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- Triveni Bio
Triveni Bio Valuation, Funding & Investors
Triveni Bio is valued at $310M as of October 2024.
Last Triveni Bio valuation
$310M
Series B · Oct 2024
Last Triveni Bio funding round
$65M
Series C · Jun 2026
Cumulative funding Triveni Bio raised
$272M
across 3 funding rounds
Key investors in Triveni Bio
Atlas Venture
OrbiMed
Fidelity
Alexandria Venture Investments
Cormorant Asset Management
Viking Global Investors
About Triveni Bio
Triveni Bio is a Boston-based biotechnology firm developing precision antibody therapies for immunological and inflammatory disorders. The company employs a genetics-driven platform to identify novel targets and accelerate proof-of-concept in early drug development stages. Triveni Bio targets autoimmune diseases like inflammatory bowel disease and rheumatoid arthritis with its proprietary discovery engine.
Founded
2019
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Licensing
Valuation
$310M (Oct 2024)
Sectors
Triveni Bio Valuation
Triveni Bio is currently valued at $310M, based on its Series B in October 2024.
The $115M round was led by Goldman Sachs Asset Management, with participation from Fidelity, Invus, Atlas Venture, Deep Track Capital, OrbiMed and 2 other investors.
Triveni Bio valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Oct 2024 | Series B | $310M |
Triveni Bio Funding History
Triveni Bio has raised a total of $272M across 3 funding rounds.
Triveni Bio's first fundraising round was a $92M Series A in October 2023. The most recent completed round was a $65M Series C in June 2026.
Triveni Bio funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jun 2026 | Series C | Ascenta Capital (lead); Janus Henderson (lead); Fidelity; Alexandria Venture Investments; Atlas Venture; Goldman Sachs; Deep Track Capital | $65M | - | - |
| Oct 2024 | Series B | Goldman Sachs Asset Management (lead); Fidelity; Invus; Atlas Venture; Deep Track Capital; OrbiMed; Viking Global Investors; Cormorant Asset Management | $115M | $310M | Triveni Bio is a Watertown, MA-based biotechnology company developing novel antibody therapeutics for immunological and inflammatory (I&I) disorders using a genetics-informed precision medicine approach. The company resulted from the merger of Amagma Therapeutics and Modify Therapeutics, unveiled in fall 2023. Its lead program, TRIV-509, is a preclinical monoclonal antibody inhibiting kallikreins 5 and 7 (KLK5/7) for skin disorders, with an IND submission planned for Q1 2025. Triveni is also advancing TRIV-573, a bispecific antibody combining KLK5/7 and IL-13 inhibition, aiming for clinical proof-of-concept, and an antibody inhibitor of trypsin 1 and 2 for hereditary pancreatitis. On October 2, 2024, Triveni Bio closed a $115 million Series B financing round led by Goldman Sachs Alternatives, with significant participation from new investors Fidelity Management & Research Company and Deep Track Capital, alongside existing Series A investors Atlas Venture, Cormorant Asset Management, OrbiMed, Viking Global Investors, and Invus. This follows a $92 million Series A round in April 2024, also led by Atlas Venture and Cormorant, bringing total funding to approximately $310.4 million, with a reported Series B valuation of $310.4 million. The proceeds will support pipeline expansion, including advancing TRIV-573 through clinical proof-of-concept, submitting the TRIV-509 IND, and growing its data science platform focused on precision dermatology. Triveni recently appointed a new CMO and plans to nominate additional candidates in 2024. Investors highlighted the company's progress toward clinical-stage development in I&I disorders, where standard-of-care options are limited. Wilson Sonsini advised Goldman Sachs on patent matters for the transaction. |
| Oct 2023 | Series A | Atlas Venture (lead); Cormorant Asset Management (lead); Alexandria Venture Investments; Polaris Partners; Invus; OrbiMed; Viking Global Investors | $92M | - | Triveni Bio launched on October 26, 2023, as a merger of Amagma Therapeutics and Modify Therapeutics, raising $92 million in a Series A financing co-led by Atlas Venture and Cormorant Asset Management, with participation from OrbiMed, Viking Global Investors, Invus, Polaris Partners, Alexandria Venture Investments, and others. The company pioneers a genetics-informed precision medicine approach to develop functional antibodies for immunological and inflammatory (I&I) disorders, leveraging public and private datasets via a collaboration with Nashville Biosciences to identify novel disease targets. The funding supports advancement of the lead program, TRIV-509, an antibody targeting kallikreins 5 and 7 for atopic dermatitis, asthma, and other I&I indications unresponsive to Th2-targeted treatments, progressing it from preclinical to Phase IIa trials. Two additional development candidates are anticipated in 2024. Vishal Patel, Ph.D., serves as CEO, with Jean-François Formela, M.D., from Atlas Venture as Board Chair. Based in Waltham/Cambridge, Massachusetts, Triveni emerged from Amagma, founded by Tillman Gerngross, Ph.D., and Leonard Zon, M.D., with Polaris funding, and Modify, seeded by Atlas. The round positions Triveni as a clinical-stage company with a data-driven pipeline addressing unmet needs in I&I disorders. Less than a year later, on October 2, 2024, Triveni raised $115 million in a Series B led by Goldman Sachs Alternatives, with new investors Fidelity Management & Research and Deep Track Capital, plus existing backers, to expand the pipeline including bispecific TRIV-573 through Phase 1 proof-of-concept. |
Who has invested in Triveni Bio?
13 investors have backed Triveni Bio across its funding rounds, including Atlas Venture, OrbiMed, Fidelity, Alexandria Venture Investments, Cormorant Asset Management and Viking Global Investors.
Lead investors include Ascenta Capital, Janus Henderson, Goldman Sachs Asset Management, Atlas Venture and Cormorant Asset Management.
Triveni Bio Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Oct 2023 | ||
| 2 | Participant | Oct 2024 | ||
| 2 | Participant | Oct 2023 | ||
| 2 | Participant | Oct 2023 | ||
| 2 | Participant | Oct 2024 | ||
| 2 | Participant | Oct 2023 | ||
| 2 | Participant | Oct 2023 | ||
| 2 | Lead | Oct 2023 | ||
| 1 | Participant | Oct 2023 | ||
| 1 | Lead | Jun 2026 | ||
| 1 | Participant | Jun 2026 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialTriveni Bio Competitors
Triveni Bio competitors include listed companies like Animalcare Group, Vanda Pharmaceuticals and Cuorips, and private ones like CureGenetics, Pendulum Therapeutics and PanTera.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $121M | $24M | $311M | 2.7x | ||
| Private | - | - | $311M | - | ||
| Publicly listed | $216M | ($127M) | $309M | 0.7x | ||
| Private | $40M | - | $308M | 7.7x | ||
| Private | - | - | $313M | - | ||
| Publicly listed | $1M | ($6M) | $307M | 214.0x |
Triveni Bio Public Comps
Triveni Bio is still privately-owned, but its public comps include Animalcare Group, Vanda Pharmaceuticals, Cuorips, AprilBio, InflaRx, Lavipharm, Fate Therapeutics, Medy-Tox, Zentalis Pharma and SAB Bio.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $121M | $24M | 2.7x | 2.7x | 13.6x | 13.6x | |||
| $216M | ($127M) | 0.7x | 0.7x | (1.3x) | - | |||
| $1M | ($6M) | 209.2x | 214.0x | (46.5x) | - | |||
| $2M | ($9M) | 157.0x | 40.4x | (29.0x) | (155.8x) | |||
| $34K | ($54M) | 3656.9x | 77904.5x | (2.3x) | (2.7x) | |||
| $72M | $17M | 4.8x | - | 20.8x | - | |||
| $7M | ($134M) | 33.9x | 38.1x | (1.7x) | (1.8x) | |||
| $180M | $19M | 2.1x | 2.1x | 20.0x | 14.5x | |||
This data is available for Pro users. Sign up to see all Triveni Bio competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Triveni Bio
| When was Triveni Bio founded? | Triveni Bio was founded in 2019. |
| Where is Triveni Bio headquartered? | Triveni Bio is headquartered in Boston, MA, United States. |
| Is Triveni Bio publicly listed? | No, Triveni Bio is a private, VC-backed company. |
| What is Triveni Bio's valuation? | Triveni Bio was last valued at $310M in its Series B in October 2024. |
| How much funding has Triveni Bio raised? | Triveni Bio has raised $272M across 3 funding rounds. |
| What was Triveni Bio's last funding round? | Triveni Bio's last funding round was a $65M Series C in June 2026, led by Ascenta Capital and Janus Henderson. |
| Who are Triveni Bio's investors? | Triveni Bio's investors include Atlas Venture, Fidelity, Alexandria Venture Investments, Invus, Deep Track Capital, OrbiMed, Viking Global Investors, Cormorant Asset Management, Polaris Partners, Janus Henderson and 3 others. |
| Which companies are comparable to Triveni Bio? | Companies comparable to Triveni Bio include Animalcare Group, CureGenetics, Vanda Pharmaceuticals, Pendulum Therapeutics, PanTera and Cuorips. |
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