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- Starna Therapeutics
Starna Therapeutics Valuation, Funding & Investors
Starna Therapeutics is valued at $400M as of May 2026.
Last Starna Therapeutics valuation
$400M
Series B · May 2026
Last Starna Therapeutics funding round
$40M
Series B · May 2026
Cumulative funding Starna Therapeutics raised
$115M
across 4 funding rounds
Key investors in Starna Therapeutics
Source Code Capital
Sherpa Healthcare Partners
Primavera Capital Group
LYFE Capital
Hillhouse Investment
Lilly Asia Ventures
About Starna Therapeutics
Starna Therapeutics is a biotechnology company specializing in mRNA therapeutics through its proprietary RNA and organ-selective delivery platform protected by independent intellectual property. The firm advances a diverse R&D pipeline targeting infectious disease vaccines and tumor immunotherapy applications. Headquartered in Shanghai, China, Starna focuses on innovative drug development to address unmet medical needs in virology and oncology.
Founded
2021
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Licensing
Valuation
$400M (May 2026)
Starna Therapeutics Valuation
Starna Therapeutics is currently valued at $400M, based on its Series B in May 2026. Read the announcement ↗
The $40M round included GL Ventures, LYFE Capital, Primavera Capital Group, Lilly Asia Ventures, Sherpa Capital and 1 other investor.
Starna Therapeutics valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| May 2026 | Series B | $400M |
Starna Therapeutics Funding History
Starna Therapeutics has raised a total of $115M across 4 funding rounds.
Starna Therapeutics' first fundraising round was a $10M angel round in December 2021. The most recent completed round was a $40M Series B in May 2026.
Starna Therapeutics funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| May 2026 | Series B | GL Ventures; LYFE Capital; Primavera Capital Group; Lilly Asia Ventures; Sherpa Capital; Source Code Capital | $40M | $400M | Starna Therapeutics, a Suzhou-based in vivo CAR-T developer, completed a Series B+ financing of nearly USD 40 million in May 2026. Participants included Hillhouse Ventures, LYFE Capital, Lilly Asia Ventures, Sherpa Healthcare Partners, Source Code Capital and Primavera Capital, largely existing backers. The round came roughly six months after a USD 44 million Series B in October 2025 co-led by LYFE Capital, Lilly Asia Ventures and Hillhouse. The company said the proceeds will mainly accelerate clinical development of multiple in vivo CAR-T programs and build extra-hepatic delivery platforms targeting the lungs, intestines and nervous system. Starna was founded in 2021 by mRNA and lipid-nanoparticle veterans and develops tissue-selective targeted RNA therapies. Its lead approach uses a spleen-targeting lipid nanoparticle carrying full antibodies to home in on T cells, with a microRNA kill switch to limit off-target expression in the liver, and it has reported early clinical data for the program. |
| Oct 2025 | Series B | Hillhouse Investment (lead); Lilly Asia Ventures (lead); LYFE Capital (lead); Sherpa Healthcare Partners; Primavera Capital Group; Source Code Capital | $42M | - | Starna Therapeutics, a China-based biotech startup focused on in vivo CAR-T cell therapy, closed a Series B funding round of $44 million in October 2025. The round was co-led by LYFE Capital, Lilly Asia Ventures, and Hillhouse Capital. The company announced preliminary clinical success from investigator-initiated studies showing complete elimination of circulating B cells within 72 hours after a single low-dose infusion in a small number of lupus patients and one non-Hodgkin lymphoma patient, with zero B cells per microliter detected by flow cytometry. Starna's technology platform represents a new wave of investment in in vivo CAR-T approaches, which aim to simplify and reduce costs compared to traditional ex vivo cell engineering methods. The company plans to conduct Phase 1 studies in both China and the United States in 2026, pending regulatory approval, with an initial focus on treating six lupus patients by the end of 2025 and testing multiple therapeutic variants including a dual-CAR approach targeting CD19 and BCMA and a next-generation therapy based on circular RNA. |
| May 2022 | Series A | LYFE Capital (lead); Sherpa Healthcare Partners; Hillhouse Investment; Primavera Capital Group; Hony Capital; Source Code Capital | $22M | - | Starna Therapeutics, founded in August 2021 in Suzhou, China, develops innovative mRNA drugs focusing on extrahepatic targeted delivery technology, including mRNA design, synthesis, and LNP delivery platforms with independent IP. The company targets tissue-specific mRNA drug delivery for unmet clinical needs, such as preventive vaccines, therapeutic cancer vaccines, and in vivo cell therapies. On May 16, 2022, Starna Therapeutics completed its Series A financing round, raising 150 million yuan (approximately $22.1 million USD), led by LYFE Capital, with co-investors Source Code Capital, Hony Capital, Primavera Venture Partners (or Primavera Capital Group), and existing shareholders GL Ventures and Sherpa Healthcare Partners. This followed an angel round in December 2021. The funds were allocated to expand the R&D center, build pilot workshops, advance research pipelines, and enhance extrahepatic delivery technology to expand mRNA drug applications. Starna has established a technical platform and aims for international competitiveness in RNA and delivery technology. Later developments include a Series B round in October 2025 raising over 300 million RMB, co-led by LYFE Capital, Hillhouse Ventures, and Lilly Asia Ventures, to advance in vivo CAR-T and extrahepatic delivery, with products like RSV vaccine STR-V003 receiving FDA approval and others entering clinical trials. |
| Dec 2021 | Angel | GL Ventures (lead); Sherpa Healthcare Partners (lead) | $10M | - | Starna Therapeutics is a clinical-stage RNA therapeutics company founded in August 2021 and based in Suzhou, China. The company focuses on developing innovative mRNA-based medicines with a proprietary extrahepatic delivery platform designed to target multiple tissues and cell types beyond the liver. Starna completed an angel funding round on December 13, 2021, raising $10 million from investors GL Ventures and Sherpa Venture Capital. The company had not yet disclosed revenue or financial metrics at this early stage. As of October 2025, Starna completed a Series B financing round raising over 300 million RMB co-led by LYFE Capital, Hillhouse Ventures, and Lilly Asia Ventures, with additional support from existing shareholders. The company's pipeline includes the respiratory syncytial virus vaccine (STR-V003), which received FDA clinical trial approval, along with a therapeutic cancer vaccine (STR-V005) and in vivo CAR-T therapy (STR-P004) in clinical development stages. By 2025, Starna had established a 4,000-square-meter R&D and pilot production base with capabilities in mRNA and lipid nanoparticle (LNP) synthesis and screening. |
Who has invested in Starna Therapeutics?
9 investors have backed Starna Therapeutics across its funding rounds, including Source Code Capital, Sherpa Healthcare Partners, Primavera Capital Group, LYFE Capital, Hillhouse Investment and Lilly Asia Ventures.
Lead investors include Hillhouse Investment, Lilly Asia Ventures, LYFE Capital, GL Ventures and Sherpa Healthcare Partners.
Starna Therapeutics Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Dec 2021 | ||
| 3 | Lead | May 2022 | ||
| 3 | Participant | May 2022 | ||
| 3 | Participant | May 2022 | ||
| 2 | Lead | Dec 2021 | ||
| 2 | Lead | May 2022 | ||
| 2 | Lead | Oct 2025 | ||
This data is available for Pro users. Sign up to see all 9 Starna Therapeutics 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 TrialStarna Therapeutics Competitors
Starna Therapeutics competitors include listed companies like Avacta Group and Hyundai Bioscience, and private ones like Biocytogen, Vanqua Bio, Immvira and Dewpoint Therapeutics.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $425M | - | ||
| Publicly listed | $151K | ($38M) | $355M | 3121.6x | ||
| Private | - | - | $333M | - | ||
| Private | - | - | $500M | - | ||
| Private | - | - | $504M | - | ||
| Publicly listed | $3M | ($15M) | $399M | - |
Starna Therapeutics Public Comps
Starna Therapeutics is still privately-owned, but its public comps include Hyundai Bioscience, Zhejiang Shouxiangu, Assembly Biosciences, C4 Therapeutics, Cuorips, Editas Medicine, BlossomHill Therapeutics, Avalo Therapeutics, Altimmune and Relmada Therapeutics.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $3M | ($15M) | 141.7x | - | (25.3x) | - | |||
| $96M | $31M | 3.6x | 3.7x | 11.4x | - | |||
| $72M | ($12M) | 1.3x | 1.4x | (7.7x) | 3.3x | |||
| $36M | ($113M) | 6.1x | 7.8x | (1.9x) | - | |||
| $1M | ($6M) | 279.6x | 282.1x | (62.1x) | - | |||
| $41M | ($157M) | 5.3x | 7.6x | (1.4x) | (1.9x) | |||
| - | ($64M) | - | - | (9.8x) | - | |||
| $59K | ($82M) | 6712.2x | 42240.7x | (4.8x) | - | |||
This data is available for Pro users. Sign up to see all Starna Therapeutics competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Starna Therapeutics
| When was Starna Therapeutics founded? | Starna Therapeutics was founded in 2021. |
| Where is Starna Therapeutics headquartered? | Starna Therapeutics is headquartered in Suzhou, China. |
| Is Starna Therapeutics publicly listed? | No, Starna Therapeutics is a private, VC-backed company. |
| What is Starna Therapeutics' valuation? | Starna Therapeutics was last valued at $400M in its Series B in May 2026. |
| How much funding has Starna Therapeutics raised? | Starna Therapeutics has raised $115M across 4 funding rounds. |
| What was Starna Therapeutics' last funding round? | Starna Therapeutics' last funding round was a $40M Series B in May 2026. |
| Who are Starna Therapeutics' investors? | Starna Therapeutics' investors include Sherpa Healthcare Partners, LYFE Capital, Primavera Capital Group, Source Code Capital, GL Ventures, Hillhouse Investment, Lilly Asia Ventures, Sherpa Capital and Hony Capital. |
| Which companies are comparable to Starna Therapeutics? | Companies comparable to Starna Therapeutics include Biocytogen, Avacta Group, Vanqua Bio, Immvira, Dewpoint Therapeutics and Hyundai Bioscience. |
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