Day One Biopharmaceuticals Acquisition, Valuation & Financials

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

Day One Biopharmaceuticals acquisition price

$2.5B

Acquired by Servier · Mar 2026

Day One Biopharmaceuticals revenue at acquisition

$243M

Last twelve months · Mar 2026

Day One Biopharmaceuticals revenue multiple at acquisition

10.3x

EV/Revenue · Mar 2026

Cumulative funding Day One Biopharmaceuticals raised

$190M

across 2 funding rounds

Day One Biopharmaceuticals Overview

About Day One Biopharmaceuticals

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 Biopharmaceuticals Acquisition

Day One Biopharmaceuticals 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 Biopharmaceuticals had raised $190M across 2 funding rounds.

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

Sources: prnewswire.com, prnewswire.com, prnewswire.com, prnewswire.com, prnewswire.com

Day One Biopharmaceuticals as a Public Company

Day One Biopharmaceuticals 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 Biopharmaceuticals market cap while listed

Day One Biopharmaceuticals EV/Revenue (LTM) while listed

Day One Biopharmaceuticals 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 Biopharmaceuticals traded.

Day One Biopharmaceuticals Funding History

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

Day One Biopharmaceuticals' 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 Biopharmaceuticals funding rounds

Day One Biopharmaceuticals funding rounds
DateStageInvestorsRaisedDeal Summary
Feb 2021Series BRA Capital Management (lead); Boxer Capital; Canaan Partners; Janus Henderson; Biotechnology Value Fund; T. Rowe Price; Atlas Venture; Viking Global Investors; Franklin Templeton; Access Biotechnology; Perceptive Advisors$130MDay One Biopharmaceuticals announced a $130 million Series B financing in February 2021, led by RA Capital Management. Existing investors Access Biotechnology, Atlas Venture and Canaan Partners participated, and the round also drew crossover and public-market investors. The company had emerged from stealth in May 2020 with a $60 million Series A from Access Biotechnology, Atlas Venture and Canaan, and said it had raised more than $190 million in total. The proceeds were directed to drug development and preparation for the commercial launch of its lead program, DAY101, a treatment for pediatric low-grade glioma. Day One is a biopharmaceutical company that develops targeted therapies for children and adults with cancer. It is headquartered in the San Francisco Bay Area and later went public on Nasdaq under the ticker DAWN.
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 Biopharmaceuticals?

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

Lead investors include RA Capital Management.


Day One Biopharmaceuticals Investors

Investors in Day One Biopharmaceuticals by funding rounds participated
InvestorHQRoundsRoleFirst check
Canaan PartnersUnited StatesStamford, CT2ParticipantMay 2020
Atlas VentureUnited StatesCambridge, MA2ParticipantMay 2020
Access BiotechnologyUnited StatesNew York City, NY2ParticipantMay 2020
Boxer CapitalUnited StatesOrlando, FL1ParticipantFeb 2021
Janus HendersonUnited StatesLondon1ParticipantFeb 2021
Biotechnology Value FundUnited StatesSan Francisco, CA1ParticipantFeb 2021
T. Rowe PriceUnited StatesBaltimore, MD1ParticipantFeb 2021
RA Capital ManagementUnited StatesBoston, MA1LeadFeb 2021
Viking Global InvestorsUnited StatesStamford, CT1ParticipantFeb 2021

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Acquisitions by Day One Biopharmaceuticals

Day One Biopharmaceuticals has acquired 1 company to date.

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


Latest Acquisitions by Day One Biopharmaceuticals

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

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Day One Biopharmaceuticals Competitors

Day One Biopharmaceuticals competitors include listed companies like China Resources Double-Crane, MBX Biosciences, Jafron Biomedical and HUTCHMED (China), and private ones like Cambrian Biopharma and Sail Biomedicines.

Public and private companies comparable to Day One Biopharmaceuticals
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
China Resources Double-CraneChinaChinaPublicly listed$1.7B$406M$2.5B1.6x
MBX BiosciencesUnited StatesUnited StatesPublicly listed-($98M)$2.5B-
Cambrian BiopharmaUnited StatesNew York City, NYPrivate--$2.5B-
Jafron BiomedicalChinaChinaPublicly listed$302M$123M$2.5B7.1x
HUTCHMED (China)ChinaChinaPublicly listed$549M$465M$2.6B2.1x
Sail BiomedicinesUnited StatesBoston, MAPrivate--$2.6B-

Day One Biopharmaceuticals Public Comps

Day One Biopharmaceuticals is no longer listed, but its public comps include China Resources Double-Crane, MBX Biosciences, Jafron Biomedical, HUTCHMED (China), Palvella Therapeutics, Pharvaris, Buchang Pharma, Regencell Bioscience, Arcus Biosciences and Celldex Therapeutics.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
China Resources Double-Crane$1.7B$406M1.6x1.6x6.4x6.6x
MBX Biosciences-($98M)--(21.0x)(13.5x)
Jafron Biomedical$302M$123M7.4x7.1x18.1x15.3x
HUTCHMED (China)$549M$465M2.3x2.1x2.8x61.7x
Palvella Therapeutics-($38M)--(60.7x)(29.7x)
Pharvaris-($202M)--(10.2x)(9.7x)
Buchang Pharma$1.8B$174M1.5x-15.1x-
Regencell Bioscience-($11M)--(230.1x)-

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Common questions about Day One Biopharmaceuticals

When was Day One Biopharmaceuticals founded?Day One Biopharmaceuticals was founded in 2018.
Where is Day One Biopharmaceuticals headquartered?Day One Biopharmaceuticals is headquartered in United States.
Is Day One Biopharmaceuticals publicly listed?No, Day One Biopharmaceuticals was acquired by Servier in March 2026.
Who acquired Day One Biopharmaceuticals?Day One Biopharmaceuticals was acquired by Servier in March 2026.
How much was Day One Biopharmaceuticals acquired for?Day One Biopharmaceuticals was acquired for $2.5B in March 2026, a 10.3x revenue multiple.
How much funding has Day One Biopharmaceuticals raised?Day One Biopharmaceuticals has raised $190M across 2 funding rounds.
What was Day One Biopharmaceuticals' last funding round?Day One Biopharmaceuticals' last funding round was a $130M Series B in February 2021, led by RA Capital Management.
Who are Day One Biopharmaceuticals' investors?Day One Biopharmaceuticals' investors include Canaan Partners, Atlas Venture, Access Biotechnology, Boxer Capital, Janus Henderson, Biotechnology Value Fund, T. Rowe Price, RA Capital Management, Viking Global Investors, Franklin Templeton and 1 other.
Which companies are comparable to Day One Biopharmaceuticals?Companies comparable to Day One Biopharmaceuticals include China Resources Double-Crane, MBX Biosciences, Cambrian Biopharma, Jafron Biomedical, HUTCHMED (China) and Sail Biomedicines.
What was Day One Biopharmaceuticals' market cap before the acquisition?Day One Biopharmaceuticals 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 Biopharmaceuticals' revenue as a public company?Day One Biopharmaceuticals' last reported twelve-month revenue was $172M (March 2026).
How many companies has Day One Biopharmaceuticals acquired?Day One Biopharmaceuticals has acquired 1 company, including Mersana Therapeutics.
What was the largest acquisition by Day One Biopharmaceuticals?The $285M acquisition of Mersana Therapeutics in November 2025 is the largest acquisition Day One Biopharmaceuticals has made to date.

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