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- Halda Therapeutics
Halda Therapeutics Acquisition, Valuation, Funding & Investors
Halda Therapeutics was acquired by Johnson & Johnson for $3B in November 2025.
Cumulative funding Halda Therapeutics raised
$208M
across 4 funding rounds
Key investors in Halda Therapeutics
Canaan Partners
Connecticut Innovations
Access Biotechnology
Elm Street Ventures
RA Capital Management
Boxer Capital
Vida Ventures
6 Dimensions Capital
About Halda Therapeutics
Halda Therapeutics is a clinical-stage biopharmaceutical company developing precision oncology therapies using its proprietary macrocyclic peptide platform. Founded in 2020 and based in London, United Kingdom, the firm targets undruggable protein-protein interactions in cancer pathways. Its lead candidate, HTX-101, entered Phase I trials in 2023 for solid tumors, backed by $30 million in Series A funding from investors including Oxford Science Enterprises.
Founded
2018
HQ
Website
Status
Acquired
Customer focus
B2C
Revenue model
Product sales
Valuation
$3B (acquired Nov 2025)
Sectors
Halda Therapeutics Acquisition
Halda Therapeutics was acquired by Johnson & Johnson for $3B on 17 November 2025.
Before the acquisition Halda Therapeutics had raised $208M across 4 funding rounds.
Halda Therapeutics, a New Haven-based clinical-stage biotechnology company founded in 2019 as a Yale spinout, develops oral targeted therapies using its proprietary Regulated Induced Proximity TArgeting Chimera (RIPTAC) platform, which employs a novel 'hold and kill' mechanism via bifunctional small molecules to induce precise cancer cell death by binding tumor-specific proteins and essential survival proteins. The lead candidate, HLD-0915, is a once-daily oral therapy in Phase 1/2 for metastatic castration-resistant prostate cancer, showing positive data and potential to overcome resistance mechanisms amid projections of 1.7 million global cases by 2030; the pipeline includes earlier-stage programs for breast, lung, and other solid tumors, with platform potential beyond oncology. Johnson & Johnson, a New Brunswick-based pharmaceutical giant with a leading oncology portfolio including nearly two decades in prostate cancer via drugs like Erleada, acquired Halda to bolster its innovative medicine pipeline with complementary novel mechanisms. Johnson & Johnson entered a definitive agreement on November 17, 2025, to acquire Halda Therapeutics OpCo Inc. for $3.05 billion in cash, completing the transaction on December 29, 2025, after antitrust clearance under the Hart-Scott-Rodino Act. The deal, accounted for as a business combination, integrates Halda's pipeline, platform, and team into J&J's R&D, commercial, and manufacturing capabilities to accelerate development and global delivery. J&J executives highlighted the strategic fit, with Jennifer Taubert noting its role as a mid- to long-term growth catalyst across cancers and diseases, and John C. Reed emphasizing advancement of the RIPTAC platform for new molecules. The acquisition incurs $0.20 total dilution to adjusted EPS, split equally between Q4 2025 and 2026 from financing, non-recurring Halda employee equity awards, and integration costs, with full 2026 guidance to be provided on January 21, 2026 earnings call. It expands J&J's solid tumor presence amid unmet needs in prostate cancer and positions the RIPTAC technology as transformative for precision therapies, enabling modular design for multiple indications while maintaining operational independence until close.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 17 Nov 2025 | Strategic M&A | $3B |
Halda Therapeutics Funding History
Halda Therapeutics has raised a total of $208M across 4 funding rounds.
Halda Therapeutics' first fundraising round was a $25M Series A in February 2019. The most recent completed round was a $126M Series B in August 2024.
Halda Therapeutics funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Aug 2024 | Series B | Elm Street Ventures; Vida Ventures; Boxer Capital; Taiho Ventures; Canaan Partners; Connecticut Innovations; Deep Track Capital; Frazier Life Sciences; RA Capital Management; Access Biotechnology | $126M | Halda Therapeutics is a New Haven, CT-based biotechnology company founded by Yale professor Craig Crews, developing RIPTAC (Regulated Induced Proximity Targeting Chimeras) therapeutics, a novel class of oral cancer drugs using a 'hold and kill' mechanism to selectively target and eliminate cancer cells by inducing proximity between two proteins, sparing healthy tissue and addressing drug resistance. The company emerged from stealth about 1.5 years prior with an initial $76M, bringing total funding to $202M after the $126M Series B extension announced August 12, 2024. The Series B extension included new investors Deep Track Capital, Frazier Life Sciences, RA Capital Management, Vida Ventures, Boxer Capital, and Taiho Ventures, alongside existing backers Canaan Partners, Access Biotechnology, Elm Street Ventures, and Connecticut Innovations. Proceeds will fund Phase 1 clinical trials for lead candidate HLD-0915 in metastatic castration-resistant prostate cancer (mCRPC) starting H1 2025, preclinical advancement of a second RIPTAC for metastatic breast cancer, team expansion, and further platform development for additional oncology indications. Key investors Rebecca Luse (Deep Track), Joe Cabral (Frazier), Nandita Shangari (RA Capital), and Arjun Goyal (Vida Ventures) joined the board. Halda's leadership has expertise in bifunctional drug discovery and clinical development. Preclinical data showed potential superiority to Pfizer's Xtandi in prostate cancer models and compatibility with PARP inhibitors. |
| Dec 2021 | Series B | Access Biotechnology (lead); Canaan Partners | $51M | Halda Therapeutics is a clinical-stage biotechnology company developing RIPTAC (Regulated Induced Proximity Targeting Chimeras) therapeutics, a novel class of oral small molecule cancer therapies that use a 'hold and kill' mechanism to target cancer cells and overcome drug resistance. Founded as a Yale spinout by professor Craig Crews, the company focuses on solid tumors including prostate and breast cancer, with lead candidate HLD-0915 for metastatic castration-resistant prostate cancer (mCRPC). Access Biotechnology led Halda's Series B financing in December 2021, with participation from Canaan Partners and others. Subsequent to the 2021 Series B, Halda raised additional funds, including a $126 million Series B extension on August 12, 2024, backed by Access Biotechnology, Canaan Partners, and new investors like RA Capital Management, Deep Track Capital, and Frazier Life Sciences, bringing total raised to $202 million at that point (later updated to $226.21 million over multiple rounds). These funds advanced HLD-0915 toward Phase 1 trials in 2025 and a second RIPTAC for metastatic breast cancer, while expanding the team and pipeline. Halda achieved significant milestones post-2021, presenting positive Phase 1/2 data for HLD-0915 showing tolerability and anti-tumor activity in heavily pretreated mCRPC patients. In November 2025, Johnson & Johnson announced its acquisition of Halda for $3.05 billion in cash, completed by December 29, 2025, to access the RIPTAC platform for oncology and beyond, including candidates for breast, lung, and other tumors. This exit delivered substantial value to investors including Access Biotechnology. |
| Feb 2019 | Series A | - | $6M | - |
| Feb 2019 | Series A | 6 Dimensions Capital (lead); Canaan Partners (lead); Connecticut Innovations (lead); Elm Street Ventures (lead); WuXi Healthcare Ventures (lead) | $25M | Halda Therapeutics, a Yale spinout founded in 2019, develops RIPTAC platform-based oral therapies for solid tumors, including lead candidate HLD-0915 for metastatic castration-resistant prostate cancer, with additional programs in breast, lung cancer, and beyond oncology. The company progressed HLD-0915 to Phase 1/2 trials showing tolerability, PSA reductions, and anti-tumor activity in heavily pretreated patients. |
Who has invested in Halda Therapeutics?
12 investors have backed Halda Therapeutics across its funding rounds, including Canaan Partners, Connecticut Innovations, Access Biotechnology, Elm Street Ventures, RA Capital Management and Boxer Capital.
Lead investors include Access Biotechnology, 6 Dimensions Capital, Canaan Partners, Connecticut Innovations, Elm Street Ventures and 1 other investor.
Halda Therapeutics Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Feb 2019 | ||
| 2 | Lead | Feb 2019 | ||
| 2 | Lead | Feb 2019 | ||
| 2 | Lead | Dec 2021 | ||
| 1 | Participant | Aug 2024 | ||
| 1 | Participant | Aug 2024 | ||
| 1 | Participant | Aug 2024 | ||
| 1 | Lead | Feb 2019 | ||
| 1 | Participant | Aug 2024 | ||
| 1 | Participant | Aug 2024 | ||
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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 TrialHalda Therapeutics Competitors
Halda Therapeutics competitors include listed companies like uniQure, Amoytop Biotech, Celldex Therapeutics and Neuland Laboratories, and private ones like NewLimit and Heyuan Biotechnology.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $16M | ($134M) | $3.1B | 112.7x | ||
| Publicly listed | $551M | $193M | $3B | 4.7x | ||
| Publicly listed | $2M | ($255M) | $3.1B | 1421.3x | ||
| Publicly listed | $201M | $61M | $3B | 13.1x | ||
| Private | - | - | $3.1B | - | ||
| Private | - | - | $3B | - |
Halda Therapeutics Public Comps
Halda Therapeutics is no longer listed, but its public comps include uniQure, Amoytop Biotech, Celldex Therapeutics, Neuland Laboratories, MBX Biosciences, Jilin Aodong, Virbac, Livzon Pharmaceutical Group, Tasly and Walvax Biotechnology.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $16M | ($134M) | 143.6x | 112.7x | (17.3x) | (11.8x) | |||
| $551M | $193M | 5.5x | 4.7x | 15.6x | - | |||
| $2M | ($255M) | 1520.5x | 1421.3x | (9.2x) | (7.6x) | |||
| $201M | $61M | 15.0x | 13.1x | 49.3x | 44.6x | |||
| - | ($98M) | - | - | (27.2x) | (18.5x) | |||
| $348M | - | 8.7x | 6.2x | - | 9.2x | |||
| $1.7B | $325M | 1.9x | 1.8x | 9.9x | 9.0x | |||
| $1.8B | $477M | 1.5x | 1.6x | 5.5x | 5.5x | |||
This data is available for Pro users. Sign up to see all Halda Therapeutics competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Halda Therapeutics
| When was Halda Therapeutics founded? | Halda Therapeutics was founded in 2018. |
| Where is Halda Therapeutics headquartered? | Halda Therapeutics is headquartered in New Haven, CT, United States. |
| Is Halda Therapeutics publicly listed? | No, Halda Therapeutics was acquired by Johnson & Johnson in November 2025. |
| Who acquired Halda Therapeutics? | Halda Therapeutics was acquired by Johnson & Johnson in November 2025. |
| How much was Halda Therapeutics acquired for? | Halda Therapeutics was acquired for $3B in November 2025. |
| How much funding has Halda Therapeutics raised? | Halda Therapeutics has raised $208M across 4 funding rounds. |
| What was Halda Therapeutics' last funding round? | Halda Therapeutics' last funding round was a $126M Series B in August 2024. |
| Who are Halda Therapeutics' investors? | Halda Therapeutics' investors include Canaan Partners, Elm Street Ventures, Connecticut Innovations, Access Biotechnology, Vida Ventures, Boxer Capital, Taiho Ventures, WuXi Healthcare Ventures, Deep Track Capital, Frazier Life Sciences and 2 others. |
| Which companies are comparable to Halda Therapeutics? | Companies comparable to Halda Therapeutics include uniQure, Amoytop Biotech, Celldex Therapeutics, Neuland Laboratories, NewLimit and Heyuan Biotechnology. |
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