Ambrx Acquisition, Valuation, Funding & Investors

Ambrx was acquired by Johnson & Johnson for $1.9B in January 2024.

See full Ambrx profile

Ambrx acquisition price

$1.9B

Acquired by Johnson & Johnson · Jan 2024

Ambrx revenue at acquisition

$4M

Last twelve months · Jan 2024

Cumulative funding Ambrx raised

$245M

across 2 funding rounds

Key investors in Ambrx

Ambrx Overview

About Ambrx

Ambrx is an Aliso Viejo, California-headquartered clinical-stage biopharmaceutical company leveraging an expanded genetic code platform to engineer precision biologics. Its pipeline encompasses antibody drug conjugates like ARX788 for oncology, bispecific antibodies, targeted immuno-oncology agents, cytokines for immune modulation, and long-acting peptides addressing metabolic and cardiovascular conditions. The company advances programs across multiple therapeutic areas to enhance efficacy, safety, and administration convenience.


Founded

2003

HQ

United StatesSan Diego, CA

Website

ambrx.com

Status

Acquired

Customer focus

B2B

Revenue model

Product sales

Revenue

$4M (Jan 2024)

Valuation

$1.9B (acquired Jan 2024)

Ambrx Acquisition

Ambrx was acquired by Johnson & Johnson for $1.9B on 8 January 2024.

Before the acquisition Ambrx had raised $245M across 2 funding rounds.

Ambrx acquisition details
AcquirerDateTypePriceEV/Revenue
8 Jan 2024Strategic M&A$1.9B463.4x

Ambrx Funding History

Ambrx has raised a total of $245M across 2 funding rounds.

Ambrx's first fundraising round was a $45M undisclosed-stage round in August 2016. The most recent completed round was a $200M undisclosed-stage round in November 2020.

Ambrx funding rounds

Ambrx funding rounds
DateStageInvestorsRaisedDeal Summary
Nov 2020Undisclosed stageFidelity; HBM Healthcare Investments; Invus; Suvretta Capital Management; BlackRock; Adage Capital Management; Cormorant Asset Management$200MAmbrx Inc., a San Diego-based clinical-stage biopharmaceutical company, develops Precision Biologics using an expanded genetic code technology to create next-generation antibody drug conjugates (ADCs), bispecifics, targeted immuno-oncology therapies, novel cytokines, and long-acting therapeutic peptides for cancer, metabolic, and cardiovascular diseases. The company announced the closing of an oversubscribed $200 million crossover financing round on November 9, 2020, marking its largest raise to date, with new investors including Fidelity Management & Research Company LLC, funds managed by BlackRock, Cormorant Asset Management, HBM Healthcare Investments, Invus, Adage Capital Partners, and Suvretta Capital Management; BofA Securities served as the sole placement agent. Proceeds from the financing were intended to advance Ambrx's clinical and preclinical pipeline, including ongoing programs with strong emerging data, positioning the company for rapid growth under new management since mid-2018 that shifted focus from technology development to a full biopharmaceutical operation. Ambrx continued raising capital post-round, including a June 2021 IPO at $678M valuation, and was later acquired in March 2024, but these are separate events.
Aug 2016Undisclosed stageApricot Capital (lead); Northeast Securities (lead); Sinopharm Holding; Fosun Pharma; HOPU Investment Management Company; China Everbright; Humanwell$45M-

Who has invested in Ambrx?

14 investors have backed Ambrx across its funding rounds, including Fidelity, BlackRock, Cormorant Asset Management, Invus, HBM Healthcare Investments and Adage Capital Management.

Lead investors include Apricot Capital and Northeast Securities.


Ambrx Investors

Investors in Ambrx by funding rounds participated
InvestorHQRoundsRoleFirst check
Sinopharm HoldingChinaShanghai1ParticipantAug 2016
FidelityUnited StatesBoston, MA1ParticipantNov 2020
Apricot CapitalChinaShanghai1LeadAug 2016
HBM Healthcare InvestmentsSwitzerlandZug1ParticipantNov 2020
InvusUnited StatesNew York City, NY1ParticipantNov 2020
Suvretta Capital ManagementUnited StatesNew York City, NY1ParticipantNov 2020
Fosun PharmaChinaShanghai1ParticipantAug 2016
HOPU Investment Management CompanyChinaBeijing1ParticipantAug 2016
BlackRockUnited StatesUnited States1ParticipantNov 2020
Adage Capital ManagementUnited StatesUnited States1ParticipantNov 2020
Northeast SecuritiesUnited StatesNew York City, NY1LeadAug 2016
Cormorant Asset ManagementUnited StatesBoston, MA1ParticipantNov 2020

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Ambrx Competitors

Ambrx competitors include listed companies like Recursion Pharmaceuticals, Mesoblast, Alvotech and Eris Lifesciences, and private ones like ArsenalBio and BioRay Pharmaceuticals.

Public and private companies comparable to Ambrx
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
ArsenalBioUnited StatesUnited StatesPrivate--$1.9B-
BioRay PharmaceuticalsChinaShanghaiPrivate$131M-$1.9B14.5x
Recursion PharmaceuticalsUnited StatesUnited StatesPublicly listed$74M($582M)$1.9B26.6x
MesoblastAustraliaAustraliaPublicly listed$120M($35M)$1.9B14.7x
AlvotechUnited StatesUnited StatesPublicly listed$586M$308M$1.9B5.4x
Eris LifesciencesIndiaIndiaPublicly listed$325M$115M$1.9B6.2x
Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Recursion Pharmaceuticals$74M($582M)19.1x26.6x(2.4x)(2.8x)
Mesoblast$120M($35M)16.5x14.7x(57.1x)(73.4x)
Alvotech$586M$308M5.5x5.4x10.4x18.6x
Eris Lifesciences$325M$115M6.6x6.2x18.5x17.4x
OneSource Specialty$148M$30M13.8x10.8x68.3x36.9x
Voronoi$5M($35M)337.1x358.5x(52.6x)(32.5x)
Pfizer India$263M$90M6.1x5.9x17.7x16.2x
Jinyu Bio-Technology Co.$208M$47M8.2x7.2x36.4x29.2x

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Common questions about Ambrx

When was Ambrx founded?Ambrx was founded in 2003.
Where is Ambrx headquartered?Ambrx is headquartered in San Diego, CA, United States.
Is Ambrx publicly listed?No, Ambrx was acquired by Johnson & Johnson in January 2024.
Who acquired Ambrx?Ambrx was acquired by Johnson & Johnson in January 2024.
How much was Ambrx acquired for?Ambrx was acquired for $1.9B in January 2024.
How much funding has Ambrx raised?Ambrx has raised $245M across 2 funding rounds.
What was Ambrx's last funding round?Ambrx's last funding round was a $200M undisclosed-stage round in November 2020.
Who are Ambrx's investors?Ambrx's investors include Sinopharm Holding, Fidelity, Apricot Capital, HBM Healthcare Investments, Invus, Suvretta Capital Management, Fosun Pharma, HOPU Investment Management Company, BlackRock, Adage Capital Management and 4 others.
Which companies are comparable to Ambrx?Companies comparable to Ambrx include ArsenalBio, BioRay Pharmaceuticals, Recursion Pharmaceuticals, Mesoblast, Alvotech and Eris Lifesciences.

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