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- Neuron23
Neuron23 Valuation, Funding & Investors
Neuron23 is valued at $272M as of June 2025.
Last Neuron23 valuation
$272M
Series D · Jun 2025
Last Neuron23 funding round
$97M
Series D · Jun 2025
Cumulative funding Neuron23 raised
$310M
across 4 funding rounds
Key investors in Neuron23
Kleiner Perkins
Westlake Village BioPartners
HBM Healthcare Investments
Redmile Group
Acorn Bioventures
SoftBank Group
About Neuron23
Neuron23 is a San Francisco-based biopharmaceutical company developing small-molecule drugs for neurodegenerative disorders. Its lead candidate N23PD targets protein aggregation in Parkinson's disease through novel kinase inhibition. Founded in 2018, Neuron23 advances programs for Alzheimer's with preclinical data presented at Society for Neuroscience meetings. The firm collaborates with academic labs for assay development.
Founded
2018
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Valuation
$272M (Jun 2025)
Sectors
Neuron23 Valuation
Neuron23 is currently valued at $272M, based on its Series D in June 2025.
The $97M round included Blue Owl Capital Inc., Kleiner Perkins, Redmile Group, SoftBank Group, HBM Healthcare Investments and 2 other investors.
Neuron23's valuation has moved from $290M at its Series B in December 2020 to $272M in June 2025, across 2 priced rounds.
Neuron23 valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jun 2025 | Series D | $272M |
| Dec 2020 | Series B | $290M |
Neuron23 Funding History
Neuron23 has raised a total of $310M across 4 funding rounds.
Neuron23's first fundraising round was a $80M Series B in December 2020. The most recent completed round was a $97M Series D in June 2025.
Neuron23 funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jun 2025 | Series D | Blue Owl Capital Inc.; Kleiner Perkins; Redmile Group; SoftBank Group; HBM Healthcare Investments; Acorn Bioventures; Westlake Village BioPartners | $97M | $272M | Neuron23 is a clinical-stage biotechnology company founded in 2018 and based in South San Francisco, California, developing precision medicines for genetically defined neurological and immunological diseases, including neurodegenerative, neuroinflammatory, and systemic autoimmune conditions. The company employs advanced human genetics, machine learning, artificial intelligence, and a biomarker platform for drug discovery. Its lead candidate, NEU-411, is a brain-penetrant, potent, and selective LRRK2 inhibitor for early Parkinson’s disease, with the first patient dosed in the global Phase 2 NEULARK clinical trial announced alongside the funding. On June 24, 2025, Neuron23 closed a $96.5 million Series D financing round led by an unnamed healthcare investor, with participation from Westlake Village BioPartners, SoftBank Vision Fund 2, Redmile Group, Blue Owl, Kleiner Perkins, HBM Healthcare Investments (Cayman) Ltd., and Acorn Bioventures. This brings total funding to $310 million. The proceeds support advancement of NEU-411 and the company's precision medicine approach to improve clinical success by targeting genetically defined patient populations. The company has approximately 54-83 employees and continues to build its pipeline in high-unmet-need areas like Parkinson’s disease. |
| Mar 2022 | Series C | SoftBank Group (lead); Kleiner Perkins; Cowen Healthcare Investments; Redmile Group; HBM Healthcare Investments; HBM Partners; Acorn Bioventures; Westlake Village BioPartners; Surveyor Capital; Perceptive Advisors | $100M | - | Neuron23 Inc. is an early-stage biotechnology company based in South San Francisco, California, focused on developing precision medicines for genetically defined neurological and immunological diseases. The company leverages genetic and artificial intelligence technologies to create therapeutics targeting neurodegenerative, neuroinflammatory, and systemic autoimmune conditions, with lead programs against leucine-rich repeat kinase 2 (LRRK2), associated with Parkinson's disease and systemic inflammatory diseases, and tyrosine kinase 2 (TYK2), involved in pathological immune signaling. On March 30, 2022, Neuron23 closed a $100 million Series C financing round led by SoftBank Vision Fund 2, with participation from existing investors including Acorn Bioventures, Cowen Healthcare Investments, HBM Healthcare Investments, HBM Partners, Kleiner Perkins, Perceptive Advisors, Redmile Group, Surveyor Capital, and Westlake Village BioPartners. This brought the company's total financing raised to date to $213.5 million. Previously, Neuron23 emerged from stealth in late 2020 with nearly $114 million across Series A and Series B rounds, led by Kleiner Perkins and Westlake Village BioPartners for Series A ($33.5 million), followed by a Redmile Group-led Series B. Proceeds from the Series C round were allocated to advance the LRRK2 and TYK2 programs, nominate a clinical candidate for Parkinson's disease expected by the end of 2022, expand the clinical development team, and enhance the precision neuroimmunology platform and data sciences capabilities. CEO Nancy Stagliano emphasized the round's endorsement of Neuron23's precision neurology approach, utilizing machine learning to identify responsive patients and improve clinical success rates. Valentin Barsan, M.D., and Jim Scopa joined the board following the financing. In a later development, Neuron23 closed a $96.5 million Series D financing on June 24, 2025, led by a healthcare investor with support from existing backers, coinciding with the first patient dosing in the Phase 2 NEULARK trial of NEU-411, an LRRK2 inhibitor for early Parkinson's disease. |
| Dec 2020 | Series A | Kleiner Perkins (lead); Westlake Village BioPartners (lead) | $34M | - | Neuron23 is an early-stage biotechnology company founded in October 2018, focused on developing precision medicines for genetically defined neurological and immunological diseases, leveraging advances in human genetics, AI-enabled drug discovery, and biomarker platforms to target conditions like Parkinson's disease, multiple sclerosis, and systemic autoimmune diseases. The company emerged from stealth mode with a combined $113.5 million Series A and B financing announced on December 16, 2020, comprising a $33.5 million Series A led by Westlake Village BioPartners and Kleiner Perkins, followed by an $80 million Series B led by Redmile Group. Proceeds are designated to accelerate pipeline development and expand AI-driven drug discovery and biomarker capabilities in partnership with Origenis GmbH, which provides high-throughput identification of potent, selective, brain-penetrant molecules. Leadership includes CEO and Board Chair Nancy Stagliano, PhD, with prior experience at True North Therapeutics, iPierian, and CytomX Therapeutics, alongside co-founder and Chief Business Officer Adam Knight, PhD. The investor syndicate features blue-chip firms recognizing Neuron23's potential to revolutionize treatment of genetically defined diseases through integrated expertise in neuroscience, AI, genetics, and medicinal chemistry. Board members added in connection with the rounds include Beth Seidenberg (Westlake Village BioPartners and Kleiner Perkins), Amrit Nagpal (Redmile Group), Kevin Raidy (Cowen Healthcare Investments), and Michael Almstetter (Origenis). Subsequent funding brought total capital to $310 million across four rounds, including a $96.5 million Series D in June 2025 from investors like Kleiner Perkins, TD Securities, and Citadel, supporting ongoing advancements such as Phase 1 trials for brain-penetrant LRRK2 inhibitor NEU-723 and Phase 2 NEULARK trial of NEU-411 using Roche's digital biomarker for Parkinson's. Products mentioned include NEU-411 and NEU-111, operating in a competitive biotech landscape with peers like Owkin, Formation Bio, and AbSci. |
| Dec 2020 | Series B | Redmile Group (lead); Kleiner Perkins; Cowen Healthcare Investments; HBM Healthcare Investments; HBM Partners; Acorn Bioventures; Westlake Village BioPartners; Surveyor Capital; Perceptive Advisors | $80M | $290M | Neuron23 is an early-stage biotechnology company based in South San Francisco, California, focused on developing precision medicines for genetically defined neurological and immunological diseases, including Parkinson's disease, multiple sclerosis, and systemic autoimmune conditions like Crohn's disease. The company leverages artificial intelligence (AI)-enabled drug discovery and biomarker platforms, in partnership with Germany's Origenis, to identify brain-penetrant small molecules targeting kinases such as LRRK2 and TYK2, which are implicated in both CNS and peripheral diseases. Founded through this collaboration, Neuron23 operated in stealth mode since around October 2018 before publicly launching on December 16, 2020. On December 16, 2020, Neuron23 announced a combined $113.5 million Series A and B financing, comprising $33.5 million in Series A from Westlake Village BioPartners and Kleiner Perkins, and $80 million Series B led by Redmile Group. Additional Series B investors included Acorn Bioventures, Cowen Healthcare Investments, HBM Healthcare Investments, HBM Partners, Perceptive Advisors, Redmile Group, Surveyor Capital (a Citadel company), and Westlake Village BioPartners. The post-money valuation for the Series B was $290.27 million at a $2.86 share price. Leadership includes CEO and Board Chair Nancy Stagliano, PhD, with board members from key investors and Origenis. Proceeds will accelerate pipeline development, advancing two to three preclinical candidates into clinical trials within 24 months, expanding AI and genetics platforms for patient stratification, and supporting talent recruitment, technology, and IP. Programs target LRRK2 inhibitors for brain-penetrant CNS applications and non-brain-penetrant versions for systemic diseases, creating multiple indications per product. The financing reflects strong investor confidence in Neuron23's integrated approach combining AI, human genetics, and medicinal chemistry from experienced teams. |
Who has invested in Neuron23?
11 investors have backed Neuron23 across its funding rounds, including Kleiner Perkins, Westlake Village BioPartners, HBM Healthcare Investments, Redmile Group, Acorn Bioventures and SoftBank Group.
Lead investors include SoftBank Group, Kleiner Perkins, Westlake Village BioPartners and Redmile Group.
Neuron23 Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Dec 2020 | ||
| 4 | Lead | Dec 2020 | ||
| 3 | Lead | Dec 2020 | ||
| 3 | Participant | Dec 2020 | ||
| 3 | Participant | Dec 2020 | ||
| 2 | Participant | Dec 2020 | ||
| 2 | Lead | Mar 2022 | ||
| 2 | Participant | Dec 2020 | ||
| 2 | Participant | Dec 2020 | ||
This data is available for Pro users. Sign up to see all 11 Neuron23 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 TrialNeuron23 Competitors
Neuron23 competitors include listed companies like Ourofino, Cue Biopharma, Greenwich LifeSciences and Newron Pharmaceuticals, and private ones like Convergent Therapeutics and HebeCell.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $238M | $56M | $272M | - | ||
| Publicly listed | $27M | ($23M) | $273M | 13.1x | ||
| Publicly listed | - | ($19M) | $271M | - | ||
| Publicly listed | $22M | ($10M) | $270M | 19.0x | ||
| Private | - | - | $269M | - | ||
| Private | - | - | $268M | - |
Neuron23 Public Comps
Neuron23 is still privately-owned, but its public comps include Ourofino, Cue Biopharma, Greenwich LifeSciences, Newron Pharmaceuticals, Elite Pharmaceuticals, Entrada Therapeutics, Transgene, Duopharma Biotech, AC Immune and ProQR Therapeutics.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $238M | $56M | 1.3x | - | 5.3x | - | |||
| $27M | ($23M) | 9.4x | 13.1x | (11.2x) | - | |||
| - | ($19M) | - | - | (13.5x) | - | |||
| $22M | ($10M) | 12.7x | 19.0x | (29.3x) | (55.0x) | |||
| $149M | $59M | 1.6x | - | 4.0x | - | |||
| $25M | ($154M) | 3.7x | 6.3x | (0.6x) | (0.6x) | |||
| $564K | ($40M) | 261.2x | 17.1x | (3.7x) | (3.4x) | |||
| $228M | $44M | 1.4x | 1.4x | 7.6x | 6.9x | |||
This data is available for Pro users. Sign up to see all Neuron23 competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Neuron23
| When was Neuron23 founded? | Neuron23 was founded in 2018. |
| Where is Neuron23 headquartered? | Neuron23 is headquartered in San Francisco, CA, United States. |
| Is Neuron23 publicly listed? | No, Neuron23 is a private, VC-backed company. |
| What is Neuron23's valuation? | Neuron23 was last valued at $272M in its Series D in June 2025. |
| How much funding has Neuron23 raised? | Neuron23 has raised $310M across 4 funding rounds. |
| What was Neuron23's last funding round? | Neuron23's last funding round was a $97M Series D in June 2025. |
| Who are Neuron23's investors? | Neuron23's investors include Kleiner Perkins, Westlake Village BioPartners, Redmile Group, HBM Healthcare Investments, Acorn Bioventures, Cowen Healthcare Investments, SoftBank Group, HBM Partners, Surveyor Capital, Perceptive Advisors and 1 other. |
| Which companies are comparable to Neuron23? | Companies comparable to Neuron23 include Ourofino, Cue Biopharma, Greenwich LifeSciences, Newron Pharmaceuticals, Convergent Therapeutics and HebeCell. |
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