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- Abcuro
Abcuro Valuation, Funding & Investors
Abcuro is valued at $1.2B as of February 2025.
Last Abcuro valuation
$1.2B
Series C · Feb 2025
Last Abcuro funding round
$39M
Undisclosed stage · Aug 2026
Cumulative funding Abcuro raised
$454M
across 7 funding rounds
Key investors in Abcuro
RA Capital Management
Samsara BioCapital
Sanofi Ventures
Pontifax
Mass General Brigham Ventures
New Enterprise Associates
Abcuro Overview
About Abcuro
Abcuro is a Boston, Massachusetts-based biotechnology company developing immune-modulatory biologics targeting intracellular signaling pathways in T cells and myeloid cells for autoimmune diseases and cancer. Founded in 2017 by experts from Harvard and Genentech, it advances candidates like AB-101 for vitiligo through Phase 1 trials using bioinformatics and ex vivo validation.
Founded
2015
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Licensing
Valuation
$1.2B (Feb 2025)
Sectors
Abcuro Valuation
Abcuro is currently valued at $1.2B, based on its Series C in February 2025.
The $200M round was led by New Enterprise Associates.
Abcuro valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Feb 2025 | Series C | $1.2B |
Abcuro Funding History
Abcuro has raised a total of $454M across 7 funding rounds.
Abcuro's first fundraising round was a $2M seed round in December 2016. The most recent completed round was a $39M undisclosed-stage round in August 2026.
Abcuro funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Aug 2026 | Undisclosed stage | - | $39M | - | - |
| Feb 2025 | Series C | New Enterprise Associates (lead) | $200M | $1.2B | Abcuro is a clinical-stage biotechnology company developing therapies for autoimmune diseases and cancer through precise modulation of cytotoxic T cells. The company's lead candidate, ulviprubart (ABC008), is a first-in-class monoclonal antibody targeting KLRG1, designed to selectively deplete cytotoxic T cells. Abcuro has received FDA orphan drug designation for ABC008 in inclusion body myositis (IBM), a progressive and debilitating inflammatory skeletal muscle condition with no available pharmaceutical therapies. The company is also advancing ABC015, an anti-KLRG1 blocking antibody capable of reactivating inhibited cytotoxic T and NK cells in the tumor microenvironment. On February 12, 2025, Abcuro closed a $200 million Series C financing round at a $1.2 billion post-money valuation. The round was led by New Enterprise Associates (NEA), with Foresite Capital joining as a new investor and participation from existing investors including RA Capital Management, Bain Capital Life Sciences, Redmile Group, Samsara BioCapital, Sanofi Ventures, Pontifax, Mass General Brigham Ventures, New Leaf Ventures, funds managed by abrdn Inc., funds and accounts managed by BlackRock, Eurofarma Ventures, and Soleus Capital. This represented significant investor confidence in the company's clinical program and market opportunity. Proceeds from the Series C are designated to support completion of the registrational Phase 2/3 MUSCLE trial of ulviprubart in inclusion body myositis, biologics license application (BLA) filing, commercial launch preparation, and expansion of manufacturing capabilities. The company's Phase 2/3 MUSCLE trial was expected to generate initial data in the first half of 2026. Abcuro is also overseeing a Phase 1/2 clinical trial of ulviprubart in T-cell large granular lymphocytic leukemia, expanding the therapeutic potential of the candidate across multiple indications with significant unmet clinical need. This $200 million Series C followed Abcuro's $155 million Series B in 2023, demonstrating sustained investor backing for the company's clinical-stage programs and proprietary discovery platform for identifying novel therapeutic targets in cancer and autoimmune diseases. |
| Aug 2023 | Series B | Bain Capital (lead); Redmile Group (lead); Soleus Capital; Eurofarma Ventures; BlackRock; Tekla Capital Management; RA Capital Management; Pontifax; New Leaf Ventures; Samsara BioCapital; Sanofi Ventures; Mass General Brigham Ventures | $155M | - | Abcuro is a Massachusetts-based clinical-stage biotechnology company founded in 2015-2016, developing therapies for autoimmune diseases and cancer using T and NK cell technologies targeting the inhibitory immune checkpoint receptor KLRG1. Its lead candidate, ABC008 (ulviprubart), is a first-in-class anti-KLRG1 monoclonal antibody designed to deplete cytotoxic T cells attacking healthy muscle tissue in inclusion body myositis (IBM), a progressive inflammatory condition with no approved therapies; it has FDA orphan drug designation. Abcuro is also advancing ABC015, an anti-KLRG1 blocking antibody to reactivate inhibited cytotoxic T and NK cells in the tumor microenvironment, and conducting a phase 1/2 trial in T-cell large granular lymphocytic leukemia. The company originates from research by Dr. Peter Greenberg at Fred Hutchinson Cancer Center, with Mass General Brigham Ventures and Sanofi Ventures leading an earlier Series A-1. In August 2023, Abcuro raised $155 million in an oversubscribed Series B financing round co-led by Redmile Group and Bain Capital Life Sciences, with participation from RA Capital Management, Samsara BioCapital, Sanofi Ventures (which co-led a prior $42 million Series A in 2021), and others including BlackRock, Eurofarma Ventures, Mass General Brigham Ventures, New Leaf Ventures, Pontifax, Soleus Capital, and Tekla Capital Management. An initial filing noted $120 million raised from a $200 million offering. The proceeds support advancement of ABC008 into clinical studies, building on prior funding to reach nearly $215 million total raised by then. Subsequently, in February 2025, Abcuro closed a $200 million Series C led by New Enterprise Associates with new investor Foresite Capital and existing backers, to complete the registrational Phase 2/3 MUSCLE trial of ulviprubart in IBM, expand manufacturing, and prepare for potential BLA filing and commercial launch, expecting initial data in H1 2026. |
| Jan 2021 | Series A | Mass General Brigham Ventures (lead); Sanofi Ventures (lead); Hongsen Investment Group; RA Capital Management; Pontifax; Samsara BioCapital | $42M | - | Abcuro, Inc. is a clinical-stage biotechnology company based in Newton, Massachusetts, developing immunotherapies that precisely modulate cytotoxic T and NK cells to treat autoimmune diseases and cancer. Its lead program, ABC008, is an anti-KLRG1 antibody designed to deplete pathogenic cytotoxic T cells attacking healthy tissue in autoimmune conditions, with a planned first-in-human proof-of-mechanism and safety trial in sporadic inclusion body myositis (IBM) patients. The company is also advancing ABC015, an anti-KLRG1 blocking antibody to enhance anti-tumor responses in oncology, supported by the Multiple Myeloma Research Foundation for multiple myeloma studies. In January 2021, Abcuro closed a $42 million Series A-1 financing round co-led by Mass General Brigham Ventures and Sanofi Ventures, with participation from Pontifax Venture Capital, Hongsen Investment Group, RA Capital Management, Samsara BioCapital, and others. This brought the company's total funding to nearly $60 million, following a $2.25 million seed in 2016, $8 million Series A in 2018, and $7.6 million from undisclosed investors in July 2020. Proceeds fund clinical advancement of ABC008 and preclinical oncology development. The round coincided with leadership appointments: John B. Edwards as Executive Chair and David de Graaf, Ph.D., as CEO. Jason Hafler from Sanofi Ventures, Iyona Rajkomar from Pontifax, Ryan Berry from RA Capital, and Donald McCarthy from Samsara BioCapital joined the board. Subsequent rounds included a $155 million Series B in 2023 co-led by Redmile Group and Bain Capital Life Sciences, and a $200 million Series C at $1.5 billion valuation led by RA Capital with Arch Venture Partners, but these postdate the queried round. |
| Jul 2020 | Series A | - | $8M | - | - |
| Nov 2018 | Series A | ShangPharma Innovation; Kaitai Capital; Partners Innovation Fund | $8M | - | Abcuro is a clinical-stage biotechnology company developing therapies for autoimmune diseases and cancer through precise modulation of cytotoxic T and NK cells expressing the inhibitory immune checkpoint receptor KLRG1. The company advanced ABC008, a first-in-class anti-KLRG1 antibody for inclusion body myositis (IBM), and ABC015 for reactivating inhibited cytotoxic T and NK cells in tumors. Abcuro completed an $8 million Series A financing round on November 21, 2018, led by Partners Innovation Fund, Kaitai Capital, and ShangPharma Innovation. The proceeds supported preclinical development of programs in autoimmunity and immuno-oncology. |
| Dec 2016 | Seed | - | $2M | - | - |
Who has invested in Abcuro?
17 investors have backed Abcuro across its funding rounds, including RA Capital Management, Samsara BioCapital, Sanofi Ventures, Pontifax, Mass General Brigham Ventures and New Enterprise Associates.
Lead investors include New Enterprise Associates, Bain Capital, Redmile Group, Mass General Brigham Ventures and Sanofi Ventures.
Abcuro Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Participant | Jan 2021 | ||
| 2 | Participant | Jan 2021 | ||
| 2 | Participant | Jan 2021 | ||
| 2 | Lead | Jan 2021 | ||
| 2 | Lead | Jan 2021 | ||
| 1 | Participant | Nov 2018 | ||
| 1 | Lead | Aug 2023 | ||
| 1 | Participant | Nov 2018 | ||
| 1 | Participant | Aug 2023 | ||
| 1 | Lead | Feb 2025 | ||
| 1 | Participant | Aug 2023 | ||
| 1 | Participant | Aug 2023 | ||
| 1 | Participant | Aug 2023 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAbcuro Competitors
Abcuro competitors include listed companies like TOWA Pharmaceutical, OPKO Health, Uniphar and Replimune Group, and private ones like FibroGen and Antekin Biotech.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $1.8B | $244M | $1.2B | 1.3x | ||
| Publicly listed | $607M | ($56M) | $1.2B | 2.3x | ||
| Publicly listed | $3.5B | $136M | $1.2B | 0.5x | ||
| Publicly listed | - | ($302M) | $1.2B | 59.4x | ||
| Private | $108M | - | $1.2B | 11.3x | ||
| Private | - | - | $1.2B | - |
Abcuro Public Comps
Abcuro is still privately-owned, but its public comps include TOWA Pharmaceutical, OPKO Health, Uniphar, Replimune Group, Alto Neuroscience, Everest Medicines, Akums Drugs and Pharma, Chongqing Genrix, Apnimed and Seaport Therapeutics.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.8B | $244M | 1.4x | 1.3x | 9.9x | 7.8x | |||
| $607M | ($56M) | 2.2x | 2.3x | (23.3x) | (11.2x) | |||
| $3.5B | $136M | 0.5x | 0.5x | 12.5x | 10.4x | |||
| - | ($302M) | - | 59.4x | (3.7x) | (3.9x) | |||
| - | ($67M) | - | - | (14.9x) | (9.7x) | |||
| $254M | ($72M) | 4.6x | 2.9x | (16.3x) | 22.3x | |||
| $443M | $54M | 2.4x | 2.2x | 19.9x | 16.6x | |||
| $34M | ($70M) | 32.6x | 33.1x | (16.0x) | - | |||
This data is available for Pro users. Sign up to see all Abcuro competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Abcuro
| When was Abcuro founded? | Abcuro was founded in 2015. |
| Where is Abcuro headquartered? | Abcuro is headquartered in United States. |
| Is Abcuro publicly listed? | No, Abcuro is a private, VC-backed company. |
| What is Abcuro's valuation? | Abcuro was last valued at $1.2B in its Series C in February 2025. |
| How much funding has Abcuro raised? | Abcuro has raised $454M across 7 funding rounds. |
| What was Abcuro's last funding round? | Abcuro's last funding round was a $39M undisclosed-stage round in August 2026. |
| Who are Abcuro's investors? | Abcuro's investors include RA Capital Management, Pontifax, Samsara BioCapital, Sanofi Ventures, Mass General Brigham Ventures, ShangPharma Innovation, Redmile Group, Kaitai Capital, Soleus Capital, New Enterprise Associates and 7 others. |
| Which companies are comparable to Abcuro? | Companies comparable to Abcuro include TOWA Pharmaceutical, OPKO Health, Uniphar, Replimune Group, FibroGen and Antekin Biotech. |
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