Diligence memo · auto-generated · as of July 3, 2026
TRex Holdings Inc.
TRex Holdings Inc. looks under-valued against its niche peers and is quiet on financing cadence.
Businessfiled
TRex Holdings Inc. operates in Biotechnology, based in SOUTH SAN FRANCISCO.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
TRex Holdings Inc. has raised $42M in disclosed capital across 1 recorded round, aggregated from public filings. Its latest round is modeled as Series C (a $40M–$100M round).
Largest single filing: $42M on 2024-11-07.
Most recent recorded round closed around 2024-11-07.
Valuation (modeled)modeled
Provath models TRex Holdings Inc. at approximately $330M (range $131M–$477M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Under-valued. Modeled value is 0.66× the median modeled value of Series C Biotechnology companies in 2022–2024 (111 peers) — value vs value, same stage and era.
Financing rhythm & timingmixed
Last raise 20 mo ago; this sector typically re-raises about every 14 months.
Slightly overdue versus sector cadence.
Comparablesmixed
Capital scale ranks ahead of 80% of Biotechnology peers (4293 compared).
Modeled value ranks above 78% of those peers.
Closest niche peers: Dianthus Therapeutics, Inc., Satellite Biosciences, Inc., Deepcell, Inc., Ventus Therapeutics U.S., Inc., Morphic Holding, Inc..
Peoplefiled
12 named people on file across officers, directors and signatories.
Risks & flagsmixed
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.