# S32's Biotech Investments: 18 Startups in Its Portfolio (2026) > The 18 Biotech startups S32 has backed, by stage: $2.4B raised between them. From the rounds we track; updated nightly. Source: https://millionrounds.com/portfolio-maps/s32-biotech-portfolio (Millionrounds; every figure on the page links to its filing or article) ## Series A 6 - [Inceptive](https://millionrounds.com/company/inceptive) - [Nested Therapeutics](https://millionrounds.com/company/nested-therapeutics) - [Exai Bio](https://millionrounds.com/company/exai-bio) - [Parthenon Therapeutics](https://millionrounds.com/company/parthenon-therapeutics) - [ImmuneID](https://millionrounds.com/company/immuneid) - [Delve Bio](https://millionrounds.com/company/delve-bio) ## Stage not reported 5 - [Celularity](https://millionrounds.com/company/celularity) - [Teckro](https://millionrounds.com/company/teckro) - [Sunbird Bio](https://millionrounds.com/company/sunbird-bio) - [TwinStrand Biosciences](https://millionrounds.com/company/twinstrand-biosciences) - [Manifold Bio](https://millionrounds.com/company/manifold-bio) ## Series B 4 - [MOMA Therapeutics](https://millionrounds.com/company/moma-therapeutics) - [*CT* Celsius Therapeutics](https://millionrounds.com/company/celsius-therapeutics) - [ROME Therapeutics](https://millionrounds.com/company/rome-therapeutics) - [AltPep](https://millionrounds.com/company/altpep) ## Series C and later 3 - [Relay Therapeutics](https://millionrounds.com/company/relay-therapeutics) - [Alector](https://millionrounds.com/company/alector) - [Aspen Neuroscience](https://millionrounds.com/company/aspen-neuroscience) ## Segment by segment ### Series A 6 startups · $408M raised - [**Inceptive**](https://millionrounds.com/company/inceptive) Inceptive is a biotechnology and artificial intelligence company founded in 2021 and based in Palo Alto, California, with addition United States $100M - [**Nested Therapeutics**](https://millionrounds.com/company/nested-therapeutics) Nested Therapeutics is a biotechnology company based in Cambridge, Massachusetts, founded in 2021. United States $90M - [**Exai Bio**](https://millionrounds.com/company/exai-bio) Exai Bio is a biotechnology company based in Palo Alto, California, founded in 2021. United States $68M - [**Parthenon Therapeutics**](https://millionrounds.com/company/parthenon-therapeutics) Parthenon Therapeutics is a biotech company inventing a novel class of anti-cancer therapies that reprogram the tumor microenvironment. United States $65M - [**ImmuneID**](https://millionrounds.com/company/immuneid) ImmuneID is a precision immunology company. - $50M - [**Delve Bio**](https://millionrounds.com/company/delve-bio) Delve Bio is a biotechnology company based in Boston, MA, founded in 2022. United States $35M ### Stage not reported 5 startups · $355M raised - [**Celularity**](https://millionrounds.com/company/celularity) Celularity is a clinical-stage biotechnology company developing off-the-shelf placental-derived allogeneic cell therapies. United States $270M - [**Teckro**](https://millionrounds.com/company/teckro) Teckro is an enterprise software company founded in 2015, headquartered in Limerick, Ireland, with additional offices in Dublin an Ireland $60M - [**Sunbird Bio**](https://millionrounds.com/company/sunbird-bio) Sunbird Bio is a biotechnology company based in Cambridge, Massachusetts, with operational headquarters in Singapore. Singapore $14M - [**TwinStrand Biosciences**](https://millionrounds.com/company/twinstrand-biosciences) TwinStrand Biosciences is a Seattle-based biotechnology company founded in 2015, focusing on Duplex SequencingTM, a highly accurat United States $10M - [**Manifold Bio**](https://millionrounds.com/company/manifold-bio) Manifold Bio is building a protein barcoding platform to bring the power of multiplexed measurement. United States $1.0M ### Series B 4 startups · $358M raised - [**MOMA Therapeutics**](https://millionrounds.com/company/moma-therapeutics) MOMA Therapeutics is a clinical-stage biotechnology company based in Cambridge, Massachusetts, founded in 2020. United States $150M - [*CT* **Celsius Therapeutics**](https://millionrounds.com/company/celsius-therapeutics) Celsius Therapeutics is a biotechnology company that develops precision medicines for cancer and autoimmune disease patients. United States $83M - [**ROME Therapeutics**](https://millionrounds.com/company/rome-therapeutics) ROME Therapeutics is developing novel therapies for cancer and autoimmune diseases by harnessing the power of the repeatome. United States $72M - [**AltPep**](https://millionrounds.com/company/altpep) AltPep is a Seattle-based biotechnology company founded in 2018 that focuses on developing early disease-modifying treatments and United States $53M ### Series C and later 3 startups · $1.3B raised - [**Relay Therapeutics**](https://millionrounds.com/company/relay-therapeutics) Relay therapeutics is a developer of an allosteric drug-discovery platform intended to apply computational techniques to protein motion. United States $932M - [**Alector**](https://millionrounds.com/company/alector) Alector is a biopharmaceutical company that develops therapies for the treatment of neurodegeneration diseases. United States $215M - [**Aspen Neuroscience**](https://millionrounds.com/company/aspen-neuroscience) Aspen Neuroscience is a biotechnology company that specializes in personalized cell therapies. United States $122M **How this map is made.** Every startup here works in Biotech and has raised money in a round we track that names S32 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) [Sector portfolio **S32's AI portfolio** 27 startups · $3.9B](https://millionrounds.com/portfolio-maps/s32-ai-portfolio)[Portfolio map **S32 portfolio map** 56 startups · $7.1B](https://millionrounds.com/portfolio-maps/s32-portfolio-map)[Co-investors **Who invests with S32** 54 co-investors](https://millionrounds.com/portfolio-maps/s32-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) ## Raising from investors like S32? 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