Series E Funded Biotechnology Startups
Among the 22 Series E rounds shown, California leads by company count with 8 — including Benchling and Neurona Therapeutics in San Francisco, Carmot Therap…
Among the 22 Series E rounds shown, California leads by company count with 8 — including Benchling and Neurona Therapeutics in San Francisco, Carmot Therapeutics and Perfect Day in Berkeley, and CG Oncology in Irvine — followed by Massachusetts with 6, spanning Boston, Cambridge, Watertown, Lexington, and Burlington. Round sizes range from $20M (RedShift BioAnalytics, October 2021) to $200M (Benchling, April 2021), with ten rounds reaching $100M or above.
The data spans April 2021 through March 2025, with six rounds closing in each of 2021, 2023, and 2024. The most recent entry is Shoulder Innovations' $40M round on March 10, 2025, based in Holland, Michigan. Subsectors represented include CNS therapeutics (Neurona Therapeutics, Alzheon), metabolic disease (Beta Bionics, Carmot Therapeutics), oncology (CG Oncology), microbiome therapy (Vedanta Biosciences), food biotechnology (Perfect Day), and biotech infrastructure (Benchling, Elligo Health Research).
Most recent rounds
22 shownRelated listings
Frequently asked
What are the largest Series E rounds among these biotechnology companies?
Benchling raised the largest round at $200M in April 2021 (San Francisco), followed by Carmot Therapeutics and Inscripta at $150M each — May 2023 and April 2021, respectively — and Elligo Health Research at $135M in September 2021 (Austin). Ten of the 22 rounds shown reached $100M or above.
Which cities and states are most represented in this dataset?
California accounts for 8 of the 22 companies, with concentrations in San Francisco (Benchling, Neurona Therapeutics), Berkeley (Carmot Therapeutics, Perfect Day), and single entries in Burlingame, Del Mar, Irvine, and San Jose. Massachusetts follows with 6 companies across Boston, Cambridge, Watertown, Lexington, and Burlington.
What is the typical deal size at Series E in this biotech group?
The median round across these 22 closes is approximately $86M. The range extends from $20M (RedShift BioAnalytics, October 2021) to $200M (Benchling, April 2021), with 13 of the 22 rounds at $60M or above.
How is funding activity distributed across years in this dataset?
Six rounds closed in each of 2021 (April–December), 2023 (April–December), and 2024 (January–November), making those the three most active periods shown. Three rounds closed in 2022 — CG Oncology ($120M), TriSalus Life Sciences ($24M), and VitalConnect ($39M) — and one in 2025 (Shoulder Innovations, March 10).
Do any Series E biotech companies in this data come from outside California and Massachusetts?
Yes — Shoulder Innovations (Holland, Michigan), Noveome Biotherapeutics (Pittsburgh, Pennsylvania), Vero Biotech (Atlanta, Georgia), Elligo Health Research (Austin, Texas), Inscripta (Boulder, Colorado), TriSalus Life Sciences (Westminster, Colorado), and Ecovative Design (Albany, New York) all represent markets outside the two dominant states.
What subsectors beyond drug discovery are represented at Series E?
The dataset includes biotech R&D software (Benchling, $200M), precision fermentation food technology (Perfect Day, $90M), mycelium-based biomaterials (Ecovative Design, $30M), wearable cardiac biosensors (VitalConnect, $39M), and clinical research services (Elligo Health Research, $135M), alongside therapeutic platforms in oncology, CNS, microbiome, and metabolic disease.
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