Sector portfolio · Venture debt · United States

Hercules Capital's Biotech portfolio

Hercules Capital has backed 20 Biotech startups in rounds we track, $2.7B between them, shown by the stage each has reached. The best-funded is Dyne Therapeutics.

20startups backed
3stages
$2.7Braised between them
Stage not reportedbiggest stage

Hercules Capital's whole portfolioHercules Capital's profile

Stage not reported

11

Series B

5

Series C and later

4

Segment by segment

Stage not reported

11 startups · $1.9B raised

  1. Phathom PharmaceuticalsPhathom Pharmaceuticals is a biopharmaceutical company.United States$530M
  2. 4D Molecular Therapeutics4D Molecular Therapeutics designs, develops, and commercializes transformative gene therapeutic products for unmet medical conditions.United States$307M
  3. MoonLake ImmunotherapeuticsMoonLake Immunotherapeutics is a clinical-stage biopharmaceuticals company.Switzerland$275M
  4. X4 PharmaceuticalsX4 Pharmaceuticals is a clinical-stage oncology company developing oral small molecule CXCR4 antagonists for the treatment.United States$193M
  5. Replimune GroupReplimune Group develop the next generation of ‘oncolytic immunotherapies’ for the treatment of cancer.United States$140M
  6. Aprecia PharmaceuticalsAprecia Pharmaceuticals develops precision drug delivery systems and products.United States$123M
  7. SSebaciaSebacia is a commercial-stage dermatology company that develops an alternative to the topical and systemic drugs for the treatment of acne.United States$102M
  8. EloxxEloxx Pharmaceuticals is a clinical-stage biopharmaceutical company developing novel RNA-modulating drug candidates.United States$66M

Series B

5 startups · $338M raised

  1. Lucira HealthLucira Health is a biotechnology company that offers disposable test kits to detect RNA and DNA of infectious diseases.United States$95M
  2. SynOx TherapeuticsSynOx Therapeutics is a late-stage clinical biopharmaceutical company based in Dublin, Ireland.Ireland$92M
  3. Provention BioProvention Bio is a clinical stage biopharmaceutical dedicated to sourcing, developing, and commercializing novel therapeutics.United States$63M
  4. Locus BiosciencesLocus Biosciences develops CRISPR-engineered precision antibacterial platform designed to revolutionize the treatment of bacterial disease.United States$54M
  5. Gamma MedicaGamma Medica offers LumaGEM® MBI System, an FDA-cleared dual-headed digital imaging system.United States$34M

Series C and later

4 startups · $505M raised

  1. MedroboticsMedrobotics is a medical robotics company developing and commercializing the Flex Robotic System.United States$176M
  2. 908 Devices908devices manufactures battery-operated, hand-held chemical detection tools used in mass spectrometry.United States$168M
  3. NorthSea TherapeuticsNorthSea Therapeutics B.V.Netherlands$109M
  4. Sight SciencesSight Sciences is a medical device company that uses a computer-based device designed for the treatment of eye disease.United States$52M

How this map is made. Every startup here works in Biotech and has raised money in a round we track that names Hercules Capital as an investor. Each sits under the stage of its latest round. Rebuilt nightly; updated 15 November 2026.

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