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- NiKang Therapeutics
NiKang Therapeutics Valuation, Funding & Investors
NiKang Therapeutics is valued at $475M as of May 2021.
Last NiKang Therapeutics valuation
$475M
Series C · May 2021
Last NiKang Therapeutics funding round
$200M
Series C · May 2021
Cumulative funding NiKang Therapeutics raised
$260M
across 3 funding rounds
Key investors in NiKang Therapeutics
HBM Healthcare Investments
CBC Group
Matrix Partners China
Cormorant Asset Management
Lilly Asia Ventures
Casdin Capital
About NiKang Therapeutics
NiKang Therapeutics is a Bellevue-headquartered clinical-stage biopharmaceutical company. It develops small-molecule therapeutics targeting previously undruggable cancer pathways using structure-based drug design. The pipeline features NKTR-255, a first-in-class IL-15 agonist fusion protein in Phase 1 trials for solid tumors, and preclinical assets for immuno-oncology. NiKang initiated operations in 2018 and maintains research facilities in China.
Founded
2017
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Licensing
Valuation
$475M (May 2021)
Sectors
NiKang Therapeutics Valuation
NiKang Therapeutics is currently valued at $475M, based on its Series C in May 2021.
The $200M round was led by Cormorant Asset Management, HBM Healthcare Investments and Octagon Capital Advisors.
NiKang Therapeutics valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| May 2021 | Series C | $475M |
NiKang Therapeutics Funding History
NiKang Therapeutics has raised a total of $260M across 3 funding rounds.
NiKang Therapeutics' first fundraising round was a $10M Series A in December 2017. The most recent completed round was a $200M Series C in May 2021.
NiKang Therapeutics funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| May 2021 | Series C | Cormorant Asset Management (lead); HBM Healthcare Investments (lead); Octagon Capital Advisors (lead) | $200M | $475M | NiKang Therapeutics is a clinical-stage biotechnology company developing innovative small molecule oncology medicines targeting difficult-to-drug proteins to address unmet medical needs in cancer patients. The company announced the completion of an oversubscribed $200 million Series C financing on May 26, 2021, led by Cormorant Asset Management, HBM Healthcare Investments, and Octagon Capital Advisors, with participation from existing and new investors including EcoR1 Capital, Perceptive Advisors, Wellington Management, Ally Bridge Group, Pavilion Capital, CBC Group, RTW Investments, Lilly Asia Ventures, Matrix Partners China, Casdin Capital, BlackRock, Janus Henderson Investors, Logos Capital, MPC, PFM Health Sciences, Samsara BioCapital, and Surveyor Capital. As part of the round, Viela Bio former CEO and chairman Bing Yao and Octagon Capital Advisors founder and chief investment officer Ting Jia joined NiKang's board of directors. Proceeds from the $200 million raise are designated to advance NiKang's lead drug candidates into clinical development, expand its pipeline, and support internal drug discovery programs, with a focus on highly differentiated small molecules such as a HIF-2 alpha inhibitor. One source reports a Series C valuation of $475.12 million for this May 2021 round. The financing underscores investor confidence in NiKang's science and team, positioning the company to rapidly progress its pipeline into the clinic. NiKang has continued advancing its portfolio post-funding, including completing dosing of the first cohort in Phase 1 studies for NKT5097 (CDK2/4 dual degrader) and NKT3964 (CDK2 degrader), and dosing the first patient in a Phase 1b/2 study of NKT2152 combined with standard-of-care for first-line hepatocellular carcinoma. |
| Sep 2020 | Series B | RTW Investments (lead); Matrix Partners China; CBC Group; HBM Healthcare Investments; Casdin Capital; Octagon Investments; Lilly Asia Ventures | $50M | - | NiKang Therapeutics is a US-based privately held biotechnology company focused on discovering and developing innovative small molecule oncology medicines using structure-based design against promising molecular targets. The company completed a $50 million Series B financing round on September 14, 2020, led by RTW Investments, LP, with participation from Casdin Capital, CBC Group, HBM Healthcare Investments, Lilly Asia Ventures, Matrix Partners China, and Octagon Investments. Roderick Wong, MD, managing partner and chief investment officer of RTW Investments, joined NiKang’s board of directors upon completion of the round. NiKang was at a preclinical stage as of September 2020. Subsequently, NiKang raised a $200 million Series C round in May 2021, with participation from existing investors including RTW Investments, CBC Group, HBM Healthcare Investments, Lilly Asia Ventures, Matrix Partners China, Casdin Capital, and Octagon Capital, plus new investors like Cormorant Asset Management and others. The company continued advancing lead drug candidates toward the clinic and expanding its pipeline. |
| Dec 2017 | Series A | CBC Group (lead) | $10M | - | NiKang Therapeutics raised $10 million around November 30, 2017, matching the investor CBC Group. The company, founded in 2017 and incubated by CBC Group, develops small molecule oncology medicines targeting unmet medical needs in cancer patients. Subsequent rounds included a $50 million Series B and a $200 million Series C in May 2021 led by Cormorant Asset Management, HBM Healthcare Investments, and Octagon Capital Advisors, with participation from CBC Group and others, bringing total funding to $250-260 million across rounds. |
Who has invested in NiKang Therapeutics?
9 investors have backed NiKang Therapeutics across its funding rounds, including HBM Healthcare Investments, CBC Group, Matrix Partners China, Cormorant Asset Management, Lilly Asia Ventures and Casdin Capital.
Lead investors include Cormorant Asset Management, HBM Healthcare Investments, Octagon Capital Advisors, RTW Investments and CBC Group.
NiKang Therapeutics Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Dec 2017 | ||
| 2 | Lead | Sep 2020 | ||
| 1 | Participant | Sep 2020 | ||
| 1 | Lead | Sep 2020 | ||
| 1 | Participant | Sep 2020 | ||
| 1 | Lead | May 2021 | ||
| 1 | Participant | Sep 2020 | ||
This data is available for Pro users. Sign up to see all 9 NiKang 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 TrialNiKang Therapeutics Competitors
NiKang Therapeutics competitors include listed companies like Synmosa Biopharma, Blau Farmacêutica, YungShin Global Holding and Qyuns Therapeutics, and private ones like Corxel Pharmaceuticals and Yantai Lannacheng Biotechnology.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $194M | $37M | $474M | 2.6x | ||
| Private | - | - | $474M | - | ||
| Publicly listed | $331M | $94M | $474M | 1.3x | ||
| Publicly listed | $263M | $49M | $473M | - | ||
| Private | $2M | - | $477M | - | ||
| Publicly listed | $120M | $52M | $471M | 3.6x |
NiKang Therapeutics Public Comps
NiKang Therapeutics is still privately-owned, but its public comps include Synmosa Biopharma, Blau Farmacêutica, YungShin Global Holding, PKU Healthcare, Qyuns Therapeutics, Arcturus Therapeutics, Hyundai Bioscience, Eikon Therapeutics, TransThera Sciences and SanBio.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $194M | $37M | 2.7x | 2.6x | 14.3x | - | |||
| $331M | $94M | 1.4x | 1.3x | 5.0x | 5.2x | |||
| $263M | $49M | 1.7x | - | 9.0x | - | |||
| $221M | $23M | 1.5x | - | 14.5x | - | |||
| $120M | $52M | 3.5x | 3.6x | 8.0x | 8.1x | |||
| $67M | ($73M) | 4.7x | 8.7x | (4.3x) | (3.4x) | |||
| $3M | ($14M) | 177.1x | - | (31.6x) | - | |||
| - | ($315M) | - | - | (0.6x) | (0.5x) | |||
This data is available for Pro users. Sign up to see all NiKang Therapeutics competitors and their valuation data. Start Free Trial | ||||||||
Common questions about NiKang Therapeutics
| When was NiKang Therapeutics founded? | NiKang Therapeutics was founded in 2017. |
| Where is NiKang Therapeutics headquartered? | NiKang Therapeutics is headquartered in Wilmington, DE, United States. |
| Is NiKang Therapeutics publicly listed? | No, NiKang Therapeutics is a private, VC-backed company. |
| What is NiKang Therapeutics' valuation? | NiKang Therapeutics was last valued at $475M in its Series C in May 2021. |
| How much funding has NiKang Therapeutics raised? | NiKang Therapeutics has raised $260M across 3 funding rounds. |
| What was NiKang Therapeutics' last funding round? | NiKang Therapeutics' last funding round was a $200M Series C in May 2021, led by Cormorant Asset Management, HBM Healthcare Investments and Octagon Capital Advisors. |
| Who are NiKang Therapeutics' investors? | NiKang Therapeutics' investors include CBC Group, HBM Healthcare Investments, Matrix Partners China, RTW Investments, Casdin Capital, Octagon Capital Advisors, Octagon Investments, Lilly Asia Ventures and Cormorant Asset Management. |
| Which companies are comparable to NiKang Therapeutics? | Companies comparable to NiKang Therapeutics include Synmosa Biopharma, Corxel Pharmaceuticals, Blau Farmacêutica, YungShin Global Holding, Yantai Lannacheng Biotechnology and Qyuns Therapeutics. |
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