Day One Biopharmaceutical Acquisition, Valuation & Financials

Day One Biopharmaceutical was acquired by Servier for $2.5B in March 2026, a 10.3x multiple on $243M of revenue.

Day One Biopharmaceutical acquisition price

$2.5B

Acquired by Servier · Mar 2026

Day One Biopharmaceutical revenue at acquisition

$243M

Last twelve months · Mar 2026

Day One Biopharmaceutical revenue multiple at acquisition

10.3x

EV/Revenue · Mar 2026

Cumulative funding Day One Biopharmaceutical raised

$190M

across 2 funding rounds

Day One Biopharmaceutical Overview

About Day One Biopharmaceutical

Day One Biopharmaceuticals Inc is a clinical-stage biopharmaceutical company. It is dedicated towards developing and commercializing targeted therapies for patients of all ages with genetically defined cancers. Initially, it focuses on clinical development efforts on pediatric patients living with cancer, a vulnerable population that has been underserved in the recent revolution in targeted therapeutics and immuno-oncology. The product candidate, DAY301 is an antibody drug conjugate (ADC) that has shown antitumor activity in preclinical models.


Founded

2018

HQ

United StatesUnited States

Status

Acquired

Customer focus

B2B

Revenue model

Licensing

Revenue

$243M (Mar 2026)

Valuation

$2.5B (acquired Mar 2026)

Day One Biopharmaceutical Acquisition

Day One Biopharmaceutical was acquired by Servier for $2.5B on 5 March 2026.

The acquisition price implies a 10.3x revenue multiple on $243M of revenue.

Before the acquisition Day One Biopharmaceutical had raised $190M across 2 funding rounds.

Day One Biopharmaceutical acquisition details
AcquirerDateTypePriceEV/Revenue
  • Servier
5 Mar 2026Strategic M&A$2.5B10.3x

Day One Biopharmaceutical as a Public Company

Day One Biopharmaceutical traded as NAS: DAWN before it was taken private. Its acquisition was announced in March 2026. March 2026 is its last month on record as a listed company, with a market cap of $2.2B and an enterprise value of $1.8B.

Last-twelve-month revenue was $172M, and the shares traded at 10.3x EV/Revenue.

Over the 4 years before that, its market cap grew from $615M in March 2022 to $2.2B.

Day One Biopharmaceutical market cap while listed

Day One Biopharmaceutical EV/Revenue (LTM) while listed

Day One Biopharmaceutical financials and trading multiples by year while listed
As ofMarket capRevenue (LTM)EBITDA (LTM)EBITDA marginEV/RevenueEV/EBITDA
Mar 2026$2.2B$172M--10.3x-
Mar 2025$804M$139M($198M)-143%2.0x(1.4x)
Mar 2024$1.4B$3M($216M)-6455%322.0x(5.0x)
Mar 2023$984M$100K($164M)-147549%5794.2x(3.9x)
Mar 2022$615M-($83M)--(4.0x)

Market cap, enterprise value and last-twelve-month figures are month-end values, up to the last month Day One Biopharmaceutical traded.

Day One Biopharmaceutical Funding History

Day One Biopharmaceutical has raised a total of $190M across 2 funding rounds.

Day One Biopharmaceutical's first fundraising round was a $60M Series A in May 2020. The most recent completed round was a $130M Series B in February 2021.

Day One Biopharmaceutical funding rounds

Day One Biopharmaceutical funding rounds
DateStageInvestorsRaisedDeal Summary
Feb 2021Series BRA Capital Management (lead); Boxer Capital; Putnam Premier IT; Canaan Partners; Janus Henderson; Biotechnology Value Fund; T. Rowe Price; Atlas Venture; Viking Global Investors; Access Biotechnology; Perceptive Advisors$130M-
May 2020Series ACanaan Partners; Atlas Venture; Access Biotechnology$60MDay One Biopharmaceuticals emerged from stealth in 2020 with a $60 million Series A funding round led by Canaan Partners, Access Biotechnology, and Atlas Venture. The company was founded to develop targeted cancer treatments for children, with a particular focus on genetically defined malignancies. Its lead program, DAY101 (later renamed tovorafenib/Ojemda), is a RAF inhibitor previously licensed from Takeda that targets both BRAF-mutated and BRAF wild-type fusion-driven cancers. The drug had been tested in more than 250 patients at the time of the Series A announcement, with clinical data expected to be disclosed in 2021 and 2022. The $60 million Series A proceeds were earmarked for advancing DAY101 through development and for identifying additional oncology assets. Day One operated with a lean, specialized team of experienced drug developers, including veterans from Array BioPharma and Genentech, enabling the company to efficiently navigate the complex rare disease therapy landscape. The company's precision medicine platform focused on identifying novel therapeutic targets for serious illnesses driven by genetic mutations, positioning it as a player in the high-growth oncology and rare disease sectors.

Who has invested in Day One Biopharmaceutical?

11 investors have backed Day One Biopharmaceutical across its funding rounds, including Canaan Partners, Atlas Venture, Access Biotechnology, RA Capital Management, T. Rowe Price and Perceptive Advisors.

Lead investors include RA Capital Management.


Day One Biopharmaceutical Investors

Investors in Day One Biopharmaceutical by funding rounds participated
InvestorHQRoundsRoleFirst check
Canaan PartnersUnited StatesUnited States2ParticipantMay 2020
Atlas VentureUnited StatesUnited States2ParticipantMay 2020
Access BiotechnologyUnited StatesNew York City, NY2ParticipantMay 2020
Boxer CapitalUnited StatesOrlando, FL1ParticipantFeb 2021
Putnam Premier ITUnited StatesUnited States1ParticipantFeb 2021
Janus HendersonUnited StatesLondon1ParticipantFeb 2021
Biotechnology Value FundUnited StatesSan Francisco, CA1ParticipantFeb 2021
T. Rowe PriceUnited StatesBaltimore, MD1ParticipantFeb 2021
RA Capital ManagementUnited StatesBoston, MA1LeadFeb 2021

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Acquisitions by Day One Biopharmaceutical

Day One Biopharmaceutical has acquired 1 company to date.

Last acquisition by Day One Biopharmaceutical was on November 13th 2025. Day One Biopharmaceutical acquired Mersana Therapeutics for $285M.


Latest Acquisitions by Day One Biopharmaceutical

Mersana Therapeutics
Description
-
HQ CountryUnited States
HQ City
-
Deal Date13 Nov 2025
Valuation$285M
EV/Revenue
EV/EBITDA

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Day One Biopharmaceutical Competitors

Day One Biopharmaceutical competitors include listed companies like Structure Therapeutics, Supernus Pharmaceuticals, Joincare Pharmaceutical and Peptron, and private ones like Cambrian Biopharma and Sail Biomedicines.

Public and private companies comparable to Day One Biopharmaceutical
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Structure TherapeuticsUnited StatesUnited StatesPublicly listed-($175M)$2.5B38.9x
Supernus PharmaceuticalsUnited StatesUnited StatesPublicly listed$719M$29M$2.5B2.6x
Joincare PharmaceuticalChinaChinaPublicly listed$2.3B$567M$2.5B1.2x
PeptronSouth KoreaSouth KoreaPublicly listed$4M($11M)$2.5B-
Cambrian BiopharmaUnited StatesNew York City, NYPrivate--$2.5B-
Sail BiomedicinesUnited StatesBoston, MAPrivate--$2.6B-

Day One Biopharmaceutical Public Comps

Day One Biopharmaceutical is no longer listed, but its public comps include Structure Therapeutics, Supernus Pharmaceuticals, Joincare Pharmaceutical, Peptron, Harmony Biosciences, ACROBiosystems, Viridian Therapeutics, Jamjoom Pharma, Granules India and Mineralys Therapeutics.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Structure Therapeutics-($175M)-38.9x(6.6x)(3.0x)
Supernus Pharmaceuticals$719M$29M3.0x2.6x73.9x13.8x
Joincare Pharmaceutical$2.3B$567M1.1x1.2x4.6x7.0x
Peptron$4M($11M)602.3x-(230.5x)-
Harmony Biosciences$868M$233M2.3x2.0x8.5x6.7x
ACROBiosystems$125M$28M18.7x15.6x82.4x59.1x
Viridian Therapeutics$71M($365M)26.0x51.6x(5.1x)(4.5x)
Jamjoom Pharma$400M$143M6.1x5.8x17.1x16.7x

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Common questions about Day One Biopharmaceutical

When was Day One Biopharmaceutical founded?Day One Biopharmaceutical was founded in 2018.
Where is Day One Biopharmaceutical headquartered?Day One Biopharmaceutical is headquartered in United States.
Is Day One Biopharmaceutical publicly listed?No, Day One Biopharmaceutical was acquired by Servier in March 2026.
Who acquired Day One Biopharmaceutical?Day One Biopharmaceutical was acquired by Servier in March 2026.
How much was Day One Biopharmaceutical acquired for?Day One Biopharmaceutical was acquired for $2.5B in March 2026, a 10.3x revenue multiple.
How much funding has Day One Biopharmaceutical raised?Day One Biopharmaceutical has raised $190M across 2 funding rounds.
What was Day One Biopharmaceutical's last funding round?Day One Biopharmaceutical's last funding round was a $130M Series B in February 2021, led by RA Capital Management.
Who are Day One Biopharmaceutical's investors?Day One Biopharmaceutical's investors include Canaan Partners, Atlas Venture, Access Biotechnology, Boxer Capital, Putnam Premier IT, Janus Henderson, Biotechnology Value Fund, T. Rowe Price, RA Capital Management, Viking Global Investors and 1 other.
Which companies are comparable to Day One Biopharmaceutical?Companies comparable to Day One Biopharmaceutical include Structure Therapeutics, Supernus Pharmaceuticals, Joincare Pharmaceutical, Peptron, Cambrian Biopharma and Sail Biomedicines.
What was Day One Biopharmaceutical's market cap before the acquisition?Day One Biopharmaceutical had a market cap of $2.2B in March 2026, its last month on record as a listed company, trading at 10.3x EV/Revenue.
What was Day One Biopharmaceutical's revenue as a public company?Day One Biopharmaceutical's last reported twelve-month revenue was $172M (March 2026).
How many companies has Day One Biopharmaceutical acquired?Day One Biopharmaceutical has acquired 1 company, including Mersana Therapeutics.
What was the largest acquisition by Day One Biopharmaceutical?The $285M acquisition of Mersana Therapeutics in November 2025 is the largest acquisition Day One Biopharmaceutical has made to date.

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