BlackThorn Therapeutics Funding, Investors & Competitors

BlackThorn Therapeutics has raised $130M across 3 funding rounds, most recently a $76M Series B in June 2019.

Last BlackThorn Therapeutics funding round

$76M

Series B · Jun 2019

Cumulative funding BlackThorn Therapeutics raised

$130M

across 3 funding rounds

Key investors in BlackThorn Therapeutics

  • GV
  • Alexandria Venture Investments
  • ARCH Venture Partners
  • Johnson & Johnson Innovation
  • Mercury Fund
  • Altitude Life Science Ventures
  • Biomatics Capital Partners
  • Polaris Partners

BlackThorn Therapeutics Overview

About BlackThorn Therapeutics

BlackThorn Therapeutics is a San Francisco-headquartered clinical-stage biopharmaceutical company targeting central nervous system disorders. Its pipeline includes BTRX-246040 for neurogenic orthostatic hypotension in Phase 2 trials and a computational platform identifying brain circuit targets for mood and anxiety conditions.


Founded

2015

HQ

United StatesSan Francisco, CA

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

BlackThorn Therapeutics Funding History

BlackThorn Therapeutics has raised a total of $130M across 3 funding rounds.

BlackThorn Therapeutics' first fundraising round was a $40M Series A in October 2016. The most recent completed round was a $76M Series B in June 2019.

BlackThorn Therapeutics funding rounds

BlackThorn Therapeutics funding rounds
DateStageInvestorsRaisedDeal Summary
Jun 2019Series BThe Scripps Research Institute; GV; Vertex Ventures HC; Alexandria Venture Investments; Polaris Partners; Biomatics Capital Partners; Premier Partners; Altitude Life Science Ventures; Mercury Fund; Johnson & Johnson Innovation; ARCH Venture Partners$76MBlackThorn Therapeutics is a San Francisco-based clinical-stage neurobehavioral health company founded in 2015 and spun out of Scripps Research Institute in 2013. The company uses artificial intelligence and machine learning combined with computational sciences to develop targeted therapeutics for brain disorders, specifically focusing on identifying patient subgroups most likely to respond to treatment through patient enrichment strategies. BlackThorn's lead program is BTRX-335140, a kappa opioid receptor antagonist for mood and anxiety disorders, which was in Phase I clinical development with plans to enter Phase II trials by the end of 2019. The company's second program, BTRX-323511, targets vasopressin 1a receptors for social-emotional disorders including autism spectrum disorder, with an IND filing planned for early 2020. In June 2019, BlackThorn closed a $76 million Series B financing round led by new investors Polaris Partners, Premier Partners, Scripps Research, and Vertex Ventures HC, alongside existing backers including Google Ventures, Johnson & Johnson Innovation, ARCH Venture Partners, Alexandria Venture Investments, Altitude Life Science Ventures, Biomatics Capital, and Mercury Fund. The Series B funding supported advancement of BTRX-335140 into Phase II trials and expansion of the company's computational and data-driven technology platform. The company also made executive appointments during this period, adding Dr. Jane Tiller as chief medical officer and Laura Hansen as vice president of corporate affairs. As of the Series B close, BlackThorn had raised $130 million across seven funding rounds since inception.
Jan 2017Series ABiomatics Capital Partners (lead); GV (lead)$14MBlackThorn Therapeutics is a San Francisco-based neurobehavioral health company using machine learning and computational sciences to develop personalized medicine for mental health disorders. The company's platform combines brain imaging, behavioral evaluation, and a cloud-based data tool called PathFinder to design more precise clinical trials and address patient heterogeneity in neuropsychiatric drug development. In January 2017, BlackThorn closed a Series A financing round of $14 million. The company's lead therapeutic candidates include BTRX-335140 for mood and anxiety disorders, which later showed positive Phase I results in April 2019, and BTRX-323511 in preclinical development for autism spectrum disorder.
Oct 2016Series AARCH Venture Partners (lead); Alexandria Venture Investments; Altitude Life Science Ventures; Mercury Fund; Johnson & Johnson Innovation$40MBlackThorn Therapeutics is a clinical-stage neurobehavioral health company founded in 2013 as a spinout from the Scripps Research Institute. The company pioneers artificial intelligence and machine learning technologies to advance targeted therapeutics for psychiatric and neurological disorders, including mood, anxiety, and autism-related conditions. BlackThorn's proprietary approach relies on combining a large library of deeply phenotyped clinical neurobiological data with cloud-based AI platforms to identify patient subgroups most likely to respond to specific drug candidates, addressing a historical challenge in neuropsychiatric drug development where patient heterogeneity has hampered clinical trial success. On October 20, 2016, BlackThorn closed a $40 million Series A funding round led by existing investor ARCH Venture Partners, with participation from Altitude Life Science Ventures, Johnson & Johnson Innovation (JJDC), Mercury Fund, newly added Alexandria Real Estate Equities, and an undisclosed crossover fund. The company's lead candidates in development included BTRX-335140 for mood and anxiety disorders and BTRX-323511 in preclinical development for autism. As a clinical-stage company at the time of the 2016 Series A round, BlackThorn had not yet generated commercial revenue. The company subsequently raised a $76 million Series B in June 2019 from new investors Polaris Partners, Premier Partners, Scripps Research, and Vertex Ventures HC, alongside existing backers, with the proceeds supporting advancement of its drug pipeline and expansion of its clinical team and platform capabilities.

Who has invested in BlackThorn Therapeutics?

11 investors have backed BlackThorn Therapeutics across its funding rounds, including GV, Alexandria Venture Investments, ARCH Venture Partners, Johnson & Johnson Innovation, Mercury Fund and Altitude Life Science Ventures.

Lead investors include Biomatics Capital Partners, GV and ARCH Venture Partners.


BlackThorn Therapeutics Investors

Investors in BlackThorn Therapeutics by funding rounds participated
InvestorHQRoundsRoleFirst check
GVUnited StatesSan Francisco, CA2LeadJan 2017
Alexandria Venture InvestmentsUnited StatesLos Angeles, CA2ParticipantOct 2016
Biomatics Capital PartnersUnited StatesSeattle, WA2LeadJan 2017
Altitude Life Science VenturesUnited StatesDurango, CO2ParticipantOct 2016
Mercury FundUnited StatesHouston, TX2ParticipantOct 2016
Johnson & Johnson InnovationUnited StatesUnited States2ParticipantOct 2016
ARCH Venture PartnersUnited StatesChicago, IL2LeadOct 2016
The Scripps Research InstituteUnited StatesSan Diego, CA1ParticipantJun 2019
Vertex Ventures HCUnited StatesSan Francisco, CA1ParticipantJun 2019

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BlackThorn Therapeutics Competitors

BlackThorn Therapeutics competitors include listed companies like Johnson & Johnson, Shionogi and Eli Lilly, and private ones like NewLimit, MindMaze and BrightInsight.

Public and private companies comparable to BlackThorn Therapeutics
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
NewLimitUnited StatesSan Francisco, CAPrivate--$3.1B-
Johnson & JohnsonUnited StatesUnited StatesPublicly listed$94B$40B$651B6.8x
ShionogiJapanJapanPublicly listed$3.2B$1.2B$16B4.4x
MindMazeSwitzerlandLausannePrivate$8M-$1.5B187.5x
BrightInsightUnited StatesSan Francisco, CAPrivate--$750M-
Eli LillyUnited StatesUnited StatesPublicly listed$65B$28B$1.0T13.1x

BlackThorn Therapeutics Public Comps

BlackThorn Therapeutics is still privately-owned, but its public comps include Eli Lilly, Johnson & Johnson, AbbVie, Merck, Roche, Novartis, AstraZeneca, Amgen, Novo Nordisk and Gilead Sciences.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Eli Lilly$65B$28B16.5x13.1x38.7x27.0x
Johnson & Johnson$94B$40B7.2x6.8x17.0x18.3x
AbbVie$61B$17B8.7x8.1x30.6x17.6x
Merck$65B$28B6.3x6.2x14.7x21.0x
Roche$77B$26B5.0x4.9x14.6x12.4x
Novartis$57B$22B5.5x5.5x14.2x13.3x
AstraZeneca$59B$19B4.8x4.5x14.6x12.7x
Amgen$37B$17B6.8x6.5x14.8x14.4x

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Common questions about BlackThorn Therapeutics

When was BlackThorn Therapeutics founded?BlackThorn Therapeutics was founded in 2015.
Where is BlackThorn Therapeutics headquartered?BlackThorn Therapeutics is headquartered in San Francisco, CA, United States.
Is BlackThorn Therapeutics publicly listed?No, BlackThorn Therapeutics is a private, VC-backed company.
How much funding has BlackThorn Therapeutics raised?BlackThorn Therapeutics has raised $130M across 3 funding rounds.
What was BlackThorn Therapeutics' last funding round?BlackThorn Therapeutics' last funding round was a $76M Series B in June 2019.
Who are BlackThorn Therapeutics' investors?BlackThorn Therapeutics' investors include GV, Alexandria Venture Investments, Biomatics Capital Partners, Altitude Life Science Ventures, Mercury Fund, Johnson & Johnson Innovation, ARCH Venture Partners, The Scripps Research Institute, Vertex Ventures HC, Polaris Partners and 1 other.
Which companies are comparable to BlackThorn Therapeutics?Companies comparable to BlackThorn Therapeutics include NewLimit, Johnson & Johnson, Shionogi, MindMaze, BrightInsight and Eli Lilly.

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