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- ACELYRIN
ACELYRIN Acquisition, Valuation, Funding & Investors
ACELYRIN was acquired by Alumis in February 2025.
ACELYRIN revenue
$250M
Series C · Sep 2022
Cumulative funding ACELYRIN raised
$558M
across 3 funding rounds
Key investors in ACELYRIN
Westlake Village BioPartners
OrbiMed
Samsara BioCapital
Decheng Capital
Surveyor Capital
venBio Partners
About ACELYRIN
ACELYRIN is a clinical-stage biopharma developing immunology therapies including lonigutamab for thyroid eye disease. Irvine, California-headquartered and public since 2023, the company advances candidates like izokibart for atopic dermatitis through Phase 3 trials. ACELYRIN partners with developers to accelerate monoclonal antibodies targeting cytokine pathways.
Founded
2020
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Product sales
Revenue
$250M (Sep 2022)
Valuation
$810M (Sep 2022)
Sectors
ACELYRIN Acquisition
ACELYRIN was acquired by Alumis for an undisclosed price on 6 February 2025.
Before the acquisition ACELYRIN had raised $558M across 3 funding rounds.
Acelyrin Inc., a late-stage clinical biopharmaceutical company (Nasdaq: SLRN) based in Agoura Hills and Los Angeles, California, focuses on accelerating development of transformative medicines in immunology, including the TYK2 inhibitor lonigutamab. Alumis Inc. (Nasdaq: ALMS), a San Francisco-based clinical-stage biopharma firm headquartered in South San Francisco, develops precision therapies for immune-mediated diseases using a proprietary data and analytics platform, with key assets like ESK-001 (phase 3 plaque psoriasis TYK2 inhibitor) and A-005 (phase 2 multiple sclerosis TYK2 inhibitor). On February 6, 2025, the companies announced an all-stock merger valued at $320 million, initially allocating 55% ownership to Alumis shareholders and 45% to Acelyrin shareholders, later adjusted to approximately 48% for Acelyrin to address shareholder concerns; the deal faced opposition from investors like Trium Capital (favoring liquidation) and a rejected unsolicited offer from Tang Capital Partners-owned Concentra Biosciences, but proceeded after Acelyrin's board deemed it superior following advisor consultations and shareholder approval. The merger provides strategic rationale for Alumis to gain financial flexibility, expand its late-stage pipeline with lonigutamab, build commercial capabilities, and combine cash reserves of $737 million ($289 million from Alumis, $448 million from Acelyrin as of December 31, 2024) for runway into 2027. The combined entity operates under the Alumis name from South San Francisco, led by Alumis CEO Martin Babler and executive team, leveraging complementary R&D track records. Advisors included Morgan Stanley and Cooley for Alumis, Guggenheim Securities and Fenwick & West for Acelyrin; closure expected in Q2 2025 subject to final approvals.
| Acquirer | Date | Type |
|---|---|---|
| 6 Feb 2025 | Strategic M&A |
ACELYRIN Valuation
ACELYRIN is currently valued at $810M, based on its Series C in September 2022.
The $300M round was led by Access Biotechnology, with participation from Tybourne Capital Management, Cowen Healthcare Investments, Decheng Capital, Marshall Wace, Matrix Capital Management and 5 other investors.
ACELYRIN valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Sep 2022 | Series C | $810M | 3.2x |
ACELYRIN Revenue
ACELYRIN's latest recorded revenue is $250M, as of its Series C in September 2022. At a $810M valuation, that implies a 3.2x revenue multiple.
ACELYRIN revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Sep 2022 | $250M | $810M | 3.2x | Series C |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
ACELYRIN Funding History
ACELYRIN has raised a total of $558M across 3 funding rounds.
ACELYRIN's first fundraising round was a $8M Series A in December 2020. The most recent completed round was a $300M Series C in September 2022.
ACELYRIN funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Sep 2022 | Series C | Access Biotechnology (lead); Tybourne Capital Management; Cowen Healthcare Investments; Decheng Capital; Marshall Wace; Matrix Capital Management; Westlake Village BioPartners; OrbiMed; venBio Partners; Samsara BioCapital; Surveyor Capital | $300M | $810M | Acelyrin is a clinical-stage biopharmaceutical company focused on accelerating the development and commercialization of transformative biologics for patients with inflammatory diseases. The company in-licenses promising drug candidates, such as izokibep, a unique IL-17A inhibitor small protein therapeutic originally from Affibody, for which Acelyrin secured rights in the U.S., EU, Japan, and certain other territories for $25 million upfront, with potential milestone payments up to $280 million. On September 13, 2022 (reported as 09/09/2022), Acelyrin closed a $300 million Series C financing round led by Access Biotechnology, with participation from existing investors including AyurMaya (affiliated with Matrix Capital Management), Westlake Village BioPartners, Cowen Healthcare Investments, Decheng Capital, Marshall Wace, OrbiMed, Samsara BioCapital, Surveyor Capital, Tybourne Capital Management, and venBio Partners. This followed a $250 million Series B in November 2021, bringing total capital raised in 12 months past $500 million. The post-money valuation was $809.52 million at a price per share of $6.22. Proceeds from the Series C will primarily fund Phase 3 development of izokibep in psoriatic arthritis (PsA) and axial spondyloarthritis (AxSpA) through anticipated BLA submissions, building on positive Phase 2 data showing good tolerability and efficacy including in enthesitis and patient quality of life. The company also plans continued development in hidradenitis suppurativa (HS) and uveitis, exploration of additional indications, and portfolio expansion via business development. Acelyrin's leadership includes experienced drug developers who have previously advanced successful immunology treatments. The strong syndicate of blue-chip investors underscores confidence in izokibep's differentiated profile and the company's execution capabilities, providing a multi-year cash runway. |
| Nov 2021 | Series B | Matrix Capital Management (lead); Surveyor Capital (lead); Westlake Village BioPartners (lead); RTW Investments; Tybourne Capital Management; Cowen Healthcare Investments; Decheng Capital; Marshall Wace; OrbiMed; venBio Partners; Samsara BioCapital | $250M | - | Acelyrin, a clinical-stage biopharma company focused on immunology, closed a $250 million Series B financing round on approximately November 16, 2021, led by Matrix Capital Management, Surveyor Capital, and Westlake Village BioPartners, with participation from Cowen Healthcare Investments, Decheng Capital, Marshall Wace, OrbiMed, RTW Investments, Samsara BioCapital, Tybourne Capital Management, and venBio Partners. Concurrently, the company licensed izokibep, a late-stage IL-17A inhibitor from Affibody AB, for inflammatory diseases including psoriatic arthritis and axial spondyloarthritis. The Series B funding supported advancement of Acelyrin's immunology pipeline through clinical development. Subsequent to this round, Acelyrin raised additional capital, including a $300 million Series C in September 2022, bringing total committed capital over $550 million with $400 million funded by the time of its IPO filing. The company went public, receiving gross proceeds of $621.0 million (net $573.6 million). Acelyrin expanded via acquisition of ValenzaBio in January 2023 in an all-stock deal, adding lonigutamab for thyroid eye disease and other programs. Later, Alumis acquired Acelyrin's net assets in an all-stock transaction valued at $238.1 million, issuing shares for assets with a fair value of $426.0 million, incorporating lonigutamab into its immunology portfolio. |
| Dec 2020 | Series A | Westlake Village BioPartners (lead) | $8M | - | ACELYRIN is a late-stage clinical biopharma company founded in late 2020 and launched with Series A funding from Westlake Village BioPartners in December 2020. The company focuses on identifying, acquiring, and accelerating the development of promising drug candidates, particularly in immunology. ACELYRIN's lead asset is izokibep (ABY-035), an interleukin-17A (IL-17A) inhibitor licensed from Swedish biotech Affibody AB, with development programs in uveitis, axial spondyloarthritis, hidradenitis suppurativa, psoriatic arthritis, and other inflammatory indications. The company is led by executives with significant biopharma experience, including team members from Horizon and is based in the Los Angeles area with operations in the San Francisco Bay Area. The Series A round size was not disclosed; the company subsequently raised $250 million in Series B financing led by AyurMaya in November 2021, and $300 million in Series C financing led by Access Biotechnology in September 2022. |
Who has invested in ACELYRIN?
12 investors have backed ACELYRIN across its funding rounds, including Westlake Village BioPartners, OrbiMed, Samsara BioCapital, Decheng Capital, Surveyor Capital and venBio Partners.
Lead investors include Access Biotechnology, Matrix Capital Management, Surveyor Capital and Westlake Village BioPartners.
ACELYRIN Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Dec 2020 | ||
| 2 | Participant | Nov 2021 | ||
| 2 | Participant | Nov 2021 | ||
| 2 | Participant | Nov 2021 | ||
| 2 | Participant | Nov 2021 | ||
| 2 | Lead | Nov 2021 | ||
| 2 | Participant | Nov 2021 | ||
| 2 | Participant | Nov 2021 | ||
| 2 | Participant | Nov 2021 | ||
| 2 | Lead | Nov 2021 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by ACELYRIN
ACELYRIN has acquired 1 company to date.
Last acquisition by ACELYRIN was on January 5th 2023. ACELYRIN acquired ValenzaBio for $130M.
Latest Acquisitions by ACELYRIN
| Description | ValenzaBio is a San Francisco-based biopharma company advancing monoclonal antibodies for autoimmune diseases like lupus and rheumatoid arthritis. Its lead VB-317 targets CD19 on B cells, showing Phase 1 safety in 2023 trials at 40 healthy volunteers. Preclinical assets include VB-409 against IL-23 for psoriasis, licensed from Kyoto University. |
| HQ Country | |
| HQ City | Washington, DC |
| Deal Date | 5 Jan 2023 |
| Valuation | $130M |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all ACELYRIN acquisitions and their M&A valuation multiples. Start Free Trial | |
ACELYRIN Competitors
ACELYRIN competitors include listed companies like 4D Molecular Therapeutics, Climb Bio, HK inno.N and China TCM, and private ones like Huisheng Biopharmaceutical and Stramsen Biotech.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $809M | - | ||
| Publicly listed | $85M | ($152M) | $812M | 14.6x | ||
| Publicly listed | - | ($68M) | $808M | - | ||
| Private | - | - | $807M | - | ||
| Publicly listed | $774M | $109M | $806M | 1.3x | ||
| Publicly listed | $2.2B | $128M | $805M | 0.4x |
ACELYRIN Public Comps
ACELYRIN is no longer listed, but its public comps include 4D Molecular Therapeutics, Climb Bio, HK inno.N, China TCM, Achieve Life Sciences, Design Therapeutics, BlossomHill Therapeutics, Esperion Therapeutics, Aclaris Therapeutics and Guizhou Sanli.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $85M | ($152M) | 5.7x | 14.6x | (3.2x) | (1.9x) | |||
| - | ($68M) | - | - | (9.2x) | (9.0x) | |||
| $774M | $109M | 1.4x | 1.3x | 9.6x | 8.5x | |||
| $2.2B | $128M | 0.3x | 0.4x | 5.5x | 6.9x | |||
| - | ($55M) | - | - | (11.7x) | - | |||
| - | ($79M) | - | - | (7.6x) | - | |||
| - | ($64M) | - | - | (15.5x) | - | |||
| $403M | $60M | 2.3x | 2.3x | 15.2x | 15.2x | |||
This data is available for Pro users. Sign up to see all ACELYRIN competitors and their valuation data. Start Free Trial | ||||||||
Common questions about ACELYRIN
| When was ACELYRIN founded? | ACELYRIN was founded in 2020. |
| Where is ACELYRIN headquartered? | ACELYRIN is headquartered in Los Angeles, CA, United States. |
| Is ACELYRIN publicly listed? | No, ACELYRIN was acquired by Alumis in February 2025. |
| Who acquired ACELYRIN? | ACELYRIN was acquired by Alumis in February 2025. |
| What is ACELYRIN's valuation? | ACELYRIN was last valued at $810M in its Series C in September 2022. |
| How much funding has ACELYRIN raised? | ACELYRIN has raised $558M across 3 funding rounds. |
| What was ACELYRIN's last funding round? | ACELYRIN's last funding round was a $300M Series C in September 2022, led by Access Biotechnology. |
| Who are ACELYRIN's investors? | ACELYRIN's investors include Westlake Village BioPartners, Tybourne Capital Management, Cowen Healthcare Investments, Decheng Capital, Marshall Wace, Matrix Capital Management, OrbiMed, venBio Partners, Samsara BioCapital, Surveyor Capital and 2 others. |
| What is ACELYRIN's revenue? | ACELYRIN's latest recorded revenue is $250M (September 2022). |
| What is ACELYRIN's revenue multiple? | ACELYRIN's latest valuation implies a 3.2x revenue multiple ($810M valuation on $250M of revenue). |
| Which companies are comparable to ACELYRIN? | Companies comparable to ACELYRIN include Huisheng Biopharmaceutical, 4D Molecular Therapeutics, Climb Bio, Stramsen Biotech, HK inno.N and China TCM. |
| How many companies has ACELYRIN acquired? | ACELYRIN has acquired 1 company, including ValenzaBio. |
| What was the largest acquisition by ACELYRIN? | The $130M acquisition of ValenzaBio in January 2023 is the largest acquisition ACELYRIN has made to date. |
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