FibroGen Revenue, Valuation, Funding & Investors

FibroGen is valued at $1.2B as of November 2014, a 11.3x multiple on its last reported $108M revenue.

Last FibroGen valuation

$1.2B

Undisclosed stage · Nov 2014

Last FibroGen funding round

$20M

Undisclosed stage · Nov 2014

FibroGen revenue

$108M

Undisclosed stage · Nov 2014

FibroGen Overview

About FibroGen

FibroGen is a biopharmaceutical company discovering therapies based on hypoxia-inducible factor and connective tissue growth factor biology for anemia, fibrosis, and cancer. Its flagship product roxadustat, a HIF-PH inhibitor, received approval in China in 2018 and Japan in 2019 for anemia in chronic kidney disease, with ongoing global trials. Headquartered in San Francisco, California, FibroGen partners with AstraZeneca and Astellas for commercialization in multiple regions.


Founded

1993

HQ

United StatesSan Francisco, CA

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Revenue

$108M (Nov 2014)

Valuation

$1.2B (Nov 2014)

FibroGen Valuation

FibroGen is currently valued at $1.2B, based on its undisclosed-stage round in November 2014.

FibroGen valuation by funding round

FibroGen valuation by funding round
DateStageValuationRevenue Multiple
Nov 2014Undisclosed stage$1.2B11.3x

FibroGen Revenue

FibroGen's latest recorded revenue is $108M, as of its undisclosed-stage round in November 2014. At a $1.2B valuation, that implies a 11.3x revenue multiple.

FibroGen revenue by funding round

FibroGen revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Nov 2014$108M$1.2B11.3xUndisclosed stage

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

FibroGen Funding History

FibroGen has raised a total of $20M across 1 funding round.

FibroGen funding rounds

FibroGen funding rounds
DateStageRaisedValuationDeal Summary
Nov 2014Undisclosed stage$20M$1.2BFibroGen is a biopharmaceutical company founded in 1993, focused on pioneering research in hypoxia-inducible factor (HIF) biology to develop novel therapeutics. The company received early seed funding of approximately $12 million from venture capital firms including Kleiner Perkins Caufield & Byers and Institutional Venture Partners, which supported its initial research efforts. On November 14, 2014, FibroGen went public with an IPO listing, achieving a market capitalization of approximately $1.22 billion, marking a transition to public ownership and broader investor participation. Ahead of the IPO around mid-November 2014, FibroGen reported $108 million in revenue and $30.5 million in net income for the first half of 2014, indicating strong financial performance during that period. This traction underscored the company's progress in its therapeutic development pipeline. No specific VC funding round details for late November 2014 are identified, with the IPO representing the key financial event at that time. Post-IPO, FibroGen continued operations in the biopharmaceutical sector, later facing challenges including a 1-for-25 reverse stock split in June 2025 and a sale of its China operations to AstraZeneca for approximately $185 million enterprise value in a later transaction to extend its cash runway. Institutional ownership reached 72.71% by 2025, with analysts issuing a 'Hold' rating and a price target of $37.08 as of August 2025.

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 Trial

FibroGen Competitors

FibroGen competitors include listed companies like Obsidian Therapeutics and Akums Drugs and Pharma, and private ones like BenevolentAI, Rakuten Medical, Umoja Biopharma and ArsenalBio.

Public and private companies comparable to FibroGen
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Obsidian TherapeuticsUnited StatesUnited StatesPublicly listed-($104M)$1.1B-
BenevolentAIUnited KingdomLondonPrivate$10M-$1B100.0x
Rakuten MedicalUnited StatesSan Diego, CAPrivate--$1.7B-
Umoja BiopharmaUnited StatesSeattle, WAPrivate--$800M-
ArsenalBioUnited StatesUnited StatesPrivate--$1.9B-
Akums Drugs and PharmaIndiaIndiaPublicly listed$443M$54M$1.2B2.2x

FibroGen Public Comps

FibroGen is still privately-owned, but its public comps include Akums Drugs and Pharma, Alto Neuroscience, Replimune Group, Chongqing Genrix, Uniphar, OPKO Health, Sawai Group Holdings, Liaoning Chengda Biotech, Harrow and TOWA Pharmaceutical.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Akums Drugs and Pharma$443M$54M2.4x2.2x19.9x16.6x
Alto Neuroscience-($67M)--(14.9x)(9.7x)
Replimune Group-($302M)-59.4x(3.7x)(3.9x)
Chongqing Genrix$34M($70M)32.6x33.1x(16.0x)-
Uniphar$3.5B$136M0.5x0.5x12.5x10.4x
OPKO Health$607M($56M)2.2x2.3x(23.3x)(11.2x)
Sawai Group Holdings$1.3B$205M1.4x1.4x8.9x7.5x
Liaoning Chengda Biotech$207M$47M2.3x2.3x10.2x10.2x

This data is available for Pro users. Sign up to see all FibroGen competitors and their valuation data.

Start Free Trial

Common questions about FibroGen

When was FibroGen founded?FibroGen was founded in 1993.
Where is FibroGen headquartered?FibroGen is headquartered in San Francisco, CA, United States.
Is FibroGen publicly listed?No, FibroGen is a private company.
What is FibroGen's valuation?FibroGen was last valued at $1.2B in its undisclosed-stage round in November 2014.
How much funding has FibroGen raised?FibroGen has raised $20M across 1 funding round.
What was FibroGen's last funding round?FibroGen's last funding round was a $20M undisclosed-stage round in November 2014.
What is FibroGen's revenue?FibroGen's latest recorded revenue is $108M (November 2014).
What is FibroGen's revenue multiple?FibroGen's latest valuation implies a 11.3x revenue multiple ($1.2B valuation on $108M of revenue).
Which companies are comparable to FibroGen?Companies comparable to FibroGen include Obsidian Therapeutics, BenevolentAI, Rakuten Medical, Umoja Biopharma, ArsenalBio and Akums Drugs and Pharma.

See companies similar to FibroGen

Start Your
Free Trial Today

Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.

Start Trial