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

Triveni Bio Overview

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

United StatesBoston, MA

Status

Privately held

Customer focus

B2B

Revenue model

Licensing

Valuation

$310M (Oct 2024)

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

Triveni Bio valuation by funding round
DateStageValuation
Oct 2024Series 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

Triveni Bio funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jun 2026Series CAscenta Capital (lead); Janus Henderson (lead); Fidelity; Alexandria Venture Investments; Atlas Venture; Goldman Sachs; Deep Track Capital$65M--
Oct 2024Series BGoldman Sachs Asset Management (lead); Fidelity; Invus; Atlas Venture; Deep Track Capital; OrbiMed; Viking Global Investors; Cormorant Asset Management$115M$310MTriveni 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 2023Series AAtlas 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

Investors in Triveni Bio by funding rounds participated
InvestorHQRoundsRoleFirst check
Atlas VentureUnited StatesUnited States3LeadOct 2023
FidelityUnited StatesBoston, MA2ParticipantOct 2024
Alexandria Venture InvestmentsUnited StatesLos Angeles, CA2ParticipantOct 2023
InvusUnited StatesNew York City, NY2ParticipantOct 2023
Deep Track CapitalUnited StatesGreenwich, CT2ParticipantOct 2024
OrbiMedUnited StatesNew York City, NY2ParticipantOct 2023
Viking Global InvestorsUnited StatesStamford, CT2ParticipantOct 2023
Cormorant Asset ManagementUnited StatesBoston, MA2LeadOct 2023
Polaris PartnersUnited StatesBoston, MA1ParticipantOct 2023
Janus HendersonUnited StatesLondon1LeadJun 2026
Goldman SachsUnited StatesNew York City, NY1ParticipantJun 2026

This data is available for Pro users. Sign up to see all 13 Triveni Bio 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

Triveni Bio Competitors

Triveni Bio competitors include listed companies like Animalcare Group, Vanda Pharmaceuticals and Cuorips, and private ones like CureGenetics, Pendulum Therapeutics and PanTera.

Public and private companies comparable to Triveni Bio
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Animalcare GroupUnited KingdomUnited KingdomPublicly listed$121M$24M$311M2.7x
CureGeneticsChinaSuzhouPrivate--$311M-
Vanda PharmaceuticalsUnited StatesUnited StatesPublicly listed$216M($127M)$309M0.7x
Pendulum TherapeuticsUnited StatesSan Francisco, CAPrivate$40M-$308M7.7x
PanTeraBelgiumMolPrivate--$313M-
CuoripsJapanJapanPublicly listed$1M($6M)$307M214.0x

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 FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Animalcare Group$121M$24M2.7x2.7x13.6x13.6x
Vanda Pharmaceuticals$216M($127M)0.7x0.7x(1.3x)-
Cuorips$1M($6M)209.2x214.0x(46.5x)-
AprilBio$2M($9M)157.0x40.4x(29.0x)(155.8x)
InflaRx$34K($54M)3656.9x77904.5x(2.3x)(2.7x)
Lavipharm$72M$17M4.8x-20.8x-
Fate Therapeutics$7M($134M)33.9x38.1x(1.7x)(1.8x)
Medy-Tox$180M$19M2.1x2.1x20.0x14.5x

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.

See companies similar to Triveni Bio

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