ArsenalBio Valuation, Funding & Investors

ArsenalBio is valued at $1.9B as of September 2024.

Last ArsenalBio valuation

$1.9B

Series C · Sep 2024

Last ArsenalBio funding round

$325M

Series C · Sep 2024

Cumulative funding ArsenalBio raised

$631M

across 3 funding rounds

Key investors in ArsenalBio

ArsenalBio Overview

About ArsenalBio

ArsenalBio is a South San Francisco-based, clinical-stage cell therapy company that engineers CAR T-cell therapies using CRISPR-based genome editing and logic-gating technology. Its pipeline targets solid tumors including ovarian, kidney, and prostate cancers, with its lead candidate, AB-2100, in Phase 1/2 trials for clear-cell renal cell carcinoma under a collaboration with Bristol-Myers Squibb. The platform is designed to address T-cell exhaustion, tumor specificity, and genome toxicity, challenges that have limited CAR T therapies in solid tumors.


Founded

2019

HQ

United StatesUnited States

Status

Privately held

Customer focus

B2C

Revenue model

Product sales

Valuation

$1.9B (Sep 2024)

ArsenalBio Valuation

ArsenalBio is currently valued at $1.9B, based on its Series C in September 2024.

The $325M round included Parker Institute for Cancer Immunotherapy, Kleiner Perkins, SoftBank Group, NVentures, Byers Capital and 7 other investors.

ArsenalBio valuation by funding round

ArsenalBio valuation by funding round
DateStageValuation
Sep 2024Series C$1.9B

ArsenalBio Funding History

ArsenalBio has raised a total of $631M across 3 funding rounds.

ArsenalBio's first fundraising round was a $85M Series A in October 2019. The most recent completed round was a $325M Series C in September 2024.

ArsenalBio funding rounds

ArsenalBio funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Sep 2024Series CParker Institute for Cancer Immunotherapy; Kleiner Perkins; SoftBank Group; NVentures; Byers Capital; Luma Group; T. Rowe Price; Bristol-Myers Squibb; Hitachi Ventures; Milky Way Investments Group; Regeneron Ventures; ARCH Venture Partners$325M$1.9BArsenalBio is a clinical-stage programmable cell therapy company based in South San Francisco, California, focused on engineering advanced CAR T-cell therapies using CRISPR-enabled genome editing and logic gating for solid tumors including ovarian, kidney, prostate cancers, and others via collaboration with Bristol-Myers Squibb. The company announced an oversubscribed $325 million Series C financing on September 4, 2024, matching the specified investors: new participants ARCH Venture Partners, Bristol-Myers Squibb, Milky Way Investments Group, NVentures (NVIDIA), Luma Group, T. Rowe Price, Regeneron Ventures, among others, alongside existing backers like Parker Institute for Cancer Immunotherapy, SoftBank Vision Fund 2, Kleiner Perkins, Byers Capital, and Hitachi Ventures. Proceeds will advance lead programs like AB-2100 (Phase 1/2 for clear-cell renal cell carcinoma, FDA Fast Track) through clinical development, expand the pipeline, scale manufacturing, and innovate discovery tools. Secondary market data lists total funding at $630.8M with $1.9B valuation post-round. ArsenalBio recently dosed initial patients in AB-2100 trial in April 2024 and presented research at SITC on T-cell exhaustion solutions; CEO Ken Drazan named EY Entrepreneur of the Year 2025 Bay Area winner.
Sep 2022Series BSoftBank Group (lead); Parker Institute for Cancer Immunotherapy; Emerson Collective; Waycross Ventures; Kleiner Perkins; Byers Capital; Sixth Street; Green Sands Equity; Bristol-Myers Squibb; Hitachi Ventures; Triatomic Capital; Euclidean Capital$221M-ArsenalBio is a South San Francisco-based programmable cell therapy company developing advanced CAR T therapies for solid tumors, including candidates for ovarian, kidney, prostate, and other cancers. The company closed a $220 million oversubscribed Series B financing round on September 6, 2022, led by SoftBank Vision Fund 2, with new investors including Bristol-Myers Squibb, Byers Capital, Emerson Collective, Green Sands Equity, Hitachi Ventures, Sixth Street, and others, alongside existing investors such as Parker Institute for Cancer Immunotherapy, Westlake Village BioPartners, UCSF Foundation Investment Company, Euclidean Capital, Waycross Ventures, and Kleiner Perkins. Proceeds were allocated to expand research activities, grow the pipeline of therapeutic candidates for solid tumor malignancies, and advance programs toward clinical development, particularly the lead candidate AB-1015 for ovarian cancer, which received FDA IND clearance with first patient dosing targeted later that year. At the time of the Series B, ArsenalBio was preparing to enter clinical trials, building on preclinical promise of its programmable cell therapy technology to address unmet needs in cancer treatment. The round followed prior collaborations, including a January 2022 partnership with Bristol Myers Squibb for solid tumor programs and a September 2022 deal with Genentech worth $70 million upfront plus milestones. CEO Ken Drazan emphasized the technology's potential to alleviate suffering from devastating cancers like ovarian cancer. SoftBank's Valentin Barsan joined the board, bringing expertise in CAR T therapies. This Series B came after an $85 million Series A and preceded a $325 million Series C in 2024, supported by some of the same investors plus new ones like Nvidia, Regeneron, and T. Rowe Price. ArsenalBio's pipeline advanced post-Series B, with initial patient dosing in a Phase I/II trial of AB-2100 for clear-cell renal cell carcinoma announced in April 2024, and ongoing development of AB-1015 for ovarian cancer. The company leverages a toolkit addressing T-cell exhaustion, tumor specificity, and genome toxicity to differentiate in the challenging solid tumor CAR-T space.
Oct 2019Series AParker Institute for Cancer Immunotherapy; UCSF Foundation Investment Company; Kleiner Perkins; University of California; Westlake Village BioPartners; Euclidean Capital; OUP (Osage University Partners)$85M-ArsenalBio emerged from stealth on October 17, 2019, with an $85 million Series A financing round backed by Westlake Village BioPartners, the Parker Institute for Cancer Immunotherapy (PICI), Kleiner Perkins, the UCSF Foundation Investment Company, Euclidean Capital, and Osage University Partners. The company is a programmable cell therapy company focused on integrating CRISPR-based genome engineering, scaled and high-throughput target identification, synthetic biology, and machine learning to discover and develop immune cell therapies, initially targeting cancer. The company's founding leadership included Chief Executive Officer Ken Drazan, MD, alongside scientific leaders including Jane Grogan, Michael Kalos, and Tarjei Mikkelsen, with the scientific foundation stemming from Sean Parker's Institute for Cancer Immunotherapy established in 2016. ArsenalBio's technology platform enables the insertion of large DNA sequences and the rewriting of T cell functions to make them more effective at killing cancer cells and addressing other diseases, with aspirations toward outpatient treatment procedures. The Series A funds were allocated to hiring staff, expanding the business, and early-stage development, with clinical trials expected to begin several years after the funding round.

Who has invested in ArsenalBio?

22 investors have backed ArsenalBio across its funding rounds, including Kleiner Perkins, Parker Institute for Cancer Immunotherapy, SoftBank Group, Bristol-Myers Squibb, Hitachi Ventures and Euclidean Capital.

Lead investors include SoftBank Group.


ArsenalBio Investors

Investors in ArsenalBio by funding rounds participated
InvestorHQRoundsRoleFirst check
Parker Institute for Cancer ImmunotherapyUnited StatesSan Francisco, CA3ParticipantOct 2019
Kleiner PerkinsUnited StatesSan Francisco, CA3ParticipantOct 2019
SoftBank GroupJapanTokyo2LeadSep 2022
Byers CapitalUnited StatesSan Francisco, CA2ParticipantSep 2022
Bristol-Myers SquibbUnited StatesNew York City, NY2ParticipantSep 2022
Hitachi VenturesGermanyMunich2ParticipantSep 2022
Euclidean CapitalUnited StatesNew York City, NY2ParticipantOct 2019
UCSF Foundation Investment CompanyUnited StatesUnited States1ParticipantOct 2019
Emerson CollectiveUnited StatesSan Francisco, CA1ParticipantSep 2022
Waycross VenturesUnited StatesSan Francisco, CA1ParticipantSep 2022
NVenturesUnited StatesSan Jose, CA1ParticipantSep 2024
Luma GroupUnited StatesNew York City, NY1ParticipantSep 2024
T. Rowe PriceUnited StatesBaltimore, MD1ParticipantSep 2024

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ArsenalBio Competitors

ArsenalBio competitors include listed companies like Insight Lifetech and Jafron Biomedical, and private ones like EverlyWell, Heyuan Biotechnology, Formation Bio and BioRay Pharmaceuticals.

Public and private companies comparable to ArsenalBio
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Insight LifetechChinaChinaPublicly listed$81M$18M$1.8B21.4x
Jafron BiomedicalChinaChinaPublicly listed$300M$123M$1.8B5.2x
EverlyWellUnited StatesAustin, TXPrivate$100M-$1.3B13.0x
Heyuan BiotechnologyChinaShanghaiPrivate--$3B-
Formation BioUnited StatesNew York City, NYPrivate--$1B-
BioRay PharmaceuticalsChinaShanghaiPrivate$131M-$1.9B14.5x

ArsenalBio Public Comps

ArsenalBio is still privately-owned, but its public comps include Recursion Pharmaceuticals, Mesoblast, Alvotech, Eris Lifesciences, OneSource Specialty, Voronoi, Pfizer India, Genus, Jinyu Bio-Technology Co. and Lakefront Biotherapeutics.

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
Genus$903M$122M2.2x2.2x16.4x11.3x

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Common questions about ArsenalBio

When was ArsenalBio founded?ArsenalBio was founded in 2019.
Where is ArsenalBio headquartered?ArsenalBio is headquartered in United States.
Is ArsenalBio publicly listed?No, ArsenalBio is a private, VC-backed company.
What is ArsenalBio's valuation?ArsenalBio was last valued at $1.9B in its Series C in September 2024.
How much funding has ArsenalBio raised?ArsenalBio has raised $631M across 3 funding rounds.
What was ArsenalBio's last funding round?ArsenalBio's last funding round was a $325M Series C in September 2024.
Who are ArsenalBio's investors?ArsenalBio's investors include Parker Institute for Cancer Immunotherapy, Kleiner Perkins, SoftBank Group, Byers Capital, Bristol-Myers Squibb, Hitachi Ventures, Euclidean Capital, UCSF Foundation Investment Company, Emerson Collective, Waycross Ventures and 12 others.
Which companies are comparable to ArsenalBio?Companies comparable to ArsenalBio include Insight Lifetech, Jafron Biomedical, EverlyWell, Heyuan Biotechnology, Formation Bio and BioRay Pharmaceuticals.

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