Amount: $438 million
Round: Series A-6
Investors: Inter IKEA Group—the furniture giant’s venture arm—along with high-net-worth individuals, sovereign funds, family offices and a single venture capital firm: Vickers Venture Partners
The scoop: Founded in 2008, Samumed has worked under the radar for most of its lifetime, quietly chugging away at regenerative treatments targeting the Wnt pathway. The San Diego-based biotech came out of the shadows back in 2016, announcing that it had raised $220 million from private investors—including Ikea’s private venture firm, “anonymous high-net-worth individuals and one venture capital firm,” according to Forbes—and was in the process of raising another $100 million, giving it a valuation of $12 billion.
It bolstered its coffers with a $438 million A-6 round in August 2018, giving it the runway to advance a pipeline of treatments for diseases such as osteoarthritis, psoriasis and Alzheimer’s disease. That funding put Samumed in the "fortunate position to both move our later stage programs to commercialization, as well as expand on our earlier stage science and clinical portfolio,” CEO Osman Kibar said at the time.
Now, its most advanced program, in androgenetic alopecia, is in phase 3, as is the phase 3-stage osteoarthritis program nipping at its heels. The rest of Samumed’s assets are at varying stages of phase 1 development. Kibar told Endpoints News last summer that the company expects its first approval in the next few years. Its latest raise “takes us there (including all our programs, clinical and preclinical pipeline), plus launch cost, plus some extra cushion,” Kibar said.