# X4 Pharmaceuticals funding: rounds and investors > X4 Pharmaceuticals has raised $193M across 2 rounds since 2015. Investors include New Enterprise Associates, OrbiMed and Cormorant Asset Management. Source: https://millionrounds.com/company/x4-pharmaceuticals (Millionrounds; every figure on the page links to its filing or article) United States · [Funded startup](https://millionrounds.com/companies) # Who invested in *X4 Pharmaceuticals* 2 rounds we have observed, with the 6 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it. Biotech Funding summary Updated 26 Oct 2026 **$193M** raised across 2 rounds since 2015, from 2 sources **$37M** Venture **$155M** Round - **Latest round:** Round, $155M Oct 2025 - **Step-up i:** 4.1× - **Investors:** 6 See who backed them ## The funding story Each circle is a round, placed by date and sized by amount. The line above is the running total. 2015 2017 2019 2021 2023 2025 **$37M** Venture **$155M** Round - **First round:** Venture, $37M - **Biggest round:** $155M - **Between rounds:** 10.1 years ## The rounds - **Oct 2025** Round **$155M** *6 new* [New Enterprise Associates](https://millionrounds.com/fund/new-enterprise-associates) [OrbiMed](https://millionrounds.com/fund/orbimed) [Cormorant Asset Management](https://millionrounds.com/fund/cormorant-asset-management) [Hercules Capital](https://millionrounds.com/fund/hercules-capital) [SV Health Investors](https://millionrounds.com/fund/sv-health-investors) [Bain Capital Life Sciences](https://millionrounds.com/fund/bain-capital-life-sciences) Source recorded SEC filing: $85M sold, first sale Aug 2025 - **Aug 2015** Venture **$37M** No investor was named in the report. From a historical funding record SEC filing: $37M sold, first sale Aug 2015 ## Founders and team From X4 Pharmaceuticals's own website: 3 on the team. - **Adam Mostafa** Chief Financial Officer - **David Kirske** Chief Financial Officer - **Mark Baldry** Chief Commercial Officer ## Who was in which round The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led. **Venture** 2015 **Round** 2025 [New Enterprise Associates](https://millionrounds.com/fund/new-enterprise-associates) [OrbiMed](https://millionrounds.com/fund/orbimed) [Cormorant Asset Management](https://millionrounds.com/fund/cormorant-asset-management) [Hercules Capital](https://millionrounds.com/fund/hercules-capital) [SV Health Investors](https://millionrounds.com/fund/sv-health-investors) [Bain Capital Life Sciences](https://millionrounds.com/fund/bain-capital-life-sciences) ## Everyone who backed them [New Enterprise Associates](https://millionrounds.com/fund/new-enterprise-associates) VC firm **1** round [OrbiMed](https://millionrounds.com/fund/orbimed) Private equity **1** round [Cormorant Asset Management](https://millionrounds.com/fund/cormorant-asset-management) Private equity **1** round [Hercules Capital](https://millionrounds.com/fund/hercules-capital) Venture debt **1** round [SV Health Investors](https://millionrounds.com/fund/sv-health-investors) VC firm **1** round [Bain Capital Life Sciences](https://millionrounds.com/fund/bain-capital-life-sciences) Private equity **1** round Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=x4-pharmaceuticals). ## Also claim to have backed them This firm lists X4 Pharmaceuticals as a portfolio company on their own website, but no report of a round names it. They are the firms' own claims, kept apart from the rounds above. [K2 HealthVentures](https://millionrounds.com/fund/k2-healthventures) Private equity Per its own site ## Quick answers about X4 Pharmaceuticals ### Who invested in X4 Pharmaceuticals? X4 Pharmaceuticals's investors include New Enterprise Associates, OrbiMed, Cormorant Asset Management, Hercules Capital and SV Health Investors, and 1 more on record. ### How much has X4 Pharmaceuticals raised? X4 Pharmaceuticals has raised $193M across 2 rounds since 2015. ### When did X4 Pharmaceuticals last raise? X4 Pharmaceuticals's most recent round was an Undisclosed round of $155M in Oct 2025. ### What was X4 Pharmaceuticals's biggest round? Its most recent round, $155M in Oct 2025, is also its largest on record. ### Who backed X4 Pharmaceuticals first? X4 Pharmaceuticals's first round on record, in Oct 2025, was backed by New Enterprise Associates, OrbiMed and Cormorant Asset Management and 3 others. ### What stage is X4 Pharmaceuticals at? X4 Pharmaceuticals's latest named round is an Undisclosed round, in Oct 2025. ### Where is X4 Pharmaceuticals based? X4 Pharmaceuticals is based in the United States. ## Companies like X4 Pharmaceuticals In the same sector, and raised in the last eighteen months. [**Star Therapeutics** $325M · Oct 2026](https://millionrounds.com/company/star-therapeutics)[**Promaxo** $106M · Oct 2026](https://millionrounds.com/company/promaxo)[**Prolific Machines** $105M · Oct 2026](https://millionrounds.com/company/prolific-machines)[**IMIO** $19M · Oct 2026](https://millionrounds.com/company/imio)[**Clinical Ink** $24M · Oct 2026](https://millionrounds.com/company/clinical-ink)[**Rejuvenate Bio** $13M · Oct 2026](https://millionrounds.com/company/rejuvenate-bio) ## Find investors like these Search every investor by what they have actually funded, then narrow to your stage and market. Free. Open the investor searchOr these rounds in the app