Sector portfolio · Private equity · United States
TCG's Biotech portfolio
TCG has backed 36 Biotech startups in rounds we track, $9.7B between them, shown by the stage each has reached. The best-funded is Abivax.
36startups backed
4stages
$9.7Braised between them
Stage not reportedbiggest stage
Funding by segment
- Stage not reported$5.7B17
- Series C and later$2.2B10
- Series B$1.2B5
- Series A$661M4
Where they are based
- United States30$7.5B
- France2$1.1B
- Switzerland2$771M
- Denmark1$210M
- United Kingdom1$100M
United States
France
Switzerland
Denmark
United KingdomFounded
5Earlier
112
213
114
315
416
217
718
319
20
321
22
123
124
25
26
3 without a founding year on record.
Total raised
- Under $1M0
- $1M to $10M1
- $10M to $50M1
- $50M to $250M20
- $250M to $1B14
- $1B and over0
Each dot is a startup: the year it was founded across, the total it has raised up (each line is ten times the one below). Pick a segment to pick it out.
33 of 36 startups shown; the rest have no founding year or amount on record.
- 1 to 2
- 3 to 7
- 8 to 24
- 25 to 99
- 100 and more
- United States30
- France2
- Switzerland2
- Denmark1
- United Kingdom1
Startups by country, 5 countries in all.
Segment by segment
Stage not reported
17 startups · $5.7B raised
AbivaxAbivax develops medicines that alter the body's natural immune system mechanisms.France$793M
Structure TherapeuticsStructure Therapeutics specializes in the discovery and development of drugs against a type of targets called GPCR.United States$748M
Mirum PharmaceuticalsMirum Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of therapies.United States$669M
Tyra BiosciencesTyra Biosciences is a biotechnology company targeting new pathways of acquired resistance in oncology with purpose-built drugs.United States$600M
Avalo TherapeuticsAvalo Therapeutics is a clinical-stage biopharmaceutical company.United States$501M
Immunic TherapeuticsImmunic is a biopharmaceutical company that develops a pipeline of selective oral immunology therapies.United States$400M
Century TherapeuticsCentury Therapeutics is a biotechnology company that develops cell therapies for hematological and solid tumor malignancies.United States$385M
ValnevaValneva focuses on the development and commercialization of prophylactic vaccines for infectious diseases.France$310M
Series C and later
10 startups · $2.2B raised
ADC TherapeuticsADC Therapeutics develops antibody drug conjugates and non-antibody drug conjugate products.Switzerland$646M
CORXEL PharmaceuticalsCORXEL Pharmaceuticals is a clinical-stage biopharmaceutical company founded in 2019, previously known as JiXing Pharmaceuticals.United States$287M
Beacon TherapeuticsBeacon Therapeutics is a clinical-stage ophthalmic gene therapy company founded in 2023, dedicated to saving and restoring vision United States$247M
ADCendoAdcendo ApS is a clinical-stage biotechnology company based in Frederiksberg, Copenhagen, Denmark, with operational offices in BosDenmark$210M
Aviceda TherapeuticsAviceda Therapeutics is a clinical-stage biotechnology company based in Cambridge, Massachusetts, founded in 2018.United States$208M
Magenta TherapeuticsMagenta Therapeutics is a new biotechnology company developing therapeutics that unlock the power of stem cell biology.United States$187M
RayzeBioRayzeBio is a pharmaceuticals company that develops targeted radiopharmaceutical drugs for cancer.United States$160M
SynthekineSynthekine is a biotechnology company based in Menlo Park, California, founded in 2018.United States$100M
Series B
5 startups · $1.2B raised
- CTCidara TherapeuticsCidara Therapeutics is a biotechnology company that specializes in the fields of healthcare and therapeutics.United States$463M
Mirador TherapeuticsMirador Therapeutics is a clinical-stage precision medicine company based in San Diego, California.United States$250M
Upstream BioUpstream Bio focuses on developing an antibody therapy for the treatment of severe asthma.United States$200M
Alkeus PharmaceuticalsAlkeus Pharmaceuticals is a Boston-based startup focused on treatments for serious ophthalmic conditions.United States$150M
VicebioVicebio is a biopharmaceutical company developing next-generation respiratory virus vaccines using the Molecular Clamp technology.United Kingdom$100M
Series A
4 startups · $661M raised
Disc MedicineDisc Medicine is a biopharmaceutical company that develops therapies for hematologic diseases and rare blood disorders.United States$275M
Alpine Immune SciencesAlpine Immune Sciences is an immunotherapy company focused on developing treatments for autoimmune and inflammatory diseases.United States$199M
Vor BiopharmaVor Biopharma is an immuno-oncology company that develops therapies for treating cancer.United States$117M
Versanis BioVersanis Bio discovers and develops medicines that address medical conditions prevalent in older adults.United States$70M
How this map is made. Every startup here works in Biotech and has raised money in a round we track that names TCG as an investor. Each sits under the stage of its latest round. Rebuilt nightly; updated 15 November 2026.
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