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Diagonal Therapeutics

Drug Discovery · Watertown, MA · Founded 2022 · Privately Held (backing)

Operator of a biotech company intended to discover and develop agonist antibodies. Diagonal Therapeutics is based in Watertown, MA and was founded in 2022. It was valued at $459 million at its early-stage round in Jan 2026, the last priced event on record. It has raised $271 million across 2 recorded rounds; the latest was a $125 million Series B in Jan 2026.

PMV mark · valuation
$458.5M
Oct 2026
Priced at
its early-stage round
Jan 2026
Total raised
$271.3M
Last round
Early Stage VC (Series B)
Jan 2026

Diagonal Therapeutics key facts

as of Oct 2026
  • Operator of a biotech company intended to discover and develop agonist antibodies.
  • Diagonal Therapeutics is valued at approximately $458.5M as of Oct 2026, set at its early-stage round, Jan 2026; nothing has traded since, per PrivateMarketView’s mark.
  • It has raised $271.3M across 2 recorded rounds; the latest was Early Stage VC (Series B) ($125.0M) in Jan 2026.
  • Notable investors include Lightspeed Venture Partners, Viking Global Investors, RA Capital Management, Logos Capital, Frazier Healthcare Partners — 17 tracked in total.
  • Status: Privately Held (backing).
PrivateMarketView mark
MEDIUM confidence
$458.5M

Valued at $458.5M at its early-stage round, Jan 2026. Nothing has traded since.

set by its last priced roundas of Oct 2026question about this number?
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Diagonal Therapeutics funding rounds

2 rounds
Jan 2026Early Stage VC (Series B)$125.0M▮
Apr 2024Early Stage VC (Series A)$128.0M▮
Full funding history →

Diagonal Therapeutics valuation

Diagonal Therapeutics was valued at $459 million at its early-stage round in Jan 2026. That is the last priced event on record: no secondary trade or institutional fund mark has moved the figure since.

How much has Diagonal Therapeutics raised?

Diagonal Therapeutics has raised $271 million across 2 recorded rounds since 2024. The largest was a $128 million Series A in Apr 2024; the most recent was a $125 million Series B in Jan 2026.

Diagonal Therapeutics investors

17 investors are on record for Diagonal Therapeutics, including Lightspeed Venture Partners, Viking Global Investors, RA Capital Management and Logos Capital. By type, the record holds 5 hedge funds, 3 venture capital firms and 2 asset managers. The Series B in Jan 2026 drew 16 investors.

Comparable companies

Comparable drug discovery names by valuation on PrivateMarketView: Rivus Pharmaceuticals ($489 million), Electra Therapeutics ($479 million) and CORXEL Pharmaceuticals ($475 million).

About Diagonal Therapeutics

Operator of a biotech company intended to discover and develop agonist antibodies. The company's platform combines proprietary computational and experimental techniques to overcome historical challenges associated with agonist antibody drug discovery, enabling medical practitioners to deliver therapies to patients, including therapies for hereditary hemorrhagic telangiectasia and pulmonary arterial hypertension.

Industry
Drug Discovery
Sector
Healthcare
HQ
Watertown, MA, United States
Founded
2022
Employees
28
Ownership
Privately Held (backing)

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