Palleon Pharmaceuticals Valuation, Funding & Investors

Palleon Pharmaceuticals is valued at $239M as of September 2020.

Last Palleon Pharmaceuticals valuation

$239M

Series B · Sep 2020

Last Palleon Pharmaceuticals funding round

$100M

Series B · Sep 2020

Cumulative funding Palleon Pharmaceuticals raised

$148M

across 2 funding rounds

Key investors in Palleon Pharmaceuticals

  • Pfizer Venture Investments
  • SR One
  • AbbVie
  • Takeda Ventures
  • Vertex Ventures HC
  • Vertex Ventures

Palleon Pharmaceuticals Overview

About Palleon Pharmaceuticals

Palleon Pharmaceuticals is a Waltham-based clinical-stage biotechnology company that develops glycoimmune checkpoint inhibitors targeting cancer through modulation of immunosuppressive glycans. Its EAGLE platform combines glycoscience and immunology expertise to restore antitumor immunity by blocking sialic acid ligands on tumors and immune cells. The lead candidate, E-602, completed Phase 1 trials in healthy volunteers and advanced to oncology patients in 2023. Founded in 2017, Palleon advances multimodal therapies including enzymes, antibodies, and bispecifics to address resistance in immuno-oncology. The company collaborates with global scientific leaders in glycoscience to expand its pipeline for solid tumors and hematologic malignancies.


Founded

2016

HQ

United StatesBoston, MA

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Valuation

$239M (Sep 2020)

Palleon Pharmaceuticals Valuation

Palleon Pharmaceuticals is currently valued at $239M, based on its Series B in September 2020.

The $100M round was led by Matrix Capital Management, with participation from Pfizer Venture Investments, Takeda Ventures, Vertex Ventures HC, SR One, AbbVie and 1 other investor.

Palleon Pharmaceuticals valuation by funding round

Palleon Pharmaceuticals valuation by funding round
DateStageValuation
Sep 2020Series B$239M

Palleon Pharmaceuticals Funding History

Palleon Pharmaceuticals has raised a total of $148M across 2 funding rounds.

Palleon Pharmaceuticals' first fundraising round was a $48M Series A in October 2017. The most recent completed round was a $100M Series B in September 2020.

Palleon Pharmaceuticals funding rounds

Palleon Pharmaceuticals funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Sep 2020Series BMatrix Capital Management (lead); Pfizer Venture Investments; Takeda Ventures; Vertex Ventures HC; SR One; AbbVie; Surveyor Capital$100M$239MPalleon Pharmaceuticals is a Waltham, Massachusetts-based biotech company developing drugs targeting glycan-mediated immune regulation for cancer and inflammatory diseases. Its EAGLE platform uses enzymatic sialoglycan degradation to overcome resistance in immuno-oncology, while the HYDRA platform identifies suitable cancer patients based on tumor glycan profiles. The lead program, Sialidase-Fc, was set to enter clinical trials in 2021 for patients with immunosuppressive tumor glycan profiles. The company also advances candidates targeting Siglecs and other glycan-sensing receptors for inflammatory diseases. On September 17, 2020, Palleon closed a $100 million Series B funding round led by Matrix Capital Management, with participation from Series A investors SR One, Pfizer Venture Investments, Vertex Ventures HC, and Takeda Ventures, plus new investors AbbVie Ventures and Surveyor Capital. This followed a $47.6 million Series A in 2017, bringing total funding to $147.6 million. The proceeds were allocated to advance drug candidates into human clinical trials. The round achieved a post-money valuation of USD 238.830 million. Palleon operates in the glyco-immunology space, addressing immune evasion mechanisms to improve outcomes for patients resistant to existing therapies. As of late 2021, the company had 24 employees.
Oct 2017Series ASR One (lead); Vertex Ventures; Pfizer Venture Investments; Takeda Ventures; Vertex Ventures HC; AbbVie$48M-Palleon Pharmaceuticals, founded in 2015 and launched from SR One’s Cambridge office, develops glycoimmune checkpoint inhibitors targeting sialoglycan-mediated immune evasion to overcome resistance to first-generation immuno-oncology therapies. The company’s EAGLE platform uses enzymatic sialoglycan degradation, while its HYDRA platform identifies suitable cancer patients based on tumor glycan profiles. Lead program Sialidase-Fc was advancing toward clinical trials, with additional candidates targeting Siglecs for inflammatory diseases. Palleon licensed IP from co-founders Carolyn Bertozzi (Stanford) and Paul Crocker (Dundee). On approximately April 10, 2017 (noted as October 4 in one source), Palleon raised $47.6 million in a Series A round led by SR One, with participation from Pfizer Venture Investments, Vertex Ventures HC, Takeda Ventures, and AbbVie Ventures. The funds supported platform development, product initiation, and significant headcount expansion from 15 employees. The company later raised a $100 million Series B in September 2020 led by Matrix Capital Management, with returning Series A investors including SR One, Pfizer, Vertex, Takeda, and AbbVie, plus new investor Surveyor Capital, to advance candidates into human trials.

Who has invested in Palleon Pharmaceuticals?

8 investors have backed Palleon Pharmaceuticals across its funding rounds, including Pfizer Venture Investments, SR One, AbbVie, Takeda Ventures, Vertex Ventures HC and Vertex Ventures.

Lead investors include Matrix Capital Management and SR One.


Palleon Pharmaceuticals Investors

Investors in Palleon Pharmaceuticals by funding rounds participated
InvestorHQRoundsRoleFirst check
Pfizer Venture InvestmentsUnited StatesNew York City, NY2ParticipantOct 2017
Takeda VenturesUnited StatesSan Diego, CA2ParticipantOct 2017
Vertex Ventures HCUnited StatesSan Francisco, CA2ParticipantOct 2017
SR OneUnited StatesUnited States2LeadOct 2017
AbbVieUnited StatesChicago, IL2ParticipantOct 2017
Vertex VenturesSingaporeSingapore1ParticipantOct 2017

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Palleon Pharmaceuticals Competitors

Palleon Pharmaceuticals competitors include listed companies like Panacea Biotec, Cartesian Therapeutics, ALX Oncology and Tetratherix, and private ones like Crescendo Biologics and Watchmaker Genomics.

Public and private companies comparable to Palleon Pharmaceuticals
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Panacea BiotecIndiaIndiaPublicly listed$64M$3M$238M-
Cartesian TherapeuticsUnited StatesUnited StatesPublicly listed$3M($144M)$238M139.9x
ALX OncologyUnited StatesUnited StatesPublicly listed-($103M)$241M-
Crescendo BiologicsUnited KingdomCambridgePrivate--$241M-
Watchmaker GenomicsUnited StatesBoulder, COPrivate--$242M-
TetratherixAustraliaAustraliaPublicly listed$653K($6M)$236M66.0x

Palleon Pharmaceuticals Public Comps

Palleon Pharmaceuticals is still privately-owned, but its public comps include Panacea Biotec, Cartesian Therapeutics, ALX Oncology, Tetratherix, Sai Parenteral's, Adimmune, NervGen Pharma, Whitehawk Therapeutics, Jacobson Pharma and Acepodia.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Panacea Biotec$64M$3M3.6x-80.6x-
Cartesian Therapeutics$3M($144M)55.0x139.9x(1.1x)-
ALX Oncology-($103M)--(1.1x)(1.4x)
Tetratherix$653K($6M)335.7x66.0x(35.7x)(31.9x)
Sai Parenteral's$52M$5M4.9x-46.4x-
Adimmune$44M($3M)6.3x-(84.5x)-
NervGen Pharma-($32M)--(5.8x)(10.3x)
Whitehawk Therapeutics$7M($27M)6.0x20.9x(1.6x)-

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Common questions about Palleon Pharmaceuticals

When was Palleon Pharmaceuticals founded?Palleon Pharmaceuticals was founded in 2016.
Where is Palleon Pharmaceuticals headquartered?Palleon Pharmaceuticals is headquartered in Boston, MA, United States.
Is Palleon Pharmaceuticals publicly listed?No, Palleon Pharmaceuticals is a private, VC-backed company.
What is Palleon Pharmaceuticals' valuation?Palleon Pharmaceuticals was last valued at $239M in its Series B in September 2020.
How much funding has Palleon Pharmaceuticals raised?Palleon Pharmaceuticals has raised $148M across 2 funding rounds.
What was Palleon Pharmaceuticals' last funding round?Palleon Pharmaceuticals' last funding round was a $100M Series B in September 2020, led by Matrix Capital Management.
Who are Palleon Pharmaceuticals' investors?Palleon Pharmaceuticals' investors include Pfizer Venture Investments, Takeda Ventures, Vertex Ventures HC, SR One, AbbVie, Vertex Ventures, Matrix Capital Management and Surveyor Capital.
Which companies are comparable to Palleon Pharmaceuticals?Companies comparable to Palleon Pharmaceuticals include Panacea Biotec, Cartesian Therapeutics, ALX Oncology, Crescendo Biologics, Watchmaker Genomics and Tetratherix.

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