ACELYRIN Acquisition, Valuation, Funding & Investors

ACELYRIN was acquired by Alumis in February 2025.

ACELYRIN acquisition price

Undisclosed

Acquired by Alumis · Feb 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

ACELYRIN Overview

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

United StatesLos Angeles, CA

Status

Acquired

Customer focus

B2B

Revenue model

Product sales

Revenue

$250M (Sep 2022)

Valuation

$810M (Sep 2022)

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.

ACELYRIN acquisition details
AcquirerDateType
6 Feb 2025Strategic 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

ACELYRIN valuation by funding round
DateStageValuationRevenue Multiple
Sep 2022Series C$810M3.2x

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

ACELYRIN revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Sep 2022$250M$810M3.2xSeries 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

ACELYRIN funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Sep 2022Series CAccess 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$810MAcelyrin 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 2021Series BMatrix 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 2020Series AWestlake 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

Investors in ACELYRIN by funding rounds participated
InvestorHQRoundsRoleFirst check
Westlake Village BioPartnersUnited StatesLos Angeles, CA3LeadDec 2020
Tybourne Capital ManagementHong KongHong Kong2ParticipantNov 2021
Cowen Healthcare InvestmentsUnited StatesNew York City, NY2ParticipantNov 2021
Decheng CapitalUnited StatesSan Francisco, CA2ParticipantNov 2021
Marshall WaceUnited KingdomLondon2ParticipantNov 2021
Matrix Capital ManagementUnited StatesBoston, MA2LeadNov 2021
OrbiMedUnited StatesNew York City, NY2ParticipantNov 2021
venBio PartnersUnited StatesSan Francisco, CA2ParticipantNov 2021
Samsara BioCapitalUnited StatesSan Francisco, CA2ParticipantNov 2021
Surveyor CapitalUnited StatesChicago, IL2LeadNov 2021

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Acquisitions 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

ValenzaBio
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 CountryUnited States
HQ City
Washington, DC
Deal Date5 Jan 2023
Valuation$130M
EV/Revenue
EV/EBITDA

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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.

Public and private companies comparable to ACELYRIN
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Huisheng BiopharmaceuticalChinaJilinPrivate--$809M-
4D Molecular TherapeuticsUnited StatesUnited StatesPublicly listed$85M($152M)$812M14.6x
Climb BioUnited StatesUnited StatesPublicly listed-($68M)$808M-
Stramsen BiotechUnited StatesUnited StatesPrivate--$807M-
HK inno.NSouth KoreaSouth KoreaPublicly listed$774M$109M$806M1.3x
China TCMChinaChinaPublicly listed$2.2B$128M$805M0.4x
Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
4D Molecular Therapeutics$85M($152M)5.7x14.6x(3.2x)(1.9x)
Climb Bio-($68M)--(9.2x)(9.0x)
HK inno.N$774M$109M1.4x1.3x9.6x8.5x
China TCM$2.2B$128M0.3x0.4x5.5x6.9x
Achieve Life Sciences-($55M)--(11.7x)-
Design Therapeutics-($79M)--(7.6x)-
BlossomHill Therapeutics-($64M)--(15.5x)-
Esperion Therapeutics$403M$60M2.3x2.3x15.2x15.2x

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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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