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- Character Biosciences
Character Biosciences Valuation, Funding & Investors
Character Biosciences is valued at $356M as of March 2025.
Last Character Biosciences valuation
$356M
Series B · Mar 2025
Last Character Biosciences funding round
$17M
Series B · Sep 2025
Cumulative funding Character Biosciences raised
$137M
across 5 funding rounds
Key investors in Character Biosciences
Innovation Endeavors
Casdin Capital
Industry Ventures
S32
Cantos
Catalio Capital Management
Character Biosciences Overview
About Character Biosciences
Character Biosciences is a San Francisco-headquartered therapeutics developer applying genomics, longitudinal imaging, and machine learning to uncover disease progression drivers. Collaborations with health systems build phenotyped cohorts for research into ophthalmology and neurodegeneration, yielding targeted drug candidates.
Founded
2018
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Services
Valuation
$356M (Mar 2025)
Character Biosciences Valuation
Character Biosciences is currently valued at $356M, based on its Series B in March 2025.
The $93M round was led by aMoon Fund and Luma Group, with participation from Bausch + Lomb, Jefferson Life Sciences, Innovation Endeavors, S32, KdT Ventures and 1 other investor.
Character Biosciences valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Mar 2025 | Series B | $356M |
Character Biosciences Funding History
Character Biosciences has raised a total of $137M across 5 funding rounds.
Character Biosciences' first fundraising round was a $3M pre-seed round in September 2019. The most recent completed round was a $17M Series B in September 2025.
Character Biosciences funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Sep 2025 | Series B | Sanofi Ventures (lead) | $17M | - | Character Biosciences is an ophthalmology-focused biotech developing treatments for degenerative eye diseases. It secured additional Series B financing including participation from Sanofi Ventures, along with new and existing investors, bringing the total Series B to $93 million or extended to $110 million. The proceeds will advance its pipeline and support leadership expansions, including hires for chief medical officer, chief data & analytics officer, head of clinical network, and head of people. Sanofi Ventures participated in this extension as part of its investments in neuroscience and ophthalmology biotechs. |
| Mar 2025 | Series B | aMoon Fund (lead); Luma Group (lead); Bausch + Lomb; Jefferson Life Sciences; Innovation Endeavors; S32; KdT Ventures; Catalio Capital Management | $93M | $356M | Character Biosciences, a precision medicine company based in Jersey City, N.J., originally launched as Clover Therapeutics in 2019 and rebranded in 2022, focuses on transforming drug development for polygenic diseases, particularly degenerative eye diseases like age-related macular degeneration (AMD). The company uses a multi-omics approach, combining genetics, imaging, and patient outcomes from an observational study with over 5,000 patients enrolled across 150 U.S. ophthalmology centers, to identify disease subtypes and develop targeted therapies. On March 25, 2025, Character Biosciences announced an oversubscribed $93 million Series B financing round, co-led by aMoon Fund and Luma Group, with participation from Bausch + Lomb, Jefferson Life Sciences, and existing investors Innovation Endeavors, Catalio Capital Management, S32, and KdT Ventures. The proceeds will fund Phase 1 and Phase 2 proof-of-concept studies for lead candidates CTX203, a first-in-class lipid regulator to prevent progression to advanced AMD, and CTX114, a best-in-class complement inhibitor for geographic atrophy in advanced dry AMD. Funds will also expand the pipeline into additional ophthalmic diseases, including primary open-angle glaucoma. The company plans to initiate first-in-human trials for CTX203 and CTX114 in 2026, alongside undisclosed early-stage AMD and glaucoma programs. In January 2025, Character entered a collaboration with Bausch + Lomb, including an upfront payment, annual research funding, and potential milestones and royalties for AMD therapeutics. A post-money valuation of around $356 million was reported for this round. Previously, as Clover Therapeutics, it raised $28 million. |
| May 2022 | Series A | Innovation Endeavors (lead); Industry Ventures; Casdin Capital; Milad Alucozai; S32; Catalio Capital Management; Shane Neman; Lifeforce Capital; Cantos | $18M | - | Character Biosciences, formerly Clover Therapeutics, is a precision medicine platform founded in 2019 that integrates genomics, deep phenotyping, machine learning, and longitudinal clinical data to identify molecular drivers of age-related diseases like Age-related Macular Degeneration (AMD) and develop targeted therapies. The company partners with patients, providers, payers, and scientists to build deeply-phenotyped cohorts for clinical genomics research, focusing on genetically-defined diseases of aging. On May 17, 2022, Character Biosciences raised $18 million in a Series A funding round led by Innovation Endeavors, with participation from Cantos Ventures, Casdin Capital, Catalio Capital Management, Industry Ventures (or Lifeforce Capital), Section 32 (S32), and others matching the queried investors. The proceeds are intended to advance personalized medicine efforts, particularly in diseases such as AMD. The company has since progressed, securing later Series B financings including a $93M oversubscribed round in early 2025 co-led by aMoon and Luma Group, with participation from Bausch + Lomb, Jefferson Life Sciences, and existing investors like Innovation Endeavors and Catalio, followed by a $17M extension in September 2025 bringing Series B total over $110M, supporting Phase 1/2 trials for candidates CTX203 and CTX114. |
| Apr 2020 | Seed | Lifeforce Capital (lead); Industry Ventures; Casdin Capital; KdT Ventures; Cantos | $6M | - | Character Biosciences, founded in 2019 and formerly known as Clover Therapeutics, is a precision medicine platform focused on diseases of aging. The company integrates genomics, deep phenotyping, machine learning, and longitudinal clinical data to discover drug targets and biomarkers for genetically-defined diseases such as age-related macular degeneration. In March 2020, the company raised $6 million in seed funding from investors including Lifeforce Capital, Casdin Capital, Industry Ventures, and Cantos Ventures. The company later raised $18 million in a Series A round led by Innovation Endeavors on May 17, 2022. Character Biosciences was incubated by Clover Health and partners with patients, providers, payers, and scientists to create large deeply-phenotyped patient cohorts for clinical genomics research. As of early 2024, the company was valued at $203 million across all funding rounds. |
| Sep 2019 | Pre-seed | - | $3M | - | Character Biosciences, originally launched in 2019 as Clover Therapeutics and rebranded in 2022, is a precision medicine company focused on transforming drug development for polygenic diseases, particularly degenerative eye diseases like age-related macular degeneration (AMD). The company develops targeted therapies using a multi-omics, patient-first approach to identify disease subtypes and those most likely to benefit from treatment. In March 2025, Character Biosciences raised an oversubscribed $93 million Series B financing round, co-led by aMoon and Luma Group, with participation from Bausch + Lomb, Jefferson Life Sciences, and existing investors including Innovation Endeavors, Catalio Capital Management, S32, and KdT Ventures. The round later expanded with a $17 million extension in September 2025, bringing the total Series B to over $110 million, including investment from Sanofi Ventures. Previously, the company raised $28 million in earlier funding. Proceeds from the Series B support Phase 1 and Phase 2 studies for lead candidates CTX114 (for geographic atrophy in AMD) and CTX203 (to halt progression in intermediate AMD), as well as pipeline expansion into other ophthalmic diseases. In January 2025, Character announced a collaboration with Bausch + Lomb, including an upfront payment and potential milestones and royalties for AMD therapeutics. |
Who has invested in Character Biosciences?
15 investors have backed Character Biosciences across its funding rounds, including Innovation Endeavors, Casdin Capital, Industry Ventures, S32, Cantos and Catalio Capital Management.
Lead investors include Sanofi Ventures, aMoon Fund, Luma Group, Innovation Endeavors and Lifeforce Capital.
Character Biosciences Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Participant | Apr 2020 | ||
| 2 | Participant | Apr 2020 | ||
| 2 | Lead | May 2022 | ||
| 2 | Participant | May 2022 | ||
| 2 | Participant | Apr 2020 | ||
| 2 | Participant | May 2022 | ||
| 2 | Lead | Apr 2020 | ||
| 2 | Participant | Apr 2020 | ||
| 1 | Participant | Mar 2025 | ||
| -- | 1 | Participant | Mar 2025 | |
| 1 | Lead | Mar 2025 | ||
| 1 | Participant | May 2022 | ||
| 1 | Lead | Mar 2025 | ||
This data is available for Pro users. Sign up to see all 15 Character Biosciences 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 TrialCharacter Biosciences Competitors
Character Biosciences competitors include listed companies like Korro Bio and Personalis, and private ones like Inscripta, Mammoth Biosciences, Vanqua Bio and Genesis Healthcare.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $565M | - | ||
| Publicly listed | $6M | ($112M) | $174M | 48.9x | ||
| Private | - | - | $1B | - | ||
| Publicly listed | $70M | ($78M) | $1.7B | 20.1x | ||
| Private | - | - | $333M | - | ||
| Private | - | - | $389M | - |
Character Biosciences Public Comps
Character Biosciences is still privately-owned, but its public comps include Tauns Laboratories, Myriad Genetics, Alpha Teknova, Prenetics Global, Abclon, Pacific Biosciences, Eikon Therapeutics, Atrys Health, Avacta Group and ToolGen.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $120M | $58M | 3.9x | 5.0x | 8.1x | 12.9x | |||
| $825M | ($332M) | 0.6x | 0.6x | (1.5x) | (16.8x) | |||
| $41M | ($10M) | 10.1x | 9.2x | (40.4x) | (62.7x) | |||
| $92M | ($33M) | 3.2x | 1.6x | (9.0x) | (8.3x) | |||
| $3M | ($12M) | 79.2x | - | (22.2x) | - | |||
| $160M | ($153M) | 5.6x | 5.6x | (5.9x) | (6.9x) | |||
| - | ($315M) | - | - | (0.6x) | (0.5x) | |||
| $162M | ($12M) | 2.3x | 2.1x | (30.2x) | 14.9x | |||
This data is available for Pro users. Sign up to see all Character Biosciences competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Character Biosciences
| When was Character Biosciences founded? | Character Biosciences was founded in 2018. |
| Where is Character Biosciences headquartered? | Character Biosciences is headquartered in Jersey City, NJ, United States. |
| Is Character Biosciences publicly listed? | No, Character Biosciences is a private, VC-backed company. |
| What is Character Biosciences' valuation? | Character Biosciences was last valued at $356M in its Series B in March 2025. |
| How much funding has Character Biosciences raised? | Character Biosciences has raised $137M across 5 funding rounds. |
| What was Character Biosciences' last funding round? | Character Biosciences' last funding round was a $17M Series B in September 2025, led by Sanofi Ventures. |
| Who are Character Biosciences' investors? | Character Biosciences' investors include Industry Ventures, Casdin Capital, Innovation Endeavors, S32, KdT Ventures, Catalio Capital Management, Lifeforce Capital, Cantos, Bausch + Lomb, Jefferson Life Sciences and 5 others. |
| Which companies are comparable to Character Biosciences? | Companies comparable to Character Biosciences include Inscripta, Korro Bio, Mammoth Biosciences, Personalis, Vanqua Bio and Genesis Healthcare. |
See companies similar to Character Biosciences
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