Companies · Pharma

Thiogenesis Therapeutics, Corp.

TORONTO · Pharma · refined from filed group “Other

Diligence memoA one-page analyst read on Thiogenesis Therapeutics, Corp. — recommendation, valuation, rhythm, risks.
$849K
Total raised · real
4
Rounds
0.5×
Latest step-up
Top 68%
Sector rank · raised
Pre-Seed
Latest stage · inferred · Wed Jul 30 2025 00:00:00 GMT+0000 (Coordinated Universal Time)

Thiogenesis Therapeutics, Corp. looks under-valued against its niche peers and is active 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.

Under-valued
  • Modeled value is 0.47× the median modeled value of Pre-Seed Pharma companies in 2025–2027 (8 peers) — value vs value, same stage and era.
Active
  • Last raise 11 mo ago; this sector typically re-raises about every 16 months.
  • Raising on or ahead of the sector's normal rhythm.
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 Pharma

Thiogenesis Therapeutics, Corp. is one of 310 Pharma companies tracked from TORONTO. By capital raised it ranks in the long tail (ahead of 33% of sector peers), and in the long tail 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
2025-07-30
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$2.5M$5.0M$7.5M$10MPre-Seed · 2021-07-30 Raised $253K (real) Modeled valuation $6.4M (est)$253K$6.4MPre-Seed2021Pre-Seed · 2022-11-18 Raised $218K (real) Modeled valuation $2.6M (est)$218K$2.6MPre-Seed2022Pre-Seed · 2023-12-15 Raised $252K (real) Modeled valuation $1.6M (est)$252K$1.6MPre-Seed2023Pre-Seed · 2025-07-30 Raised $125K (real) Modeled valuation $302K (est)$125K$302KPre-Seed2025+$218K+$252K+$125KCumulative $849K

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
Pre-Seed$253K · 2021
Pre-Seed extension$218K · 2022
Pre-Seed extension$252K · 2023
Pre-Seed extension$125K · 2025

Stages are modeled from round size (public records carry no series label). Ladder is contiguous — every modeled rung has a record.

Modeled valuation trajectory
$302K
Base estimate est.
$70K
Conservative case
$732K
Upside case
$697K
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Pre-Seeda round under $1.0M). Valuation is modeled from stage benchmarks scaled by the pharma sector profile. Directional, not a quoted figure.

Pre-Seed · modeled $6.4M · 2021-07-302021Pre-Seed · modeled $2.6M · 2022-11-18Pre-Seed · modeled $1.6M · 2023-12-15Pre-Seed · modeled $302K · 2025-07-302025
Model inputs · modeled:benchmark-stage-stepup-v1
18%
Dilution assumption
Implied ownership sold in the financing.
25%
Survival probability
10% low · 46% high
1.80×/yr
Annual markup
2.44×/yr upside case
0.9 yr
Elapsed time used
0.9 yr actual, capped for stale marks
pharma
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
16 mo
Avg between rounds
$212K/yr
Capital velocity
4.9 yr
On record since
2021
First round
4
Rounds on file
How it compares to the market

Benchmarked against 310 companies in Pharma. 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) 0.1× of median
This company$849K
Sector median$6.4M
Latest round — vs other Pre-Seed rounds in sector (real $, this stage) 0.4× of median
This company$125K
Sector median$307K
Modeled value — vs sector median (estimate, all stages) 0.0× of median
This company$302K
Sector median$62.5M

Raised more than 33% of sector peers (real $). Modeled value above 17% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Pre-Seed) 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 #6 of 8.

This companyCohort peer
$100K$1.0M$10.0M$100K$1.0M$10.0MCapital raised (log)Mizar Therapeutics, Inc. · Pre-Seed Raised $519K · modeled $1.4M (est)ReEngage Therapeutics, Inc. · Pre-Seed Raised $365K · modeled $951K (est)King Therapeutics LLC · Pre-Seed Raised $310K · modeled $807K (est)Dnp Therapeutics Inc · Pre-Seed Raised $470K · modeled $797K (est)Protibea Therapeutics, Inc. · Pre-Seed Raised $970K · modeled $481K (est)Cyana Therapeutics, LLC · Pre-Seed Raised $151K · modeled $300K (est)OncoRock Therapeutics Inc. · Pre-Seed Raised $125K · modeled $266K (est)Thiogenesis Therapeutics, Corp. (this company) Raised $849K · modeled $302K (est)Thiogenesis Therapeutics, Corp.
CompanyStageRaised · realValue · estvs peer med.
Mizar Therapeutics, Inc.Pre-Seed$519K$1.4M2.23×
ReEngage Therapeutics, Inc.Pre-Seed$365K$951K1.49×
King Therapeutics LLCPre-Seed$310K$807K1.26×
Dnp Therapeutics IncPre-Seed$470K$797K1.25×
Protibea Therapeutics, Inc.Pre-Seed$970K$481K0.75×
Thiogenesis Therapeutics, Corp. this companyPre-Seed$849K$302K0.47×
Cyana Therapeutics, LLCPre-Seed$151K$300K0.47×
OncoRock Therapeutics Inc.Pre-Seed$125K$266K0.42×
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.
Pre-Seed$253K2021-07-30$1.4M$6.4M90%
Pre-Seed$218K2022-11-18$1.2M$2.6M90%
Pre-Seed$252K2023-12-15$1.4M$1.6M90%
Pre-Seed$125K2025-07-30$697K$302K90%
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. Pre-Seed$253K2021-07-30
    • First recorded raise — entered as Pre-Seed.
    • 2 investors on this round.
  2. Pre-Seed$218K2022-11-18
    • Raised 16 mo later, in step with the ~16 mo sector norm.
    • Round roughly the size of the prior one.
    • 3 investors on this round.
  3. Pre-Seed$252K2023-12-15
    • Raised 13 mo later, in step with the ~16 mo sector norm.
    • Round roughly the size of the prior one.
    • 1 investor on this round.
  4. Pre-Seed$125K2025-07-30
    • Raised 19 mo later, in step with the ~16 mo sector norm.
    • Round 2.0× smaller than the prior — bridge or down round.
Intelligence
2026 ~Q4
Modeled next raise · ~16mo cadence
$125K
Modeled next size est.range $125K$201K
0.5×
Last step-up
$212K/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
Brook G. Riggins2021-07
Brook Riggins2022-11
Christopher G. Starr2023-12
Christopher W. Starr2022-11
Hogan W. Mullally2022-11
Kim G. Tsuchimoto2023-12
Kim W. Tsuchimoto2022-11
Neil A. Johnson2021-07
Patrice G. Rioux2023-12
Patrice Rioux2022-11
W. Hogan A. Mullally2021-07
W. Hogan G. Mullally2023-12
Registry & provenance

Thiogenesis Therapeutics, Corp. 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
1877778
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
Kyto Biopharma IncPharmaPre-Seed$845K$40.0Msame sector · same stage
Atacama Therapeutics, Inc.PharmaPre-Seed$830K$4.2Msame sector · same stage
Veterinary Radiation Oncology of the Chesapeake, LLCPharmaPre-Seed$925K$29.6Msame sector · same stage
Manzara Therapeutics, Inc.PharmaPre-Seed$750K$35.5Msame sector · same stage
JSK Therapeutics, Inc.PharmaPre-Seed$963K$45.5Msame sector · same stage
Protibea Therapeutics, Inc.PharmaPre-Seed$970K$481Ksame sector · same stage
UVLrx Therapeutics, Inc.PharmaPre-Seed$980K$9.7Msame sector · same stage
vivo-TIL Therapeutics, IncPharmaPre-Seed$990K$46.8Msame 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
Lattice Therapeutics, Inc.BiotechnologyPre-Seed$5.1M81%
ImmunoMolecular Therapeutics, Inc.BiotechnologySeries A$215.8M80%
Quanta Therapeutics, Inc.BiotechnologySeries C$699.4M80%
Window Therapeutics, Inc.BiotechnologySeries A$57.3M80%
Alloy Therapeutics, Inc.BiotechnologySeries C$736.9M80%
Athena Therapeutics, LLCBiotechnologySeed$43.5M79%
Arch Therapeutics, Inc.BiotechnologySeries A$58.0M79%
Immune Therapeutics, Inc.BiotechnologySeries A$63.6M79%
Frequently asked
How much funding has Thiogenesis Therapeutics, Corp. raised?
Thiogenesis Therapeutics, Corp. has raised approximately $849K in disclosed capital across 4 recorded financing rounds, aggregated from public filings.
What is Thiogenesis Therapeutics, Corp.'s estimated valuation?
Provath's modeled valuation for Thiogenesis Therapeutics, Corp. is approximately $302K (modeled range $70K–$732K). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Thiogenesis Therapeutics, Corp. at?
Thiogenesis Therapeutics, Corp.'s latest modeled financing stage is Pre-Seed. Its most recent recorded round closed around Wed Jul 30.
What does Thiogenesis Therapeutics, Corp. do and where is it based?
Thiogenesis Therapeutics, Corp. operates in the Pharma sector, based in TORONTO.
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