Treeline Biosciences

Treeline Biosciences Raises $421 Million in Undisclosed Round - October 17, 2024

Executive Summary

Treeline Biosciences is a secretive biotech company focused on developing innovative cancer therapeutics using AI-powered drug discovery platforms.

Funding Amount: $421 Million

Valuation: $1.1 Billion+ Total Raised

Round Type: Undisclosed Round

Announced: October 17, 2024

Headquarters: South San Francisco, California

Category: Biotechnology - Oncology

About Treeline Biosciences

Treeline Biosciences was founded in 2019 and is headquartered in South San Francisco, California.

Treeline Biosciences is a secretive biotech company focused on developing innovative cancer therapeutics using AI-powered drug discovery platforms.

Funding Round Details

Investment Amount

Treeline Biosciences successfully raised $421 Million in this Undisclosed Round funding round.

Lead Investors & Participants

43 Unnamed Investors (Consortium): The tight-lipped biotech raised nearly $422M from 43 unnamed institutional investors via SEC filing

Access Industries (AI Life Sciences) (Known Investor): AI Life Sciences, an affiliate of Access Industries, is among the company's backers

Arch Venture Partners (Venture Investor): Leading biotech venture capital firm

OrbiMed (Healthcare Investor): Premier healthcare investment firm

GV (Google Ventures) (Strategic Investor): Alphabet's venture capital arm

KKR (Growth Equity): Global investment firm

T. Rowe Price Associates (Crossover Investor): Large asset manager with growth equity investments

Fidelity Management & Research (Institutional Investor): Major mutual fund and asset management company

Use of Funds

The $421 million raise will support Treeline's clinical development programs for three cancer drug candidates now in clinical trials. This represents the second-largest biotech fundraising round of 2024, behind only Xaira Therapeutics' $1 billion launch.

Key Metrics & Achievements

• $1.1 billion total raised since founding in 2019
• Second-largest biotech fundraising round of 2024
• October's biggest fundraising round across all sectors
• Three cancer drug candidates now in clinical trials
• Operating in relative secrecy until 2024 emergence

Business Model

Treeline Biosciences uses AI-powered platforms to discover and develop novel cancer therapeutics. The company has operated largely in stealth mode, focusing on building a pipeline of oncology candidates before public emergence.

Market Opportunity & Competition

The AI-driven drug discovery space is crowded with well-funded competitors including Xaira Therapeutics ($1B raised), Recursion Pharmaceuticals (public), Insitro ($743M raised), and others. Treeline differentiates through its focus on oncology and its secretive approach to development.

This fundraising report was announced on October 17, 2024 and represents verified data from Crunchbase, Bloomberg, TechCrunch, and official company announcements.