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- City Therapeutics
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
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
Website
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
| Date | Stage | Valuation |
|---|---|---|
| Oct 2024 | Series 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
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jun 2026 | Series B | Sofinnova 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 2024 | Series A | ARCH Venture Partners (lead); Fidelity; Invus; Rock Springs Capital; Slate Path Capital; AN Ventures; Regeneron Ventures | $135M | $281M | City 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
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Participant | Oct 2024 | ||
| 2 | Participant | Oct 2024 | ||
| 2 | Participant | Oct 2024 | ||
| 2 | Participant | Oct 2024 | ||
| 2 | Participant | Oct 2024 | ||
| 2 | Participant | Oct 2024 | ||
| 2 | Lead | Oct 2024 | ||
| 1 | Participant | Jun 2026 | ||
| 1 | Participant | Jun 2026 | ||
This data is available for Pro users. Sign up to see all 11 City Therapeutics 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 TrialCity 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.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $280M | - | ||
| Private | - | - | $287M | - | ||
| Private | - | - | $268M | - | ||
| Private | - | - | $300M | - | ||
| Publicly listed | $77M | $10M | $282M | - | ||
| Publicly listed | $2M | ($8M) | $282M | 127.8x |
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 FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $77M | $10M | 3.8x | - | 30.3x | - | |||
| $2M | ($8M) | 127.8x | 127.8x | (31.7x) | (74.9x) | |||
| $1M | ($50M) | 252.9x | - | (7.0x) | (5.7x) | |||
| $141M | $26M | 2.5x | - | 13.8x | - | |||
| $1M | ($111M) | 220.1x | - | (2.5x) | - | |||
| - | ($31M) | - | - | (7.1x) | - | |||
| $228M | $44M | 1.4x | 1.4x | 7.6x | 6.9x | |||
| $564K | ($40M) | 261.2x | 17.1x | (3.7x) | (3.4x) | |||
This data is available for Pro users. Sign up to see all City Therapeutics competitors and their valuation data. Start Free Trial | ||||||||
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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