Totus Medicines Funding, Investors & Competitors

Totus Medicines has raised $106M across 2 funding rounds, most recently a $66M Series B in December 2023.

Last Totus Medicines funding round

$66M

Series B · Dec 2023

Cumulative funding Totus Medicines raised

$106M

across 2 funding rounds

Key investors in Totus Medicines

  • Northpond Ventures
  • DCVC Bio
  • Camford Capital
  • Regents of The University of Minnesota

Totus Medicines Overview

About Totus Medicines

Totus Medicines is a Boston-based biotechnology company employing chemical biology platforms to develop therapies for undruggable targets across the human genome. Its technology screens billions of drug candidates against thousands of proteins simultaneously, yielding high-quality molecules for previously intractable diseases. The firm advances programs in oncology and other areas with a focus on precision medicine.


Founded

2020

HQ

United StatesUnited States

Status

Privately held

Customer focus

B2B

Revenue model

Licensing

Totus Medicines Funding History

Totus Medicines has raised a total of $106M across 2 funding rounds.

Totus Medicines' first fundraising round was a $40M Series A in December 2021. The most recent completed round was a $66M Series B in December 2023.

Totus Medicines funding rounds

Totus Medicines funding rounds
DateStageInvestorsRaisedDeal Summary
Dec 2023Series BDCVC Bio (lead); Northpond Ventures; Regents of The University of Minnesota; Camford Capital$66MTotus Medicines is a biotechnology company revolutionizing small molecule drug discovery and development using covalent libraries and AI tools, with a focus on oncology and complex diseases. Its platform enables chemical biology technologies to target mutated oncogenes, including clinical candidates like TOS-358, a covalent inhibitor of PI3Ka. The company engages in B2B partnerships with pharmaceutical companies, research institutions, and healthcare providers through fee-for-service agreements, milestone payments, and revenue-sharing arrangements, primarily in North America, Europe, and Asia. On December 15, 2023, Totus Medicines closed a Series B funding round totaling $66 million, led by DCVC Bio, with participation from Northpond Ventures, Camford Capital, and the Regents of the University of Minnesota. This round brought the company's total funding to $106 million across three rounds. Proceeds are allocated to advance its clinical program, expand the drug pipeline, enhance platform functionality, and strengthen market presence in North America and Europe. Simultaneously, Nassim Usman, Ph.D., was appointed President & CEO, bringing expertise to accelerate therapies to market, while co-founder Neil Dhawan transitioned to CSO and Head of R&D to oversee platform, programs, and data. Investors highlighted the platform's transformative potential in small molecule discovery and the team's progress toward clinical development. The company operates in competitive biotech sectors including biopharmaceuticals, molecular science, genetics, oncology, and pharmaceutical R&D, leveraging AI for drug design.
Dec 2021Series ADCVC Bio (lead); Northpond Ventures (lead); Camford Capital$40MTotus Medicines is a Massachusetts-based biotech company that emerged from stealth in September 2021 with a $40 million Series A funding round. The company was founded by CEO Neil Dhawan, who previously co-founded Dual Therapeutics. Totus announced the Series A round led by DCVC Bio and Northpond Ventures, with support from Camford Capital and the Regents of the University of Minnesota. The Series A was followed by a $66 million Series B round completed in November 2023, with investors including Camford Capital, DCVC, and Northpond Ventures. Totus Medicines has developed an AI-powered drug discovery platform called the Magellan Platform that uses molecular tags to track drug binding in individual cells, enabling the screening of billions of drug molecules across thousands of genes in parallel. The platform operates through three synergistic components: an exponentially evolving covalent library that grew from 15 million compounds toward over 500 million, a multiplexed technology enabling screening of hundreds of targets per day, and immediate re-synthesis and testing in pathway readouts. The company's lead therapeutic candidate is TOS-358, designed to improve on existing PI3Kα inhibitors such as Novartis' Piqray for treating PI3Kα-mutant cancers. According to preclinical studies, TOS-358 showed efficacy in tumor types that are largely unaffected by existing PI3Kα inhibitor molecules, addressing a market opportunity where existing therapies have achieved only moderate success in less than 10% of patients with PI3Kα-mutant cancers despite decades and billions of dollars in industry investment.

Who has invested in Totus Medicines?

4 investors have backed Totus Medicines across its funding rounds, including Northpond Ventures, DCVC Bio, Camford Capital and Regents of The University of Minnesota.

Lead investors include DCVC Bio and Northpond Ventures.


Totus Medicines Investors

Investors in Totus Medicines by funding rounds participated
InvestorHQRoundsRoleFirst check
Northpond VenturesUnited StatesWashington, DC2LeadDec 2021
DCVC BioUnited StatesSan Francisco, CA2LeadDec 2021

This data is available for Pro users. Sign up to see all 4 Totus Medicines 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 Trial

Totus Medicines Competitors

Totus Medicines competitors include listed companies like Eli Lilly, Johnson & Johnson, AbbVie and Merck, and private ones like Biosplice Therapeutics and Biocon Biologics.

Public and private companies comparable to Totus Medicines
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Eli LillyUnited StatesUnited StatesPublicly listed$65B$28B$1.0T13.1x
Johnson & JohnsonUnited StatesUnited StatesPublicly listed$94B$40B$651B6.8x
AbbVieUnited StatesUnited StatesPublicly listed$61B$17B$467B8.1x
MerckUnited StatesUnited StatesPublicly listed$65B$28B$363B6.2x
Biosplice TherapeuticsUnited StatesSan Diego, CAPrivate--$12B-
Biocon BiologicsIndiaBangalorePrivate$1.1B-$4.5B4.2x

Totus Medicines Public Comps

Totus Medicines is still privately-owned, but its public comps include Eli Lilly, Johnson & Johnson, AbbVie, Merck, Roche, Novartis, AstraZeneca, Amgen, Novo Nordisk and Gilead Sciences.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Eli Lilly$65B$28B16.5x13.1x38.7x27.0x
Johnson & Johnson$94B$40B7.2x6.8x17.0x18.3x
AbbVie$61B$17B8.7x8.1x30.6x17.6x
Merck$65B$28B6.3x6.2x14.7x21.0x
Roche$77B$26B5.0x4.9x14.6x12.4x
Novartis$57B$22B5.5x5.5x14.2x13.3x
AstraZeneca$59B$19B4.8x4.5x14.6x12.7x
Amgen$37B$17B6.8x6.5x14.8x14.4x

This data is available for Pro users. Sign up to see all Totus Medicines competitors and their valuation data.

Start Free Trial

Common questions about Totus Medicines

When was Totus Medicines founded?Totus Medicines was founded in 2020.
Where is Totus Medicines headquartered?Totus Medicines is headquartered in United States.
Is Totus Medicines publicly listed?No, Totus Medicines is a private, VC-backed company.
How much funding has Totus Medicines raised?Totus Medicines has raised $106M across 2 funding rounds.
What was Totus Medicines' last funding round?Totus Medicines' last funding round was a $66M Series B in December 2023, led by DCVC Bio.
Who are Totus Medicines' investors?Totus Medicines' investors include Northpond Ventures, DCVC Bio, Camford Capital and Regents of The University of Minnesota.
Which companies are comparable to Totus Medicines?Companies comparable to Totus Medicines include Eli Lilly, Johnson & Johnson, AbbVie, Merck, Biosplice Therapeutics and Biocon Biologics.

See companies similar to Totus Medicines

Start Your
Free Trial Today

Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.

Start Trial