Power Law outcomes
Biotech & Life Sciences unicorns
Dealroom tracks 499 unicorns in Biotech & Life Sciences — companies that reached a verified $1B+ valuation — worth $1.8T combined, plus 145 thoroughbreds generating $100M+ in annual revenue. Updated July 2026.
499Unicorns ($1B+ valuation)
42Valued at $10B or more
145Thoroughbreds ($100M+ revenue)
$1.8TCombined unicorn valuation
Every Biotech & Life Sciences unicorn
All 499 companies in Biotech & Life Sciences that reached a verified $1B+ valuation, ranked by latest valuation. Click a company for its full Dealroom profile.
| # | Company | HQ city | Country | Founded | Valuation | Status |
|---|---|---|---|---|---|---|
| 1 | argenx | Ghent | Belgium | 2008 | $43B | IPO 2014 |
| 2 | Seagen | Bothell | United States | 1998 | $42B | IPO 2001 |
| 3 | WuXi AppTec | Huangpu | China | 2000 | $41B | IPO 2018 |
| 4 | Celltrion | Incheon | South Korea | 2002 | $39B | IPO 2005 |
| 5 | Alexion Pharmaceuticals | Boston | United States | 1992 | $39B | IPO 1996 |
| 6 | Alnylam Pharmaceuticals | Cambridge | United States | 2002 | $39B | IPO 2004 |
| 7 | Actelion Pharmaceuticals | Baden | Switzerland | 1997 | $30B | IPO 2013 |
| 8 | BeOne Medicines | Dongcheng District | China | 2010 | $29B | IPO 2016 |
| 9 | Horizon Therapeutics | Dublin | Ireland | 2005 | $28B | IPO 2011 |
| 10 | Revolution Medicines | Redwood City | United States | 2015 | $28B | IPO 2020 |
| 11 | Natera | Austin | United States | 2004 | $25B | IPO 2015 |
| 12 | Exact Sciences | Madison | United States | 1995 | $22B | IPO 2001 |
| 13 | Genmab | Copenhagen | Denmark | 1999 | $20B | IPO 2000 |
| 14 | Veeva Systems | Pleasanton | United States | 2007 | $19B | IPO 2013 |
| 15 | Illumina | San Diego | United States | 1998 | $19B | IPO 2000 |
| 16 | Altos Labs | Los Altos | United States | 2021 | $18B | Private |
| 17 | Innovent Biologics | Suzhou Shi | China | 2011 | $16B | IPO 2018 |
| 18 | Jazz Pharmaceuticals | Dublin | Ireland | 2003 | $16B | IPO 2007 |
| 19 | Roivant Sciences | New York City | United States | 2014 | $15B | Private |
| 20 | WuXi Biologics | Xuancheng | China | 2000 | $15B | IPO 2017 |
| 21 | BridgeBio | Palo Alto | United States | 2014 | $15B | IPO 2019 |
| 22 | Akeso Biopharma | Zhongshan | China | 2012 | $15B | IPO 2020 |
| 23 | Medivation | San Francisco | United States | 2003 | $14B | Private |
| 24 | Ascendis Pharma | Gentofte Municipality | Denmark | 2007 | $14B | IPO 2015 |
| 25 | Moderna Therapeutics | Cambridge | United States | 2010 | $14B | IPO 2018 |
| 26 | MyoKardia | San Francisco | United States | 2012 | $13B | IPO 2015 |
| 27 | Shockwave Medical | Santa Clara | United States | 2009 | $13B | IPO 2019 |
| 28 | Penumbra | Alameda | United States | 2004 | $12B | IPO 2015 |
| 29 | Shanghai Fosun Pharmaceutical | Baoshan District | China | 1994 | $12B | IPO 2012 |
| 30 | Kite Pharma | Santa Monica | United States | 2009 | $12B | IPO 2014 |
| 31 | United Imaging Healthcare | Jing'an District | China | 2011 | $12B | IPO 2022 |
| 32 | Biosplice Therapeutics | San Diego | United States | 2008 | $12B | Private |
| 33 | Bioverativ | Waltham | United States | 2016 | $12B | Private |
| 34 | Guardant Health | Palo Alto | United States | 2012 | $12B | IPO 2018 |
| 35 | Globus Medical | Lower Providence Township | United States | 2003 | $11B | IPO 2012 |
| 36 | Karuna Therapeutics | Boston | United States | 2009 | $11B | IPO 2019 |
| 37 | Madrigal Pharmaceuticals | West Conshohocken | United States | 2011 | $11B | IPO 2016 |
| 38 | Insulet | Acton | United States | 2000 | $11B | IPO 2007 |
| 39 | Acceleron Pharma | Cambridge | United States | 2004 | $11B | IPO 2013 |
| 40 | Exelixis | San Francisco | United States | 1994 | $10B | IPO 2000 |
| 41 | Colossal | Austin | United States | 2021 | $10B | Private |
| 42 | Stemcentrx | South San Francisco | United States | 2008 | $10B | Private |
| 43 | Verona Pharma | London | United Kingdom | 2005 | $10B | IPO 2017 |
| 44 | Neuralink | Fremont | United States | 2016 | $9.7B | Private |
| 45 | Tempus | Chicago | United States | 2015 | $9.6B | IPO 2024 |
| 46 | BioMarin Pharmaceutical | San Rafael | United States | 1997 | $9.5B | IPO 1999 |
| 47 | Halozyme Therapeutics | San Diego | United States | 1998 | $9.5B | IPO 2004 |
| 48 | Axsome Therapeutics | New York City | United States | 2012 | $9.4B | IPO 2015 |
| 49 | Arrowhead Pharmaceuticals | Pasadena | United States | 2003 | $9.3B | Private |
| 50 | Cidara Therapeutics | San Diego | United States | 2012 | $9.2B | IPO 2015 |
| 51 | Juno Therapeutics | Seattle | United States | 2013 | $9B | IPO 2014 |
| 52 | Prometheus Biosciences | San Diego | United States | 1995 | $8.9B | IPO 2021 |
| 53 | Haisco | Lhoka | China | 2000 | $8.6B | IPO 2012 |
| 54 | BioNTech | Mainz | Germany | 2008 | $8.6B | IPO 2019 |
| 55 | Praxis Precision Medicines | Cambridge | United States | 2015 | $8.4B | IPO 2020 |
| 56 | Blueprint Medicines | Cambridge | United States | 2011 | $8.3B | IPO 2015 |
| 57 | Loxo Oncology | York | United Kingdom | 2013 | $8B | IPO 2014 |
| 58 | GRAIL | Menlo Park | United States | 2016 | $8B | Private |
| 59 | Cytokinetics | South San Francisco | United States | 1998 | $7.8B | IPO 2004 |
| 60 | Shenzhen Salubris Pharmaceuticals | Shenzhen | China | 1998 | $7.8B | IPO 2009 |
| 61 | ImmunityBio | Culver City | United States | 2014 | $7.5B | IPO 2015 |
| 62 | OneOncology | Nashville | United States | 2018 | $7.4B | Private |
| 63 | Acerta Pharma | Oss | Netherlands | 2013 | $7B | Private |
| 64 | Cerevel Therapeutics | Cambridge | United States | 2018 | $6.9B | Private |
| 65 | Krystal Biotech | Pittsburgh | United States | 2016 | $6.8B | IPO 2017 |
| 66 | Vaxcyte | Foster City | United States | 2013 | $6.8B | IPO 2020 |
| 67 | Glaukos | Aliso Viejo | United States | 1998 | $6.7B | IPO 2015 |
| 68 | Apogee Therapeutics | Waltham | United States | 2022 | $6.6B | IPO 2023 |
| 69 | Momenta Pharmaceuticals | Cambridge | United States | 2001 | $6.5B | IPO 2004 |
| 70 | Nuvalent | Cambridge | United States | 2017 | $6.5B | IPO 2021 |
| 71 | Reata Pharmaceuticals | Plano | United States | 2002 | $6.4B | IPO 2016 |
| 72 | Sotera Health | Broadview Heights | United States | 2017 | $6.3B | IPO 2020 |
| 73 | Arcellx | Gaithersburg | United States | 2015 | $6.3B | IPO 2022 |
| 74 | Merus | Utrecht | Netherlands | 2003 | $6.2B | IPO 2016 |
| 75 | PTC Therapeutics | South Plainfield | United States | 1998 | $6.1B | IPO 2013 |
| 76 | Benchling | San Francisco | United States | 2012 | $6.1B | Private |
| 77 | MGI Tech | Shenzhen | China | 2016 | $6B | Private |
| 78 | Spyre Therapeutics | Aeglea BioTherapeutics | Waltham | United States | 2013 | $6B | IPO 2016 |
| 79 | Centessa Pharmaceuticals | Boston | United States | 2021 | $5.9B | IPO 2021 |
| 80 | Kymera Therapeutics | Cambridge | United States | 2016 | $5.9B | IPO 2020 |
| 81 | Medidata Solutions | New York City | United States | 1999 | $5.8B | IPO 2009 |
| 82 | Protagonist Therapeutics | Newark | United States | 2006 | $5.8B | IPO 2016 |
| 83 | Belite Bio | San Diego | United States | 2018 | $5.7B | IPO 2022 |
| 84 | Celcuity | Minneapolis | United States | 2012 | $5.6B | IPO 2017 |
| 85 | Cogent Biosciences | Cambridge | United States | 2014 | $5.6B | IPO 2018 |
| 86 | TG Therapeutics | New York City | United States | 2011 | $5.5B | IPO 2003 |
| 87 | Shanghai Henlius Biotech | Huangpu | China | 2009 | $5.4B | IPO 2019 |
| 88 | Rhythm Pharmaceuticals | Boston | United States | 2008 | $5.3B | IPO 2017 |
| 89 | Abcam | Cambridge | United Kingdom | 1998 | $5.3B | IPO 2005 |
| 90 | Foundation Medicine | Boston | United States | 2010 | $5.3B | IPO 2013 |
| 91 | Apellis Pharmaceuticals | Waltham | United States | 2008 | $5.3B | IPO 2017 |
| 92 | Anacor Pharmaceutical | Palo Alto | United States | 2000 | $5.2B | IPO 2010 |
| 93 | Biocytogen | Wakefield | United States | 2009 | $5.1B | IPO 2022 |
| 94 | TESARO | Waltham | United States | 2010 | $5.1B | IPO 2012 |
| 95 | Terns Pharmaceuticals | Foster City | United States | 2017 | $5.1B | IPO 2021 |
| 96 | Retro Biosciences | Redwood City | United States | 2020 | $5B | Private |
| 97 | CG Oncology | Irvine | United States | 2010 | $5B | IPO 2024 |
| 98 | Forty Seven | Menlo Park | United States | 2015 | $4.9B | IPO 2018 |
| 99 | Metsera | New York City | United States | 2022 | $4.9B | IPO 2025 |
| 100 | Inari Medical | Aliso Viejo | United States | 2011 | $4.9B | IPO 2020 |
| 101 | Xenon Pharmaceuticals | Burnaby | Canada | 1996 | $4.8B | IPO 2014 |
| 102 | Immunovant’s | New York City | United States | 2018 | $4.8B | IPO 2019 |
| 103 | Amicus Therapeutics | Philadelphia | United States | 2002 | $4.7B | IPO 2007 |
| 104 | Caris Life Sciences | Irving | United States | 1996 | $4.7B | IPO 2025 |
| 105 | Color Health | Burlingame | United States | 2013 | $4.6B | Private |
| 106 | Alpine Immune Sciences | Seattle | United States | 2015 | $4.5B | IPO 2015 |
| 107 | Spark Therapeutics | Philadelphia | United States | 2013 | $4.3B | IPO 2015 |
| 108 | Ablynx | Ghent | Belgium | 2001 | $4.3B | IPO 2007 |
| 109 | Dianthus Therapeutics | New York City | United States | 2019 | $4.1B | IPO 2023 |
| 110 | iRhythm Technologies | San Francisco | United States | 2006 | $4.1B | IPO 2016 |
| 111 | InSilico Medicine | Cambridge | United States | 2014 | $4.1B | IPO 2025 |
| 112 | AskBio | Durham | United States | 2001 | $4B | Private |
| 113 | Intarcia Therapeutics | Boston | United States | 1997 | $3.9B | Private |
| 114 | Advanced Accelerator Applications | Saint-Genis-Pouilly | France | 2002 | $3.9B | IPO 2015 |
| 115 | Akero Therapeutics | Cambridge | United States | 2017 | $3.8B | IPO 2019 |
| 116 | Resilience | San Diego | United States | 2020 | $3.8B | Private |
| 117 | RayzeBio | San Diego | United States | 2020 | $3.7B | IPO 2023 |
| 118 | Legend Biotech | Franklin Township | United States | 2014 | $3.7B | IPO 2020 |
| 119 | Principia BioPharma | San Francisco | United States | 2008 | $3.7B | IPO 2018 |
| 120 | Dermapharm | Grünwald | Germany | 1991 | $3.7B | IPO 2018 |
| 121 | Axonics | Irvine | United States | 2012 | $3.6B | IPO 2018 |
| 122 | Kiniksa Pharmaceuticals | Lexington | United States | 2015 | $3.6B | IPO 2018 |
| 123 | Isomorphic Labs | London | United Kingdom | 2021 | $3.6B | Private |
| 124 | Telix Pharmaceuticals | Melbourne | Australia | 2015 | $3.6B | IPO 2017 |
| 125 | Cathay Industrial Biotech | Huangpu | China | 1997 | $3.5B | IPO 2020 |
| 126 | TransMedics | Andover | United States | 1998 | $3.4B | IPO 2019 |
| 127 | Liquidia Technologies | Morrisville | United States | 2004 | $3.4B | IPO 2018 |
| 128 | Twist Bioscience | South San Francisco | United States | 2013 | $3.4B | IPO 2018 |
| 129 | Camurus | Lund Municipality | Sweden | 1991 | $3.4B | IPO 2015 |
| 130 | Dicerna Pharmaceuticals | Watertown | United States | 2007 | $3.3B | IPO 2014 |
| 131 | Curaleaf | Wakefield | United States | 2010 | $3.3B | IPO 2018 |
| 132 | SpringWorks Therapeutics | New York City | United States | 2017 | $3.3B | IPO 2019 |
| 133 | Kelonia Therapeutics | Boston | United States | 2020 | $3.3B | Private |
| 134 | Judi Health | New York City | United States | 2017 | $3.3B | Private |
| 135 | Translate Bio | Cambridge | United States | 2011 | $3.2B | IPO 2018 |
| 136 | Mirati Therapeutics | San Diego | United States | 2013 | $3.2B | IPO 2013 |
| 137 | Olink Proteomics | Uppsala kommun | Sweden | 2016 | $3.2B | Private |
| 138 | Bioarctic | Stockholms kommun | Sweden | 2003 | $3.2B | IPO 2017 |
| 139 | Tubulis | Planegg | Germany | 2019 | $3.1B | Private |
| 140 | CRISPR Therapeutics | Basel | Switzerland | 2013 | $3.1B | IPO 2016 |
| 141 | GenScript | Piscataway Township | United States | 2002 | $3.1B | IPO 2015 |
| 142 | Halda Therapeutics | New Haven | United States | 2018 | $3B | Private |
| 143 | Viela Bio | Gaithersburg | United States | 2018 | $3B | IPO 2019 |
| 144 | Crinetics Pharmaceuticals | San Diego | United States | 2008 | $3B | IPO 2018 |
| 145 | OliX Pharmaceuticals | Suwon | South Korea | 2010 | $3B | IPO 2018 |
| 146 | BillionToOne | Menlo Park | United States | 2016 | $3B | IPO 2025 |
| 147 | EyeBio | London | United Kingdom | 2021 | $3B | Private |
| 148 | DXY | Dongcheng District | China | 2000 | $3B | Private |
| 149 | DIAGENS | Hangzhou | China | 2016 | $2.9B | IPO 2026 |
| 150 | Everly Health | Austin | United States | 2015 | $2.9B | Private |
| 151 | Tango Therapeutics | Boston | United States | 2017 | $2.9B | Private |
| 152 | Genomic Health | Redwood City | United States | 2000 | $2.8B | IPO 2005 |
| 153 | BioTelemetry | Malvern | United States | 1994 | $2.8B | IPO 2013 |
| 154 | Edgewise Therapeutics | Boulder | United States | 2017 | $2.8B | IPO 2021 |
| 155 | XtalPi | Shenzhen | China | 2014 | $2.8B | IPO 2024 |
| 156 | VelosBio | San Diego | United States | 2017 | $2.8B | Private |
| 157 | Myovant Sciences | Brisbane | United States | 2016 | $2.7B | IPO 2016 |
| 158 | MorphoSys | Planegg | Germany | 1992 | $2.7B | IPO 2018 |
| 159 | Carmot Therapeutics | San Francisco | United States | 2008 | $2.7B | Private |
| 160 | Xaira Therapeutics | Brisbane | United States | 2023 | $2.7B | Private |
| 161 | Kailera Therapeutics | Waltham | United States | 2024 | $2.7B | IPO 2026 |
| 162 | Polyplus-transfection | Illkirch | France | 2001 | $2.6B | Private |
| 163 | Innocare | Haidian | China | 2015 | $2.6B | IPO 2020 |
| 164 | ElevateBio | Waltham | United States | 2018 | $2.6B | Private |
| 165 | Erasca | San Diego | United States | 2018 | $2.6B | IPO 2021 |
| 166 | Kodiak Sciences | Palo Alto | United States | 2009 | $2.6B | IPO 2018 |
| 167 | Synthorx | San Diego | United States | 2014 | $2.5B | IPO 2018 |
| 168 | Genoa | Tukwila | United States | 2000 | $2.5B | Private |
| 169 | Verdiva Bio | London | United Kingdom | 2025 | $2.5B | Private |
| 170 | ADMA Biologics | Ramsey | United States | 2004 | $2.5B | IPO 2013 |
| 171 | MedReleaf | Ontario | United States | 2014 | $2.4B | Private |
| 172 | DICE Therapeutics | South San Francisco | United States | 2013 | $2.4B | IPO 2021 |
| 173 | Insitro | San Francisco | United States | 2018 | $2.4B | Private |
| 174 | HeartFlow | Redwood City | United States | 2007 | $2.4B | IPO 2025 |
| 175 | Alvotech | Reykjavík | Iceland | 2013 | $2.3B | Private |
| 176 | Miaoshou Doctor | Fengtai District | China | 2015 | $2.3B | Private |
| 177 | Ra Pharmaceuticals | Cambridge | United States | 2008 | $2.3B | IPO 2016 |
| 178 | Tarsus Pharmaceuticals | Irvine | United States | 2017 | $2.3B | IPO 2020 |
| 179 | Trillium Therapeutics | Toronto | Canada | 2004 | $2.3B | IPO 2008 |
| 180 | Formation Bio | New York City | United States | 2013 | $2.2B | Private |
| 181 | Synthon | Nijmegen | Netherlands | 1991 | $2.2B | Private |
| 182 | 10X Genomics | Pleasanton | United States | 2012 | $2.2B | IPO 2019 |
| 183 | Veracyte | San Francisco | United States | 2008 | $2.2B | IPO 2013 |
| 184 | Arcus Biosciences | Hayward | United States | 2015 | $2.2B | IPO 2018 |
| 185 | Provention Bio | Lebanon | United States | 2016 | $2.2B | IPO 2018 |
| 186 | Thrive Earlier Detection | Cambridge | United States | 2019 | $2.2B | Private |
| 187 | Treeline Biosciences | Stamford | United States | 2021 | $2.1B | Private |
| 188 | Capstan Therapeutics | San Diego | United States | 2021 | $2.1B | Private |
| 189 | Endocyte | West Lafayette | United States | 1996 | $2.1B | IPO 2011 |
| 190 | Corvidia | Waltham | United States | 2015 | $2.1B | Private |
| 191 | Affinivax | Cambridge | United States | 2014 | $2.1B | Private |
| 192 | Generate Biomedicines | Somerville | United States | 2020 | $2B | IPO 2026 |
| 193 | Rznomics | Yongin-si | South Korea | 2017 | $2B | Private |
| 194 | Establishment Labs | New York City | United States | 2004 | $2B | IPO 2018 |
| 195 | Astromech | Austin | United States | 2025 | $2B | Private |
| 196 | Sema4 | Stamford | United States | 2017 | $2B | Private |
| 197 | Virta Health | Denver | United States | 2014 | $2B | Private |
| 198 | Paulo Bear | Yau Tsim Mong District | Hong Kong | 2022 | $2B | Private |
| 199 | Zai Lab | Pudong | China | 2014 | $2B | IPO 2017 |
| 200 | Idorsia | Allschwil | Switzerland | 2017 | $2B | IPO 2017 |
| 201 | Deciphera Pharmaceuticals | Waltham | United States | 2003 | $2B | IPO 2017 |
| 202 | Ascentage Pharma | Rockville | United States | 2009 | $2B | IPO 2019 |
| 203 | Immunome | Bothell | United States | 2008 | $1.9B | IPO 2020 |
| 204 | Alder Biopharmaceuticals | Bothell | United States | 2004 | $1.9B | IPO 2014 |
| 205 | Dyne Therapeutics | Waltham | United States | 2017 | $1.9B | IPO 2020 |
| 206 | BGI | Shenzhen | China | 1999 | $1.9B | IPO 2017 |
| 207 | Beam Therapeutics | Cambridge | United States | 2017 | $1.9B | IPO 2020 |
| 208 | Vera Therapeutics | Brisbane | United States | 2016 | $1.9B | IPO 2021 |
| 209 | Kriya Therapeutics | Morrisville | United States | 2019 | $1.9B | Private |
| 210 | KalVista Pharmaceuticals | Cambridge | United States | 2011 | $1.9B | IPO 2016 |
| 211 | Flatiron Health | New York City | United States | 2012 | $1.9B | Private |
| 212 | ConcertAI | Boston | United States | 2017 | $1.9B | Private |
| 213 | Kadmon | New York City | United States | 2009 | $1.9B | IPO 2016 |
| 214 | Dren Bio | Foster City | United States | 2019 | $1.9B | Private |
| 215 | Sierra Oncology | San Mateo | United States | 2004 | $1.9B | IPO 2015 |
| 216 | Five Prime Therapeutics | South San Francisco | United States | 2001 | $1.9B | IPO 2013 |
| 217 | Relay Therapeutics | Cambridge | United States | 2016 | $1.9B | IPO 2020 |
| 218 | Zymeworks | Vancouver | Canada | 2003 | $1.9B | IPO 2017 |
| 219 | Pandion Therapeutics | Cambridge | United States | 2016 | $1.9B | IPO 2020 |
| 220 | Anhui Anke Biotechnology | Hefei | China | 1994 | $1.8B | IPO 2009 |
| 221 | Inhibrx | San Diego | United States | 2017 | $1.8B | IPO 2020 |
| 222 | CinCor Pharma | Waltham | United States | 2018 | $1.8B | IPO 2022 |
| 223 | Luminex | Austin | United States | 1995 | $1.8B | Private |
| 224 | Human Immunology Biosciences | San Francisco | United States | 2021 | $1.8B | Private |
| 225 | Invivyd | Waltham | United States | 2020 | $1.8B | IPO 2021 |
| 226 | Abogen Biosciences | Suzhou Shi | China | 2019 | $1.8B | Private |
| 227 | OpenTrons | New York City | United States | 2013 | $1.8B | Private |
| 228 | ProfoundBio | Woodinville | United States | 2018 | $1.8B | Private |
| 229 | Verily | San Francisco | United States | 2015 | $1.8B | Private |
| 230 | GenMark Diagnostics | Carlsbad | United States | 2010 | $1.8B | IPO 2010 |
| 231 | Vitrolife | Göteborgs Stad | Sweden | 1994 | $1.8B | IPO 2002 |
| 232 | Clinigen Group | Branston | United Kingdom | 2010 | $1.8B | IPO 2012 |
| 233 | Mesoblast | Melbourne | Australia | 2004 | $1.8B | IPO 2004 |
| 234 | Trevi Therapeutics | New Haven | United States | 2011 | $1.8B | IPO 2019 |
| 235 | Disc Medicine | Cambridge | United States | 2017 | $1.8B | Private |
| 236 | CStone Pharmaceuticals | Huangpu | China | 2015 | $1.8B | IPO 2019 |
| 237 | Mariana Oncology | Woburn | United States | 2020 | $1.8B | Private |
| 238 | Areteia Therapeutics | Chapel Hill | United States | 2021 | $1.8B | Private |
| 239 | Curia | Albany | United States | 1991 | $1.7B | IPO 1999 |
| 240 | Ultragenyx Pharmaceutical | Novato | United States | 2010 | $1.7B | IPO 2014 |
| 241 | Constellation Pharmaceuticals | Cambridge | United States | 2008 | $1.7B | IPO 2018 |
| 242 | Brammer Bio | Lexington | United States | 2015 | $1.7B | Private |
| 243 | Palvella Therapeutics | Radnor Township | United States | 2015 | $1.7B | IPO 2024 |
| 244 | 89bio | San Francisco | United States | 2018 | $1.7B | IPO 2019 |
| 245 | Fusion Pharmaceuticals | Hamilton | Canada | 2014 | $1.7B | IPO 2020 |
| 246 | Aurinia Pharmaceuticals | Edmonton | Canada | 1993 | $1.7B | IPO 1996 |
| 247 | Nanobiotix | Paris | France | 2003 | $1.6B | IPO 2012 |
| 248 | Swixx Biopharma | Baar | Switzerland | 2014 | $1.6B | Private |
| 249 | Alamar Biosciences | Hayward | United States | 2018 | $1.6B | IPO 2026 |
| 250 | BONESUPPORT | Lund Municipality | Sweden | 2000 | $1.6B | IPO 2017 |
| 251 | NewLimit | South San Francisco | United States | 2021 | $1.6B | Private |
| 252 | Bavarian Nordic | Gentofte Municipality | Denmark | 1994 | $1.6B | IPO 1998 |
| 253 | Pharvaris | Leiden | Netherlands | 2015 | $1.6B | IPO 2021 |
| 254 | Pathos | Chicago | United States | 2022 | $1.6B | Private |
| 255 | ARMO Bio Sciences | Palo Alto | United States | 2013 | $1.6B | IPO 2018 |
| 256 | Vicebio | London | United Kingdom | 2019 | $1.6B | Private |
| 257 | Varda Space | El Segundo | United States | 2020 | $1.6B | Private |
| 258 | Galecto | Damora Therapeutics | Copenhagen | Denmark | 2011 | $1.6B | IPO 2020 |
| 259 | Capricor Therapeutics | Beverly Hills | United States | 2005 | $1.6B | IPO 2013 |
| 260 | Ambrx | San Diego | United States | 2003 | $1.6B | IPO 2021 |
| 261 | Taysha Gene Therapies | Dallas | United States | 2020 | $1.6B | IPO 2020 |
| 262 | RAPT Therapeutics | San Francisco | United States | 2015 | $1.5B | IPO 2019 |
| 263 | AnaptysBio | San Diego | United States | 2005 | $1.5B | IPO 2017 |
| 264 | Denali Therapeutics | South San Francisco | United States | 2015 | $1.5B | IPO 2017 |
| 265 | METiS Therapeutics | Cambridge | United States | 2017 | $1.5B | Private |
| 266 | Orca Bio | Menlo Park | United States | 2016 | $1.5B | Private |
| 267 | Freenome | San Francisco | United States | 2014 | $1.5B | Private |
| 268 | Structure Therapeutics | South San Francisco | United States | 2016 | $1.5B | IPO 2023 |
| 269 | Orna Therapeutics | Cambridge | United States | 2019 | $1.5B | Private |
| 270 | MindMaze | Lausanne | Switzerland | 2012 | $1.5B | Private |
| 271 | Celator Pharmaceuticals | Dublin | Ireland | 1999 | $1.5B | IPO 2013 |
| 272 | Orbital Therapeutics | San Francisco | United States | 2022 | $1.5B | Private |
| 273 | CenExel | Millcreek | United States | 2018 | $1.5B | Private |
| 274 | Tessera Therapeutics | Cambridge | United States | 2018 | $1.5B | Private |
| 275 | Vividion Therapeutics | San Diego | United States | 2014 | $1.5B | Private |
| 276 | Biofourmis | Boston | United States | 2015 | $1.5B | Private |
| 277 | Athelas | Mountain View | United States | 2016 | $1.5B | Private |
| 278 | Precigen | Germantown | United States | 1998 | $1.5B | IPO 2013 |
| 279 | Mineralys Therapeutics | Radnor Township | United States | 2020 | $1.4B | IPO 2023 |
| 280 | Kymab | Babraham | United Kingdom | 2010 | $1.4B | Private |
| 281 | NeoGenomics Laboratories | Fort Myers | United States | 2002 | $1.4B | IPO 2013 |
| 282 | MindMed | New York City | United States | 2019 | $1.4B | IPO 2020 |
| 283 | Ardelyx | Fremont | United States | 2007 | $1.4B | IPO 2014 |
| 284 | Dynavax Technologies | Emeryville | United States | 1996 | $1.4B | IPO 2004 |
| 285 | Ganymed Pharmaceuticals | Mainz | Germany | 2001 | $1.4B | Private |
| 286 | Shields Health Solutions | Quincy | United States | 2012 | $1.4B | Private |
| 287 | ArcherDX | Boulder | United States | 2013 | $1.4B | Private |
| 288 | Aliada Therapeutics | Boston | United States | 2021 | $1.4B | Private |
| 289 | Tandem Diabetes Care | San Diego | United States | 2006 | $1.4B | IPO 2013 |
| 290 | Igenomix | Paterna | Spain | 2011 | $1.4B | Private |
| 291 | Zealand Pharma | Søborg | Denmark | 1998 | $1.4B | IPO 2017 |
| 292 | Biohaven | New Haven | United States | 2014 | $1.4B | IPO 2017 |
| 293 | Ocular Therapeutix | Bedford | United States | 2006 | $1.3B | IPO 2014 |
| 294 | Redcare Pharmacy | Venlo | Netherlands | 2001 | $1.3B | IPO 2016 |
| 295 | Spectrum Medical | Cheltenham | United Kingdom | 2006 | $1.3B | Private |
| 296 | Clementia Pharmaceuticals | Montreal | Canada | 2012 | $1.3B | IPO 2017 |
| 297 | Sinovent | Suzhou Shi | China | 2017 | $1.3B | Private |
| 298 | Nerio Therapeutics | San Diego | United States | 2019 | $1.3B | Private |
| 299 | Chai Discovery | San Francisco | United States | 2024 | $1.3B | Private |
| 300 | Veloxis Pharmaceuticals | Cary | United States | 2002 | $1.3B | IPO 2006 |
| 301 | Lila Sciences | Cambridge | United States | 2024 | $1.3B | Private |
| 302 | Kerecis | Ísafjörður | Iceland | 2010 | $1.3B | Private |
| 303 | NBE-Therapeutics | Basel | Switzerland | 2012 | $1.3B | Private |
| 304 | InVitae | San Francisco | United States | 2010 | $1.3B | IPO 2015 |
| 305 | Souzhou Ribo Life Science | Wuhan | China | 2007 | $1.3B | IPO 2026 |
| 306 | Blink Health | New York City | United States | 2014 | $1.3B | Private |
| 307 | Oculis | Saint-Sulpice | Switzerland | 2017 | $1.3B | Private |
| 308 | Sinocare | Changsha | China | 2002 | $1.3B | IPO 2012 |
| 309 | MYR | Bad Homburg | Germany | 2011 | $1.3B | Private |
| 310 | Vir Biotechnology | San Francisco | United States | 2016 | $1.3B | IPO 2019 |
| 311 | Inspire Medical Systems | Golden Valley | United States | 2007 | $1.3B | IPO 2018 |
| 312 | Baoji Pharmaceutical | Baoshan District | China | 2019 | $1.3B | IPO 2025 |
| 313 | ATAI Life Sciences | Berlin | Germany | 2018 | $1.3B | IPO 2021 |
| 314 | Science | Alameda | United States | 2021 | $1.3B | Private |
| 315 | Amryt Pharma | Dublin | Ireland | 2004 | $1.3B | IPO 2012 |
| 316 | Everest Medicines | New York City | United States | 2017 | $1.2B | IPO 2020 |
| 317 | Bio-Thera Solutions | Guangzhou | China | 2003 | $1.2B | IPO 2020 |
| 318 | Iovance Biotherapeutics | New York City | United States | 2007 | $1.2B | IPO 2010 |
| 319 | Kallyope | New York City | United States | 2015 | $1.2B | Private |
| 320 | ABILITY Network | Minneapolis | United States | 2000 | $1.2B | Private |
| 321 | La Renon | Ahmedabad | India | 2007 | $1.2B | Private |
| 322 | Tevogen Bio | Metuchen | United States | 2020 | $1.2B | Private |
| 323 | Cosmo Pharmaceuticals | Dublin | Ireland | 1996 | $1.2B | IPO 2007 |
| 324 | Harmony Biosciences | Upper Merion Township | United States | 2017 | $1.2B | IPO 2020 |
| 325 | Anbio Biotechnology | Frankfurt | Germany | 2021 | $1.2B | IPO 2025 |
| 326 | Xeris Pharmaceuticals | Chicago | United States | 2005 | $1.2B | IPO 2018 |
| 327 | CTI Biopharma (Formerly Cell Therapeutics) | Seattle | United States | 1992 | $1.2B | IPO 1997 |
| 328 | Oxford Nanopore Technologies | Oxford | United Kingdom | 2005 | $1.2B | IPO 2021 |
| 329 | NovoCure | Root | Switzerland | 2000 | $1.2B | IPO 2015 |
| 330 | Lunit | Seoul | South Korea | 2013 | $1.2B | IPO 2022 |
| 331 | Araris Biotech | Wädenswil | Switzerland | 2019 | $1.1B | Private |
| 332 | Cardior Pharmaceuticals | Hanover | Germany | 2016 | $1.1B | Private |
| 333 | Intellia Therapeutics | Cambridge | United States | 2014 | $1.1B | IPO 2016 |
| 334 | Silk Road Medical | Sunnyvale | United States | 2007 | $1.1B | IPO 2019 |
| 335 | NeuroDerm | Rehovot | Israel | 2003 | $1.1B | IPO 2014 |
| 336 | Bebetter Med | Guangzhou | China | 2012 | $1.1B | IPO 2025 |
| 337 | Diagnostyka | Kraków | Poland | 1998 | $1.1B | IPO 2025 |
| 338 | Kate Therapeutics | San Diego | United States | 2020 | $1.1B | Private |
| 339 | Recursion Pharma | Salt Lake City | United States | 2013 | $1.1B | IPO 2021 |
| 340 | Inversago Pharma | St-Eustache | Canada | 2015 | $1.1B | Private |
| 341 | PeptiDream | Tokyo | Japan | 2006 | $1.1B | IPO 2013 |
| 342 | Chengdu Maxvax Biotechnology | Chengdu | China | 2016 | $1.1B | Private |
| 343 | GoodRx | Santa Monica | United States | 2011 | $1.1B | IPO 2020 |
| 344 | Umoja Biopharma | Seattle | United States | 2019 | $1.1B | Private |
| 345 | Calliditas | Stockholms kommun | Sweden | 1992 | $1B | IPO 2018 |
| 346 | Imago BioSciences | San Carlos | United States | 2012 | $1B | IPO 2021 |
| 347 | Prevail Therapeutics | New York City | United States | 2017 | $1B | IPO 2019 |
| 348 | Xvivo perfusion | Göteborgs Stad | Sweden | 1998 | $1B | IPO 2012 |
| 349 | PROCEPT BioRobotics | Redwood City | United States | 2009 | $1B | IPO 2021 |
| 350 | Apotea | Stockholms kommun | Sweden | 2011 | $1B | Private |
| 351 | Evotec | Hamburg | Germany | 1993 | $1B | IPO 2012 |
| 352 | COMPASS Pathways | London | United Kingdom | 2016 | $1B | IPO 2020 |
| 353 | Altus Pharmaceuticals | Independence | United States | 1996 | $1B | IPO 2006 |
| 354 | Oxford Biomedica | Oxford | United Kingdom | 1995 | $1B | IPO 2008 |
| 355 | D3 Bio | Wuxi | China | 2020 | $1B | Private |
| 356 | IntraBio | Austin | United States | 2015 | $1B | Private |
| 357 | Haodf | Mentougou District | China | 2006 | $1B | Private |
| 358 | VectivBio | Basel | Switzerland | 2019 | $1B | IPO 2021 |
| 359 | Enveda Biosciences | Boulder | United States | 2019 | $1B | Private |
| 360 | iCarbonX | Shenzhen | China | 2015 | $1B | Private |
| 361 | Touchlight Genetics | London | United Kingdom | 2007 | $1B | Private |
| 362 | LetsGetChecked | New York City | United States | 2014 | $1B | Private |
| 363 | Amunix | San Francisco | United States | 2006 | $1B | Private |
| 364 | Aiolos Bio | San Francisco | United States | 2023 | $1B | Private |
| 365 | Protomer | Pasadena | United States | 2014 | $1B | Private |
| 366 | Mammoth Biosciences | Brisbane | United States | 2017 | $1B | Private |
| 367 | Immunai | New York City | United States | 2019 | $1B | Private |
| 368 | Peloton Therapeutics | Dallas | United States | 2010 | $1B | Private |
| 369 | BioVex | Woburn | United States | 1999 | $1B | Private |
| 370 | Transcenta | Suzhou Shi | China | 2019 | $1B | IPO 2021 |
| 371 | BlueRock Therapeutics | Cambridge | United States | 2016 | $1B | Private |
| 372 | Aprogen | Seongnam-si | South Korea | 2000 | $1B | Private |
| 373 | POINT Biopharma | Toronto | Canada | 2019 | $1B | IPO 2020 |
| 374 | IDRx | Plymouth | United States | 2022 | $1B | Private |
| 375 | Tandem | New York City | United States | 2023 | $1B | Private |
| 376 | Owkin | Paris | France | 2016 | $1B | Private |
| 377 | PillPack | Manchester | United States | 2013 | $1B | Private |
| 378 | Immunocore | Milton | United Kingdom | 2008 | $996M | IPO 2021 |
| 379 | Prexton therapeutics | Oss | Netherlands | 2012 | $996M | Private |
| 380 | Tourmaline Bio | New York City | United States | 2022 | $991M | IPO 2023 |
| 381 | VectorBuilder | Chicago | United States | 2014 | $990M | Private |
| 382 | Haihe Biopharma | Huangpu | China | 2011 | $990M | Private |
| 383 | MapLight Therapeutics | Redwood City | United States | 2018 | $986M | IPO 2025 |
| 384 | PolyNovo | Melbourne | Australia | 1998 | $964M | IPO 1999 |
| 385 | Valo Health | Boston | United States | 2019 | $950M | Private |
| 386 | OPKO Health | Miami | United States | 2007 | $901M | IPO 2007 |
| 387 | Tilray | Nanaimo | Canada | 2013 | $832M | IPO 2018 |
| 388 | Neuren Pharmaceuticals | Melbourne | Australia | 2001 | $828M | IPO 2005 |
| 389 | Wave Life Sciences | Cambridge | United States | 2012 | $827M | IPO 2015 |
| 390 | Ventyx Biosciences | Encinitas | United States | 2018 | $822M | IPO 2021 |
| 391 | Sana Biotechnology | Seattle | United States | 2018 | $821M | IPO 2021 |
| 392 | Aktis Oncology | Boston | United States | 2020 | $818M | IPO 2026 |
| 393 | Intersect ENT | Menlo Park | United States | 2003 | $813M | IPO 2014 |
| 394 | Gyroscope Therapeutics | London | United Kingdom | 2016 | $779M | Private |
| 395 | Poseida Therapeutics | San Diego | United States | 2015 | $778M | IPO 2020 |
| 396 | ChemoMetec | Lillerød | Denmark | 1997 | $777M | IPO 2006 |
| 397 | AbCellera Biologics | Vancouver | Canada | 2012 | $767M | IPO 2020 |
| 398 | Raysearch Laboratories | Stockholms kommun | Sweden | 2000 | $753M | IPO 2004 |
| 399 | Kuros Biosciences | Zurich | Switzerland | 2000 | $739M | IPO 2016 |
| 400 | Gracell Biotechnologies | Huangpu | China | 2017 | $704M | IPO 2021 |
| 401 | Exscientia | Oxford | United Kingdom | 2012 | $688M | IPO 2021 |
| 402 | Omada Health | San Francisco | United States | 2011 | $648M | IPO 2025 |
| 403 | Revance Therapeutics | Nashville | United States | 2002 | $643M | IPO 2014 |
| 404 | Viridian Therapeutics | Boulder | United States | 2007 | $637M | IPO 2017 |
| 405 | ARS Pharmaceuticals | San Diego | United States | 2015 | $629M | Private |
| 406 | TransThera Biosciences | Nanjing City | China | 2016 | $629M | IPO 2025 |
| 407 | CureVac | Tübingen | Germany | 2000 | $599M | IPO 2020 |
| 408 | AbSci | Vancouver | United States | 2011 | $593M | IPO 2021 |
| 409 | Valneva | Saint-Herblain | France | 1999 | $588M | IPO 2013 |
| 410 | Prime Medicine | Cambridge | United States | 2019 | $576M | IPO 2022 |
| 411 | ChemoCentryx | San Carlos | United States | 1997 | $569M | IPO 2012 |
| 412 | Verve Therapeutics | Cambridge | United States | 2018 | $566M | IPO 2021 |
| 413 | Allogene Therapeutics | San Francisco | United States | 2018 | $562M | IPO 2018 |
| 414 | Zur Rose Group | Frauenfeld | Switzerland | 1993 | $498M | IPO 2017 |
| 415 | UniQure | Amsterdam | Netherlands | 1998 | $496M | IPO 2014 |
| 416 | Ginkgo Bioworks | Boston | United States | 2008 | $482M | Private |
| 417 | Berry Genomics | Dongcheng District | China | 2010 | $468M | IPO 2017 |
| 418 | Cytodyn | Lake Oswego | United States | 2002 | $435M | IPO 2005 |
| 419 | Rec-Biotechnology | Taizhou | China | 2012 | $423M | Private |
| 420 | Eikon Therapeutics | Hayward | United States | 2019 | $417M | IPO 2026 |
| 421 | Brii Biosciences | Durham | United States | 2018 | $415M | IPO 2021 |
| 422 | Vectura | Chippenham | United Kingdom | 1997 | $393M | IPO 2008 |
| 423 | Canopy Growth | Smiths Falls | Canada | 2014 | $380M | IPO 2014 |
| 424 | Intracellular Therapies | New York City | United States | 2002 | $377M | IPO 2014 |
| 425 | Sophia Genetics | Saint-Sulpice | Switzerland | 2011 | $372M | IPO 2021 |
| 426 | ASLAN Pharmaceuticals | Singapore | Singapore | 2010 | $339M | IPO 2018 |
| 427 | ADC Therapeutics | Epalinges | Switzerland | 2011 | $336M | IPO 2020 |
| 428 | Y-mAbs Therapeutics | New York City | United States | 2014 | $332M | IPO 2018 |
| 429 | Personalis | Menlo Park | United States | 2011 | $326M | IPO 2019 |
| 430 | Orchard Therapeutics | London | United Kingdom | 2015 | $303M | IPO 2018 |
| 431 | Lyell Immunopharma | San Francisco | United States | 2018 | $287M | IPO 2021 |
| 432 | Neumora Therapeutics | Waltham | United States | 2020 | $282M | IPO 2023 |
| 433 | I-Mab Biopharma | Huangpu | China | 2016 | $272M | IPO 2020 |
| 434 | Nautilus | San Carlos | United States | 2016 | $251M | Private |
| 435 | Cellectis | Paris | France | 1999 | $246M | IPO 2007 |
| 436 | Prenetics | Eastern District | Hong Kong | 2014 | $233M | Private |
| 437 | Zymergen | Emeryville | United States | 2013 | $226M | IPO 2021 |
| 438 | Rocket Pharmaceuticals | Cranbury Township | United States | 2015 | $216M | IPO 2018 |
| 439 | Humacyte | Durham | United States | 2004 | $196M | Private |
| 440 | SAGE Therapeutics | Raleigh | United States | 2010 | $191M | IPO 2014 |
| 441 | Nevro | Redwood City | United States | 2006 | $183M | IPO 2014 |
| 442 | CELLINK | Göteborgs Stad | Sweden | 2016 | $171M | IPO 2016 |
| 443 | Adagene | Suzhou Shi | China | 2012 | $168M | IPO 2021 |
| 444 | NanoString Technologies | Seattle | United States | 2003 | $154M | IPO 2013 |
| 445 | 23andMe | Sunnyvale | United States | 2006 | $150M | Private |
| 446 | Zhejiang Taimei Medical Technology | Huangpu | China | 2013 | $150M | IPO 2024 |
| 447 | Editas Medicine | Cambridge | United States | 2013 | $148M | IPO 2016 |
| 448 | Clinuvel Pharmaceuticals | Melbourne | Australia | 2001 | $147M | IPO 2001 |
| 449 | Autolus | London | United Kingdom | 2014 | $143M | IPO 2018 |
| 450 | Cronos Group (CRON) | Toronto | Canada | 2013 | $138M | IPO 2016 |
| 451 | Coherus Oncology | Redwood City | United States | 2010 | $129M | IPO 2014 |
| 452 | Sorrento Therapeutics | San Diego | United States | 2006 | $128M | IPO 2010 |
| 453 | Celularity | Florham Park | United States | 2016 | $94M | IPO 2019 |
| 454 | Inogen | Goleta | United States | 2001 | $89M | IPO 2014 |
| 455 | NRx Pharmaceuticals | Haifa | Israel | 2014 | $89M | Private |
| 456 | Caribou Biosciences | Berkeley | United States | 2011 | $78M | IPO 2021 |
| 457 | Instil Bio | Dallas | United States | 2008 | $64M | IPO 2021 |
| 458 | Quanterix | Lexington | United States | 2007 | $63M | IPO 2017 |
| 459 | Adaptimmune | Milton | United Kingdom | 2008 | $57M | IPO 2015 |
| 460 | Nykode Therapeutics | Oslo | Norway | 2007 | $56M | IPO 2020 |
| 461 | Gelesis | Boston | United States | 2006 | $54M | Private |
| 462 | Alector | San Francisco | United States | 2013 | $36M | IPO 2019 |
| 463 | MacroGenics | Rockville | United States | 2000 | $34M | IPO 2013 |
| 464 | Quantum-Si | Guilford | United States | 2013 | $28M | Private |
| 465 | Fate Therapeutics | San Diego | United States | 2007 | $18M | IPO 2013 |
| 466 | Pear Therapeutics | Boston | United States | 2013 | $1M | Private |
| 467 | Micromet | Carlsbad | United States | 1993 | — | IPO 2006 |
| 468 | Janssen Vaccines | Leiden | Netherlands | 2000 | — | IPO 2000 |
| 469 | Kythera Biopharmaceuticals | Calabasas | United States | 2005 | — | IPO 2012 |
| 470 | Onyx Pharmaceuticals | South San Francisco | United States | 1992 | — | Private |
| 471 | Aragon Pharmaceuticals | San Diego | United States | 2009 | — | Private |
| 472 | Ikaria | Hampton Township | United States | 2007 | — | Private |
| 473 | Abraxis BioScience | Los Angeles | United States | 2007 | — | Private |
| 474 | Hyperion Therapeutics | Dublin | Ireland | 2006 | — | IPO 2012 |
| 475 | Cardioxyl Pharmaceuticals | Chapel Hill | United States | 2005 | — | Private |
| 476 | Santarus | San Diego | United States | 1996 | — | IPO 2004 |
| 477 | HealthSpring | Franklin | United States | 2000 | — | IPO 2006 |
| 478 | Auspex Pharmaceuticals | San Diego | United States | 2001 | — | Private |
| 479 | Cameron Health | San Clemente | United States | 2001 | — | Private |
| 480 | Sirna Therapeutics | San Francisco | United States | 1992 | — | IPO 2006 |
| 481 | Singular Genomics Systems | San Diego | United States | 2016 | $-13M | IPO 2021 |
| 482 | Rubius Therapeutics | Cambridge | United States | 2013 | $-13M | IPO 2018 |
| 483 | Cue | San Diego | United States | 2010 | $-18M | IPO 2021 |
| 484 | Science 37 | Morrisville | United States | 2014 | $-21M | Private |
| 485 | Audentes Therapeutics | San Francisco | United States | 2013 | $-26M | IPO 2016 |
| 486 | Generation Bio | Cambridge | United States | 2016 | $-28M | IPO 2020 |
| 487 | BenevolentAI | London | United Kingdom | 2013 | $-28M | Private |
| 488 | PMV Pharmaceuticals | Cranbury Township | United States | 2013 | $-38M | IPO 2020 |
| 489 | Allakos | San Carlos | United States | 2012 | $-47M | IPO 2018 |
| 490 | Arvinas | New Haven | United States | 2013 | $-48M | IPO 2018 |
| 491 | SomaLogic | Boulder | United States | 2000 | $-55M | Private |
| 492 | Seer | Redwood City | United States | 2017 | $-56M | IPO 2020 |
| 493 | Avidity Biosciences | San Diego | United States | 2013 | $-65M | IPO 2020 |
| 494 | EQRx | Cambridge | United States | 2019 | $-69M | Private |
| 495 | AlloVir | Lincoln | United States | 2013 | $-72M | IPO 2020 |
| 496 | Janux Therapeutics | San Diego | United States | 2017 | $-85M | IPO 2021 |
| 497 | LianBio | Pudong | China | 2019 | $-244M | IPO 2021 |
| 498 | Bicycle Therapeutics | Cambridge | United Kingdom | 2009 | $-281M | IPO 2019 |
| 499 | Galapagos | Mechelen | Belgium | 1999 | $-1551M | IPO 2015 |
Thoroughbreds — the $100M+ revenue tier
Dealroom's revenue milestone: 145 Biotech & Life Sciences companies past $100M in annual revenue, proof of traction beyond paper valuations.
| # | Company | HQ city | Country | Founded | Valuation | Status |
|---|---|---|---|---|---|---|
| 1 | Mankind Pharma | New Delhi | India | 1995 | $13B | IPO 2023 |
| 2 | Laurus Labs | Hyderabad | India | 2005 | $8.4B | IPO 2016 |
| 3 | Iveric Bio (Formerly Ophthotech) | Princeton | United States | 2007 | $5.9B | IPO 2013 |
| 4 | Mirum Pharmaceuticals | Foster City | United States | 2018 | $5.7B | IPO 2019 |
| 5 | Recipharm | Stockholms kommun | Sweden | 1995 | $3.8B | IPO 2014 |
| 6 | ACADIA Pharmaceuticals | San Diego | United States | 1993 | $3B | IPO 2004 |
| 7 | NuVasive | San Diego | United States | 1997 | $2.9B | IPO 2004 |
| 8 | Hybio Pharmaceutical | Shenzhen | China | 1998 | $2.8B | IPO 2011 |
| 9 | Arcutis | Westlake Village | United States | 2016 | $2.8B | IPO 2020 |
| 10 | Eris Lifesciences | Ahmedabad | India | 2007 | $2.8B | IPO 2017 |
| 11 | NewAmsterdam Pharma | Aventura | United States | 2019 | $2.6B | Private |
| 12 | Nektar Therapeutics | San Carlos | United States | 1990 | $2.6B | IPO 1994 |
| 13 | Fagron | Rotterdam | Netherlands | 1990 | $2.2B | IPO 2007 |
| 14 | AxoGen | Alachua | United States | 2002 | $2.1B | IPO 2003 |
| 15 | nkf-pharma | Nanjing City | China | 2000 | $2.1B | IPO 2017 |
| 16 | Adaptive Biotechnologies | Seattle | United States | 2009 | $2B | IPO 2019 |
| 17 | Green Thumb Industries | Chicago | United States | 2014 | $2B | IPO 2018 |
| 18 | Hugel Control | Seoul | South Korea | 2001 | $2B | IPO 2016 |
| 19 | Syndax Pharmaceuticals | Waltham | United States | 2005 | $1.8B | IPO 2016 |
| 20 | Agios Pharmaceuticals | Cambridge | United States | 2008 | $1.6B | IPO 2013 |
| 21 | Collegium Pharmaceutical | Cumberland | United States | 2002 | $1.5B | IPO 2015 |
| 22 | MedPlus | Hyderabad | India | 2006 | $1.5B | IPO 2021 |
| 23 | Zogenix | Emeryville | United States | 2006 | $1.5B | IPO 2010 |
| 24 | Amylyx Pharmaceutical | Cambridge | United States | 2014 | $1.4B | IPO 2022 |
| 25 | Radius Health | Cambridge | United States | 2003 | $1.4B | IPO 2014 |
| 26 | Omeros | Charlottesville | United States | 1994 | $1.1B | IPO 2009 |
| 27 | Ironwood Pharmaceuticals | Boston | United States | 1998 | $1.1B | IPO 2010 |
| 28 | MannKind Corporation | Santa Clarita | United States | 1991 | $1.1B | IPO 2004 |
| 29 | Harbour BioMed | Cambridge | United States | 2016 | $1B | IPO 2020 |
| 30 | BioPharmX | Menlo Park | United States | 2011 | $1B | IPO 2015 |
| 31 | Immatics biotechnologies | Tübingen | Germany | 2000 | $970M | Private |
| 32 | Aerie Pharmaceuticals | Durham | United States | 2005 | $918M | IPO 2013 |
| 33 | CareDx | Brisbane | United States | 2000 | $908M | IPO 2014 |
| 34 | Bioventus | Durham | United States | 2012 | $897M | Private |
| 35 | Pacific Biosciences | Menlo Park | United States | 2004 | $879M | IPO 2010 |
| 36 | New Horizon Health | Hangzhou | China | 2015 | $806M | IPO 2021 |
| 37 | EyePoint Pharmaceuticals | Watertown | United States | 2000 | $791M | IPO 2005 |
| 38 | Zenas BioPharma | Waltham | United States | 2020 | $754M | IPO 2024 |
| 39 | Sino Biological | Dongcheng District | China | 2007 | $751M | IPO 2021 |
| 40 | CytomX Therapeutics | South San Francisco | United States | 2008 | $743M | IPO 2015 |
| 41 | Maravai Life Sciences | San Diego | United States | 2014 | $661M | IPO 2020 |
| 42 | Lexicon Pharmaceuticals | The Woodlands | United States | 1995 | $623M | IPO 1998 |
| 43 | AIM Vaccine | Daxing District | China | 2011 | $548M | IPO 2022 |
| 44 | Basilea Pharmaceutica | Allschwil | Switzerland | 2000 | $535M | IPO 2004 |
| 45 | Knight Therapeutics | Westmount | Canada | 1995 | $523M | IPO 2014 |
| 46 | Atrys Health | Madrid | Spain | 2007 | $505M | IPO 2016 |
| 47 | Myriad Genetics | Salt Lake City | United States | 1991 | $503M | IPO 1995 |
| 48 | Xencor | Monrovia | United States | 1997 | $501M | IPO 2013 |
| 49 | F2G | Manchester | United Kingdom | 1998 | $500M | Private |
| 50 | Euglena | Tokyo | Japan | 2005 | $489M | IPO 2012 |
| 51 | Castle Biosciences | Friendswood | United States | 2008 | $472M | IPO 2019 |
| 52 | Sutro Biopharma | South San Francisco | United States | 2003 | $463M | IPO 2018 |
| 53 | Viva Shanghai | Huangpu | China | 2008 | $461M | Private |
| 54 | Intercept Pharmaceuticals | New York City | United States | 2002 | $456M | IPO 2012 |
| 55 | Blue Earth Diagnostics | Oxford | United Kingdom | 2013 | $450M | IPO 2009 |
| 56 | Cannabist | New York City | United States | 2012 | $444M | IPO 2019 |
| 57 | Rigel Pharmaceuticals | South San Francisco | United States | 1996 | $439M | IPO 2000 |
| 58 | TOT Biopharm | China | China | 2009 | $435M | IPO 2019 |
| 59 | Tactile Systems Technology | Minneapolis | United States | 1995 | $429M | IPO 2016 |
| 60 | Clover Biopharmaceuticals | Chengdu | China | 2007 | $428M | Private |
| 61 | Flexion Therapeutics | Woburn | United States | 2007 | $428M | IPO 2014 |
| 62 | Genfit | Loos | France | 1999 | $423M | IPO 2019 |
| 63 | OrthoPediactrics | Warsaw | United States | 2006 | $415M | IPO 2017 |
| 64 | Ovid Therapeutics | New York City | United States | 2014 | $409M | IPO 2017 |
| 65 | Revenio Group | Vantaa | Finland | 2001 | $386M | IPO 2001 |
| 66 | Horizon Discovery | Cambridge | United Kingdom | 2005 | $383M | IPO 2014 |
| 67 | Jushi | Boca Raton | United States | 2018 | $367M | IPO 2019 |
| 68 | Alimera Sciences | Alpharetta | United States | 2003 | $360M | IPO 2010 |
| 69 | Karyopharm Therapeutics | Newton | United States | 2008 | $359M | IPO 2013 |
| 70 | Cytek | Fremont | United States | 1992 | $336M | IPO 2021 |
| 71 | 2seventybio | Cambridge | United States | 2021 | $336M | IPO 2021 |
| 72 | Puma Biotechnology | Los Angeles | United States | 2010 | $312M | IPO 2012 |
| 73 | Sinovac Biotech | Jing'an District | China | 2001 | $297M | IPO 2003 |
| 74 | Xiangya Group | Shenzhen | China | 2006 | $296M | IPO 2018 |
| 75 | ReGenX Biosciences | Rockville | United States | 2009 | $277M | IPO 2015 |
| 76 | Enanta Pharmaceuticals | Watertown | United States | 1998 | $274M | IPO 2013 |
| 77 | Redox Engine | Madison | United States | 2014 | $270M | Private |
| 78 | Concert Pharmaceuticals | Lexington | United States | 2006 | $267M | IPO 2014 |
| 79 | Codexis | Redwood City | United States | 2002 | $251M | IPO 2010 |
| 80 | Entrada Therapeutics | Boston | United States | 2016 | $249M | IPO 2021 |
| 81 | Eurobio Scientific | Les Ulis | France | 1997 | $244M | IPO 2005 |
| 82 | LogicBio Therapeutics | Cambridge | United States | 2015 | $240M | IPO 2018 |
| 83 | Controlant | Kópavogur | Iceland | 2007 | $240M | Private |
| 84 | Akebia Therapeutics | Cambridge | United States | 2007 | $229M | IPO 2014 |
| 85 | Agenus | Lexington | United States | 1994 | $200M | IPO 2000 |
| 86 | Standard Biotools | Boston | United States | 1999 | $191M | IPO 2011 |
| 87 | AC Immune | Lausanne | Switzerland | 2003 | $188M | IPO 2016 |
| 88 | Vanda Pharmaceuticals | Washington DC | United States | 2003 | $173M | IPO 2006 |
| 89 | SIGA Technologies | New York City | United States | 1995 | $169M | IPO 1997 |
| 90 | ITM Radiopharma | Garching bei München | Germany | 2004 | $165M | Private |
| 91 | Acorda Therapeutics | Town of Orangetown | United States | 1995 | $161M | IPO 2006 |
| 92 | Bluebird bio | Cambridge | United States | 1993 | $150M | IPO 2013 |
| 93 | Gossamer Bio | San Diego | United States | 2017 | $146M | IPO 2019 |
| 94 | Treace Medical Concepts | Ponte Vedra Beach | United States | 2014 | $138M | IPO 2021 |
| 95 | Atea Pharmaceuticals | Boston | United States | 2014 | $134M | IPO 2020 |
| 96 | Vapotherm | Exeter | United States | 1999 | $133M | IPO 2018 |
| 97 | Assertio | Newark | United States | 1995 | $125M | IPO 1997 |
| 98 | Trinity Biotech | Bray | Ireland | 1992 | $122M | IPO 1992 |
| 99 | Seres Therapeutics | Cambridge | United States | 2010 | $105M | IPO 2015 |
| 100 | Medexus Pharmaceuticals | Montreal | Canada | 2007 | $104M | IPO 2012 |
| 101 | Precision BioSciences | Durham | United States | 2006 | $91M | IPO 2019 |
| 102 | FibroGen | San Francisco | United States | 1993 | $88M | IPO 2014 |
| 103 | Xtant Medical | Miamisburg | United States | 1998 | $85M | IPO 2011 |
| 104 | Cartesian Therapeutics | Gaithersburg | United States | 2016 | $77M | IPO 2023 |
| 105 | Centogene | Rostock | Germany | 2006 | $76M | IPO 2019 |
| 106 | Trajan | Melbourne | Australia | 2011 | $66M | IPO 2021 |
| 107 | Voyager Therapeutics | Cambridge | United States | 2014 | $60M | IPO 2015 |
| 108 | Asarina Pharma | Solna kommun | Sweden | 2006 | $55M | IPO 2018 |
| 109 | BioStem Technologies | Pompano Beach | United States | 2006 | $53M | IPO 2008 |
| 110 | Selecta Biosciences | Watertown | United States | 2008 | $51M | IPO 2016 |
| 111 | Molecular Partners | Zurich | Switzerland | 2004 | $46M | IPO 2014 |
| 112 | Atara Biotherapeutics | Thousand Oaks | United States | 2012 | $41M | IPO 2014 |
| 113 | Biora Therapeutics | San Diego | United States | 2010 | $37M | IPO 2020 |
| 114 | SCYNEXIS | Jersey City | United States | 2000 | $37M | IPO 2014 |
| 115 | Ultimovacs | Oslo | Norway | 2011 | $35M | IPO 2019 |
| 116 | Orexo | Uppsala kommun | Sweden | 1995 | $35M | IPO 2005 |
| 117 | Arcturus Therapeutics | San Diego | United States | 2013 | $33M | IPO 2017 |
| 118 | Venus Concept | Tel Aviv-Yafo | Israel | 2009 | $29M | IPO 2019 |
| 119 | Surface Oncology | Cambridge | United States | 2014 | $18M | IPO 2018 |
| 120 | Aytu BioScience | Englewood | United States | 2002 | $18M | IPO 2008 |
| 121 | Novacyt | Vélizy-Villacoublay | France | 2006 | $14M | IPO 2012 |
| 122 | Benchmark Holdings | Sheffield | United Kingdom | 2000 | $13M | IPO 2013 |
| 123 | 111,Inc | Dongcheng District | China | 2010 | $9M | IPO 2018 |
| 124 | Eagle Pharmaceuticals | Woodcliff Lake | United States | 2007 | $6M | IPO 2014 |
| 125 | Somar | Mexico | Mexico | 2011 | $3M | Private |
| 126 | Repare Therapeutics | Montreal | Canada | 2016 | $2M | IPO 2020 |
| 127 | MEDVi | Los Angeles | United States | 2024 | $0M | Private |
| 128 | ViewRay | Oakwood | United States | 2004 | $0M | IPO 2015 |
| 129 | Athenex | Buffalo | United States | 2003 | $0M | IPO 2017 |
| 130 | Endologix | Santa Rosa | United States | 1992 | — | IPO 1996 |
| 131 | Newpharma | Liège | Belgium | 2008 | — | Private |
| 132 | NANOLEK | Lovintsy | Russia | 2011 | — | Private |
| 133 | ExactCare Pharmacy | Cleveland | United States | 2009 | — | Private |
| 134 | Aerogen | Galway | Ireland | 1997 | — | Private |
| 135 | Sygnature Discovery | Nottingham | United Kingdom | 2004 | — | Private |
| 136 | Quotient Sciences | Nottingham | United Kingdom | 1990 | — | Private |
| 137 | Juvisé Pharmaceuticals | Villeurbanne | France | 2008 | — | Private |
| 138 | Astex | Pleasanton | United States | 1999 | — | Private |
| 139 | Aker BioMarine | Norway | Norway | 2002 | — | Private |
| 140 | Turnstone Biologics | San Francisco | United States | 2015 | $-8M | IPO 2023 |
| 141 | NGM Biopharmaceuticals | South San Francisco | United States | 2007 | $-36M | IPO 2019 |
| 142 | Forward Pharma | Copenhagen | Denmark | 2005 | $-48M | IPO 2014 |
| 143 | iTeos Therapeutics | Charleroi | Belgium | 2011 | $-62M | IPO 2020 |
| 144 | Jounce Therapeutics | Cambridge | United States | 2013 | $-82M | IPO 2017 |
| 145 | Phoenix New Media | Guangzhou | China | 1996 | $-120M | IPO 2011 |
Frequently asked questions
How many Biotech & Life Sciences unicorns are there?
Dealroom tracks 499 Biotech & Life Sciences companies that reached a $1B+ valuation as of July 2026, worth $1.8T combined. 42 of them are valued at $10B or more.
What are the biggest Biotech & Life Sciences unicorns?
The three most valuable are argenx, Seagen, WuXi AppTec.
What counts as a unicorn — and what is a thoroughbred?
A unicorn is a company that reached a $1B+ valuation, verified by Dealroom. A thoroughbred is Dealroom's revenue-based tier: a startup-era company generating $100M+ in annual revenue — traction, not just paper valuation.