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- Sierra Oncology
Sierra Oncology Acquisition, Valuation, Funding & Investors
Sierra Oncology was acquired by GSK for $1.9B in April 2022.
Cumulative funding Sierra Oncology raised
$72M
across 2 funding rounds
Key investors in Sierra Oncology
Capital Midwest Fund
OrbiMed
RA Capital Management
Vivo Capital
Frazier Healthcare Partners
Janus Capital Group
Hopen Life Science Ventures
The Amherst Fund
About Sierra Oncology
Sierra Oncology is a biopharmaceutical company developing targeted therapies for rare cancers. The firm advances compounds like sisseimutamab avipalcabot targeting specific tumor drivers, conducting clinical trials in hematologic malignancies and solid tumors to address unmet needs in oncology treatment.
Founded
2004
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Licensing
Valuation
$1.9B (acquired Apr 2022)
Sectors
Sierra Oncology Acquisition
Sierra Oncology was acquired by GSK for $1.9B on 13 April 2022.
Before the acquisition Sierra Oncology had raised $72M across 2 funding rounds.
GlaxoSmithKline (GSK) agreed to acquire Sierra Oncology, a late-stage biopharmaceutical company focused on targeted therapies for rare cancers, for $55 per share in cash, representing an approximate equity value of $1.9 billion. The deal, announced on April 13, 2022, and completed on July 1, 2022, provides GSK access to momelotinib, Sierra's lead asset for myelofibrosis that met primary and key secondary endpoints in the phase III MOMENTUM trial, demonstrating benefits in symptoms, splenic response, and anemia. Sierra had submitted a New Drug Application to the FDA in June 2022, with a European submission planned for the second half of 2022. The acquisition supports GSK's strategy to build its oncology portfolio with differentiated specialty medicines, anticipating momelotinib's U.S. launch in 2023 and EPS accretion in 2024. Momelotinib's development history includes prior ownership by YM BioSciences (acquired by Gilead for $510 million in 2012) and transfer to Sierra in 2018 for $3 million upfront plus royalties after trial setbacks. The per-share price offered a 39% premium to Sierra's closing price on April 12, 2022, and 63% to its 30-day VWAP, with shareholder approval secured on June 29, 2022, following HSR antitrust clearance. The transaction occurred amid a biotech market downturn with slowed IPOs and stock declines, positioning it as one of the largest public biotech deals of early 2022, matching UCB's Zogenix acquisition. GSK views momelotinib as addressing unmet needs in myelofibrosis patients with anemia unresponsive to treatments like Jakafi.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 13 Apr 2022 | Strategic M&A | $1.9B |
Sierra Oncology Funding History
Sierra Oncology has raised a total of $72M across 2 funding rounds.
Sierra Oncology's first fundraising round was a $12M Series C in January 2014. The most recent completed round was a $60M Series D in April 2014.
Sierra Oncology funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Apr 2014 | Series D | Vivo Capital (lead); Apjohn ventures; Frazier Healthcare Partners; Capital Midwest Fund; RA Capital Management; The Amherst Fund; Hopen Life Science Ventures; OrbiMed; Janus Capital Group | $60M | - |
| Jan 2014 | Series C | Capital Midwest Fund (lead) | $12M | Sierra Oncology completed a Series C financing round in January 2014, securing $12 million in capital to expand Phase II cancer studies for PNT2258, a novel BCL2 inhibitor targeting defined lymphoma patients. The round was led by Capital Midwest Fund. Post-money valuation, revenue metrics, and EBITDA figures for this round are not publicly available in disclosed sources. |
Who has invested in Sierra Oncology?
9 investors have backed Sierra Oncology across its funding rounds, including Capital Midwest Fund, OrbiMed, RA Capital Management, Vivo Capital, Frazier Healthcare Partners and Janus Capital Group.
Lead investors include Vivo Capital and Capital Midwest Fund.
Sierra Oncology Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Jan 2014 | ||
| 1 | Participant | Apr 2014 | ||
| 1 | Participant | Apr 2014 | ||
| 1 | Lead | Apr 2014 | ||
| 1 | Participant | Apr 2014 | ||
| 1 | Participant | Apr 2014 | ||
| 1 | Participant | Apr 2014 | ||
This data is available for Pro users. Sign up to see all 9 Sierra Oncology 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 TrialSierra Oncology Competitors
Sierra Oncology competitors include listed companies like Recursion Pharmaceuticals, Mesoblast, Alvotech and Eris Lifesciences, and private ones like ArsenalBio and BioRay Pharmaceuticals.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1.9B | - | ||
| Private | $131M | - | $1.9B | 14.5x | ||
| Publicly listed | $74M | ($582M) | $1.9B | 26.6x | ||
| Publicly listed | $120M | ($35M) | $1.9B | 14.7x | ||
| Publicly listed | $586M | $308M | $1.9B | 5.4x | ||
| Publicly listed | $325M | $115M | $1.9B | 6.2x |
Sierra Oncology Public Comps
Sierra Oncology is no longer listed, but its public comps include Recursion Pharmaceuticals, Mesoblast, Alvotech, Eris Lifesciences, OneSource Specialty, Voronoi, Pfizer India, Jinyu Bio-Technology Co., Lakefront Biotherapeutics and Hepalink.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $74M | ($582M) | 19.1x | 26.6x | (2.4x) | (2.8x) | |||
| $120M | ($35M) | 16.5x | 14.7x | (57.1x) | (73.4x) | |||
| $586M | $308M | 5.5x | 5.4x | 10.4x | 18.6x | |||
| $325M | $115M | 6.6x | 6.2x | 18.5x | 17.4x | |||
| $148M | $30M | 13.8x | 10.8x | 68.3x | 36.9x | |||
| $5M | ($35M) | 337.1x | 358.5x | (52.6x) | (32.5x) | |||
| $263M | $90M | 6.1x | 5.9x | 17.7x | 16.2x | |||
| $208M | $47M | 8.2x | 7.2x | 36.4x | 29.2x | |||
This data is available for Pro users. Sign up to see all Sierra Oncology competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Sierra Oncology
| When was Sierra Oncology founded? | Sierra Oncology was founded in 2004. |
| Where is Sierra Oncology headquartered? | Sierra Oncology is headquartered in San Francisco, CA, United States. |
| Is Sierra Oncology publicly listed? | No, Sierra Oncology was acquired by GSK in April 2022. |
| Who acquired Sierra Oncology? | Sierra Oncology was acquired by GSK in April 2022. |
| How much was Sierra Oncology acquired for? | Sierra Oncology was acquired for $1.9B in April 2022. |
| How much funding has Sierra Oncology raised? | Sierra Oncology has raised $72M across 2 funding rounds. |
| What was Sierra Oncology's last funding round? | Sierra Oncology's last funding round was a $60M Series D in April 2014, led by Vivo Capital. |
| Who are Sierra Oncology's investors? | Sierra Oncology's investors include Capital Midwest Fund, Apjohn ventures, Frazier Healthcare Partners, Vivo Capital, RA Capital Management, The Amherst Fund, Hopen Life Science Ventures, OrbiMed and Janus Capital Group. |
| Which companies are comparable to Sierra Oncology? | Companies comparable to Sierra Oncology include ArsenalBio, BioRay Pharmaceuticals, Recursion Pharmaceuticals, Mesoblast, Alvotech and Eris Lifesciences. |
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