- Companies
- Palleon Pharmaceuticals
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
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
Website
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Valuation
$239M (Sep 2020)
Sectors
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
| Date | Stage | Valuation |
|---|---|---|
| Sep 2020 | Series 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
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Sep 2020 | Series B | Matrix Capital Management (lead); Pfizer Venture Investments; Takeda Ventures; Vertex Ventures HC; SR One; AbbVie; Surveyor Capital | $100M | $239M | Palleon 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 2017 | Series A | SR 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
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Participant | Oct 2017 | ||
| 2 | Participant | Oct 2017 | ||
| 2 | Participant | Oct 2017 | ||
| 2 | Lead | Oct 2017 | ||
| 2 | Participant | Oct 2017 | ||
| 1 | Participant | Oct 2017 | ||
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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 TrialPalleon 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.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $64M | $3M | $238M | - | ||
| Publicly listed | $3M | ($144M) | $238M | 139.9x | ||
| Publicly listed | - | ($103M) | $241M | - | ||
| Private | - | - | $241M | - | ||
| Private | - | - | $242M | - | ||
| Publicly listed | $653K | ($6M) | $236M | 66.0x |
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 FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $64M | $3M | 3.6x | - | 80.6x | - | |||
| $3M | ($144M) | 55.0x | 139.9x | (1.1x) | - | |||
| - | ($103M) | - | - | (1.1x) | (1.4x) | |||
| $653K | ($6M) | 335.7x | 66.0x | (35.7x) | (31.9x) | |||
| $52M | $5M | 4.9x | - | 46.4x | - | |||
| $44M | ($3M) | 6.3x | - | (84.5x) | - | |||
| - | ($32M) | - | - | (5.8x) | (10.3x) | |||
| $7M | ($27M) | 6.0x | 20.9x | (1.6x) | - | |||
This data is available for Pro users. Sign up to see all Palleon Pharmaceuticals competitors and their valuation data. Start Free Trial | ||||||||
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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