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- Star Therapeutics
Star Therapeutics Funding, Investors & Competitors
Star Therapeutics has raised $515M across 4 funding rounds, most recently a $200M undisclosed-stage round in October 2026.
Last Star Therapeutics funding round
$200M
Undisclosed stage · Oct 2026
Cumulative funding Star Therapeutics raised
$515M
across 4 funding rounds
Key investors in Star Therapeutics
OrbiMed
RA Capital Management
Redmile Group
Sofinnova Investments
New Leaf Venture Partners
Cormorant Asset Management
Viking Global Investors
Janus Henderson
About Star Therapeutics
Star Therapeutics is a biotechnology company building antibody therapies through subsidiary programs for rare diseases and other unmet medical needs. The organization serves B2B customers and counterparties through the operating assets, products, or financial capabilities described in the cited transaction materials. Its principal economics are Product sales, Licensing, while its competitive position depends on sector expertise, asset quality, customer relationships, execution, and disciplined capital allocation. The business was founded in 2018 and is headquartered in South San Francisco. The Series C financed clinical development and expansion of the company’s portfolio and platform. The profile reflects the legal or operating business at the transaction date, including its historical identity where a subsequent listing, merger, privatization, disposal, or reorganization changed its name or ownership.
Founded
2018
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Licensing
Sectors
Star Therapeutics Funding History
Star Therapeutics has raised a total of $515M across 4 funding rounds.
Star Therapeutics' first fundraising round was a $100M undisclosed-stage round in February 2022. The most recent completed round was a $200M undisclosed-stage round in October 2026.
Star Therapeutics funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Oct 2026 | Undisclosed stage | Janus Henderson (lead); OrbiMed (lead); Redmile Group; Soleus Capital; Cormorant Asset Management; New Leaf Venture Partners; Agent Capital; Catalio Capital Management; RA Capital Management; NYBC Ventures; Sofinnova Investments | $200M | Star Therapeutics, a South San Francisco antibody developer, announced a USD 200 million private financing on 23 October 2026. The round was co-led by OrbiMed and Janus Henderson Investors, and a Janus Henderson portfolio manager is joining the board as an observer. Other participants include Agent Capital, Catalio Capital Management, Cormorant Asset Management, New Leaf Venture Partners, NYBC Ventures, RA Capital Management, Redmile Group, Sofinnova Investments and Soleus Capital. The company said the proceeds will support its next phase of growth, including moving current preclinical programs into the clinic and continuing to expand its pipeline. The financing follows Incyte's July 2026 acquisition of Star's wholly owned subsidiary Vega Therapeutics, a transaction valued at up to USD 2 billion that included the lead program latarcibart, a monoclonal antibody in Phase 3 development for von Willebrand disease. Star had previously raised a USD 125 million Series D in September 2025. The company describes its mission as discovering and developing best-in-class antibody therapies for patients with serious diseases, and its team has invented four first-in-class therapies that are in Phase 3 development or commercialized. |
| Sep 2025 | Series D | Sanofi Ventures (lead); Viking Global Investors (lead) | $125M | Star Therapeutics, a clinical-stage biotechnology company based in South San Francisco, develops best-in-class antibodies for bleeding disorders and other diseases in hematology and immunology. Its lead program, VGA039, is a first-in-class monoclonal antibody targeting Protein S to restore blood clotting balance, positioned as a universal hemostatic therapy starting with von Willebrand disease (VWD), the most common inherited bleeding disorder affecting over 50,000 diagnosed and treated patients in the US. On September 30, 2025, Star Therapeutics announced an oversubscribed $125 million Series D financing round co-led by Sanofi Ventures and Viking Global Investors. New investors included Janus Henderson Investors, Frazier Life Sciences, and GordonMD Global Investments, while existing backers such as OrbiMed, RA Capital Management, Qatar Investment Authority (QIA), Redmile Group, Sofinnova Investments, Blue Owl Capital, and others participated. The proceeds will advance the company's pipeline, particularly VGA039, which has initiated a pivotal Phase 3 clinical trial evaluating monthly subcutaneous injections for all types of VWD. VGA039 has received orphan drug and fast track designations from the FDA and aims to reduce treatment burden compared to factor replacement prophylaxis requiring two to three IV infusions weekly. As part of the financing, Jason Hafler, Ph.D., from Sanofi Ventures joined the board of directors, and Maneka Mirchandaney from Viking Global Investors became a board observer. The company previously spun out Electra Therapeutics as an independent entity focused on rare diseases, while retaining its Vega program for blood disorders. CEO and founder Adam Rosenthal emphasized the funding's reinforcement of the mission to deliver life-changing therapies for bleeding disorders. Investors highlighted VWD's sizable patient population and unmet needs, positioning Star to create substantial patient impact and long-term value with VGA039's Phase 3 advancement. |
| Sep 2023 | Series C | Sofinnova Investments (lead) | $90M | Star Therapeutics is a biotechnology company that operates as a portfolio company, forming subsidiaries focused on specific biology areas with first-in-class antibody therapies targeting unmet needs in hematology and immunology. It has launched two publicly disclosed offshoots: Electra Therapeutics, now independently financed, and Vega Therapeutics, which remains under Star’s wing and focuses on blood disorders. The $90 million oversubscribed Series C financing, announced in September 2023 and led by Sofinnova Investments, included new investors Qatar Investment Authority, Catalio Capital Management, Agent Capital, Soleus Capital, and NYBC Ventures, plus all seven existing investors including Westlake Village BioPartners, OrbiMed, Redmile Group, RA Capital Management, New Leaf Venture Partners, Cormorant Asset Management, and Cowen Healthcare Investments. This round brought total funding to nearly $190 million since founding in late 2018. Proceeds from the Series C will support growth of portfolio companies, development of new antibody drugs for diseases with high unmet need, and clinical advancement of VGA039, a monoclonal antibody for von Willebrand disease (VWD), a bleeding disorder. VGA039, which received FDA orphan-drug designation, is in a Phase 1a/1b study launched earlier in 2023, with funds to carry it through the full trial. Star positions itself as an innovation engine generating additional biotech companies, replicating success in rapidly advancing antibodies from idea to clinic. |
| Feb 2022 | Undisclosed stage | Cowen Healthcare Investments; Redmile Group; New Leaf Venture Partners; RA Capital Management; Westlake Village BioPartners; OrbiMed; Cormorant Asset Management | $100M | Star Therapeutics, a South San Francisco-based biotechnology company founded in 2018, emerged from stealth mode on February 16, 2022, announcing over $100 million in total financing raised since inception from Westlake Village BioPartners, OrbiMed, Redmile Group, Cormorant Asset Management, RA Capital Management, Cowen Healthcare Investments, and New Leaf Venture Partners. The company operates as an innovation engine for rare disease therapies, applying expertise in rare diseases and antibody drug discovery to develop first-in-class programs targeting multiple diseases with single therapies, all internally generated from early discovery. This funding supported further development in rare diseases and the spin-out of Electra Therapeutics, its first portfolio company, which simultaneously announced an $84 million Series B financing. Star's approach involves creating a family or constellation of companies, each focused on specific biology areas with therapies addressing shared biological drivers across multiple rare diseases, aiming to unlock limited understanding of disease biology where only about 650 FDA-approved drugs exist for roughly 7,000 rare diseases. The leadership team, including CEO and Founder Adam Rosenthal, PhD, and Executive Board Chair Nancy Stagliano, PhD, has a track record in antibody development, including sutimlimab (ENJAYMO), the first FDA-approved treatment for cold agglutinin disease. At emergence, Star revealed its first clinical-stage program through Electra. Subsequent financings include a $90 million oversubscribed Series C in September 2023 led by Sofinnova Investments with participation from existing investors, bringing total funding over $190 million, to advance pipeline including VGA039 in Phase 1a/1b for blood disorders via portfolio company Vega Therapeutics. In September 2025, an oversubscribed $125 million Series D co-led by Sanofi Ventures and Viking Global Investors supported Phase 3 advancement of VGA039, a monoclonal antibody targeting Protein S for von Willebrand disease and other bleeding disorders, with total funding exceeding $300 million. Star has shifted focus primarily to VGA039 as a universal hemostatic therapy while retaining potential for additional portfolio growth. |
Who has invested in Star Therapeutics?
16 investors have backed Star Therapeutics across its funding rounds, including OrbiMed, RA Capital Management, Redmile Group, Sofinnova Investments, New Leaf Venture Partners and Cormorant Asset Management.
Lead investors include Janus Henderson, OrbiMed, Sanofi Ventures, Viking Global Investors and Sofinnova Investments.
Star Therapeutics Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Participant | Feb 2022 | ||
| 2 | Participant | Feb 2022 | ||
| 2 | Participant | Feb 2022 | ||
| 2 | Lead | Feb 2022 | ||
| 2 | Lead | Sep 2023 | ||
| 1 | Participant | Feb 2022 | ||
| 1 | Participant | Oct 2026 | ||
| 1 | Participant | Oct 2026 | ||
| 1 | Lead | Oct 2026 | ||
| 1 | Participant | Oct 2026 | ||
| 1 | Participant | Oct 2026 | ||
| 1 | Participant | Feb 2022 | ||
| 1 | Participant | Oct 2026 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialStar Therapeutics Competitors
Star Therapeutics competitors include listed companies like Eli Lilly, Johnson & Johnson, AbbVie and Roche, and private ones like Biosplice Therapeutics and Intas Pharmaceuticals.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $65B | $28B | $1.3T | 15.1x | ||
| Publicly listed | $94B | $40B | $658B | 6.8x | ||
| Publicly listed | $61B | $17B | $521B | 8.8x | ||
| Publicly listed | $77B | $26B | $391B | 5.4x | ||
| Private | - | - | $12B | - | ||
| Private | $2B | - | $8.5B | - |
Star Therapeutics Public Comps
Star Therapeutics is still privately-owned, but its public comps include Eli Lilly, Johnson & Johnson, AbbVie, Roche, Merck, Novartis, AstraZeneca, Amgen, Gilead Sciences and Novo Nordisk.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $65B | $28B | 20.1x | 15.1x | 47.1x | 32.2x | |||
| $94B | $40B | 7.3x | 6.8x | 17.1x | 18.6x | |||
| $61B | $17B | 9.6x | 8.8x | 33.7x | 18.7x | |||
| $77B | $26B | 5.5x | 5.4x | 16.2x | 13.7x | |||
| $65B | $28B | 6.4x | 6.2x | 14.9x | 23.1x | |||
| $57B | $22B | 6.1x | 6.1x | 15.8x | 14.8x | |||
| $59B | $19B | 5.4x | 5.1x | 16.5x | 14.1x | |||
| $37B | $17B | 8.0x | 7.6x | 17.6x | 16.8x | |||
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Common questions about Star Therapeutics
| When was Star Therapeutics founded? | Star Therapeutics was founded in 2018. |
| Where is Star Therapeutics headquartered? | Star Therapeutics is headquartered in San Francisco, CA, United States. |
| Is Star Therapeutics publicly listed? | No, Star Therapeutics is a private, VC-backed company. |
| How much funding has Star Therapeutics raised? | Star Therapeutics has raised $515M across 4 funding rounds. |
| What was Star Therapeutics' last funding round? | Star Therapeutics' last funding round was a $200M undisclosed-stage round in October 2026, led by Janus Henderson and OrbiMed. |
| Who are Star Therapeutics' investors? | Star Therapeutics' investors include Redmile Group, New Leaf Venture Partners, RA Capital Management, OrbiMed, Sofinnova Investments, Cowen Healthcare Investments, Soleus Capital, Cormorant Asset Management, Janus Henderson, Agent Capital and 6 others. |
| Which companies are comparable to Star Therapeutics? | Companies comparable to Star Therapeutics include Eli Lilly, Johnson & Johnson, AbbVie, Roche, Biosplice Therapeutics and Intas Pharmaceuticals. |
See companies similar to Star Therapeutics
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