Funded Biotechnology Startups in Salt Lake City
Salt Lake City's biotechnology sector has seen disclosed round sizes range from a $10K Vistim Labs raise in June 2023 to R-Zero's $105M Series C closed in…
Salt Lake City's biotechnology sector has seen disclosed round sizes range from a $10K Vistim Labs raise in June 2023 to R-Zero's $105M Series C closed in February of that same year. The 14 companies shown span August 2021 through February 2025, with three closings concentrated in a five-day window at the start of February 2025 — Sera Prognostics ($50M), Rebel Medicine ($5M Series A), and iVeena ($3M Series B).
Round type disclosure is uneven across this group: 8 of the 14 rounds carry a Series Unknown classification, a pattern common among biotech issuers using convertible instruments or private placements that don't map to standard equity stage labels. Seed-stage activity includes Paterna Biosciences ($6M, October 2024), Applied Biosensors ($680K, July 2023), and Known Medicine ($7M, August 2021). Clene Nanomedicine's $45M Series Unknown in October 2023 and Co-Diagnostics' undisclosed round from July 2023 represent the mid-dataset activity between R-Zero's 2023 Series C and the 2025 cluster.
Most recent rounds
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Frequently asked
What are the largest disclosed rounds among these 14 Salt Lake City biotech companies?
R-Zero leads at $105M via a Series C closed in February 2023, followed by Sera Prognostics at $50M in February 2025 and Clene Nanomedicine at $45M in October 2023. Those three rounds account for the majority of disclosed capital across this dataset.
Which companies closed rounds most recently?
Sera Prognostics, Rebel Medicine, and iVeena all closed within a five-day window in early February 2025 — iVeena on February 5, Rebel Medicine on February 6, and Sera Prognostics on February 10. The next prior closing was Paterna Biosciences in October 2024.
What funding stages are represented, and which is most common?
Series Unknown is the dominant classification, applying to 8 of the 14 rounds. Three companies raised seed rounds — Paterna Biosciences ($6M), Known Medicine ($7M), and Applied Biosensors ($680K). Rebel Medicine represents the lone Series A, iVeena the lone Series B, and R-Zero the lone Series C.
How wide is the range of deal sizes in this group?
Disclosed amounts span from $10K (Vistim Labs, June 2023) to $105M (R-Zero, February 2023), with one undisclosed amount from Co-Diagnostics in July 2023. Excluding the top three rounds, most companies raised between $2M and $13M.
Is there a visible gap in funding activity across the timeframe shown?
No rounds appear between October 2021 and November 2022 in this dataset — a gap of roughly 13 months. Activity resumes with Kiora Pharmaceuticals in November 2022 and accelerates through 2023, with six closings between February and October of that year.
Which seed-stage companies have raised most recently and may be building out early commercial teams?
Paterna Biosciences closed a $6M seed round in October 2024, the most recent seed-stage raise in the dataset. Applied Biosensors ($680K, July 2023) is the earliest-stage company by both round size and classification among the more recent closings.
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