About Kadmon
Kadmon is a New York-headquartered biopharmaceutical company developing therapies in immunology, fibrosis, and oncology. Its portfolio includes ROCK inhibitors like KD025 for chronic graft-versus-host disease and belumosudil for autoimmune conditions. Acquired by Sanofi in 2021, it maintains research sites in Warrendale, Pennsylvania, and Boston, Massachusetts, stemming from its 2009 incorporation.
Founded
2009
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Product sales
Valuation
$1.9B (acquired Sep 2021)
Sectors
Kadmon Acquisition
Kadmon was acquired by Sanofi for $1.9B on 8 September 2021.
Before the acquisition Kadmon had raised $86M across 2 funding rounds.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 8 Sep 2021 | Strategic M&A | $1.9B |
Kadmon Funding History
Kadmon has raised a total of $86M across 2 funding rounds.
Kadmon's first fundraising round was a $6M Series A in August 2014. The most recent completed round was a $80M undisclosed-stage round in September 2017.
Kadmon funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Sep 2017 | Undisclosed stage | Vivo Capital (lead); RA Capital Management (lead); Acuta Capital Partners (lead) | $80M | Kadmon Holdings sold common stock and warrants in a pair of public offerings priced in September 2017, and Vivo Capital was among the lead investors. The offerings were 24,000,000 shares with accompanying warrants over 9,600,000 shares at a combined $3.00 per share and warrant, split between an underwritten offering and a registered direct offering to institutional investors. Gross proceeds were first expected at $72.0 million and reached approximately $80.4 million once the underwriters exercised their option in full. Each warrant covers 0.40 of a share at $3.35 per whole share and runs to September 2022. Kadmon's closing release said the financing was led by RA Capital Management, Vivo Capital and Acuta Capital, among others. Proceeds were earmarked for preclinical and clinical development, including KD025, a ROCK inhibitor in Phase 2 studies in autoimmune and fibrotic disease. Kadmon is a New York biopharmaceutical company founded in 2009 that developed small-molecule and biologic therapies and was later acquired by Sanofi. |
| Aug 2014 | Series A | - | $6M | Kadmon is a biotechnology company focused on developing treatments for various diseases, including hepatitis C through marketed products like ribavirin. By 2012, Kadmon had reached $25 million in annual revenue and targeted $40 million to $60 million in 2013. For the year ended December 31, 2014, Kadmon Pharmaceuticals reported sales of $63.5 million, which declined to $29.3 million in 2015 due to evolving treatment landscapes with new direct-acting antivirals. The company had raised significant prior capital, with over $675 million spent from inception through Q1 of the IPO year, leaving $8.6 million in cash and a $32.8 million net loss for that quarter. Major investors included Golden Tree Asset Management, Third Point Ventures, and 3RP Holdings. Kadmon generated sufficient revenue from commercial operations to support debt servicing during 2014 and 2015. |
Who has invested in Kadmon?
3 investors have backed Kadmon across its funding rounds, including RA Capital Management, Vivo Capital and Acuta Capital Partners.
Lead investors include Vivo Capital, RA Capital Management and Acuta Capital Partners.
Kadmon Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Lead | Sep 2017 | ||
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Start Free TrialKadmon Competitors
Kadmon competitors include listed companies like Maze Therapeutics, Pfizer India, Sarepta Therapeutics and Zenas BioPharma, and private ones like ArsenalBio and BioRay Pharmaceuticals.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1.9B | - | ||
| Private | $131M | - | $1.9B | 14.5x | ||
| Publicly listed | - | ($140M) | $1.9B | 90.3x | ||
| Publicly listed | $268M | $92M | $1.9B | 5.7x | ||
| Publicly listed | $2.2B | ($656M) | $1.9B | 1.1x | ||
| Publicly listed | $10M | ($383M) | $1.9B | 109.7x |
Kadmon Public Comps
Kadmon is no longer listed, but its public comps include Maze Therapeutics, Pfizer India, Sarepta Therapeutics, Zenas BioPharma, Kalbe Farma, Hepalink, Caplin Point Laboratories, Alivus Life Sciences, Harmony Biosciences and OneSource Specialty.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| - | ($140M) | - | 90.3x | (11.0x) | (9.0x) | |||
| $268M | $92M | 5.9x | 5.7x | 17.0x | 15.7x | |||
| $2.2B | ($656M) | 0.9x | 1.1x | (3.2x) | 7.0x | |||
| $10M | ($383M) | 191.7x | 109.7x | (5.0x) | (5.4x) | |||
| $1.9B | $299M | 0.9x | 0.8x | 5.6x | 5.5x | |||
| $822M | $121M | 2.1x | 2.2x | 14.0x | 13.1x | |||
| $231M | $86M | 7.9x | 7.3x | 21.2x | 20.7x | |||
| $266M | $88M | 6.9x | 6.3x | 20.8x | 18.8x | |||
This data is available for Pro users. Sign up to see all Kadmon competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Kadmon
| When was Kadmon founded? | Kadmon was founded in 2009. |
| Where is Kadmon headquartered? | Kadmon is headquartered in New York City, NY, United States. |
| Is Kadmon publicly listed? | No, Kadmon was acquired by Sanofi in September 2021. |
| Who acquired Kadmon? | Kadmon was acquired by Sanofi in September 2021. |
| How much was Kadmon acquired for? | Kadmon was acquired for $1.9B in September 2021. |
| How much funding has Kadmon raised? | Kadmon has raised $86M across 2 funding rounds. |
| What was Kadmon's last funding round? | Kadmon's last funding round was a $80M undisclosed-stage round in September 2017, led by Vivo Capital, RA Capital Management and Acuta Capital Partners. |
| Who are Kadmon's investors? | Kadmon's investors include Vivo Capital, RA Capital Management and Acuta Capital Partners. |
| Which companies are comparable to Kadmon? | Companies comparable to Kadmon include ArsenalBio, BioRay Pharmaceuticals, Maze Therapeutics, Pfizer India, Sarepta Therapeutics and Zenas BioPharma. |
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