Kumquat Biosciences Valuation, Funding & Investors

Kumquat Biosciences is valued at $337M as of February 2021.

Last Kumquat Biosciences valuation

$337M

Undisclosed stage · Feb 2021

Last Kumquat Biosciences funding round

$70M

Strategic investment · Jul 2021

Cumulative funding Kumquat Biosciences raised

$176M

across 3 funding rounds

Key investors in Kumquat Biosciences

  • Loxo Oncology

Kumquat Biosciences Overview

About Kumquat Biosciences

Kumquat Biosciences is a San Diego-headquartered biopharmaceutical company advancing targeted cancer therapies through small-molecule inhibitors. Its pipeline targets KRAS mutations and DNA damage response pathways, with lead candidates entering Phase I trials for solid tumors. The firm leverages structure-based drug design and proprietary assays to develop orally bioavailable compounds. Kumquat Biosciences collaborates with academic institutions in California, focusing on precision oncology for lung, pancreatic, and colorectal cancers.


Founded

2018

HQ

United StatesSan Diego, CA

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Valuation

$337M (Feb 2021)

Kumquat Biosciences Valuation

Kumquat Biosciences is currently valued at $337M, based on its undisclosed-stage round in February 2021.

Kumquat Biosciences valuation by funding round

Kumquat Biosciences valuation by funding round
DateStageValuation
Feb 2021Undisclosed stage$337M

Kumquat Biosciences Funding History

Kumquat Biosciences has raised a total of $176M across 3 funding rounds.

Kumquat Biosciences' first fundraising round was a $56M undisclosed-stage round in July 2019. The most recent completed round was a $70M strategic investment round in July 2021.

Kumquat Biosciences funding rounds

Kumquat Biosciences funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jul 2021Strategic investmentLoxo Oncology (lead)$70M-Kumquat Biosciences, a San Diego-based biotech launched in 2019, develops a novel small molecule immuno-oncology platform to discover drugs stimulating tumor-specific immune responses. Kumquat had previously raised more than $100 million from investors including OrbiMed and Lilly Ventures Asia. In July 2021, Loxo Oncology (a division of Eli Lilly) entered an exclusive collaboration with Kumquat, announced around July 29-30, 2021, valued at more than $2 billion in potential milestone payments plus royalties. Eli Lilly paid $70 million upfront, consisting of cash and equity, to harness Kumquat's platform for novel clinical candidates, with Lilly holding options to select assets for further development. Subsequent partnerships highlight Kumquat's trajectory: a $1.2 billion deal with Takeda prior to 2023 and a up-to-$1.3 billion collaboration with Bayer for KRAS G12D inhibitor development, announced around mid-2022.
Feb 2021Undisclosed stage-$50M$337MKumquat Biosciences is a clinical-stage biotech company founded in 2018 by KRAS pathway pioneers, focusing on developing small molecule inhibitors for KRAS mutations, particularly for oncology indications like pancreatic, lung, and colorectal cancers. The company has built a platform advancing novel therapies targeting challenging KRAS mutants beyond G12C, such as G12D. On February 5, 2021, Kumquat closed its Series A-1 funding round, raising $50 million at a post-money valuation of $337.26 million, with price per share at $8.26 and approximately 6 million shares outstanding. This followed an initial Series A round in July 2019 raising $55.92 million at $93.2 million post-money valuation. A subsequent Series A-2 round occurred on July 28, 2021, raising $30 million at $494.98 million post-money. Total funding across rounds reached around $136 million by mid-2021. The company demonstrated strong traction through multiple collaborations and milestones. It previously partnered with Eli Lilly and Takeda. In July 2025, it secured FDA IND clearance for its KRAS G12D inhibitor and entered a major global license deal with Bayer, potentially worth up to $1.3 billion in payments plus royalties, with Kumquat handling Phase 1a and Bayer taking over later development. Kumquat retains a US profit-sharing option. Investors include OrbiMed, HSG Ventures, EcoR1 Capital, Lilly Asia Ventures, Roche Venture Fund, Boxer Capital, and later Sequoia Capital. Kumquat continues advancing its pipeline, leveraging partnerships for clinical acceleration and long-term growth in precision oncology.
Jul 2019Undisclosed stage-$56M-Kumquat Biosciences is a San Diego-based biotechnology company founded in 2019 that specializes in developing novel cancer therapies targeting the KRAS pathway. The company focuses on enhancing treatment efficacy through innovative drug design and immune system stimulation, with plans to develop both single and combination oncology treatments targeting challenging cancer pathways. The earliest documented funding event is a Series A round on February 5, 2021, in which the company raised $50 million USD, resulting in a post-money valuation of $304.89 million USD. In 2024, Japan's Takeda Pharmaceutical announced a $1.2 billion deal with Kumquat Biosciences, representing a significant commercial milestone for the company's cancer therapy platform.

Who has invested in Kumquat Biosciences?

1 investor has backed Kumquat Biosciences across its funding rounds, including Loxo Oncology.

Lead investors include Loxo Oncology.


Kumquat Biosciences Investors

Investors in Kumquat Biosciences by funding rounds participated
InvestorHQRoundsRoleFirst check

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Kumquat Biosciences Competitors

Kumquat Biosciences competitors include listed companies like Evommune, Century Therapeutics and Compass Therapeutics, and private ones like AgNovos Bioscience, Vivet Therapeutics and Vanqua Bio.

Public and private companies comparable to Kumquat Biosciences
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
AgNovos BioscienceUnited StatesNew York City, NYPrivate--$338M-
Vivet TherapeuticsFranceParisPrivate--$340M-
EvommuneUnited StatesUnited StatesPublicly listed$13M($71M)$340M39.8x
Century TherapeuticsUnited StatesUnited StatesPublicly listed$109M($4M)$340M8.3x
Compass TherapeuticsUnited StatesUnited StatesPublicly listed-($73M)$333M-
Vanqua BioUnited StatesChicago, ILPrivate--$333M-

Kumquat Biosciences Public Comps

Kumquat Biosciences is still privately-owned, but its public comps include Evommune, Century Therapeutics, Compass Therapeutics, Ildong Pharmaceutical, Luzhu Biotech, Lexeo Therapeutics, EyePoint, Julphar, X4 Pharmaceuticals and Agenus.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Evommune$13M($71M)11.3x39.8x(2.1x)(1.4x)
Century Therapeutics$109M($4M)2.4x8.3x(66.6x)-
Compass Therapeutics-($73M)--(2.2x)(1.8x)
Ildong Pharmaceutical$413M$48M0.9x0.9x7.9x-
Luzhu Biotech-($17M)-771.9x(19.8x)(20.5x)
Lexeo Therapeutics-($104M)--(1.3x)(1.2x)
EyePoint$31M($241M)5.9x18.1x(0.8x)(0.6x)
Julphar$293M$34M1.1x1.0x9.0x6.9x

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Common questions about Kumquat Biosciences

When was Kumquat Biosciences founded?Kumquat Biosciences was founded in 2018.
Where is Kumquat Biosciences headquartered?Kumquat Biosciences is headquartered in San Diego, CA, United States.
Is Kumquat Biosciences publicly listed?No, Kumquat Biosciences is a private, VC-backed company.
What is Kumquat Biosciences' valuation?Kumquat Biosciences was last valued at $337M in its undisclosed-stage round in February 2021.
How much funding has Kumquat Biosciences raised?Kumquat Biosciences has raised $176M across 3 funding rounds.
What was Kumquat Biosciences' last funding round?Kumquat Biosciences' last funding round was a $70M strategic investment round in July 2021, led by Loxo Oncology.
Who are Kumquat Biosciences' investors?Kumquat Biosciences' investors include Loxo Oncology.
Which companies are comparable to Kumquat Biosciences?Companies comparable to Kumquat Biosciences include AgNovos Bioscience, Vivet Therapeutics, Evommune, Century Therapeutics, Compass Therapeutics and Vanqua Bio.

See companies similar to Kumquat Biosciences

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