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Cage Bio

San Carlos, CA · Privately Held (backing)

Developer of an eutectic ionic liquid designed to minimize the pervasive use of systemic drugs for the treatment of dermal diseases and symptoms. Cage Bio is based in San Carlos, CA. Its last reported valuation was $125 million in Jun 2019. It has raised $57.6 million across 3 recorded rounds; the latest was an $11 million early-stage round in Apr 2024.

Last reported valuation
$125.0M
Oct 2026
Priced at
—
Total raised
$57.6M
Last round
Early Stage VC
Apr 2024

Cage Bio key facts

as of Oct 2026
  • Developer of an eutectic ionic liquid designed to minimize the pervasive use of systemic drugs for the treatment of dermal diseases and symptoms.
  • Cage Bio is valued at approximately $125.0M as of Oct 2026 (last reported valuation).
  • It has raised $57.6M across 3 recorded rounds; the latest was Early Stage VC ($11.0M) in Apr 2024.
  • Notable investors include Johnson & Johnson Innovation - JLABS, AG Collective Capital, CKG Management, HSC Next, MBC BioLabs — 6 tracked in total.
  • Cage Bio has filed 5 Form Ds with the SEC since 2019, most recently Apr 2025 ($11.0M sold to 14 investors).
  • Status: Privately Held (backing).
Last reported valuation
LOW confidence
$125.0M

Cage Bio's last reported valuation, Jun 2019. Nothing priced has surfaced since.

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Cage Bio funding rounds

3 rounds
Apr 2024Early Stage VC$11.0MSEC filing▮
Oct 2021Early Stage VC$8.5MSEC filing▮
Jun 2019Early Stage VC$9.4MSEC filing▮
Full funding history →

Cage Bio valuation

Cage Bio's last reported valuation was $125 million in Jun 2019. No priced round, secondary trade or fund mark has surfaced since.

How much has Cage Bio raised?

Cage Bio has raised $57.6 million in total; 3 of its rounds are on record, from 2019 on. The largest on record was a $9.4 million early-stage round in Jun 2019; the most recent was an $11 million early-stage round in Apr 2024.

Cage Bio has filed 5 Form Ds with the SEC since 2019, most recently in Apr 2025 ($11 million sold to 14 investors).

Cage Bio investors

6 investors are on record for Cage Bio, including Johnson & Johnson Innovation - JLABS, AG Collective Capital, CKG Management and HSC Next. The early-stage round in Apr 2024 drew 14 investors.

About Cage Bio

Developer of an eutectic ionic liquid designed to minimize the pervasive use of systemic drugs for the treatment of dermal diseases and symptoms. The company offers a product that is based on ionic liquid technology which offers broad-spectrum antimicrobial and anti-inflammatory properties along with enhancement of solubility and permeability, enabling physicians to treat dermal diseases successfully and effectively using effective products for dermatology.

Sector
Healthcare
HQ
San Carlos, CA, United States
Employees
10
Ownership
Privately Held (backing)

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