Companies · Biotechnology

Tentarix Biotherapeutics, LP

San Diego · Biotechnology

Diligence memoA one-page analyst read on Tentarix Biotherapeutics, LP — recommendation, valuation, rhythm, risks.
$43.0M
Total raised · real
2
Rounds
4.4×
Latest step-up
Top 21%
Sector rank · raised
Series B
Latest stage · inferred · Mon Aug 28 2023 00:00:00 GMT+0000 (Coordinated Universal Time)

Tentarix Biotherapeutics, LP looks over-valued against its niche peers and is at-risk 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.

Over-valued
  • Modeled value is 2.14× the median modeled value of Series B Biotechnology companies in 2022–2024 (197 peers) — value vs value, same stage and era.
At-risk
  • Last raise 2.8 yr ago; this sector typically re-raises about every 14 months.
  • Past due for a raise versus sector cadence — watch for distress or a bridge.

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

Issuer-vehicle patternmedium confidence

Tentarix Biotherapeutics, LP 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
6.0 yr record
Peak capital year was 2023 with $35.0M across 1 filings.
Market position
ahead of 80% of Biotechnology peers
Capital scale is ahead of 80% of Biotechnology peers; modeled value is above 79% 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 2023: $35.0M across 1 filings.
  • Largest single filing was $35.0M on 2023-08-28.
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.
  • The more important signal is lifecycle: repeated filings ended years ago, so current activity needs outside confirmation.
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

Tentarix Biotherapeutics, LP is one of 4293 Biotechnology companies tracked from San Diego. By capital raised it ranks in the upper tier (ahead of 80% 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.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
5
Investors (latest)
2020
Year incorporated
2023-08-28
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$125M$250M$375M$500MSeries A · 2020-07-13 Raised $8.0M (real) Modeled valuation $285M (est)$8.0M$285MSeries A2020Series B · 2023-08-28 Raised $35M (real) Modeled valuation $359M (est)$35M$359MSeries B2023+$35MCumulative $43M

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$8.0M · 2020
Series B$35.0M · 2023

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed — 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
$358.6M
Base estimate est.
$70.0M
Conservative case
$754.4M
Upside case
$194.4M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Ba $15M–$40M round). Valuation is modeled from stage benchmarks scaled by the biotech sector profile. Directional, not a quoted figure.

Series A · modeled $284.8M · 2020-07-132020Series B · modeled $358.6M · 2023-08-282023
Model inputs · modeled:benchmark-stage-stepup-v1
18%
Dilution assumption
Implied ownership sold in the financing.
54%
Survival probability
36% low · 66% high
1.54×/yr
Annual markup
1.86×/yr upside case
2.8 yr
Elapsed time used
2.8 yr actual, capped for stale marks
biotech
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
37 mo
Avg between rounds
$13.8M/yr
Capital velocity
6.0 yr
On record since
2020
First round
2
Rounds on file
How it compares to the market

Benchmarked against 4293 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) 6.0× above median
This company$43.0M
Sector median$7.2M
Latest round — vs other Series B rounds in sector (real $, this stage) 2.0× above median
This company$35.0M
Sector median$17.5M
Modeled value — vs sector median (estimate, all stages) 5.6× above median
This company$358.6M
Sector median$64.2M

Raised more than 80% of sector peers (real $). Modeled value above 79% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series B) 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 #35 of 197.

This companyCohort peer
$100.0M$1.0B$10.0M$100.0M$1.0BCapital raised (log)Mt McKinley Medical Holding Corp USA · Series B Raised $40.0M · modeled $738.4M (est)YAP Therapeutics Inc · Series B Raised $30.1M · modeled $618.3M (est)Pinteon Therapeutics, Inc. · Series B Raised $39.2M · modeled $603.8M (est)OncXerna Therapeutics, Ltd. · Series B Raised $30.0M · modeled $591.4M (est)EpiBiologics, Inc. · Series B Raised $30.0M · modeled $570.2M (est)GIOGI Ltd · Series B Raised $27.3M · modeled $554.5M (est)SonoThera, Inc. · Series B Raised $30.4M · modeled $550.9M (est)Perceive Biotherapeutics, Inc. · Series B Raised $40.0M · modeled $544.6M (est)GIOCAN Ltd · Series B Raised $24.5M · modeled $498.6M (est)GIODIA Ltd · Series B Raised $24.5M · modeled $498.6M (est)GIOHEALTH Ltd · Series B Raised $24.5M · modeled $498.6M (est)Cerapedics Inc · Series B Raised $99.1M · modeled $492.3M (est)Tentarix Biotherapeutics, LP (this company) Raised $43.0M · modeled $358.6M (est)Tentarix Biotherapeutics, LP
CompanyStageRaised · realValue · estvs peer med.
Mt McKinley Medical Holding Corp USASeries B$40.0M$738.4M4.41×
YAP Therapeutics IncSeries B$30.1M$618.3M3.69×
Pinteon Therapeutics, Inc.Series B$39.2M$603.8M3.60×
OncXerna Therapeutics, Ltd.Series B$30.0M$591.4M3.53×
EpiBiologics, Inc.Series B$30.0M$570.2M3.40×
GIOGI LtdSeries B$27.3M$554.5M3.31×
SonoThera, Inc.Series B$30.4M$550.9M3.29×
Perceive Biotherapeutics, Inc.Series B$40.0M$544.6M3.25×
GIOCAN LtdSeries B$24.5M$498.6M2.97×
GIODIA LtdSeries B$24.5M$498.6M2.97×
GIOHEALTH LtdSeries B$24.5M$498.6M2.97×
Cerapedics IncSeries B$99.1M$492.3M2.94×
Tentarix Biotherapeutics, LP this companySeries B$43.0M$358.6M2.14×
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$8.0M2020-07-13$36.4M$284.8M90%
Series B$35.0M2023-08-28$194.4M$358.6M90%
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. Series A$8.0M2020-07-13
    • First recorded raise — entered as Series A.
    • 4 investors on this round.
  2. Series B$35.0M2023-08-28
    • Raised again after 37 mo — slower than the ~14 mo sector norm.
    • Round 4.4× larger than the prior — scaling up.
    • 5 investors on this round.
Intelligence
2026 ~Q4
Modeled next raise · ~37mo cadence
$105.0M
Modeled next size est.range $68.2M$168.0M
4.4×
Last step-up
$13.8M/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
Jerel Davis12 other2020-07
Srinivas Akkaraju9 other2020-07
PAUL Grayson4 other2020-07
Cory Freedland2 other2020-07
Donald J. Santel1 other2023-08
Allyson F. Tighe2023-08
Alyssa Lochbaum2020-07
Margaret F. Karow2023-08
Paul Kang2020-07
Stephen F. Demarest2023-08
Thomas F. Bumol2023-08
Registry & provenance

Tentarix Biotherapeutics, LP 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
1822549
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
Firefly Bio, Inc.BiotechnologySeries B$40.0M$359.3Mnetwork1 shared operator · same sector · same stage
Mistral Therapeutics, Inc.BiotechnologySeries B$36.4M$1.0Bnetwork1 shared operator · same sector · same stage
Santa Ana Bio, Inc.BiotechnologySeries B$63.3M$150.6Mnetwork1 shared operator · same sector · same stage
OrsoBio, Inc.BiotechnologySeries C$124.6M$340.8Mnetwork2 shared operators · same sector
Chinook Therapeutics U.S., Inc.BiotechnologySeries D+$180.0M$4.5Bnetwork2 shared operators · same sector
Ophthotech Corp.BiotechnologySeries B$43.1M$452.5Msame sector · same stage
Applied Genetic Technologies CorpBiotechnologySeries B$42.9M$340.5Msame sector · same stage
Logical Therapeutics IncBiotechnologySeries B$42.5M$396.9Msame 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
GeneTx Biotherapeutics LLCBiotechnologySeries A$228.6M82%
Salarius Pharmaceuticals, Inc.BiotechnologySeries B$57.8M81%
BioLineRx Ltd.PharmaceuticalsSeries A$136.1M81%
Agilis Biotherapeutics, Inc.BiotechnologySeries A$458.0M81%
Eleven Biotherapeutics, Inc.BiotechnologySeries B$39.5M81%
Claris Biotherapeutics, Inc.BiotechnologySeries C$13.0M81%
Arcutis Biotherapeutics, Inc.BiotechnologySeries C$3.9B81%
Virax Biolabs Group LtdBiotechnologySeries A$13.2M81%
Frequently asked
How much funding has Tentarix Biotherapeutics, LP raised?
Tentarix Biotherapeutics, LP has raised approximately $43.0M in disclosed capital across 2 recorded financing rounds, aggregated from public filings.
What is Tentarix Biotherapeutics, LP's estimated valuation?
Provath's modeled valuation for Tentarix Biotherapeutics, LP is approximately $358.6M (modeled range $70.0M–$754.4M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Tentarix Biotherapeutics, LP at?
Tentarix Biotherapeutics, LP's latest modeled financing stage is Series B. Its most recent recorded round closed around Mon Aug 28.
What does Tentarix Biotherapeutics, LP do and where is it based?
Tentarix Biotherapeutics, LP operates in the Biotechnology sector, based in San Diego.
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