- Companies
- Ambrx
Ambrx Acquisition, Valuation, Funding & Investors
Ambrx was acquired by Johnson & Johnson for $1.9B in January 2024.
Ambrx revenue at acquisition
$4M
Last twelve months · Jan 2024
Cumulative funding Ambrx raised
$245M
across 2 funding rounds
Key investors in Ambrx
Fidelity
BlackRock
Cormorant Asset Management
Invus
HBM Healthcare Investments
Adage Capital Management
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
Website
Status
Acquired
Customer focus
B2B
Revenue model
Product sales
Revenue
$4M (Jan 2024)
Valuation
$1.9B (acquired Jan 2024)
Sectors
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.
| Acquirer | Date | Type | Price | EV/Revenue |
|---|---|---|---|---|
| 8 Jan 2024 | Strategic M&A | $1.9B | 463.4x |
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
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Nov 2020 | Undisclosed stage | Fidelity; HBM Healthcare Investments; Invus; Suvretta Capital Management; BlackRock; Adage Capital Management; Cormorant Asset Management | $200M | Ambrx 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 2016 | Undisclosed stage | Apricot 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
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Participant | Aug 2016 | ||
| 1 | Participant | Nov 2020 | ||
| 1 | Lead | Aug 2016 | ||
| 1 | Participant | Nov 2020 | ||
| 1 | Participant | Nov 2020 | ||
| 1 | Participant | Nov 2020 | ||
| 1 | Participant | Aug 2016 | ||
| 1 | Participant | Aug 2016 | ||
| 1 | Participant | Nov 2020 | ||
| 1 | Participant | Nov 2020 | ||
| 1 | Lead | Aug 2016 | ||
| 1 | Participant | Nov 2020 | ||
This data is available for Pro users. Sign up to see all 14 Ambrx investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAmbrx Competitors
Ambrx competitors include listed companies like Recursion Pharmaceuticals, Mesoblast, Alvotech and Eris Lifesciences, and private ones like ArsenalBio and BioRay Pharmaceuticals.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1.9B | - | ||
| Private | $131M | - | $1.9B | 14.5x | ||
| Publicly listed | $74M | ($582M) | $1.9B | 26.6x | ||
| Publicly listed | $120M | ($35M) | $1.9B | 14.7x | ||
| Publicly listed | $586M | $308M | $1.9B | 5.4x | ||
| Publicly listed | $325M | $115M | $1.9B | 6.2x |
Ambrx Public Comps
Ambrx is no longer listed, but its public comps include Recursion Pharmaceuticals, Mesoblast, Alvotech, Eris Lifesciences, OneSource Specialty, Voronoi, Pfizer India, Jinyu Bio-Technology Co., Lakefront Biotherapeutics and Hepalink.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $74M | ($582M) | 19.1x | 26.6x | (2.4x) | (2.8x) | |||
| $120M | ($35M) | 16.5x | 14.7x | (57.1x) | (73.4x) | |||
| $586M | $308M | 5.5x | 5.4x | 10.4x | 18.6x | |||
| $325M | $115M | 6.6x | 6.2x | 18.5x | 17.4x | |||
| $148M | $30M | 13.8x | 10.8x | 68.3x | 36.9x | |||
| $5M | ($35M) | 337.1x | 358.5x | (52.6x) | (32.5x) | |||
| $263M | $90M | 6.1x | 5.9x | 17.7x | 16.2x | |||
| $208M | $47M | 8.2x | 7.2x | 36.4x | 29.2x | |||
This data is available for Pro users. Sign up to see all Ambrx competitors and their valuation data. Start Free Trial | ||||||||
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. |
See companies similar to Ambrx
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.




