Amunix Acquisition, Valuation, Funding & Investors

Amunix was acquired by Sanofi for $1B in December 2021.

Amunix acquisition price

$1B

Acquired by Sanofi · Dec 2021

Cumulative funding Amunix raised

$190M

across 2 funding rounds

Key investors in Amunix

  • Venrock
  • Polaris Partners
  • Casdin Capital
  • Viking Global Investors
  • Redmile Group
  • Longitude Capital
  • Omega Funds
  • Frazier Healthcare Partners

Amunix Overview

About Amunix

Amunix is a Mountain View-headquartered biopharmaceutical company engineering protein therapeutics for oncology and immunology. It develops XTENylated prodrugs, XDC antibody-drug conjugates, and ProTIA bispecific T-cell engagers to extend half-lives and reduce dosing frequency. Amunix collaborates with Roche and other biopharma firms on cytokine fusions and cytokine-dendrimer conjugates. Founded in 2006, it advances candidates into clinical trials for solid tumors.


Founded

2006

HQ

United StatesSan Francisco, CA

Website

amunix.com

Status

Acquired

Customer focus

B2B

Revenue model

Product sales

Valuation

$1B (acquired Dec 2021)

Amunix Acquisition

Amunix was acquired by Sanofi for $1B on 20 December 2021.

Before the acquisition Amunix had raised $190M across 2 funding rounds.

Sanofi announced on December 21, 2021, an agreement to acquire Amunix Pharmaceuticals, a California-based immuno-oncology company, for an upfront payment of approximately $1 billion plus up to $225 million in milestone payments. Amunix develops masked T-cell engagers and cytokines using proprietary XTEN and Pro-XTEN platforms to create biotherapeutics that activate selectively in tumor microenvironments. Its lead candidate, AMX-818, is a masked HER2-directed T-cell engager targeting solid tumors, planned for clinical trials in 2022. The acquisition provides Sanofi full ownership of Amunix's pipeline and platforms, complementing its immuno-oncology efforts with nearly 20 molecules in development. It aligns with Sanofi's strategy to bolster oncology innovation through tuck-in deals amid depressed biotech valuations. The deal closed in Q1 2022 after antitrust clearance. Amunix had raised $73 million in Series A (2020) and $117 million in 2021 from investors including Bain Capital Life Sciences and Viking Global Investors.

Amunix acquisition details
AcquirerDateTypePrice
20 Dec 2021Strategic M&A$1B

Amunix Funding History

Amunix has raised a total of $190M across 2 funding rounds.

Amunix's first fundraising round was a $73M Series A in March 2020. The most recent completed round was a $117M Series B in March 2021.

Amunix funding rounds

Amunix funding rounds
DateStageInvestorsRaisedDeal Summary
Mar 2021Series BViking Global Investors (lead)$117MAmunix Pharmaceuticals, a South San Francisco-based biopharmaceutical company, develops masked, protease-activated immune-oncology therapeutics using its proprietary XPAT and XPAC platforms to create T cell engagers and cytokines preferentially activated in the tumor microenvironment for solid tumor cancers. The company pivoted from technology licensing, where it applied Pro-XTEN technology to extend drug half-lives for partners like Biogen and Merck, to in-house drug development in 2019. Amunix raised $117 million in a Series B financing round on March 4, 2021, led by Viking Global Investors, following a $73 million Series A in 2020 led by Omega Funds. The Series B round included new investors Bain Capital Life Sciences, BlackRock, Franklin Templeton, Janus Henderson Investors, ArrowMark Partners, Avidity Partners, Clough Capital Partners, and CaaS Capital Management, with existing investors Redmile Group, Venrock, Casdin Capital, Omega Funds, Frazier Healthcare Partners, Longitude Capital, and Polaris Partners also participating. Proceeds fund advancement of lead candidate AMX-818, a masked protease-activated T cell engager targeting HER2-expressing solid tumors, into the clinic, plus earlier-stage XPATs targeting PSMA, EGFR, and TROP2, and masked cytokines. Preclinical data showed tumor shrinkage in animal models. The crossover-heavy syndicate reflects investor confidence in Amunix's approach to mitigate on-target/off-tumor toxicity limiting T cell engagers and cytokines. Later, in December 2021, Amunix secured a $1.2 billion deal with Sanofi for its immuno-oncology assets, building on the Series B momentum.
Mar 2020Series AOmega Funds (lead); Redmile Group; Delian Capital; Casdin Capital; Polaris Partners; Two River; Frazier Healthcare Partners; Venrock; Longitude Capital$73MAmunix Pharmaceuticals, Inc. is a biotechnology company focused on developing protein therapeutics with extended half-life using proprietary XTEN and XPAT protein engineering platforms, primarily targeting oncology indications such as solid tumors including non-small cell lung cancer via bispecific T-cell engagers like SAR-446368 (CD3 x EGFR) and AMX-268 (CD3 x EpCAM), as well as other programs like IL12-XPAC and earlier collaborations such as XTEN for diabetes with Lilly. The company has been involved in licensing agreements, including a Second Amended and Restated License Agreement dated May 1, 2020, with Naia Rare Diseases, Inc., and collaborations for assets like BIVV001 with Sanofi for hemophilia, aiming to improve patient quality of life through once-weekly dosing by extending half-life by a factor of 3-4.

Who has invested in Amunix?

10 investors have backed Amunix across its funding rounds, including Venrock, Polaris Partners, Casdin Capital, Viking Global Investors, Redmile Group and Longitude Capital.

Lead investors include Viking Global Investors and Omega Funds.


Amunix Investors

Investors in Amunix by funding rounds participated
InvestorHQRoundsRoleFirst check
Redmile GroupUnited StatesSan Francisco, CA1ParticipantMar 2020
Delian CapitalChinaBeijing1ParticipantMar 2020
Casdin CapitalUnited StatesNew York City, NY1ParticipantMar 2020
Polaris PartnersUnited StatesBoston, MA1ParticipantMar 2020
Two RiverUnited StatesNew York City, NY1ParticipantMar 2020
Frazier Healthcare PartnersUnited StatesSeattle, WA1ParticipantMar 2020
VenrockUnited StatesSan Francisco, CA1ParticipantMar 2020
Omega FundsUnited StatesBoston, MA1LeadMar 2020

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Investments by Amunix

Amunix has invested in 1 company to date.

Latest investment by Amunix was on October 8th 2013. Amunix invested in Versartis in their $20M Series D round.


Latest Investments by Amunix

Versartis
Description
Versartis was a Redwood City, California-headquartered biotechnology company focused on long-acting therapeutic proteins for endocrine disorders. Founded in 2008, it advanced VRS-317, a once-monthly growth hormone for pediatric growth hormone deficiency, through Phase 2b trials. Utilizing Amunix's XTEN half-life extension technology, Versartis developed candidates for diabetes and hypoparathyroidism. The firm was acquired by Ascendis Pharma in 2019, integrating its pipeline into broader somatropin therapies.
HQ CountryUnited States
HQ City
San Francisco, CA
Deal Date8 Oct 2013
RoundSeries D
Raised$20M
InvestorsAdvent Venture Partners; Index Ventures; New Leaf Venture Partners; Sofinnova Investments; Aisling Capital
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Amunix Competitors

Amunix competitors include listed companies like Obsidian Therapeutics and Arbutus Biopharma, and private ones like BenevolentAI, FibroGen, Umoja Biopharma and Expedition Therapeutics.

Public and private companies comparable to Amunix
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
BenevolentAIUnited KingdomLondonPrivate$10M-$1B100.0x
Obsidian TherapeuticsUnited StatesUnited StatesPublicly listed-($104M)$1.1B-
FibroGenUnited StatesSan Francisco, CAPrivate$108M-$1.2B11.3x
Umoja BiopharmaUnited StatesSeattle, WAPrivate--$800M-
Expedition TherapeuticsUnited StatesSan Francisco, CAPrivate--$650M-
Arbutus BiopharmaUnited StatesUnited StatesPublicly listed$14M($37M)$1B6.8x

Amunix Public Comps

Amunix is no longer listed, but its public comps include Arbutus Biopharma, Kolon TissueGene, Star Lake Bioscience, SSY Group, Helus Pharma, Alumis, GuangYuYuan Chinese, Vetoquinol, Amphastar Pharma and Adlai Nortye.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Arbutus Biopharma$14M($37M)64.6x6.8x(24.6x)-
Kolon TissueGene$4M($141M)261.1x239.4x(7.0x)(57.8x)
Star Lake Bioscience$2.4B$314M0.8x0.8x6.0x7.3x
SSY Group$530M$144M2.5x-9.2x-
Helus Pharma-($153M)--(5.4x)(4.8x)
Alumis$24M($263M)22.6x47.6x(2.1x)(1.5x)
GuangYuYuan Chinese$204M$23M4.5x-40.5x-
Vetoquinol$605M$127M1.3x1.3x5.9x5.9x

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Common questions about Amunix

When was Amunix founded?Amunix was founded in 2006.
Where is Amunix headquartered?Amunix is headquartered in San Francisco, CA, United States.
Is Amunix publicly listed?No, Amunix was acquired by Sanofi in December 2021.
Who acquired Amunix?Amunix was acquired by Sanofi in December 2021.
How much was Amunix acquired for?Amunix was acquired for $1B in December 2021.
How much funding has Amunix raised?Amunix has raised $190M across 2 funding rounds.
What was Amunix's last funding round?Amunix's last funding round was a $117M Series B in March 2021, led by Viking Global Investors.
Who are Amunix's investors?Amunix's investors include Redmile Group, Delian Capital, Casdin Capital, Polaris Partners, Two River, Frazier Healthcare Partners, Venrock, Omega Funds, Viking Global Investors and Longitude Capital.
Which companies are comparable to Amunix?Companies comparable to Amunix include BenevolentAI, Obsidian Therapeutics, FibroGen, Umoja Biopharma, Expedition Therapeutics and Arbutus Biopharma.
How many companies has Amunix invested in?Amunix has invested in 1 company, including Versartis.
What was Amunix's last investment?In October 2013, Amunix invested in Versartis' $20M Series D alongside Advent Venture Partners, Index Ventures, New Leaf Venture Partners and 2 other investors.

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