Constellation Pharmaceuticals Acquisition, Valuation, Funding & Investors

Constellation Pharmaceuticals was acquired by MorphoSys for $1.7B in June 2021.

Constellation Pharmaceuticals acquisition price

$1.7B

Acquired by MorphoSys · Jun 2021

Cumulative funding Constellation Pharmaceuticals raised

$209M

across 4 funding rounds

Key investors in Constellation Pharmaceuticals

  • Venrock
  • Third Rock Ventures
  • The Column Group
  • Topspin Partners
  • Solon Mack Capital
  • OrbiMed
  • Fidelity
  • Hillhouse Investment

Constellation Pharmaceuticals Overview

About Constellation Pharmaceuticals

Constellation Pharmaceuticals is a biotechnology business developing small-molecule therapies based on cancer epigenetics. Its programs include pelabresib and tulmimetostat, which address hematologic and other cancers. The company was founded in 2008 in Cambridge, Massachusetts, and MorphoSys acquired it in July 2021. The company’s research focused on how regulation of gene expression can be targeted to treat cancer. It announced a $100 million financing in April 2018 with participation from a broad group of healthcare investors, including Sirona Capital. The financing supported development of its pipeline as an independent biotechnology company before its later acquisition. MorphoSys completed the transaction in July 2021, bringing the acquired development programs into its business and ending Constellation’s position as an independent company; the transaction did not take place in 2022.


Founded

2008

HQ

United StatesUnited States

Status

Acquired

Customer focus

B2B

Revenue model

Licensing

Valuation

$1.7B (acquired Jun 2021)

Constellation Pharmaceuticals Acquisition

Constellation Pharmaceuticals was acquired by MorphoSys for $1.7B on 2 June 2021.

Before the acquisition Constellation Pharmaceuticals had raised $209M across 4 funding rounds.

Constellation Pharmaceuticals acquisition details
AcquirerDateTypePrice
  • MorphoSys
2 Jun 2021Strategic M&A$1.7B

Constellation Pharmaceuticals Funding History

Constellation Pharmaceuticals has raised a total of $209M across 4 funding rounds.

Constellation Pharmaceuticals' first fundraising round was a $5M Series D in August 2014. The most recent completed round was a $100M Series F in April 2018.

Constellation Pharmaceuticals funding rounds

Constellation Pharmaceuticals funding rounds
DateStageInvestorsRaisedDeal Summary
Apr 2018Series FSirona Capital; The Column Group; Fidelity; Casdin Capital; Topspin Partners; Third Rock Ventures; SR One; Solon Mack Capital; Hillhouse Investment; Venrock; OrbiMed; Venrock Healthcare Capital Partners; Cormorant Asset Management; NS Investment; Deerfield$100MConstellation Pharmaceuticals, a Cambridge, MA-based clinical-stage biopharmaceutical company founded in 2008, specializes in developing tumor-targeted and immuno-oncology therapies based on cancer epigenetics research. The company focuses on small-molecule therapies that modulate gene expression in cancer cells and the tumor microenvironment, with lead candidates CPI-1205 (in trials for metastatic castration-resistant prostate cancer and solid tumors) and CPI-0610 (for myelofibrosis). On April 9, 2018, Constellation closed a $100 million Series F financing round with participation from new investors including Cormorant Asset Management, Deerfield Management, Fidelity Management and Research Company, Hillhouse Capital, NS Investment, OrbiMed, Sirona Capital, and Venrock Healthcare Partners, alongside existing backers such as The Column Group, Third Rock Ventures, Casdin Capital, SR One, University of California Investment Office, and Topspin Partners. The proceeds were intended to advance clinical development of CPI-1205 and CPI-0610, progress CPI-0209, and support preclinical pipeline expansion. This brought total equity funding to $229 million, excluding a prior $95 million strategic payment from Genentech in 2012, which ended without acquisition in 2015. The IPO funds were earmarked for ongoing trials like ProSTAR, ORIOn-E, and MANIFEST. Constellation's pipeline targets epigenetics to enhance immunotherapy outcomes in hard-to-treat cancers, positioning it amid a wave of large biotech financings in 2018. Post-round, the company went public in July 2018, trading as CNST on Nasdaq.
Jul 2017Series EThe Column Group; Topspin Partners; Third Rock Ventures; University of California Investment Office; Venrock$49MConstellation Pharmaceuticals is a Cambridge, MA-based biopharmaceutical company focused on epigenetics, developing small-molecule inhibitors targeting epigenetic regulators for cancer treatment, including BET inhibitors like CPI-0610 for myelofibrosis and EZH2 inhibitors like CPI-1205 for prostate cancer and solid tumors. The company raised a $55 million mezzanine financing round in December 2015, co-led by Topspin Partners with participation from Third Rock Ventures, The Column Group, Venrock, and SR One, to advance its clinical-stage pipeline. A subsequent $100 million Series F round closed around April 2018, backed by new investors including Cormorant Asset Management, Deerfield Management, Fidelity Management and Research, Hillhouse Capital, NS Investment, OrbiMed, Sirona Capital, alongside continuing backers like The Column Group, Third Rock Ventures, Topspin Partners, University of California Investment Office, and Venrock, funding ProSTAR and ORIOn-E trials for CPI-1205, CPI-0610 development, and a second-generation EZH2 program. The company went public in July 2018 with a $60 million IPO at $405.6 million valuation and was later acquired by MorphoSys in a $1.7 billion deal in 2021.
Dec 2015Series EThe Column Group; Topspin Partners; Third Rock Ventures; Solon Mack Capital; Venrock$55MConstellation Pharmaceuticals, a Cambridge, Mass.-based oncology biotech focused on epigenetics and chromatin biology for cancer drugs, raised $55 million in mezzanine financing on December 10, 2015, from investors including Solon Mack Capital, The Column Group, Third Rock Ventures, Topspin Partners, and Venrock. This followed a $5 million Series D extension in October 2014 from existing investors Third Rock, The Column Group, Venrock, and SROne to fund Phase I trials for CPI-0610 and CPI-1205 in lymphoma. The company had cumulatively raised about $154.5 million across five prior investment rounds. In January 2012, Constellation entered a strategic collaboration with Genentech, receiving $95 million upfront and in funding, with Genentech holding an option to acquire the company or specific programs like BET and EZH2, which it declined in August 2015, freeing Constellation to pursue an IPO. The financing supported ongoing clinical development amid a locked period with Genentech that had previously restricted public market access. Constellation also secured a $15 million senior secured loan from Oxford Finance and Silicon Valley Bank in October 2014 for operations and trials. The company advanced programs like pelabresib (CPI-0610) and CPI-0209, later attracting interest from big pharmas. Genentech's decision not to acquire positioned Constellation independently, leading to later events like an attempted IPO in 2018 and eventual $1.7 billion acquisition by MorphoSys in 2021.
Aug 2014Series D-$5MConstellation Pharmaceuticals, a biopharmaceutical company focused on epigenetics drug discovery, raised $22 million in a Series B round around June 2014, led by SR One with participation from Third Rock Ventures, The Column Group, Venrock, and Altitude Life Science Ventures. The funds advanced its pipeline toward clinical development and expanded its epigenetics product engine targeting chromatin regulation and disease. This brought total capital raised since founding in 2008 to $54 million. In August 2014, it raised an additional $5 million from existing investors to support Phase 1 trials of CPI-0610 in multiple myeloma, acute leukemias, and myelodysplastic syndrome, following lymphoma studies started in 2013.

Who has invested in Constellation Pharmaceuticals?

16 investors have backed Constellation Pharmaceuticals across its funding rounds, including Venrock, Third Rock Ventures, The Column Group, Topspin Partners, Solon Mack Capital and OrbiMed.


Constellation Pharmaceuticals Investors

Investors in Constellation Pharmaceuticals by funding rounds participated
InvestorHQRoundsRoleFirst check
The Column GroupUnited StatesSan Francisco, CA3ParticipantDec 2015
Topspin PartnersUnited StatesNew York City, NY3ParticipantDec 2015
Third Rock VenturesUnited StatesBoston, MA3ParticipantDec 2015
VenrockUnited StatesSan Francisco, CA3ParticipantDec 2015
Solon Mack CapitalUnited StatesGreenwich, CT2ParticipantDec 2015
Sirona CapitalCayman IslandsGeorge Town1ParticipantApr 2018
FidelityUnited StatesBoston, MA1ParticipantApr 2018
Casdin CapitalUnited StatesNew York City, NY1ParticipantApr 2018
SR OneUnited StatesUnited States1ParticipantApr 2018
Hillhouse InvestmentSingaporeSingapore1ParticipantApr 2018
University of California Investment OfficeUnited StatesSan Francisco, CA1ParticipantJul 2017
OrbiMedUnited StatesNew York City, NY1ParticipantApr 2018
Venrock Healthcare Capital PartnersUnited StatesSan Francisco, CA1ParticipantApr 2018

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Constellation Pharmaceuticals Competitors

Constellation Pharmaceuticals competitors include listed companies like Bora Pharmaceuticals, Alembic Pharmaceuticals, Yifan Pharmaceutical and Taysha GTx, and private ones like Rakuten Medical and Tessera Therapeutics.

Public and private companies comparable to Constellation Pharmaceuticals
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Bora PharmaceuticalsTaiwanTaiwanPublicly listed$597M$215M$1.7B3.2x
Alembic PharmaceuticalsIndiaIndiaPublicly listed$752M$115M$1.7B2.2x
Rakuten MedicalUnited StatesSan Diego, CAPrivate--$1.7B-
Tessera TherapeuticsUnited StatesUnited StatesPrivate--$1.7B-
Yifan PharmaceuticalChinaChinaPublicly listed$765M$121M$1.7B2.5x
Taysha GTxUnited StatesUnited StatesPublicly listed$10M($117M)$1.7B309.5x

Constellation Pharmaceuticals Public Comps

Constellation Pharmaceuticals is no longer listed, but its public comps include Bora Pharmaceuticals, Alembic Pharmaceuticals, Yifan Pharmaceutical, Taysha GTx, Intellia Therapeutics, Tyra Biosciences, PYC Therapeutics, Kailera Therapeutics, Jubilant Pharmova and Immunocore Holdings.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Bora Pharmaceuticals$597M$215M3.7x3.2x10.2x13.0x
Alembic Pharmaceuticals$752M$115M2.4x2.2x15.8x14.3x
Yifan Pharmaceutical$765M$121M2.5x2.5x15.6x13.7x
Taysha GTx$10M($117M)131.4x309.5x(11.0x)(7.5x)
Intellia Therapeutics$68M($432M)20.0x24.5x(3.1x)(3.2x)
Tyra Biosciences-($132M)--(10.1x)(7.4x)
PYC Therapeutics$14M($40M)95.7x122.6x(33.7x)(24.7x)
Kailera Therapeutics-($160M)--(4.8x)-

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Common questions about Constellation Pharmaceuticals

When was Constellation Pharmaceuticals founded?Constellation Pharmaceuticals was founded in 2008.
Where is Constellation Pharmaceuticals headquartered?Constellation Pharmaceuticals is headquartered in United States.
Is Constellation Pharmaceuticals publicly listed?No, Constellation Pharmaceuticals was acquired by MorphoSys in June 2021.
Who acquired Constellation Pharmaceuticals?Constellation Pharmaceuticals was acquired by MorphoSys in June 2021.
How much was Constellation Pharmaceuticals acquired for?Constellation Pharmaceuticals was acquired for $1.7B in June 2021.
How much funding has Constellation Pharmaceuticals raised?Constellation Pharmaceuticals has raised $209M across 4 funding rounds.
What was Constellation Pharmaceuticals' last funding round?Constellation Pharmaceuticals' last funding round was a $100M Series F in April 2018.
Who are Constellation Pharmaceuticals' investors?Constellation Pharmaceuticals' investors include The Column Group, Topspin Partners, Third Rock Ventures, Venrock, Solon Mack Capital, Sirona Capital, Fidelity, Casdin Capital, SR One, Hillhouse Investment and 6 others.
Which companies are comparable to Constellation Pharmaceuticals?Companies comparable to Constellation Pharmaceuticals include Bora Pharmaceuticals, Alembic Pharmaceuticals, Rakuten Medical, Tessera Therapeutics, Yifan Pharmaceutical and Taysha GTx.

See companies similar to Constellation Pharmaceuticals

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