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- Totus Medicines
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
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
Website
Status
Privately held
Customer focus
B2B
Revenue model
Licensing
Sectors
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
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Dec 2023 | Series B | DCVC Bio (lead); Northpond Ventures; Regents of The University of Minnesota; Camford Capital | $66M | Totus 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 2021 | Series A | DCVC Bio (lead); Northpond Ventures (lead); Camford Capital | $40M | Totus 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
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Dec 2021 | ||
| 2 | Lead | Dec 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 TrialTotus 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.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $65B | $28B | $1.0T | 13.1x | ||
| Publicly listed | $94B | $40B | $651B | 6.8x | ||
| Publicly listed | $61B | $17B | $467B | 8.1x | ||
| Publicly listed | $65B | $28B | $363B | 6.2x | ||
| Private | - | - | $12B | - | ||
| Private | $1.1B | - | $4.5B | 4.2x |
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 FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $65B | $28B | 16.5x | 13.1x | 38.7x | 27.0x | |||
| $94B | $40B | 7.2x | 6.8x | 17.0x | 18.3x | |||
| $61B | $17B | 8.7x | 8.1x | 30.6x | 17.6x | |||
| $65B | $28B | 6.3x | 6.2x | 14.7x | 21.0x | |||
| $77B | $26B | 5.0x | 4.9x | 14.6x | 12.4x | |||
| $57B | $22B | 5.5x | 5.5x | 14.2x | 13.3x | |||
| $59B | $19B | 4.8x | 4.5x | 14.6x | 12.7x | |||
| $37B | $17B | 6.8x | 6.5x | 14.8x | 14.4x | |||
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. |
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