Companies · Biotech / Pharma

TwinStrand Biosciences, Inc.

SEATTLE · Biotech / Pharma · refined from filed group “Other Technology

Diligence memoA one-page analyst read on TwinStrand Biosciences, Inc. — recommendation, valuation, rhythm, risks.
$85.0M
Total raised · real
6
Rounds
0.2×
Latest step-up
Top 8%
Sector rank · raised
Series C
Latest stage · inferred · Tue Jun 20 2023 00:00:00 GMT+0000 (Coordinated Universal Time)

TwinStrand Biosciences, Inc. looks under-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/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 0.26× the median modeled value of Series C Biotech / Pharma companies in 2022–2024 (8 peers) — value vs value, same stage and era.
At-risk
  • Last raise 3.0 yr ago; this sector typically re-raises about every 15 months.
  • Past due for a raise versus sector cadence — watch for distress or a bridge.
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 Biotech / Pharma

TwinStrand Biosciences, Inc. is one of 227 Biotech / Pharma companies tracked from SEATTLE. By capital raised it ranks among the largest (ahead of 93% 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
9
Investors (latest)
2023-06-20
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$500M$1.0B$1.5B$2.0BSeed · 2016-06-10 Raised $1.9M (real) Modeled valuation $80M (est)$1.9M$80MSeed2016Series A · 2017-08-30 Raised $5.3M (real) Modeled valuation $177M (est)$5.3M$177MSeries A2017Series A · 2018-08-15 Raised $1.2M (real) Modeled valuation $39M (est)$1.2M$39MSeries A2018Series B · 2019-12-16 Raised $16M (real) Modeled valuation $600M (est)$16M$600MSeries B2019Series C · 2021-04-30 Raised $50M (real) Modeled valuation $1.4B (est)$50M$1.4BSeries C2021Series C · 2023-06-20 Raised $10M (real) Modeled valuation $132M (est)$10M$132MSeries C2023+$5.3M+$1.2M+$16M+$50M+$10MCumulative $85M

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
Seed$1.9M · 2016
Series A$5.3M · 2017
Series A extension$1.2M · 2018
Series B$16.3M · 2019
Series C$50.0M · 2021
Series C extension$10.3M · 2023

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 80%.

Modeled valuation trajectory
$132.4M
Base estimate est.
$32.6M
Conservative case
$231.9M
Upside case
$68.5M
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 biotech/pharma sector profile. Directional, not a quoted figure.

Seed · modeled $79.8M · 2016-06-102016Series A · modeled $176.9M · 2017-08-30Series A · modeled $39.4M · 2018-08-15Series B · modeled $599.6M · 2019-12-16Series C · modeled $1.4B · 2021-04-30Series C · modeled $132.4M · 2023-06-202023
Model inputs · modeled:benchmark-stage-stepup-v1
15%
Dilution assumption
Implied ownership sold in the financing.
64%
Survival probability
48% low · 74% high
1.44×/yr
Annual markup
1.65×/yr upside case
3.0 yr
Elapsed time used
3.0 yr actual, capped for stale marks
biotech/pharma
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
17 mo
Avg between rounds
$12.1M/yr
Capital velocity
10.1 yr
On record since
2016
First round
6
Rounds on file
How it compares to the market

Benchmarked against 227 companies in Biotech / 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) 15× above median
This company$85.0M
Sector median$5.6M
Latest round — vs other Series C rounds in sector (real $, this stage) 0.2× of median
This company$10.3M
Sector median$48.1M
Modeled value — vs sector median (estimate, all stages) 4.3× above median
This company$132.4M
Sector median$30.5M

Raised more than 93% of sector peers (real $). Modeled value above 75% 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 #7 of 8.

This companyCohort peer
$10.0M$100.0M$1.0B$10.0B$10.0M$100.0M$1.0BCapital raised (log)Sherlock Biosciences, Inc. · Series C Raised $112.8M · modeled $1.7B (est)Pacific Biosciences Of California, Inc. · Series C Raised $190.3M · modeled $982.0M (est)Sudo Biosciences, Inc. · Series C Raised $73.1M · modeled $685.8M (est)Elephas Biosciences Corp · Series C Raised $113.7M · modeled $560.6M (est)NOLA PharmaHoldings, LLC · Series C Raised $48.1M · modeled $448.1M (est)Belenos Biosciences, Inc. · Series C Raised $48.0M · modeled $421.4M (est)Manus Bio Inc. · Series C Raised $118.0M · modeled $108.4M (est)TwinStrand Biosciences, Inc. (this company) Raised $85.0M · modeled $132.4M (est)TwinStrand Biosciences, Inc.
CompanyStageRaised · realValue · estvs peer med.
Sherlock Biosciences, Inc.Series C$112.8M$1.7B3.29×
Pacific Biosciences Of California, Inc.Series C$190.3M$982.0M1.95×
Sudo Biosciences, Inc.Series C$73.1M$685.8M1.36×
Elephas Biosciences CorpSeries C$113.7M$560.6M1.11×
NOLA PharmaHoldings, LLCSeries C$48.1M$448.1M0.89×
Belenos Biosciences, Inc.Series C$48.0M$421.4M0.84×
TwinStrand Biosciences, Inc. this companySeries C$85.0M$132.4M0.26×
Manus Bio Inc.Series C$118.0M$108.4M0.21×
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.
Seed$1.9M2016-06-10$9.7M$79.8M85%
Series A$5.3M2017-08-30$24.0M$176.9M90%
Series A$1.2M2018-08-15$5.4M$39.4M90%
Series B$16.3M2019-12-16$90.6M$599.6M90%
Series C$50.0M2021-04-30$333.3M$1.4B90%
Series C$10.3M2023-06-20$68.5M$132.4M90%
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. Seed$1.9M2016-06-10
    • First recorded raise — entered as Seed.
    • 18 investors on this round.
  2. Series A$5.3M2017-08-30
    • Raised 15 mo later, in step with the ~15 mo sector norm.
    • Round 2.7× larger than the prior — scaling up.
    • 39 investors on this round.
  3. Series A$1.2M2018-08-15
    • Raised 11 mo later, in step with the ~15 mo sector norm.
    • Round 4.5× smaller than the prior — bridge or down round.
    • 23 investors on this round.
  4. Series B$16.3M2019-12-16
    • Raised 16 mo later, in step with the ~15 mo sector norm.
    • Round 13.8× larger than the prior — scaling up.
    • 45 investors on this round.
  5. Series C$50.0M2021-04-30
    • Raised 16 mo later, in step with the ~15 mo sector norm.
    • Round 3.1× larger than the prior — scaling up.
    • 21 investors on this round.
  6. Series C$10.3M2023-06-20
    • Raised again after 26 mo — slower than the ~15 mo sector norm.
    • Round 4.9× smaller than the prior — bridge or down round.
    • 9 investors on this round.
Intelligence
2024 ~Q4
Modeled next raise · ~17mo cadence
$10.3M
Modeled next size est.range $10.3M$16.4M
0.2×
Last step-up
$12.1M/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
Chad Waite10 other2019-12
Steve Dow6 other2017-08
Soma Somasegar4 other2021-04
Jason Myers3 other2023-06
Michael Pellini3 other2021-04
Christopher Benoit2 other2018-08
Jesse Salk2 other2016-06
Mike Pellini2 other2023-06
Chris Igielski1 other2017-08
DAVID CANNER1 other2023-06
Linden Rhoads1 other2016-06
Michael Kranda1 other2016-06
Ronnie Andrews1 other2023-06
Chad Waite, Jr.2016-06
Elena Cant2021-04
KAREN DABBS2021-04
Kellie Bickel2021-04
Lawrence Loeb2016-06
Michael Schmitt2016-06
Michele Fernandes2019-12
Terry Myerson2019-12
Registry & provenance

TwinStrand Biosciences, 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
1677173
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
Alpha Source, Inc.Other TechnologySeries C$102.7M$154.9Mnetwork2 shared operators · same stage
Sudo Biosciences, Inc.Biotech / PharmaSeries C$73.1M$685.8Msame sector · same stage
Apiom, Inc.OtherSeries C$86.9M$912.6Mnetwork1 shared operator · same stage
Sherlock Biosciences, Inc.Biotech / PharmaSeries C$112.8M$1.7Bsame sector · same stage
Elephas Biosciences CorpBiotech / PharmaSeries C$113.7M$560.6Msame sector · same stage
Manus Bio Inc.Biotech / PharmaSeries C$118.0M$108.4Msame sector · same stage
Life Biosciences LLCBiotech / PharmaSeries C$123.4M$2.8Bsame sector · same stage
RelationalAI, Inc.Other TechnologySeries C$74.0M$1.4Bnetwork1 shared operator · 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
Twin Health, Inc.HealthtechSeries D+$421.6M87%
Twine Health, Inc.HealthtechPre-Seed$25.9M86%
Nexion Biosciences IncBiotech / PharmaPre-Seed$41.6M85%
Double Blind Bio Inc.Biotech / PharmaSeries A$14.9M84%
Pandora Bio, Inc.Biotech / PharmaPre-Seed$3.7M84%
Iota Biosciences, Inc.Biotech / PharmaSeries B$551.7M84%
Orbis Biosciences, IncBiotech / PharmaPre-Seed$50.4M83%
Chronicle Bio, Inc.Biotech / PharmaSeries A$15.6M83%
Frequently asked
How much funding has TwinStrand Biosciences, Inc. raised?
TwinStrand Biosciences, Inc. has raised approximately $85.0M in disclosed capital across 6 recorded financing rounds, aggregated from public filings.
What is TwinStrand Biosciences, Inc.'s estimated valuation?
Provath's modeled valuation for TwinStrand Biosciences, Inc. is approximately $132.4M (modeled range $32.6M–$231.9M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is TwinStrand Biosciences, Inc. at?
TwinStrand Biosciences, Inc.'s latest modeled financing stage is Series C. Its most recent recorded round closed around Tue Jun 20.
What does TwinStrand Biosciences, Inc. do and where is it based?
TwinStrand Biosciences, Inc. operates in the Biotech / Pharma sector, based in SEATTLE.
Explore related

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