InduPro Valuation, Funding & Investors

InduPro is valued at $950M as of August 2026.

Last InduPro valuation

$950M

Series B · Aug 2026

Last InduPro funding round

$77M

Series B · Aug 2026

Cumulative funding InduPro raised

$162M

across 4 funding rounds

Key investors in InduPro

  • Eli Lilly
  • Emerson Collective
  • The Column Group
  • Sanofi
  • Euclidean Capital
  • Vida Ventures

InduPro Overview

About InduPro

InduPro is a Seattle-based biotechnology company engineering protein therapeutics targeting immune cell surface receptors. The firm develops bispecific antibodies for oncology and autoimmune diseases using its proprietary discovery platform. Founded in 2022, InduPro raised $50 million in Series A from Takeda Ventures and Bristol Myers Squibb.


Founded

2022

HQ

United StatesSeattle, WA

Status

Privately held

Customer focus

B2B

Revenue model

Licensing

Valuation

$950M (Aug 2026)

InduPro Valuation

InduPro is currently valued at $950M, based on its Series B in August 2026.

The $77M round was led by The Column Group, with participation from Vida Ventures, Emerson Collective, Eli Lilly, Sanofi, MRL Ventures Fund and 2 other investors.

InduPro valuation by funding round

InduPro valuation by funding round
DateStageValuation
Aug 2026Series B$950M

InduPro Funding History

InduPro has raised a total of $162M across 4 funding rounds.

InduPro's first fundraising round was a $85M Series A in June 2024. The most recent completed round was a $77M Series B in August 2026.

InduPro funding rounds

InduPro funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Aug 2026Series BThe Column Group (lead); Vida Ventures; Emerson Collective; Eli Lilly; Sanofi; MRL Ventures Fund; Solasta Ventures; Euclidean Capital$77M$950MInduPro closed a $77 million Series B financing on August 12, 2026, led by The Column Group, with participation from Vida Ventures, MRL Ventures Fund, Emerson Collective, Euclidean Capital, Solasta Ventures, Sanofi, and Eli Lilly and Company. Separately, InduPro had previously announced a global strategic collaboration and licensing agreement with Lilly, plus an equity investment, covering up to three oncology targets and carrying a total deal value of approximately $950 million; the transaction included an equity investment from Lilly and was described as involving convertible preferred shares. The financing supports Phase 1 clinical development of IDP-001, InduPro’s lead oncology program, and advancement of its broader preclinical pipeline. The Lilly collaboration is aimed at discovering novel oncology therapeutics using InduPro’s proximity-guided platform, which focuses on membrane protein spatial relationships to create treatments for cancer and autoimmune diseases. InduPro announced the dosing of the first patient in its Phase 1 study of IDP-001 alongside the Series B closing. InduPro is a biotechnology company based in Seattle and Cambridge, Massachusetts, focused on developing bispecific and multispecific therapeutics for oncology and autoimmune disease through its membrane-protein spatial biology platform.
Jan 2026Strategic investmentEli Lilly (lead)--InduPro, a biotech company headquartered in Seattle and Cambridge, Massachusetts, develops bi- and tri-specific therapeutics for cancer and autoimmune diseases using its AI/ML-enabled membrane interactomics (MInt) platform, which analyzes tumor antigen proximity to identify disease-specific protein-target pairs. The company was founded in 2022 and previously raised $85 million in Series A funding in June 2024. Its lead autoimmune bispecific, IDP-003, targeting PD-1 and T-cell antigen 2, is in studies to enable human testing, with several early cancer programs in development. On January 7, 2026, InduPro announced a strategic collaboration with Eli Lilly involving an undisclosed equity investment and potential milestones up to $950 million for discovery work on up to three undisclosed cancer targets. InduPro will lead early discovery efforts using its MInt platform. This marks InduPro's second major pharma partnership, following a December deal with Sanofi that included an equity investment and collaboration on preclinical studies for bispecific PD-1 agonist antibodies, granting Sanofi first pick of autoimmune candidates.
Dec 2025Strategic investmentSanofi (lead)--InduPro, Inc. is a biotechnology company that defines membrane protein spatial relationships to create novel therapeutics for cancer and autoimmune diseases using proprietary high-resolution proximity labeling technology to discover co-target pairs for induced proximity mechanisms. On December 10, 2025, InduPro announced a strategic equity investment from Sanofi alongside a research collaboration focused on preclinical and IND-enabling activities for its bispecific PD-1 agonist program in autoimmune and inflammatory disorders, with Sanofi holding right of first negotiation. Sanofi provided funding for the research and made an undisclosed equity investment. The partnership leverages Sanofi's expertise in autoimmune diseases to advance InduPro's first-in-class molecule toward clinical development.
Jun 2024Series AThe Column Group (lead); Vida Ventures (lead); Emerson Collective; MRL Ventures Fund; Euclidean Capital$85M-InduPro is a biotechnology company founded in 2022 and dual-headquartered in Seattle, Washington and Cambridge, Massachusetts. The company develops next-generation therapeutics for cancer and autoimmune diseases by defining and harnessing protein spatial relationships to identify novel, tumor-selective targets and co-target pairs using bispecific antibodies, antibody drug conjugates (ADCs), and T-cell engagers (TCEs). On June 13, 2024, InduPro announced an $85 million Series A financing co-led by The Column Group and Vida Ventures, with participation from MRL Ventures Fund (Merck's therapeutics-focused venture fund), Emerson Collective, and Euclidean Capital. The company appointed Prakash Raman, Ph.D. as CEO to lead the effort, bringing over two decades of biopharmaceutical business development experience from roles at Novartis and Flagship Pioneering, including previous service as CEO of Ribon Therapeutics. The Series A funding supports advancement of InduPro's lead clinical product candidate targeting cancer tissue from preclinical development toward an anticipated IND filing in Q4 2025 for Phase 1 clinical trials, as well as the expansion of a pipeline of novel bispecific antibodies and antibody drug conjugates leveraging protein proximity for tumor-selective target identification. The company's proximity-based discovery engine is positioned to address areas of high unmet medical need in oncology and autoimmune disease treatment.

Who has invested in InduPro?

8 investors have backed InduPro across its funding rounds, including Eli Lilly, Emerson Collective, The Column Group, Sanofi, Euclidean Capital and Vida Ventures.

Lead investors include The Column Group, Eli Lilly, Sanofi and Vida Ventures.


InduPro Investors

Investors in InduPro by funding rounds participated
InvestorHQRoundsRoleFirst check
Vida VenturesUnited StatesBoston, MA2LeadJun 2024
Emerson CollectiveUnited StatesSan Francisco, CA2ParticipantJun 2024
The Column GroupUnited StatesSan Francisco, CA2LeadJun 2024
Eli LillyUnited StatesIndianapolis, IN2LeadJan 2026
SanofiFranceParis2LeadDec 2025
MRL Ventures FundUnited StatesUnited States2ParticipantJun 2024

This data is available for Pro users. Sign up to see all 8 InduPro investors.

Start Free Trial

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

InduPro Competitors

InduPro competitors include listed companies like Solid Biosciences, Changchun BCHT, Zhejiang Ausun and Mega Lifesciences, and private ones like Bionyra and BenevolentAI.

Public and private companies comparable to InduPro
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Solid BiosciencesUnited StatesUnited StatesPublicly listed-($183M)$951M-
Changchun BCHTChinaChinaPublicly listed$90M($30M)$941M10.9x
Zhejiang AusunChinaChinaPublicly listed$118M$29M$941M6.5x
Mega LifesciencesThailandThailandPublicly listed$425M$82M$936M1.9x
BionyraFranceParisPrivate--$985M-
BenevolentAIUnited KingdomLondonPrivate$10M-$1B100.0x
Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Solid Biosciences-($183M)--(3.2x)(2.7x)
Changchun BCHT$90M($30M)10.7x10.9x(32.5x)(36.5x)
Zhejiang Ausun$118M$29M7.1x6.5x28.9x15.3x
Mega Lifesciences$425M$82M2.0x1.9x10.2x8.4x
Daewoong Pharmaceutical$1.1B$184M1.4x1.4x8.6x7.8x
Sana Biotechnology-($235M)--(3.6x)(4.6x)
Chengdu Kanghua$174M$50M4.7x4.4x16.6x16.3x
Kaken Pharmaceutical$494M$35M1.4x1.3x19.4x15.4x

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

Start Free Trial

Common questions about InduPro

When was InduPro founded?InduPro was founded in 2022.
Where is InduPro headquartered?InduPro is headquartered in Seattle, WA, United States.
Is InduPro publicly listed?No, InduPro is a private, VC-backed company.
What is InduPro's valuation?InduPro was last valued at $950M in its Series B in August 2026.
How much funding has InduPro raised?InduPro has raised $162M across 4 funding rounds.
What was InduPro's last funding round?InduPro's last funding round was a $77M Series B in August 2026, led by The Column Group.
Who are InduPro's investors?InduPro's investors include Vida Ventures, Emerson Collective, The Column Group, Eli Lilly, Sanofi, MRL Ventures Fund, Euclidean Capital and Solasta Ventures.
Which companies are comparable to InduPro?Companies comparable to InduPro include Solid Biosciences, Changchun BCHT, Zhejiang Ausun, Mega Lifesciences, Bionyra and BenevolentAI.

See companies similar to InduPro

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