharmaceuticalsSeries C$132.9M$385.6Msame sector · same stage
Zogenix IncPharmaceuticalsSeries C$131.2M$526.4Msame sector · same stage
Cambrian BioPharma IncPharmaceuticalsSeries C$148.4M$293.3Msame sector · same stage
Aeovian Pharmaceuticals, Inc.PharmaceuticalsSeries C$125.0M$297.8Msame 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
Ten63 Therapeutics, Inc.PharmaSeed$62.5M85%
Solaxa Inc.PharmaceuticalsPre-Seed$1.3M84%
Cardax, Inc.PharmaceuticalsSeed$4.1M82%
TesoRx Pharma, LLCPharmaceuticalsSeries A$9.0M81%
TP Therapeutics, Inc.PharmaceuticalsSeries C$2.8B81%
Temprian Therapeutics, Inc.PharmaceuticalsPre-Seed$13.0M80%
T3D Therapeutics, Inc.PharmaceuticalsSeries A$70.9M79%
Virpax Pharmaceuticals, Inc.PharmaceuticalsSeed$11.8M79%
Frequently asked
How much funding has Tenax Therapeutics, Inc. raised?
Tenax Therapeutics, Inc. has raised approximately $138.4M in disclosed capital across 9 recorded financing rounds, aggregated from public filings.
What is Tenax Therapeutics, Inc.'s estimated valuation?
Provath's modeled valuation for Tenax Therapeutics, Inc. is approximately $841.5M (modeled range $323.8M–$1.3B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Tenax Therapeutics, Inc. at?
Tenax Therapeutics, Inc.'s latest modeled financing stage is Series C. Its most recent recorded round closed around Thu Aug 08.
What does Tenax Therapeutics, Inc. do and where is it based?
Tenax Therapeutics, Inc. operates in the Pharmaceuticals sector, based in CHAPEL HILL.
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