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
What is Cage Bio worth?
$125.0Mlast reported valuation · Oct 2026

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

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Valuation timeline

0 priced rounds · 32 daily marks since · Sep 2026 – Oct 2026
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Markrounds hold their value until the next priced eventMark, today
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Cage Bio funding history

3 rounds
DateRoundRaisedPost-money
Apr 2024Early Stage VC$11.0M▮
Oct 2021Early Stage VC$8.5M▮
Jun 2019Early Stage VC$9.4M▮
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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).

How Cage Bio's valuation is determined

Private company valuations aren’t quoted on an exchange — they’re established in moments: a priced funding round sets a post-money valuation, secondary trades print at a price per share, and SEC-registered funds holding the stock report fair-value marks in their N-PORT filings.

For Cage Bio, the most current credible signal sets the number and the older ones confirm it: a live secondary-market price first, then three or more recent prints, then institutional fund marks, and otherwise the last priced round, which never decays. The valuation is the last round’s post-money moved by the price change since that round, so no share count is assumed. Today it is set by last reported valuation. Question about this number? Full methodology →

Frequently asked about Cage Bio

What is Cage Bio worth?
Cage Bio is valued at $125.0M as of Oct 2026. Cage Bio's last reported valuation, Jun 2019. Nothing priced has surfaced since.
How much has Cage Bio raised?
Cage Bio has raised $57.6M in total funding across 3 recorded rounds.
When did Cage Bio last raise?
Cage Bio last raised in Apr 2024 (Early Stage VC), raising $11.0M.