Indapta Therapeutics Funding, Investors & Competitors

Indapta Therapeutics has raised $123M across 3 funding rounds, most recently a $51M undisclosed-stage round in October 2025.

Last Indapta Therapeutics funding round

$51M

Undisclosed stage · Oct 2025

Cumulative funding Indapta Therapeutics raised

$123M

across 3 funding rounds

Key investors in Indapta Therapeutics

  • RA Capital Management
  • Leaps by Bayer
  • Myeloma Investment Fund
  • Vertex Ventures
  • Pontifax
  • Red Cedar Ventures
  • Vertex Ventures HC
  • Lonza Group

Indapta Therapeutics Overview

About Indapta Therapeutics

Indapta Therapeutics is a biotechnology company developing an NK cell therapy platform against blood cancers and solid tumors. The private firm engineers natural killer cells for enhanced efficacy from its U.S.-based research facilities.


Founded

2017

HQ

United StatesSan Francisco, CA

Status

Privately held

Customer focus

B2C

Revenue model

Product sales

Indapta Therapeutics Funding History

Indapta Therapeutics has raised a total of $123M across 3 funding rounds.

Indapta Therapeutics' first fundraising round was a $50M Series A in February 2022. The most recent completed round was a $51M undisclosed-stage round in October 2025.

Indapta Therapeutics funding rounds

Indapta Therapeutics funding rounds
DateStageInvestorsRaisedDeal Summary
Oct 2025Undisclosed stage-$51MIndapta Therapeutics is a clinical-stage biotechnology company headquartered in Houston and Seattle, developing next-generation allogeneic g-NK (FcRγ-deficient natural killer) cell therapies for cancer and autoimmune diseases, with lead candidate IDP-023 in Phase 1 trials for Non-Hodgkin’s Lymphoma, Multiple Myeloma, and planned for multiple sclerosis. The company raised $22.5 million in a new financing round announced December 17, 2024, backed by existing investors RA Capital Management, Leaps by Bayer, Vertex Ventures HC, Pontifax, and the Myeloma Investment Fund. This follows over $50 million in Series A funding in 2022, bringing total funding to approximately $73 million across three rounds. The funds will support ongoing clinical trials of IDP-023 in cancer, generate initial data from autoimmune disease trials starting Q1 2025, and advance preparations for new studies. Indapta recently announced a collaboration with Sanofi to combine IDP-023 with Sarclisa (isatuximab) targeting CD38.
Dec 2024Undisclosed stageVertex Ventures HC; Myeloma Investment Fund; Leaps by Bayer; RA Capital Management; Pontifax$23MIndapta Therapeutics is a privately held, clinical-stage biotechnology company with dual headquarters in Houston and Seattle, developing next-generation allogeneic natural killer (g-NK) cell therapies for cancer and autoimmune diseases. Its lead product, IDP-023, is in Phase 1 clinical trials for Non-Hodgkin’s Lymphoma and Multiple Myeloma, with enrollment completed in the safety run-in portion, and plans to initiate a Phase 1 trial for progressive multiple sclerosis in Q1 2025 in combination with ocrelizumab following FDA IND clearance in August 2024. The company leverages a proprietary platform of naturally-occurring g-NK cells designed for high potency, accessibility, and scalability. On December 17, 2024, Indapta closed a $22.5 million financing round participated in by existing investors RA Capital Management, Leaps by Bayer, Vertex Ventures HC, Pontifax, and the Myeloma Investment Fund, a venture philanthropy subsidiary of the Multiple Myeloma Research Foundation. This funding follows a prior Series A round of over $50 million in 2022 (noted as $60 million in one source) and aims to accelerate clinical development, generate additional data from ongoing cancer trials, produce initial data from autoimmune disease trials, and extend the cash runway. Indapta recently announced a collaboration with Sanofi to explore combining IDP-023 with Sanofi’s CD38-targeting monoclonal antibody Sarclisa (isatuximab). The company, founded in 2017, focuses on expanding g-NK cells from high-level donors for off-the-shelf infusion therapies, targeting blood cancers, solid tumors, and autoimmune conditions like multiple sclerosis. Preliminary Phase 1 results for IDP-023 in cancer are described as encouraging, with clinical data expected in the latter part of 2025.
Feb 2022Series ALeaps by Bayer (lead); RA Capital Management (lead); Vertex Ventures (lead); Red Cedar Ventures; Myeloma Investment Fund; Lonza Group$50MIndapta Therapeutics is a San Francisco-based biotechnology company focused on developing a proprietary natural killer (NK) cell therapy platform for treating blood and solid tumor cancers. The company's platform centers on G-NK cells, a subset of natural killer cells with increased potency relative to conventional NK cells. These G-NK cells possess high antibody-dependent cellular cytotoxicity and have potential to provide clinical benefit when used in combination with monoclonal antibodies. On February 10, 2022, Indapta closed a Series A-1 financing round raising more than $50 million. The round was co-led by RA Capital Management, Vertex Ventures HC, and Leaps by Bayer, the impact investment arm of Bayer AG. Additional investors included the Myeloma Investment Fund (the venture philanthropy subsidiary of the Multiple Myeloma Research Foundation), Lonza Group Ltd, and a total of 37 investors. The funding was designated to advance the company's allogeneic NK cell platform toward an Investigational New Drug Application (IND) and clinical trials, with particular focus on multiple myeloma and lymphoma indications. As part of the financing, the company appointed Mark W. Frohlich, M.D., as Chief Executive Officer, replacing founding CEO Guy DiPierro, who transitioned to Chief Strategy Officer. Dr. Frohlich brought significant biopharma expertise, previously serving as an executive at cancer cell therapy developer Juno Therapeutics. The round also expanded the board with Laura Stoppel from RA Capital Management, Lori Hu from Vertex Ventures HC, and Fabio Pucci from Leaps by Bayer. Indapta was founded in 2017 based on research by Sungjin Kim from UC Davis's Center for Immunology and Infectious Diseases and John Sunwoo from Stanford University's head and neck cancer research program. The company partnered with Lonza, a world-leading cell therapy manufacturer, to develop robust, reproducible, and scalable clinical good manufacturing processes (cGMP) for G-NK cells intended for clinical trials.

Who has invested in Indapta Therapeutics?

8 investors have backed Indapta Therapeutics across its funding rounds, including RA Capital Management, Leaps by Bayer, Myeloma Investment Fund, Vertex Ventures, Pontifax and Red Cedar Ventures.

Lead investors include Leaps by Bayer, RA Capital Management and Vertex Ventures.


Indapta Therapeutics Investors

Investors in Indapta Therapeutics by funding rounds participated
InvestorHQRoundsRoleFirst check
Myeloma Investment FundUnited StatesBoston, MA2ParticipantFeb 2022
Leaps by BayerGermanyLeverkusen2LeadFeb 2022
RA Capital ManagementUnited StatesBoston, MA2LeadFeb 2022
Red Cedar VenturesUnited StatesLansing, MI1ParticipantFeb 2022
Vertex VenturesSingaporeSingapore1LeadFeb 2022
Vertex Ventures HCUnited StatesSan Francisco, CA1ParticipantDec 2024

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Indapta Therapeutics Competitors

Indapta Therapeutics competitors include listed companies like Lonza Group and Eli Lilly, and private ones like BioRay Pharmaceuticals, Belief BioMed, Letu and Sonoma Biotherapeutics.

Public and private companies comparable to Indapta Therapeutics
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Lonza GroupSwitzerlandSwitzerlandPublicly listed$7.9B$2.5B$46B5.9x
BioRay PharmaceuticalsChinaShanghaiPrivate$131M-$1.9B14.5x
Belief BioMedChinaShanghaiPrivate--$1.3B-
LetuChinaShenzhenPrivate--$1.1B-
Sonoma BiotherapeuticsUnited StatesSan Francisco, CAPrivate--$732M-
Eli LillyUnited StatesUnited StatesPublicly listed$65B$28B$1.0T13.1x

Indapta Therapeutics Public Comps

Indapta Therapeutics is still privately-owned, but its public comps include Eli Lilly, Johnson & Johnson, AbbVie, Merck, Roche, Novartis, AstraZeneca, Amgen, Novo Nordisk and Gilead Sciences.

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
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
Amgen$37B$17B6.8x6.5x14.8x14.4x

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Common questions about Indapta Therapeutics

When was Indapta Therapeutics founded?Indapta Therapeutics was founded in 2017.
Where is Indapta Therapeutics headquartered?Indapta Therapeutics is headquartered in San Francisco, CA, United States.
Is Indapta Therapeutics publicly listed?No, Indapta Therapeutics is a private, VC-backed company.
How much funding has Indapta Therapeutics raised?Indapta Therapeutics has raised $123M across 3 funding rounds.
What was Indapta Therapeutics' last funding round?Indapta Therapeutics' last funding round was a $51M undisclosed-stage round in October 2025.
Who are Indapta Therapeutics' investors?Indapta Therapeutics' investors include Myeloma Investment Fund, Leaps by Bayer, RA Capital Management, Red Cedar Ventures, Vertex Ventures, Vertex Ventures HC, Pontifax and Lonza Group.
Which companies are comparable to Indapta Therapeutics?Companies comparable to Indapta Therapeutics include Lonza Group, BioRay Pharmaceuticals, Belief BioMed, Letu, Sonoma Biotherapeutics and Eli Lilly.

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