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AN2 Therapeutics

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Innovative small molecule therapeutics targeting infectious diseases and oncology using boron chemistry

Menlo Park, United StatesFounded 2019Biotech & Life Sciences
Valuation $160M Market cap · 2026

About AN2 Therapeutics

AN2 Therapeutics, Inc. is a biopharmaceutical company specializing in the discovery and development of novel small molecule therapeutics derived from its proprietary boron chemistry platform. The company is focused on addressing unmet medical needs in infectious diseases and oncology. AN2 Therapeutics is currently advancing a pipeline that includes epetraborole, an investigational drug aimed at treating Mycobacterium avium complex (MAC), the most common type of nontuberculous mycobacteria (NTM) lung disease. The company also has compounds in development for Chagas disease, NTM, and melioidosis, along with early-stage programs targeting other infectious diseases and cancer. AN2 Therapeutics operates in the biopharmaceutical market, serving patients with serious and life-threatening conditions. Its business model involves obtaining non-dilutive funding from public and private agencies and foundations to advance its global health initiatives. The company generates revenue through the development and potential commercialization of its drug candidates, pending successful clinical trials and regulatory approvals.

Source: Dealroom company data

At a glance

Status
Listed
Founded
2019
Headquarters
Menlo Park, United States
Listing
IPO 2022
Employees
38
Open positions
None listed
Dealroom signal
76.4/100
Industry
Health
Sub-industry
BioTechnology
Sector
Biotech & Life Sciences, Biotechnology, Biotech and Pharma, Hard Tech, DT and LS, science-based
Business model
Manufacturing
Client focus
b2b

Funding history

5 recorded events

Company financing events and reported valuations.

Deal typeDateAmountValuationInvestorsSource
PRIVATE PLACEMENT NON VC✓Other financing Mar 2026 $40M — Coastlands Capital · Vivo Capital · Commodore Capital ↗
POST IPO EQUITY✓Other financing Aug 2023 $70M — Frazier Healthcare Partners · RA Capital Management · Marshall Wace · Avidity Partners ↗
Showing the latest 2 of 5 recorded eventsBook a demo for the full funding history →

Financials

Revenue, earnings and profit over time

Revenue, earnings and other financial measures where available. Years marked “E” are estimates.

YearRevenueGrowthEBITDAMarginProfitMarginR&D
2026 $0 — −$38M — −$35M — $25M
2025 $0 — −$38M — −$35M — $25M
2024 $0 — −$52M — −$51M — $40M
2023 $0 — −$70M — — $55M
2022 $0 — −$42M — —
2021 — — −$22M — —
2020 — — −$7.3M — —
Company filings, research estimates and Dealroom dataBook a demo for the full financial model →

Growth signals

AN2 Therapeutics website traffic

Latest recorded traffic for AN2 Therapeutics is 2.9K monthly website visits, up 0% over the last three months. AN2 Therapeutics's team grew 8.6% over the past year.

Latest monthly visits2.9K 3-month web change0% 1-year team growth+8.6%
Summary metrics are public; monthly history is available with a demoCompare with peers →

Similar companies

Closest operating peers by Dealroom taxonomy

Company identity and context are open; selected comparison metrics preview what is available on the platform.

Showing 8 of the closest matchesCompare every metric →

Investments and acquisitions

Capital deployed

Recent portfolio relationships for companies that also act as investors or acquirers.

Investors

18 investors on the cap table

From Dealroom's funding and investor records, grouped by the round each investor first entered.

Series A7 investors entered at this stage

  • Mountain Group Partners
  • RA Capital Management
  • BVF Partners
  • Monashee Investment Management
  • Surveyor Capital
  • Avidity Partners
  • Hatteras Venture Partners

Series B and later5 investors entered at this stage

Other known investors6 additional known investors

Team profiled 2 named & role-tagged
Founders Hidden — book a demo/100 quality score
Key operators 2 quality Hidden — book a demo/100
Potential founders Hidden — book a demo likely future founders
Startup mafia Hidden — book a demo alumni-founded startups
Talent movements Hidden — book a demo in · Hidden — book a demo out past 12 months

Source: Dealroom Talent Intelligence.

Global footprint

Workforce and web traffic by country
Workforce by country
1 countries with
team presence
🇺🇸 United States100%
1 country shown

Market sentiment

Posts on X, past 7 days

An AI-synthesised read of the highest-engagement posts about AN2 Therapeutics on X, ranked by likes and reposts, corporate channels excluded.

Reading the room on X — pulling top posts and synthesizing themes…

Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour

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