Companies · Pharmaceuticals

Triana Biomedicines, Inc.

LEXINGTON · Pharmaceuticals

Diligence memoA one-page analyst read on Triana Biomedicines, Inc. — recommendation, valuation, rhythm, risks.
$178.6M
Total raised · real
4
Rounds
3.5×
Latest step-up
Top 5%
Sector rank · raised
Series D+
Latest stage · inferred · Wed Nov 26 2025 00:00:00 GMT+0000 (Coordinated Universal Time)

Triana Biomedicines, Inc. looks fair 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.

Fair
  • Modeled value is 0.95× the median modeled value of Series D+ Pharmaceuticals companies in 2025–2027 (7 peers) — value vs value, same stage and era.
  • Within the normal band (95% of peer median) for its niche.
Active
  • Last raise 7 mo ago; this sector typically re-raises about every 13 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 Pharmaceuticals

Triana Biomedicines, Inc. is one of 1613 Pharmaceuticals companies tracked from LEXINGTON. By capital raised it ranks among the largest (ahead of 96% 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
20
Investors (latest)
2025-11-26
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 · 2020-05-22 Raised $6.0M (real) Modeled valuation $186M (est)$6.0M$186MSeries A2020Series A · 2021-09-03 Raised $10M (real) Modeled valuation $183M (est)$10M$183MSeries A2021Series C · 2022-01-28 Raised $43M (real) Modeled valuation $864M (est)$43M$864MSeries C2022Series B · 2022-01-28 Raised $35M (real) Modeled valuation $635M (est)$35M$635MSeries B2022Series D+ · 2025-11-26 Raised $120M (real) Modeled valuation $853M (est)$120M$853MSeries D+2025+$10M+$43M+$35M+$120MCumulative $213M

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$6.0M · 2020
Series A extension$10.0M · 2021
Series C$42.6M · 2022no Series B on file
Bridge · Series C-stage$34.8M · 2022smaller follow-on
Series D+$120.1M · 2025

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: 67%.

Modeled valuation trajectory
$852.8M
Base estimate est.
$571.5M
Conservative case
$1.0B
Upside case
$1.0B
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series D+a $100M–$400M round). Valuation is modeled from stage benchmarks scaled by the pharma sector profile. Directional, not a quoted figure.

Series A · modeled $185.8M · 2020-05-222020Series A · modeled $183.0M · 2021-09-03Series C · modeled $863.9M · 2022-01-28Series B · modeled $634.8M · 2022-01-28Series D+ · modeled $852.8M · 2025-11-262025
Model inputs · modeled:benchmark-stage-stepup-v1
12%
Dilution assumption
Implied ownership sold in the financing.
71%
Survival probability
57% low · 79% high
1.35×/yr
Annual markup
1.51×/yr upside case
0.6 yr
Elapsed time used
0.6 yr actual, capped for stale marks
pharma
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
17 mo
Avg between rounds
$32.4M/yr
Capital velocity
6.1 yr
On record since
2020
First round
5
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) 22× above median
This company$178.6M
Sector median$8.1M
Latest round — vs other Series D+ rounds in sector (real $, this stage) 1.1× above median
This company$120.1M
Sector median$111.8M
Modeled value — vs sector median (estimate, all stages) 11× above median
This company$852.8M
Sector median$76.1M

Raised more than 96% 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 D+) 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 #5 of 7.

This companyCohort peer
$100.0M$1.0B$10.0B$100.0M$1.0BCapital raised (log)DBV Technologies S.A. · Series D+ Raised $306.9M · modeled $2.6B (est)Galecto, Inc. · Series D+ Raised $428.3M · modeled $2.0B (est)NovaBay Pharmaceuticals, Inc. · Series D+ Raised $218.1M · modeled $913.2M (est)Pelage Pharmaceuticals, Inc. · Series D+ Raised $150.7M · modeled $901.6M (est)Quoin Pharmaceuticals, Ltd. · Series D+ Raised $113.8M · modeled $774.2M (est)Lexicon Pharmaceuticals, Inc. · Series D+ Raised $446.0M · modeled $374.2M (est)Triana Biomedicines, Inc. (this company) Raised $178.6M · modeled $852.8M (est)Triana Biomedicines, Inc.
CompanyStageRaised · realValue · estvs peer med.
DBV Technologies S.A.Series D+$306.9M$2.6B2.92×
Galecto, Inc.Series D+$428.3M$2.0B2.27×
NovaBay Pharmaceuticals, Inc.Series D+$218.1M$913.2M1.01×
Pelage Pharmaceuticals, Inc.Series D+$150.7M$901.6M1.00×
Triana Biomedicines, Inc. this companySeries D+$178.6M$852.8M0.95×
Quoin Pharmaceuticals, Ltd.Series D+$113.8M$774.2M0.86×
Lexicon Pharmaceuticals, Inc.Series D+$446.0M$374.2M0.42×
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.
Series A$6.0M2020-05-22$27.3M$185.8M90%
Series A$10.0M2021-09-03$45.5M$183.0M90%
Series C$42.6M2022-01-28$283.7M$863.9M90%
Series B$34.8M2022-01-28$193.3M$634.8M90%
Series D+$120.1M2025-11-26$1.0B$852.8M90%
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$6.0M2020-05-22
    • First recorded raise — entered as Series A.
    • 3 investors on this round.
  2. Series A$10.0M2021-09-03
    • Raised 15 mo later, in step with the ~13 mo sector norm.
    • Round 1.7× larger than the prior — scaling up.
    • 1 investor on this round.
  3. Series C$42.6M2022-01-28
    • Came back fast: 5 mo vs the ~13 mo sector norm.
    • Round 4.3× larger than the prior — scaling up.
    • 14 investors on this round.
  4. Series B$34.8M2022-01-28
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 12 investors on this round.
  5. Series D+$120.1M2025-11-26
    • Raised again after 46 mo — slower than the ~13 mo sector norm.
    • Round 3.5× larger than the prior — scaling up.
    • 20 investors on this round.
Intelligence
2027 ~Q2
Modeled next raise · ~17mo cadence
$360.2M
Modeled next size est.range $234.1M$576.3M
3.5×
Last step-up
$32.4M/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
ANDREW LEVIN16 other2020-05
Joshua Resnick11 other2020-05
Shelley Chu9 other2022-01
Christopher O'Donnell7 other2025-11
David Grayzel5 other2021-09
Andrew Hedin4 other2025-11
Lorence Kim4 other2025-11
Milind Deshpande3 other2020-05
Jigar Raythatha1 other2022-01
Christopher O'Donnel2022-01
Nathaniel Brooks Horwitz2020-05
Patrick Trojer2022-01
Simon Read2021-09
Registry & provenance

Triana Biomedicines, 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
1815337
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
Eliem Therapeutics, Inc.PharmaceuticalsSeries D+$253.2M$1.3Bnetwork1 shared operator · same sector · same stage
Aerovate Therapeutics, Inc.PharmaceuticalsSeries C$78.3M$2.6Bnetwork2 shared operators · same sector
Avilar Therapeutics, Inc.PharmaceuticalsSeries C$75.3M$2.3Bnetwork2 shared operators · same sector
Seismic Therapeutic, Inc.Biotech / PharmaSeries D+$146.3M$1.9Bnetwork2 shared operators · same stage
ADARx Pharmaceuticals, Inc.PharmaceuticalsSeries D+$352.5M$2.8Bnetwork1 shared operator · same sector · same stage
Athenen Therapeutics, Inc.PharmaceuticalsSeries A$12.0M$371.7Mnetwork2 shared operators · same sector
Arcuate Therapeutics, Inc.PharmaceuticalsSeries A$5.0M$154.9Mnetwork2 shared operators · same sector
Enlaza Therapeutics, Inc.PharmaceuticalsSeries C$134.6M$87.7Mnetwork1 shared operator · same sector
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
Tricida, Inc.PharmaceuticalsSeries C$2.0B88%
Tris Pharma, Inc.PharmaceuticalsSeries D+$4.4B87%
Triton Therapeutics, Inc.PharmaceuticalsSeries B$152.5M87%
Trieza Therapeutics, Inc.PharmaceuticalsSeries A$185.8M86%
Trigr Therapeutics, Inc.PharmaceuticalsSeries A$154.9M85%
Trillium Therapeutics Inc.PharmaceuticalsSeries B$679.2M82%
Aya Biosciences, Inc.PharmaceuticalsSeries A$129.3M81%
Triumvira Immunologics Inc.BiotechnologySeries C$1.8B81%
Frequently asked
How much funding has Triana Biomedicines, Inc. raised?
Triana Biomedicines, Inc. has raised approximately $178.6M in disclosed capital across 4 recorded financing rounds, aggregated from public filings.
What is Triana Biomedicines, Inc.'s estimated valuation?
Provath's modeled valuation for Triana Biomedicines, Inc. is approximately $852.8M (modeled range $571.5M–$1.0B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Triana Biomedicines, Inc. at?
Triana Biomedicines, Inc.'s latest modeled financing stage is Series D+. Its most recent recorded round closed around Wed Nov 26.
What does Triana Biomedicines, Inc. do and where is it based?
Triana Biomedicines, Inc. operates in the Pharmaceuticals sector, based in LEXINGTON.
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