City Therapeutics Valuation, Funding & Investors

City Therapeutics is valued at $281M as of October 2024.

Last City Therapeutics valuation

$281M

Series A · Oct 2024

Last City Therapeutics funding round

$100M

Series B · Jun 2026

Cumulative funding City Therapeutics raised

$235M

across 2 funding rounds

Key investors in City Therapeutics

  • Fidelity
  • ARCH Venture Partners
  • Invus
  • Rock Springs Capital
  • Regeneron Ventures
  • AN Ventures

City Therapeutics Overview

About City Therapeutics

City Therapeutics engineers enhanced small-interfering RNAs for RNAi therapeutics targeting liver, muscle, and CNS diseases from its Boston headquarters. Founded in 2023, the biopharma advances a pipeline of siRNA candidates improving delivery and potency, backed by ARCH Venture Partners and Takeda. Its platform conjugates lipids and GalNAc for extrahepatic tissue targeting in metabolic and neuromuscular disorders.


HQ

United StatesUnited States

Website

citytx.com

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Valuation

$281M (Oct 2024)

City Therapeutics Valuation

City Therapeutics is currently valued at $281M, based on its Series A in October 2024.

The $135M round was led by ARCH Venture Partners, with participation from Fidelity, Invus, Rock Springs Capital, Slate Path Capital, AN Ventures and 1 other investor.

City Therapeutics valuation by funding round

City Therapeutics valuation by funding round
DateStageValuation
Oct 2024Series A$281M

City Therapeutics Funding History

City Therapeutics has raised a total of $235M across 2 funding rounds.

City Therapeutics' first fundraising round was a $135M Series A in October 2024. The most recent completed round was a $100M Series B in June 2026.

City Therapeutics funding rounds

City Therapeutics funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jun 2026Series BSofinnova Investments (lead); Viking Global Investors (lead); Fidelity; Casdin Capital; Invus; Rock Springs Capital; NYBC Ventures; Slate Path Capital; AN Ventures; Regeneron Ventures; ARCH Venture Partners$100M-City Therapeutics completed a $99.5 million Series B financing on June 9, 2026, to advance its next-generation RNAi therapeutics platform and pipeline. New investors in the round included Viking Global Investors, Sofinnova Investments, Casdin Capital, and NYBC Ventures, alongside existing investors ARCH Venture Partners, Fidelity Management & Research Company, Invus, Slate Path Capital, Rock Springs Capital, Regeneron Ventures, and AN Ventures. The financing is intended to support continued development of City Therapeutics’ RNA interference-based medicine programs. The company is described as a biopharmaceutical company focused on next-generation RNAi therapeutics, with the round positioned as a platform and pipeline expansion event rather than a strategic acquisition or buyout. City Therapeutics is based in Cambridge, Massachusetts. The available information identifies the company as an RNAi-focused biopharmaceutical firm, but does not provide revenue, EBITDA, employee count, or deal valuation beyond the financing amount.
Oct 2024Series AARCH Venture Partners (lead); Fidelity; Invus; Rock Springs Capital; Slate Path Capital; AN Ventures; Regeneron Ventures$135M$281MCity Therapeutics is a Cambridge, MA-based biopharmaceutical company developing next-generation RNAi-based medicines through engineering small interfering RNAs (siRNAs) to address challenges like off-target effects, stability, and delivery, enabling broader therapeutic applications across multiple areas. Co-founded by RNAi pioneer John Maraganore (former Alnylam CEO, now executive chair), Ari Nowacek, Robert Nelsen (ARCH Venture Partners), and Sebastian Trousil, the company launched in October 2024 with a $135 million Series A financing led by ARCH Venture Partners. Participants included Fidelity Management & Research Company, Invus, Slate Path Capital, Rock Springs Capital, Regeneron Ventures, AN Ventures, and others. The funding supports building a pipeline of innovative RNAi therapeutics, with the lead program expected to enter clinical development by end of 2025 and the product engine targeting one to two new IND filings annually starting in 2026. Key platform innovations include novel RNAi triggers like cleavage-inducing tiny RNAs and tailored targeting ligands for improved potency, specificity, and tissue access. The post-money valuation for this Series A was $280.73 million, with a price per share of $10.03. Leadership includes CSO Tracy Zimmermann (ex-Generation Bio, Alnylam), and the board features Barry Greene (ex-Alnylam, Sage Therapeutics) and Ron Philip (Orbital Therapeutics). City Therapeutics positions itself to lead the next wave of RNAi medicines, potentially rivaling monoclonal antibodies in impact, building on Alnylam alumni expertise. A follow-on Series A-II round of $16 million occurred on May 27, 2025, bringing total funding to $181 million.

Who has invested in City Therapeutics?

11 investors have backed City Therapeutics across its funding rounds, including Fidelity, ARCH Venture Partners, Invus, Rock Springs Capital, Regeneron Ventures and AN Ventures.

Lead investors include Sofinnova Investments, Viking Global Investors and ARCH Venture Partners.


City Therapeutics Investors

Investors in City Therapeutics by funding rounds participated
InvestorHQRoundsRoleFirst check
FidelityUnited StatesBoston, MA2ParticipantOct 2024
InvusUnited StatesNew York City, NY2ParticipantOct 2024
Rock Springs CapitalUnited StatesBaltimore, MD2ParticipantOct 2024
Slate Path CapitalUnited StatesNew York City, NY2ParticipantOct 2024
AN VenturesUnited StatesSan Francisco, CA2ParticipantOct 2024
Regeneron VenturesUnited StatesGreenwich, CT2ParticipantOct 2024
ARCH Venture PartnersUnited StatesChicago, IL2LeadOct 2024
Casdin CapitalUnited StatesNew York City, NY1ParticipantJun 2026
NYBC VenturesUnited StatesBoston, MA1ParticipantJun 2026

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City Therapeutics Competitors

City Therapeutics competitors include listed companies like Tiansheng Pharmaceutical and Racura Oncology, and private ones like GC Therapeutics, Vedanta Biosciences, HebeCell and Inceptive.

Public and private companies comparable to City Therapeutics
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
GC TherapeuticsUnited StatesBoston, MAPrivate--$280M-
Vedanta BiosciencesUnited StatesUnited StatesPrivate--$287M-
HebeCellUnited StatesBoston, MAPrivate--$268M-
InceptiveUnited StatesSan Francisco, CAPrivate--$300M-
Tiansheng PharmaceuticalChinaChinaPublicly listed$77M$10M$282M-
Racura OncologyAustraliaAustraliaPublicly listed$2M($8M)$282M127.8x

City Therapeutics Public Comps

City Therapeutics is still privately-owned, but its public comps include Tiansheng Pharmaceutical, Racura Oncology, Northwest Biotherapeutics, Antibiotice, Polaris Group, PegBio, Duopharma Biotech, Transgene, Pyxis Oncology and Fulcrum Therapeutics.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Tiansheng Pharmaceutical$77M$10M3.8x-30.3x-
Racura Oncology$2M($8M)127.8x127.8x(31.7x)(74.9x)
Northwest Biotherapeutics$1M($50M)252.9x-(7.0x)(5.7x)
Antibiotice$141M$26M2.5x-13.8x-
Polaris Group$1M($111M)220.1x-(2.5x)-
PegBio-($31M)--(7.1x)-
Duopharma Biotech$228M$44M1.4x1.4x7.6x6.9x
Transgene$564K($40M)261.2x17.1x(3.7x)(3.4x)

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Common questions about City Therapeutics

Where is City Therapeutics headquartered?City Therapeutics is headquartered in United States.
Is City Therapeutics publicly listed?No, City Therapeutics is a private, VC-backed company.
What is City Therapeutics' valuation?City Therapeutics was last valued at $281M in its Series A in October 2024.
How much funding has City Therapeutics raised?City Therapeutics has raised $235M across 2 funding rounds.
What was City Therapeutics' last funding round?City Therapeutics' last funding round was a $100M Series B in June 2026, led by Sofinnova Investments and Viking Global Investors.
Who are City Therapeutics' investors?City Therapeutics' investors include Fidelity, Invus, Rock Springs Capital, Slate Path Capital, AN Ventures, Regeneron Ventures, ARCH Venture Partners, Casdin Capital, NYBC Ventures, Sofinnova Investments and 1 other.
Which companies are comparable to City Therapeutics?Companies comparable to City Therapeutics include GC Therapeutics, Vedanta Biosciences, HebeCell, Inceptive, Tiansheng Pharmaceutical and Racura Oncology.

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