Nouscom Valuation, Funding & Investors

Nouscom is valued at $750M as of October 2026.

Last Nouscom valuation

$750M

Series D · Oct 2026

Last Nouscom funding round

$135M

Series D · Oct 2026

Cumulative funding Nouscom raised

$279M

across 5 funding rounds

Key investors in Nouscom

  • Versant Ventures
  • 5AM Ventures
  • Bpifrance
  • EQT
  • Andera Partners
  • M Ventures

Nouscom Overview

About Nouscom

Nouscom is a Milan-based biotech company developing viral vector vaccines for cancer immunotherapy. Its platform uses engineered adenovirus vectors expressing up to 50 tumor neoantigens to elicit broad T-cell responses. The lead candidate NOUS-209 targets KRAS-mutated colorectal and lung cancers in phase 1/2 trials with Merck KGaA. Nouscom's vectors incorporate IL-12 for enhanced potency, with manufacturing in Italy and Switzerland.


Founded

2015

HQ

SwitzerlandBasel

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Valuation

$750M (Oct 2026)

Nouscom Valuation

Nouscom is currently valued at $750M, based on its Series D in October 2026. Read the announcement ↗

The $135M round was led by M Ventures and Revelation Partners, with participation from XGEN Venture, 5AM Ventures, Indaco Venture Partners, Versant Ventures, Neva SGR and 5 other investors.

Nouscom valuation by funding round

Nouscom valuation by funding round
DateStageValuation
Oct 2026Series D$750M

Nouscom Funding History

Nouscom has raised a total of $279M across 5 funding rounds.

Nouscom's first fundraising round was a $13M Series A in May 2016. The most recent completed round was a $135M Series D in October 2026.

Nouscom funding rounds

Nouscom funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Oct 2026Series DM Ventures (lead); Revelation Partners (lead); XGEN Venture; 5AM Ventures; Indaco Venture Partners; Versant Ventures; Neva SGR; Angelini Ventures; Bpifrance; Andera Partners; European Investment Bank; Angelini Industries$135M$750MNouscom, a Basel-based clinical-stage biotechnology company, announced on 19 October 2026 the closing of an oversubscribed EUR 120 million (USD 135 million) Series D financing. M Ventures and Revelation Partners co-led the round, alongside new investors Angelini Industries (through Angelini Investments), the European Investment Bank (through Aurea, its co-investment facility with Angelini Ventures) and Neva SGR. Existing investors 5AM Ventures, Andera Partners, Angelini Ventures, Bpifrance, CDP Venture Capital, EQT Life Sciences, Indaco Venture Partners, Panakes Partners, Versant Ventures and XGEN Ventures all took part. The company said the proceeds will fund NOUS-209, an off-the-shelf neoantigen-based cancer immunotherapy, through a single global registration-enabling trial for cancer interception in Lynch Syndrome carriers, for which the FDA has granted Fast Track designation. Long-term Phase 1b/2 data were due to be presented at the ESMO Congress in Madrid. Nouscom develops neoantigen-targeted immunotherapies on a proprietary viral vector platform, and its portfolio also includes the personalised therapy NOUS-PEV. Marina Udier is chief executive.
Mar 2024Series CAngelini Ventures (lead)$8M-Nouscom is a clinical-stage immuno-oncology company based in Basel, Switzerland, developing off-the-shelf and personalized neoantigen cancer vaccines using its viral vector platform. Its pipeline includes NOUS-209, an off-the-shelf immunotherapy for MSI solid tumors in combination with pembrolizumab and in Lynch Syndrome carriers, and NOUS-PEV, a personalized immunotherapy for advanced melanoma in combination with checkpoint inhibitors. Angelini Ventures invested €7 million ($7.6 million) on March 21, 2024, extending Nouscom's oversubscribed Series C financing round, first announced in November 2023 with €67.5 million, to a total of €75.8 million ($82 million). The syndicate includes new investors Andera Partners, Bpifrance (InnoBio 2 fund), M Ventures, Revelation Partners, Indaco Venture Partners, Panakès Partners, XGen Ventures, and existing investors 5AM Ventures, EQT Life Sciences, Versant Ventures. The proceeds fund advancement of Nouscom's clinical pipeline to key proof-of-concept endpoints, including readout from the ongoing Phase 2 trial of NOUS-209 in MSI metastatic colorectal cancer, completion of Phase 1b studies for NOUS-209 in Lynch Syndrome and NOUS-PEV in melanoma, and entry into Phase 2 trials for NOUS-PEV in high unmet need indications.
Nov 2023Series CAndera Partners (lead); Bpifrance (lead); M Ventures (lead); Revelation Partners; XGEN Venture; 5AM Ventures; Panakes Partners; EQT; Indaco Venture Partners; Versant Ventures$74M-Nouscom is a clinical-stage immuno-oncology company developing off-the-shelf and personalized viral vector-based cancer vaccines targeting neoantigens. On November 14, 2023, it completed an oversubscribed Series C equity financing round raising €67.5 million ($72 million), co-led by Andera Partners, Bpifrance (through its InnoBio 2 fund), and M Ventures. Participating investors included Revelation Partners, Indaco Venture Partners, Panakès Partners, XGen Ventures, and undisclosed others, alongside continued support from existing investors 5AM Ventures, EQT Life Sciences, and Versant Ventures. Representatives from the lead investors joined the Nouscom Board of Directors concurrent with the financing. The proceeds are designated to advance and expand Nouscom’s wholly owned clinical pipeline toward key proof-of-concept milestones. This includes readout from the ongoing randomized Phase 2 trial of NOUS-209, an off-the-shelf vaccine targeting 209 shared neoantigens, combined with pembrolizumab for mismatch repair deficient/microsatellite unstable (dMMR/MSI) metastatic colorectal cancer (mCRC). Additional funds support completion of a Phase 1b study for NOUS-PEV, a personalized cancer immunotherapy, in combination with a checkpoint inhibitor for advanced melanoma, and entry into randomized Phase 2 trials in high-unmet-need indications. Nouscom has also exclusively out-licensed VAC-85135, an off-the-shelf immunotherapy, which is under evaluation in a Phase 1 trial for myeloproliferative neoplasms sponsored by Janssen Research & Development and Bristol Myers Squibb. The financing reflects strong investor confidence in Nouscom’s neoantigen platform amid a challenging biotech environment, with leadership highlighting promising clinical data and potential positioning among leading developments in cancer vaccines.
Nov 2017Series BAbingworth (lead); LSP BioVentures; 5AM Ventures; Versant Ventures$50M-Nouscom, a Basel, Switzerland-based oncology company, develops neoantigen cancer vaccines using its Exovax platform and oncolytic viruses via the Endovax platform. The company completed a €42 million Series B financing on November 6, 2017, led by new investor Abingworth, with participation from new investor 5AM Ventures and existing investors LSP and Versant Ventures. Proceeds were allocated to advance the lead program NOUS-209, an off-the-shelf neoantigen vaccine targeting Lynch Syndrome carriers for cancer prevention and microsatellite instability (MSI-H) tumors for therapy, into Phase I/II clinical studies in 2018. Nouscom also planned to progress NOUS-100-PV, a personalized neoantigen vaccine, toward clinical studies in the second half of 2018, while its third program, an oncolytic virus targeting tumor cells, remained in the discovery phase. The financing validated the Exovax platform's preclinical results, which demonstrated potent CD8 and CD4 T-cell responses and strong immunogenicity. Dr. Genghis Lloyd-Harris from Abingworth and Dr. Scott Rocklage from 5AM joined the board alongside existing members from Versant Ventures, LSP, and company leadership. CEO Dr. Alfredo Nicosia highlighted the investment's role in accelerating clinical development of Nouscom's best-in-class programs. This Series B followed a €12 million Series A in May 2017 to support discovery and early development of personalized cancer vaccines.
May 2016Series AEQT (lead); Versant Ventures$13M-Nouscom, a Basel, Switzerland-based oncology company, closed a EUR 12 million Series A financing on May 17, 2016, co-led by LSP and Versant Ventures. The funds supported discovery and development of personalized cancer vaccines and tumor-selective oncolytic viruses. The company was founded by a team previously backed by Versant at Okairos. The financing validated Nouscom's innovative platform for versatile, powerful, and scalable cancer vaccines, as noted by Versant Ventures partner Guido Magni. LSP, a Europe-based life-science investor with offices in Munich and Boston, and Versant Ventures, managing $1.9 billion with a focus on novel therapeutics, co-led the round. Versant emphasized the team's proven track record in building successful companies.

Who has invested in Nouscom?

16 investors have backed Nouscom across its funding rounds, including Versant Ventures, 5AM Ventures, Bpifrance, EQT, Andera Partners and M Ventures.

Lead investors include M Ventures, Revelation Partners, Angelini Ventures, Andera Partners, Bpifrance and 2 other investors.


Nouscom Investors

Investors in Nouscom by funding rounds participated
InvestorHQRoundsRoleFirst check
Versant VenturesUnited StatesSan Francisco, CA4ParticipantMay 2016
5AM VenturesUnited StatesUnited States3ParticipantNov 2017
Revelation PartnersUnited StatesSan Francisco, CA2LeadNov 2023
M VenturesNetherlandsAmsterdam2LeadNov 2023
XGEN VentureItalyMilan2ParticipantNov 2023
EQTSwedenStockholm2LeadMay 2016
Indaco Venture PartnersItalyMilan2ParticipantNov 2023
Angelini VenturesItalyRome2LeadMar 2024
BpifranceFranceParis2LeadNov 2023
Andera PartnersFranceParis2LeadNov 2023
LSP BioVenturesUnited StatesUnited States1ParticipantNov 2017
Panakes PartnersItalyMilan1ParticipantNov 2023
Neva SGRItalyTurin1ParticipantOct 2026

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Nouscom Competitors

Nouscom competitors include listed companies like China TCM, OmniAb, Suven Life Sciences and ArriVent BioPharma, and private ones like BrightInsight and HAR-KCY.

Public and private companies comparable to Nouscom
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
BrightInsightUnited StatesSan Francisco, CAPrivate--$750M-
HAR-KCYUnited StatesLos Angeles, CAPrivate--$750M-
China TCMChinaChinaPublicly listed$2.2B$129M$750M0.4x
OmniAbUnited StatesUnited StatesPublicly listed$19M($47M)$745M20.6x
Suven Life SciencesIndiaIndiaPublicly listed$748K($29M)$767M-
ArriVent BioPharmaUnited StatesUnited StatesPublicly listed-($178M)$733M-

Nouscom Public Comps

Nouscom is still privately-owned, but its public comps include China TCM, OmniAb, Suven Life Sciences, ArriVent BioPharma, Annexon, Sana Biotechnology, HK inno.N, Collegium Pharmaceutical, Lepu Biopharma and Sanofi India.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
China TCM$2.2B$129M0.3x0.4x5.3x7.2x
OmniAb$19M($47M)37.5x20.6x(14.8x)(23.4x)
Suven Life Sciences$748K($29M)1000.8x-(25.9x)-
ArriVent BioPharma-($178M)--(2.0x)(1.8x)
Annexon-($214M)--(2.7x)(2.6x)
Sana Biotechnology-($235M)--(2.9x)(3.8x)
HK inno.N$796M$112M1.2x1.2x8.7x7.5x
Collegium Pharmaceutical$781M$390M2.2x2.1x4.5x3.9x

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Common questions about Nouscom

When was Nouscom founded?Nouscom was founded in 2015.
Where is Nouscom headquartered?Nouscom is headquartered in Basel, Switzerland.
Is Nouscom publicly listed?No, Nouscom is a private, VC-backed company.
What is Nouscom's valuation?Nouscom was last valued at $750M in its Series D in October 2026.
How much funding has Nouscom raised?Nouscom has raised $279M across 5 funding rounds.
What was Nouscom's last funding round?Nouscom's last funding round was a $135M Series D in October 2026, led by M Ventures and Revelation Partners.
Who are Nouscom's investors?Nouscom's investors include Versant Ventures, 5AM Ventures, Revelation Partners, M Ventures, XGEN Venture, EQT, Indaco Venture Partners, Angelini Ventures, Bpifrance, Andera Partners and 6 others.
Which companies are comparable to Nouscom?Companies comparable to Nouscom include BrightInsight, HAR-KCY, China TCM, OmniAb, Suven Life Sciences and ArriVent BioPharma.

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