Forty Seven Acquisition, Valuation, Funding & Investors

Forty Seven was acquired by Gilead Sciences for $4.9B in March 2020.

Forty Seven acquisition price

$4.9B

Acquired by Gilead Sciences · Mar 2020

Forty Seven revenue at acquisition

$16M

Last twelve months · Mar 2020

Cumulative funding Forty Seven raised

$150M

across 2 funding rounds

Key investors in Forty Seven

  • Lightspeed Venture Partners
  • GV
  • Sutter Hill Ventures
  • Clarus Ventures
  • Wellington Management

Forty Seven Overview

About Forty Seven

Forty Seven is a clinical-stage biotechnology company developing magrolimab, a monoclonal antibody targeting the CD47 immune checkpoint to enable macrophage-mediated destruction of cancer cells. The therapy advances through Phase II trials for acute myeloid leukemia, myelodysplastic syndromes, and solid tumors including ovarian and colorectal cancers. Licensed from Stanford University, its pipeline includes combination regimens with azacitidine and rituximab. Headquartered in Menlo Park, California, the company progressed multiple programs since its 2014 inception before its acquisition by Gilead Sciences in 2020.


Founded

2015

HQ

United StatesSan Francisco, CA

Status

Acquired

Customer focus

B2B

Revenue model

Licensing

Revenue

$16M (Mar 2020)

Valuation

$4.9B (acquired Mar 2020)

Forty Seven Acquisition

Forty Seven was acquired by Gilead Sciences for $4.9B on 2 March 2020.

Before the acquisition Forty Seven had raised $150M across 2 funding rounds.

Forty Seven acquisition details
AcquirerDateTypePriceEV/Revenue
2 Mar 2020Strategic M&A$4.9B312.1x

Forty Seven Funding History

Forty Seven has raised a total of $150M across 2 funding rounds.

Forty Seven's first fundraising round was a $75M Series A in February 2016. The most recent completed round was a $75M Series B in October 2017.

Forty Seven funding rounds

Forty Seven funding rounds
DateStageInvestorsRaisedDeal Summary
Oct 2017Series BWellington Management (lead); Sutter Hill Ventures; GV; Lightspeed Venture Partners; Clarus Ventures$75M-
Feb 2016Series ALightspeed Venture Partners (lead); Sutter Hill Ventures (lead); GV; Clarus Ventures$75MForty Seven Inc. is a Menlo Park, California-based biotech company founded in 2015 by Stanford scientists, developing next-generation immuno-oncology treatments targeting the CD47 'don't eat me' signal with lead candidate 5F9 (magrolimab) in Phase 1/2 trials for cancers including non-Hodgkin lymphoma, colorectal, ovarian, and acute myeloid leukemia. The company raised $75 million in its Series A round in February 2016 from Lightspeed Venture Partners and Sutter Hill Ventures (leads), with participation from Clarus Ventures and GV (Google Ventures), licensing immuno-oncology programs from Stanford. A follow-on $75 million Series B round closed in 2017 led by Wellington Management with existing investors. The company went public in 2018 (Nasdaq: FTSV) raising ~$100M at ~$444M post-IPO valuation and was acquired by Gilead Sciences in March 2020 for $4.9 billion.

Who has invested in Forty Seven?

5 investors have backed Forty Seven across its funding rounds, including Lightspeed Venture Partners, GV, Sutter Hill Ventures, Clarus Ventures and Wellington Management.

Lead investors include Wellington Management, Lightspeed Venture Partners and Sutter Hill Ventures.


Forty Seven Investors

Investors in Forty Seven by funding rounds participated
InvestorHQRoundsRoleFirst check
Sutter Hill VenturesUnited StatesSan Francisco, CA2LeadFeb 2016
GVUnited StatesSan Francisco, CA2ParticipantFeb 2016
Lightspeed Venture PartnersUnited StatesSan Francisco, CA2LeadFeb 2016

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Forty Seven Competitors

Forty Seven competitors include listed companies like GSK India, Shanghai RAAS, Gland Pharma and Hanmi Pharm, and private ones like Biocon Biologics and Intas Pharmaceuticals.

Public and private companies comparable to Forty Seven
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
GSK IndiaIndiaIndiaPublicly listed$397M$148M$4.9B11.1x
Shanghai RAASChinaChinaPublicly listed$1.1B$315M$4.8B-
Gland PharmaIndiaIndiaPublicly listed$668M$179M$5B6.5x
Hanmi PharmSouth KoreaSouth KoreaPublicly listed$1.1B$234M$4.8B4.0x
Biocon BiologicsIndiaBangalorePrivate$1.1B-$4.5B4.2x
Intas PharmaceuticalsIndiaAhmedabadPrivate$2B-$4.3B2.1x

Forty Seven Public Comps

Forty Seven is no longer listed, but its public comps include GSK India, Shanghai RAAS, Gland Pharma, Salubris Pharmaceuticals, Hanmi Pharm, Parabilis Medicines, Beijing Tongrentang, 3SBio, ACADIA Pharmaceuticals and Wantai BioPharm.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
GSK India$397M$148M11.7x11.1x31.5x32.0x
Shanghai RAAS$1.1B$315M4.7x-16.2x-
Gland Pharma$668M$179M7.0x6.5x26.2x24.9x
Salubris Pharmaceuticals$649M$155M7.6x6.6x31.8x28.3x
Hanmi Pharm$1.1B$234M4.3x4.0x20.9x15.5x
Parabilis Medicines-($145M)--(27.4x)-
Beijing Tongrentang$2.6B$447M1.8x1.9x10.6x12.7x
3SBio$2.6B$1.6B1.2x1.8x1.9x3.9x

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Common questions about Forty Seven

When was Forty Seven founded?Forty Seven was founded in 2015.
Where is Forty Seven headquartered?Forty Seven is headquartered in San Francisco, CA, United States.
Is Forty Seven publicly listed?No, Forty Seven was acquired by Gilead Sciences in March 2020.
Who acquired Forty Seven?Forty Seven was acquired by Gilead Sciences in March 2020.
How much was Forty Seven acquired for?Forty Seven was acquired for $4.9B in March 2020.
How much funding has Forty Seven raised?Forty Seven has raised $150M across 2 funding rounds.
What was Forty Seven's last funding round?Forty Seven's last funding round was a $75M Series B in October 2017, led by Wellington Management.
Who are Forty Seven's investors?Forty Seven's investors include Sutter Hill Ventures, GV, Lightspeed Venture Partners, Clarus Ventures and Wellington Management.
Which companies are comparable to Forty Seven?Companies comparable to Forty Seven include GSK India, Shanghai RAAS, Gland Pharma, Hanmi Pharm, Biocon Biologics and Intas Pharmaceuticals.

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