- Companies
- Hexagon Bio
Hexagon Bio Valuation, Funding & Investors
Hexagon Bio is valued at $297M as of October 2022.
Last Hexagon Bio valuation
$297M
Series B · Oct 2022
Last Hexagon Bio funding round
$77M
Series B · Oct 2022
Cumulative funding Hexagon Bio raised
$194M
across 4 funding rounds
Key investors in Hexagon Bio
8VC
Two Sigma Ventures
The Column Group
Nextech Invest
SoftBank Group
CPP Investments
About Hexagon Bio
Hexagon Bio is a Menlo Park-based biotechnology company engineering small molecule therapeutics from fungal genomes. Its platform merges data science and synthetic biology to identify drug candidates targeting unmet needs in infectious diseases and oncology through natural product optimization.
Founded
2016
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Licensing
Valuation
$297M (Oct 2022)
Hexagon Bio Valuation
Hexagon Bio is currently valued at $297M, based on its Series B in October 2022.
The $77M round included Nextech Invest, The Column Group, 8VC, ATEL Growth Capital, CPP Investments and 1 other investor.
Hexagon Bio valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Oct 2022 | Series B | $297M |
Hexagon Bio Funding History
Hexagon Bio has raised a total of $194M across 4 funding rounds.
Hexagon Bio's first fundraising round was a $8M seed round in June 2017. The most recent completed round was a $77M Series B in October 2022.
Hexagon Bio funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Oct 2022 | Series B | Nextech Invest; The Column Group; 8VC; ATEL Growth Capital; CPP Investments; Two Sigma Ventures | $77M | $297M | Hexagon Bio is a Menlo Park, California-based biopharmaceutical company that pioneers the discovery of small molecule therapeutics encoded in the global metagenome of microbes such as bacteria and fungi. Its interdisciplinary platform integrates machine learning, genomics, chemistry, and synthetic biology to build a proprietary database of microbial genomes 10x larger than public databases, enabling systematic identification and optimization of novel compounds targeting proteins implicated in diseases. The company focuses initially on oncology and infectious diseases, mining uncultured microbial genomes to uncover metabolites evolved to inhibit disease-relevant proteins. In February 2023, Hexagon Bio announced a $77.3 million Series B financing round with participation from existing investors including The Column Group, Two Sigma Ventures, 8VC, and Nextech Invest, joined by new investor Canada Pension Plan Investment Board (CPP Investments). This followed a $61 million raise in 2021 led by Nextech Invest and a $47 million Series A in 2020 led by The Column Group, bringing total venture financing to over $185 million since 2017. Proceeds are intended to expand the platform's capabilities, grow the team across disciplines, and advance initial programs toward development candidate nomination. The Series B announcement coincided with leadership strengthening: Tara Arvedson, former Executive Director of Oncology Research at Amgen, was promoted to Chief Scientific Officer after joining as SVP Research, and Victor Cee, former Amgen project leader for Lumakras (sotorasib), joined as SVP Drug Discovery. |
| Sep 2021 | Undisclosed stage | Nextech Invest (lead); The Column Group; SoftBank Group; 8VC; Casdin Capital; Two Sigma Ventures | $61M | - | Hexagon Bio is a biopharmaceutical company based in Menlo Park, CA, pioneering the discovery of novel small-molecule medicines by mining microbial genomes from the global metagenome. Its interdisciplinary platform integrates machine learning, genomics, synthetic biology, and automation to identify drug-like compounds evolved over millions of years, targeting diseases with unmet needs, initially in oncology and infectious diseases. The company raised $61 million in a funding round announced on September 22, 2021, led by Nextech Invest, with participation from new investors SoftBank Vision Fund 2 and Casdin Capital, plus existing investors The Column Group, 8VC, and Two Sigma Ventures. This brought total committed funding to over $108 million, following a prior $47 million Series A. Proceeds were allocated to expand the drug discovery platform and advance a preclinical pipeline. Nextech Invest's managing partner Jakob Loven, Ph.D., joined the board. |
| Sep 2020 | Series A | The Column Group (lead); 8VC; LeFrak; Two Sigma Ventures | $47M | - | Hexagon Bio is a data-driven biotechnology company headquartered in Menlo Park, CA, that develops targeted small molecule therapeutics by combining data science, genomics, synthetic biology, and automation to mine fungal genomes for potent, evolutionarily refined molecules addressing unmet needs in oncology, infectious diseases, and potentially immunology, cardiovascular, neurological, and metabolic disorders. The company launched in 2017 and focuses on discovering secondary metabolites and their protein targets to combat drug-resistant infections and cancer. On approximately September 15, 2020, Hexagon Bio closed a $47 million Series A financing round led by The Column Group, with participation from 8VC and Two Sigma Ventures, bringing total funding to $55 million at that point. The round valued the company at $33.2 million and supported expansion of its interdisciplinary platform, addition of drug discovery capabilities, and hiring Tod Smeal, PhD, formerly of Eli Lilly, Pfizer, and SUGEN, as Chief Scientific Officer. The company has continued raising capital, including additional Series A extensions and a $61 million round in September 2021 led by Nextech Invest with SoftBank Vision Fund 2, Casdin Capital, and existing investors, totaling over $108 million, followed by a $77.3 million Series B in February 2023, pushing cumulative funding to $205.6 million across multiple rounds with the same core investors. |
| Jun 2017 | Seed | 8VC (lead); bpd partners | $8M | - | Hexagon Bio, a biopharmaceutical company, uses data science, genomics, synthetic biology, and automation to discover potent small molecules from fungal genomes for therapeutics targeting oncology and infectious diseases. The company launched in 2017. In June or July 2017, Hexagon Bio raised $8.3 million in a seed round led by 8VC with participation from bpd partners or others, followed by additional early financings including an $8.4 million Series Seed in November 2017. Subsequent rounds included a $47 million Series A in 2020 led by The Column Group with 8VC and Two Sigma Ventures, bringing total funding to $55 million at that time, a $61 million round in September 2021 led by Nextech Invest with SoftBank Vision Fund 2, Casdin Capital, The Column Group, 8VC, and Two Sigma Ventures, and a $77.3 million Series B in February 2023 with The Column Group, Two Sigma Ventures, 8VC, Nextech, and CPP Investments, for total funding over $205 million across six rounds. |
Who has invested in Hexagon Bio?
10 investors have backed Hexagon Bio across its funding rounds, including 8VC, Two Sigma Ventures, The Column Group, Nextech Invest, SoftBank Group and CPP Investments.
Lead investors include Nextech Invest, The Column Group and 8VC.
Hexagon Bio Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Jun 2017 | ||
| 3 | Lead | Sep 2020 | ||
| 3 | Participant | Sep 2020 | ||
| 2 | Lead | Sep 2021 | ||
| 1 | Participant | Jun 2017 | ||
| 1 | Participant | Sep 2021 | ||
| 1 | Participant | Sep 2021 | ||
| 1 | Participant | Oct 2022 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialHexagon Bio Competitors
Hexagon Bio competitors include listed companies like Abclon and Zentalis Pharma, and private ones like Geneplus-Beijing Co. Ltd., Valo Health, CureGenetics and Next Generation Gene Therapeutics.
| Company | HQ | Status | Revenue | EBITDA | Valuation |
|---|---|---|---|---|---|
| Private | - | - | $295M | ||
| Private | - | - | $300M | ||
| Private | - | - | $311M | ||
| Private | - | - | $267M | ||
| Publicly listed | $3M | ($12M) | $293M | ||
| Publicly listed | - | ($136M) | $302M |
Hexagon Bio Public Comps
Hexagon Bio is still privately-owned, but its public comps include Celon Pharma, Palisade Bio, Shanghai Hile Bio-Tech, Clinuvel Pharmaceuticals, Abclon, Santhera Pharma, Zentalis Pharma, Vicore Pharma Holding, Fate Therapeutics and Upstream Bio.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $48M | $4M | 6.7x | 4.7x | 79.9x | 40.5x | |||
| - | ($17M) | - | 556.5x | (10.2x) | - | |||
| $28M | ($26M) | 9.6x | - | (10.5x) | - | |||
| $67M | $27M | 4.2x | 4.1x | 10.3x | 9.8x | |||
| $3M | ($12M) | 79.2x | - | (22.2x) | - | |||
| $94M | ($45M) | 3.5x | 3.0x | (7.2x) | (10.9x) | |||
| - | ($136M) | - | - | (1.2x) | (0.9x) | |||
| $389K | ($51M) | 510.6x | 569.0x | (3.9x) | (4.5x) | |||
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Common questions about Hexagon Bio
| When was Hexagon Bio founded? | Hexagon Bio was founded in 2016. |
| Where is Hexagon Bio headquartered? | Hexagon Bio is headquartered in San Francisco, CA, United States. |
| Is Hexagon Bio publicly listed? | No, Hexagon Bio is a private, VC-backed company. |
| What is Hexagon Bio's valuation? | Hexagon Bio was last valued at $297M in its Series B in October 2022. |
| How much funding has Hexagon Bio raised? | Hexagon Bio has raised $194M across 4 funding rounds. |
| What was Hexagon Bio's last funding round? | Hexagon Bio's last funding round was a $77M Series B in October 2022. |
| Who are Hexagon Bio's investors? | Hexagon Bio's investors include 8VC, The Column Group, Two Sigma Ventures, Nextech Invest, bpd partners, SoftBank Group, Casdin Capital, ATEL Growth Capital, CPP Investments and LeFrak. |
| Which companies are comparable to Hexagon Bio? | Companies comparable to Hexagon Bio include Geneplus-Beijing Co. Ltd., Valo Health, CureGenetics, Next Generation Gene Therapeutics, Abclon and Zentalis Pharma. |
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