Evozyne Funding, Investors & Competitors

Evozyne has raised $144M across 3 funding rounds, most recently a $81M Series B in September 2023.

Last Evozyne funding round

$81M

Series B · Sep 2023

Cumulative funding Evozyne raised

$144M

across 3 funding rounds

Key investors in Evozyne

Evozyne Overview

About Evozyne

Evozyne is a Chicago-headquartered generative AI biotech firm designing novel proteins for therapeutics. Its platform uses machine learning to engineer enzymes and biologics with enhanced stability and specificity for oncology and metabolic diseases. Founded in 2020, Evozyne collaborates with Eli Lilly on preclinical candidates and raised $17 million in seed funding. The Evo platform screens billions of variants in silico, accelerating discovery timelines.


Founded

2020

HQ

United StatesChicago, IL

Status

Privately held

Customer focus

B2B

Revenue model

Licensing

Evozyne Funding History

Evozyne has raised a total of $144M across 3 funding rounds.

Evozyne's first fundraising round was a $9M Series A in April 2020. The most recent completed round was a $81M Series B in September 2023.

Evozyne funding rounds

Evozyne funding rounds
DateStageInvestorsRaisedDeal Summary
Sep 2023Series BFidelity (lead); OrbiMed (lead); NVentures; Paragon Biosciences; Valor Equity Partners$81MEvozyne is a Chicago-based biotech company founded in 2020 that develops a generative AI-powered drug discovery platform to create novel, high-performance proteins for therapeutic discovery, drug development, gene therapy engineering, immune response modulation, and carbon capture applications. The company has collaborations with NVIDIA and Takeda, leveraging NVIDIA's pre-trained AI models to generate synthetic proteins, as demonstrated at the 2023 J.P. Morgan Healthcare Conference. Evozyne announced the closing of an $81 million Series B funding round on September 27, 2023, led by Fidelity Management & Research Company and OrbiMed, with participation from NVentures (NVIDIA's venture arm), and existing investors Paragon Biosciences and Valor Equity Partners. This round brings Evozyne's total funding to over $162 million across five rounds. The proceeds will fund advancement of its AI platform, product development, potential IND-enabling studies, and building a portfolio of gene editors, CRISPR-Cas nucleases, and IgG proteases to address untreatable diseases and sustainability challenges.
Apr 2021Undisclosed stage-$54MEvozyne is a Chicago-based biotech company founded in 2020 that develops generative AI-powered platforms for drug discovery, focusing on designing novel, high-performance proteins for therapeutics and sustainability applications such as gene therapy engineering, CRISPR-Cas nucleases, IgG proteases, gene editors, and enzymes modulating immune response. The company has collaborations including with NVIDIA for AI model training to generate synthetic proteins and with Takeda for gene therapy since April 2022. Evozyne's funding trajectory includes early Series A rounds in 2020 (Series A on 4/27/2020 and Series A - II on 5/6/2020), the Series A - III on 4/21/2021, and later a Series B on 9/28/2023 for $81M led by Fidelity Management & Research Company and OrbiMed, with participation from NVentures (NVIDIA's VC arm), Paragon Biosciences, and Valor Equity Partners. Investors in early rounds include Paragon Biosciences. Post-2021, Evozyne advanced its platform, presenting NVIDIA-collaborative AI models at the 2023 J.P. Morgan Healthcare Conference to accelerate protein design and reduce development timelines for new therapeutics. The Series B funds support product development, potential IND-enabling studies, and expansion in drug development and carbon capture. Competitive context includes similar AI-biotech funding like Genesis Therapeutics' $200M Series B in 2023.
Apr 2020Series A-$9MEvozyne raised an undisclosed amount in a Series A funding round on April 27, 2020. The company, founded in 2020, develops a generative AI-powered platform for protein design in drug discovery and therapeutic development.

Who has invested in Evozyne?

5 investors have backed Evozyne across its funding rounds, including OrbiMed, Fidelity, Valor Equity Partners, NVentures and Paragon Biosciences.

Lead investors include Fidelity and OrbiMed.


Evozyne Investors

Investors in Evozyne by funding rounds participated
InvestorHQRoundsRoleFirst check
FidelityUnited StatesBoston, MA1LeadSep 2023
NVenturesUnited StatesSan Jose, CA1ParticipantSep 2023
Paragon BiosciencesUnited StatesChicago, IL1ParticipantSep 2023

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Evozyne Competitors

Evozyne competitors include listed companies like Eli Lilly and Johnson & Johnson, and private ones like Genesys, Glean, Legora and Factory.

Public and private companies comparable to Evozyne
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
GenesysUnited StatesSan Francisco, CAPrivate$2.1B$900M$15B7.1x
GleanUnited StatesSan Francisco, CAPrivate$100M-$7.2B72.0x
LegoraSwedenStockholmPrivate$100M-$5.6B56.0x
FactoryUnited StatesSan Francisco, CAPrivate--$5B-
Eli LillyUnited StatesUnited StatesPublicly listed$65B$28B$1.0T13.1x
Johnson & JohnsonUnited StatesUnited StatesPublicly listed$94B$40B$651B6.8x

Evozyne Public Comps

Evozyne is still privately-owned, but its public comps include Eli Lilly, Johnson & Johnson, AbbVie, Palantir, Merck, Roche, Novartis, AstraZeneca, CrowdStrike and SAP.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Eli Lilly$65B$28B16.5x13.1x38.7x27.0x
Johnson & Johnson$94B$40B7.2x6.8x17.0x18.3x
AbbVie$61B$17B8.7x8.1x30.6x17.6x
Palantir$4.5B$1.5B92.6x58.1x285.0x97.4x
Merck$65B$28B6.3x6.2x14.7x21.0x
Roche$77B$26B5.0x4.9x14.6x12.4x
Novartis$57B$22B5.5x5.5x14.2x13.3x
AstraZeneca$59B$19B4.8x4.5x14.6x12.7x

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Common questions about Evozyne

When was Evozyne founded?Evozyne was founded in 2020.
Where is Evozyne headquartered?Evozyne is headquartered in Chicago, IL, United States.
Is Evozyne publicly listed?No, Evozyne is a private, VC-backed company.
How much funding has Evozyne raised?Evozyne has raised $144M across 3 funding rounds.
What was Evozyne's last funding round?Evozyne's last funding round was a $81M Series B in September 2023, led by Fidelity and OrbiMed.
Who are Evozyne's investors?Evozyne's investors include Fidelity, NVentures, Paragon Biosciences, Valor Equity Partners and OrbiMed.
Which companies are comparable to Evozyne?Companies comparable to Evozyne include Genesys, Glean, Legora, Factory, Eli Lilly and Johnson & Johnson.

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