# Flagship Pioneering's Biotech Investments: 25 Startups in Its Portfolio (2026) > The 25 Biotech startups Flagship Pioneering has backed, by stage: $3.1B raised between them. From the rounds we track; updated nightly. Source: https://millionrounds.com/portfolio-maps/flagship-pioneering-biotech-portfolio (Millionrounds; every figure on the page links to its filing or article) ## Stage not reported 8 - [Rubius Therapeutics](https://millionrounds.com/company/rubius-therapeutics) - [Kaleido BioSciences](https://millionrounds.com/company/kaleido-biosciences) - [Cygnal](https://millionrounds.com/company/cygnal) - [Metaphore Biotechnologies](https://millionrounds.com/company/metaphore-biotechnologies) - [Omega Therapeutics](https://millionrounds.com/company/omega-therapeutics) - [Tarveda Therapeutics](https://millionrounds.com/company/tarveda-therapeutics) - [Axcella](https://millionrounds.com/company/axcella) - [Apriori Bio](https://millionrounds.com/company/apriori-bio) ## Series A 6 - [Codiak Biosciences](https://millionrounds.com/company/codiak-biosciences) - [Vesalius Therapeutics](https://millionrounds.com/company/vesalius-therapeutics) - [ProFound Therapeutics](https://millionrounds.com/company/profound-therapeutics) - [Etiome](https://millionrounds.com/company/etiome) - [Torque](https://millionrounds.com/company/torque) - [*B* Boragen](https://millionrounds.com/company/boragen) ## Series C and later 6 - [KSQ Therapeutics](https://millionrounds.com/company/ksq-therapeutics) - [Senda Biosciences](https://millionrounds.com/company/senda-biosciences) - [Cellarity](https://millionrounds.com/company/cellarity) - [Visterra](https://millionrounds.com/company/visterra) - [Ring Therapeutics](https://millionrounds.com/company/ring-therapeutics) - [*C* Codiak](https://millionrounds.com/company/codiak) ## Series B 5 - [Denali Therapeutics](https://millionrounds.com/company/denali-therapeutics) - [Laronde](https://millionrounds.com/company/laronde) - [Repertoire Immune Medicines](https://millionrounds.com/company/repertoire-immune-medicines) - [Alltrna](https://millionrounds.com/company/alltrna) - [Evelo Biosciences](https://millionrounds.com/company/evelo-biosciences) ## Segment by segment ### Stage not reported 8 startups · $688M raised - [**Rubius Therapeutics**](https://millionrounds.com/company/rubius-therapeutics) Rubius has developed the technology to grow, genetically engineer and mature long-circulating Red-Cell Therapeutics. United States $300M - [**Kaleido BioSciences**](https://millionrounds.com/company/kaleido-biosciences) Kaleido BioSciences is a company working to design and analyze the microbiome system and provide adaptive solutions. United States $161M - [**Cygnal**](https://millionrounds.com/company/cygnal) Cygnal is a polling & survey research firm serving center-right consultant, caucus, committee, political & advocacy organizations. United States $65M - [**Metaphore Biotechnologies**](https://millionrounds.com/company/metaphore-biotechnologies) Metaphore Biotechnologies is a biotechnology company based in Cambridge, Massachusetts, founded in 2021 by Flagship Pioneering. United States $50M - [**Omega Therapeutics**](https://millionrounds.com/company/omega-therapeutics) Omega Therapeutics offers a proprietary epigenomic programming platform. United States $40M - [**Tarveda Therapeutics**](https://millionrounds.com/company/tarveda-therapeutics) Tarveda Therapeutics is a developer of miniature drug conjugates designed for the treatment of patients with a wide range of solid tumors. United States $36M - [**Axcella**](https://millionrounds.com/company/axcella) Axcella is a biotechnology company that treats diseases using endogenous metabolic modulators. United States $34M - [**Apriori Bio**](https://millionrounds.com/company/apriori-bio) Apriori Bio offers a platform for creating variant-resilient vaccines and provides real-time insights to prepare for future outbreaks. United States $1.1M ### Series A 6 startups · $335M raised - [**Codiak Biosciences**](https://millionrounds.com/company/codiak-biosciences) Codiak is a clinical-stage biopharmaceutical company focused on pioneering the development of exosome-based therapeutics. United States $100M - [**Vesalius Therapeutics**](https://millionrounds.com/company/vesalius-therapeutics) Vesalius Therapeutics is a biopharmaceutical company dedicated to redefining the understanding and treatment of diseases that acco United States $75M - [**ProFound Therapeutics**](https://millionrounds.com/company/profound-therapeutics) ProFound Therapeutics is creating profound impacts on the understanding of biology and disease and the ability to create therapeutics. United States $75M - [**Etiome**](https://millionrounds.com/company/etiome) Etiome is a biotechnology company based in Cambridge, Massachusetts, founded in 2021 by Flagship Pioneering. United States $50M - [**Torque**](https://millionrounds.com/company/torque) Torque is an open-source framework provider that specializes in self-configuring cloud systems for development operations (DevOps). United States $25M - [*B* **Boragen**](https://millionrounds.com/company/boragen) United States $10M ### Series C and later 6 startups · $683M raised - [**KSQ Therapeutics**](https://millionrounds.com/company/ksq-therapeutics) KSQ Therapeutics is using CRISPR technology within a powerful drug discovery engine to enable high-confidence drug development. United States $156M - [**Senda Biosciences**](https://millionrounds.com/company/senda-biosciences) Senda Biosciences is a therapeutics platform company leveraging unprecedented insights into the molecular connections between humans. United States $123M - [**Cellarity**](https://millionrounds.com/company/cellarity) Cellarity is a biotechnology therapeutics company based in Somerville, Massachusetts, founded in 2017 by Flagship Pioneering. United States $121M - [**Visterra**](https://millionrounds.com/company/visterra) Visterra researches on and develops therapeutic and diagnostic products for the treatment of infectious diseases. United States $120M - [**Ring Therapeutics**](https://millionrounds.com/company/ring-therapeutics) Ring Therapeutics is a biotechnology company based in Cambridge, Massachusetts, founded in 2017 by Flagship Pioneering. United States $87M - [*C* **Codiak**](https://millionrounds.com/company/codiak) United States $77M ### Series B 5 startups · $1.4B raised - [**Denali Therapeutics**](https://millionrounds.com/company/denali-therapeutics) Denali Therapeutics is dedicated to defeating neurodegenerative diseases to deliver safe and effective medicines to patients and families. United States $547M - [**Laronde**](https://millionrounds.com/company/laronde) Laronde develops an eRNA-based therapeutic platform that is capable of indicating diverse proteins inside the body. United States $440M - [**Repertoire Immune Medicines**](https://millionrounds.com/company/repertoire-immune-medicines) Repertoire Immune Medicines is a clinical stage biotechnology company. - $189M - [**Alltrna**](https://millionrounds.com/company/alltrna) Alltrna is a biotechnology company based in Cambridge, Massachusetts, founded in 2018. United States $109M - [**Evelo Biosciences**](https://millionrounds.com/company/evelo-biosciences) Evelo Biosciences is a biotechnology company that develops oral biologics for small intestinal axis with systemic therapeutic effects. United States $76M **How this map is made.** Every startup here works in Biotech and has raised money in a round we track that names Flagship Pioneering as an investor. Each sits under the stage of its latest round. Rebuilt nightly; updated 15 November 2026. ## More portfolio maps [All portfolios](https://millionrounds.com/portfolio-maps) [Portfolio map **Flagship Pioneering portfolio map** 39 startups · $4.5B](https://millionrounds.com/portfolio-maps/flagship-pioneering-portfolio-map)[Co-investors **Who invests with Flagship Pioneering** 15 co-investors](https://millionrounds.com/portfolio-maps/flagship-pioneering-co-investors)[Sector portfolio **Techstars' AI portfolio** 336 startups · $4.9B](https://millionrounds.com/portfolio-maps/techstars-ai-portfolio)[Sector portfolio **Alumni Ventures' AI portfolio** 302 startups · $36B](https://millionrounds.com/portfolio-maps/us-strategic-tech-fund-an-alumni-ventures-fund-ai-portfolio)[Sector portfolio **Andreessen Horowitz's AI portfolio** 259 startups · $426B](https://millionrounds.com/portfolio-maps/andreessen-horowitz-ai-portfolio)[Sector portfolio **General Catalyst's AI portfolio** 226 startups · $179B](https://millionrounds.com/portfolio-maps/general-catalyst-ai-portfolio) ## Raising from investors like Flagship Pioneering? 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