- Companies
- Jnana Therapeutics
Jnana Therapeutics Acquisition, Valuation, Funding & Investors
Jnana Therapeutics was acquired by Otsuka America for $800M in August 2024.
Jnana Therapeutics acquisition price
$800M
Acquired by Otsuka America · Aug 2024
Cumulative funding Jnana Therapeutics raised
$207M
across 3 funding rounds
Key investors in Jnana Therapeutics
Polaris Partners
Versant Ventures
Avalon Ventures
AbbVie
RA Capital Management
Pfizer Venture Investments
Bain Capital
Pfizer R&D Innovate
About Jnana Therapeutics
Jnana Therapeutics is a Boston-based biotechnology company utilizing its RAPID chemoproteomics platform to discover small molecule drugs for diseases like rheumatoid arthritis and oncology. The firm identifies undruggable targets, advancing multiple candidates into preclinical stages. Jnana Therapeutics collaborates with Pfizer and Eli Lilly, raising over $200 million in funding since 2019.
Founded
2017
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Licensing
Valuation
$135M (Dec 2017)
Sectors
Jnana Therapeutics Acquisition
Jnana Therapeutics was acquired by Otsuka America for $800M on 1 August 2024.
Before the acquisition Jnana Therapeutics had raised $207M across 3 funding rounds.
Jnana Therapeutics, a Boston-based biotech founded in 2017, develops a chemoproteomics drug discovery platform targeting hard-to-drug proteins like solute carriers, transcription factors, and signaling scaffolds, with a focus on autoimmune diseases and rare metabolic disorders such as phenylketonuria (PKU). Its lead candidate, JNT-517, is an oral allosteric inhibitor of SLC6A19 that demonstrated proof-of-concept in a Phase 1b/2 trial, earning orphan drug, rare pediatric disease, and PRIME designations from FDA and EMA. Otsuka Pharmaceutical, through its wholly owned subsidiary Otsuka America Inc. (OAI), completed the acquisition of Jnana in late 2024, making it a direct wholly owned subsidiary that continues R&D operations in Boston. The deal structure includes an upfront cash payment of $800 million to Jnana shareholders upon closing, plus up to $325 million in contingent development and regulatory milestones, for a potential total value of $1.125 billion. The transaction, announced August 1, 2024, closed in Q3 fiscal 2024 after shareholder approval and U.S. antitrust clearance, implemented via merger of an OAI special purpose entity into Jnana. Otsuka views Jnana's platform as complementary to its existing technologies, including Astex Pharmaceuticals and Visterra's antibody work, to expand portfolios in rare diseases, autoimmune conditions, and specialty therapeutics. Strategically, the acquisition bolsters Otsuka's Boston R&D presence in a key biocluster, synergizing with its global expansion goals, and positions JNT-517 as a potential first-in-class PKU therapy advancing to Phase 3 in early 2025 amid rising interest in the indication, as evidenced by concurrent FDA filings from competitors like PTC Therapeutics. Jnana had attracted prior investment from AbbVie and Pfizer venture arms, raising $207 million across rounds since inception.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 1 Aug 2024 | Strategic M&A | $800M |
Jnana Therapeutics Valuation
Jnana Therapeutics is currently valued at $135M, based on its Series A in December 2017.
The $50M round was led by Polaris Partners, with participation from Pfizer R&D Innovate, Versant Ventures, AbbVie and Avalon Ventures.
Jnana Therapeutics valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Dec 2017 | Series A | $135M |
Jnana Therapeutics Funding History
Jnana Therapeutics has raised a total of $207M across 3 funding rounds.
Jnana Therapeutics' first fundraising round was a $50M Series A in December 2017. The most recent completed round was a $107M Series C in November 2022.
Jnana Therapeutics funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Nov 2022 | Series C | Bain Capital (lead); Pfizer Venture Investments; Polaris Partners; Versant Ventures; AbbVie; RA Capital Management; Avalon Ventures | $107M | - | Jnana Therapeutics is a clinical-stage biotechnology company leveraging its next-generation chemoproteomics RAPID platform to discover medicines for challenging-to-drug targets, including its lead program in phenylketonuria (PKU), a rare genetic metabolic disease, as well as programs in immune-mediated diseases and cancer. On November 15, 2022, the company closed a $107 million Series C financing round led by Bain Capital Life Sciences, with participation from existing investors RA Capital Management, Polaris Partners, Versant Ventures, Avalon Ventures, and Pfizer Ventures. Ron Renaud from Bain Capital Life Sciences joined the board. The proceeds are designated to advance Jnana's wholly owned PKU program, JNT-517, through a clinical proof-of-concept study after dosing first healthy volunteers in phase 1 and receiving rare pediatric disease designation from U.S. regulators. The financing coincides with the initiation of a second collaboration with Roche, providing $50 million upfront and potential milestones exceeding $2 billion for discovery and preclinical work on multiple targets in cancer, immune-mediated diseases, and neurology, following a prior 2020 deal worth up to $1 billion on SLC metabolite transporters. This Series C follows a $50 million Series B more than a year earlier, bolstering Jnana's momentum as it progresses first-in-class candidates from its platform, which uses enhanced chemoproteomics to identify novel drugs. CEO Joanne Kotz emphasized the syndicate's confidence in the platform's potential for breakthrough therapies addressing high unmet needs. |
| Aug 2021 | Series B | RA Capital Management (lead); Pfizer Venture Investments; Polaris Partners; Versant Ventures; AbbVie; Avalon Ventures | $50M | - | Jnana Therapeutics, a Boston-headquartered biotech startup, raised $50 million in an oversubscribed Series B funding round on August 18, 2021, led by RA Capital Management with participation from AbbVie, Avalon Ventures, Pfizer Venture Investments, Polaris Partners, and Versant Ventures. The company focuses on developing small-molecule therapeutics targeting undruggable proteins using its proprietary Helicon platform, which enables discovery of therapeutics against challenging targets in diseases like inflammation and oncology. This round brought total funding to $75 million following a $25 million Series A in 2019 led by Versant Ventures. |
| Dec 2017 | Series A | Polaris Partners (lead); Pfizer R&D Innovate; Versant Ventures; AbbVie; Avalon Ventures | $50M | $135M | Jnana Therapeutics launched in December 2017 as a Boston-based biotechnology company developing a drug discovery platform targeting the solute carrier (SLC) family of transporters, referred to as the cell's metabolic gates, to address diseases involving abnormal metabolite balance such as rare diseases, immune-mediated conditions, and cancer. The company debuted with a $50 million Series A financing round on December 14, 2017, led by Polaris Partners, with participation from seed investors Avalon Ventures, and new investors Versant Ventures, AbbVie Ventures, and Pfizer R&D Innovate. Polaris Partners' Amir Nashat served as CEO and board member, joined by Kevin Kinsella from Avalon Ventures and Carlo Rizzuto from Versant Ventures. The founding team included prominent figures like Stuart Schreiber, co-founder of Vertex, Ariad, and H3 Biomedicine; Ramnik Xavier, chief of Gastroenterology at Massachusetts General Hospital and Harvard professor; Joanne Kotz, previously Director at Broad Institute, as President; and Joel Barrish, former VP and Head of Discovery Chemistry at Bristol-Myers Squibb, as Chief Scientific Officer. Jnana's next-generation chemoproteomics RAPID platform enables small-molecule drug development against underexplored SLC targets, with over 400 family members mostly unstudied despite their therapeutic potential. Subsequent rounds included a Series B in 2021 ($50 million) and Series C in 2022 ($107 million), bringing total funding to $207 million before its acquisition stage. |
Who has invested in Jnana Therapeutics?
8 investors have backed Jnana Therapeutics across its funding rounds, including Polaris Partners, Versant Ventures, Avalon Ventures, AbbVie, RA Capital Management and Pfizer Venture Investments.
Lead investors include Bain Capital, RA Capital Management and Polaris Partners.
Jnana Therapeutics Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Dec 2017 | ||
| 3 | Participant | Dec 2017 | ||
| 3 | Participant | Dec 2017 | ||
| 3 | Participant | Dec 2017 | ||
| 2 | Participant | Aug 2021 | ||
| 2 | Lead | Aug 2021 | ||
This data is available for Pro users. Sign up to see all 8 Jnana Therapeutics 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 TrialJnana Therapeutics Competitors
Jnana Therapeutics competitors include listed companies like Design Therapeutics, China TCM, Aclaris Therapeutics and Guizhou Sanli, and private ones like Crystalys Therapeutics and Umoja Biopharma.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $800M | - | ||
| Private | - | - | $800M | - | ||
| Publicly listed | - | ($79M) | $802M | - | ||
| Publicly listed | $2.2B | $128M | $805M | 0.4x | ||
| Publicly listed | $8M | ($72M) | $795M | 108.5x | ||
| Publicly listed | $254M | $22M | $794M | - |
Jnana Therapeutics Public Comps
Jnana Therapeutics is no longer listed, but its public comps include Design Therapeutics, China TCM, Aclaris Therapeutics, Guizhou Sanli, HK inno.N, Climb Bio, Annexon, 4D Molecular Therapeutics, Achieve Life Sciences and BlossomHill Therapeutics.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| - | ($79M) | - | - | (7.6x) | - | |||
| $2.2B | $128M | 0.3x | 0.4x | 5.5x | 6.9x | |||
| $8M | ($72M) | 89.9x | 108.5x | (9.8x) | - | |||
| $254M | $22M | 3.4x | - | 38.4x | - | |||
| $774M | $109M | 1.4x | 1.3x | 9.6x | 8.5x | |||
| - | ($68M) | - | - | (9.2x) | (9.0x) | |||
| - | ($214M) | - | - | (2.8x) | (2.7x) | |||
| $85M | ($152M) | 5.7x | 14.6x | (3.2x) | (1.9x) | |||
This data is available for Pro users. Sign up to see all Jnana Therapeutics competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Jnana Therapeutics
| When was Jnana Therapeutics founded? | Jnana Therapeutics was founded in 2017. |
| Where is Jnana Therapeutics headquartered? | Jnana Therapeutics is headquartered in Boston, MA, United States. |
| Is Jnana Therapeutics publicly listed? | No, Jnana Therapeutics was acquired by Otsuka America in August 2024. |
| Who acquired Jnana Therapeutics? | Jnana Therapeutics was acquired by Otsuka America in August 2024. |
| How much was Jnana Therapeutics acquired for? | Jnana Therapeutics was acquired for $800M in August 2024. |
| What is Jnana Therapeutics' valuation? | Jnana Therapeutics was last valued at $135M in its Series A in December 2017. |
| How much funding has Jnana Therapeutics raised? | Jnana Therapeutics has raised $207M across 3 funding rounds. |
| What was Jnana Therapeutics' last funding round? | Jnana Therapeutics' last funding round was a $107M Series C in November 2022, led by Bain Capital. |
| Who are Jnana Therapeutics' investors? | Jnana Therapeutics' investors include Polaris Partners, Versant Ventures, AbbVie, Avalon Ventures, Pfizer Venture Investments, RA Capital Management, Pfizer R&D Innovate and Bain Capital. |
| Which companies are comparable to Jnana Therapeutics? | Companies comparable to Jnana Therapeutics include Crystalys Therapeutics, Umoja Biopharma, Design Therapeutics, China TCM, Aclaris Therapeutics and Guizhou Sanli. |
See companies similar to Jnana Therapeutics
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.




