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

Starna Therapeutics Overview

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

ChinaSuzhou

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

Starna Therapeutics valuation by funding round
DateStageValuation
May 2026Series 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

Starna Therapeutics funding rounds
DateStageInvestorsRaisedValuationDeal Summary
May 2026Series BGL Ventures; LYFE Capital; Primavera Capital Group; Lilly Asia Ventures; Sherpa Capital; Source Code Capital$40M$400MStarna 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 2025Series BHillhouse 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 2022Series ALYFE 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 2021AngelGL 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

Investors in Starna Therapeutics by funding rounds participated
InvestorHQRoundsRoleFirst check
Sherpa Healthcare PartnersChinaBeijing3LeadDec 2021
LYFE CapitalSingaporeSingapore3LeadMay 2022
Primavera Capital GroupChinaBeijing3ParticipantMay 2022
Source Code CapitalChinaBeijing3ParticipantMay 2022
GL VenturesChinaBeijing2LeadDec 2021
Hillhouse InvestmentChinaBeijing2LeadMay 2022
Lilly Asia VenturesChinaShanghai2LeadOct 2025

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Starna 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.

Public and private companies comparable to Starna Therapeutics
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
BiocytogenChinaBeijingPrivate--$425M-
Avacta GroupUnited KingdomUnited KingdomPublicly listed$151K($38M)$355M3121.6x
Vanqua BioUnited StatesChicago, ILPrivate--$333M-
ImmviraChinaShenzhenPrivate--$500M-
Dewpoint TherapeuticsUnited StatesBoston, MAPrivate--$504M-
Hyundai BioscienceSouth KoreaSouth KoreaPublicly 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 FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Hyundai Bioscience$3M($15M)141.7x-(25.3x)-
Zhejiang Shouxiangu$96M$31M3.6x3.7x11.4x-
Assembly Biosciences$72M($12M)1.3x1.4x(7.7x)3.3x
C4 Therapeutics$36M($113M)6.1x7.8x(1.9x)-
Cuorips$1M($6M)279.6x282.1x(62.1x)-
Editas Medicine$41M($157M)5.3x7.6x(1.4x)(1.9x)
BlossomHill Therapeutics-($64M)--(9.8x)-
Avalo Therapeutics$59K($82M)6712.2x42240.7x(4.8x)-

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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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