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TwoStep Therapeutics

San Carlos, CA · Founded 2023 · Privately Held (backing)

Operator of a biotechnology company intended to develop novel tumor-targeting therapeutics for solid tumors. TwoStep Therapeutics is based in San Carlos, CA and was founded in 2023. Its last reported valuation was $14.5 million in Mar 2024. It has raised $51.5 million across 2 recorded rounds; the latest was a $21.1 million early-stage round in Jan 2026.

Last reported valuation
$14.5M
Oct 2026
Priced at
—
Total raised
$51.5M
Last round
Early Stage VC
Jan 2026

TwoStep Therapeutics key facts

as of Oct 2026
  • Operator of a biotechnology company intended to develop novel tumor-targeting therapeutics for solid tumors.
  • TwoStep Therapeutics is valued at approximately $14.5M as of Oct 2026 (last reported valuation).
  • It has raised $51.5M across 2 recorded rounds; the latest was Early Stage VC ($21.1M) in Jan 2026.
  • Notable investors include Insight Partners (New York), NFX, Alexandria Venture Investments, 2048 Ventures, Medical Excellence Capital — 7 tracked in total.
  • TwoStep Therapeutics has filed 1 Form D with the SEC, most recently Mar 2024 ($6.5M sold to 6 investors).
  • Status: Privately Held (backing).
Last reported valuation
LOW confidence
$14.5M

TwoStep Therapeutics's last reported valuation, Mar 2024. Nothing priced has surfaced since.

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TwoStep Therapeutics funding rounds

2 rounds
Jan 2026Early Stage VC$21.1MSEC filing▮
Mar 2024Early Stage VC$6.5MSEC filing▮
Full funding history →

TwoStep Therapeutics valuation

TwoStep Therapeutics's last reported valuation was $14.5 million in Mar 2024. No priced round, secondary trade or fund mark has surfaced since.

How much has TwoStep Therapeutics raised?

TwoStep Therapeutics has raised $51.5 million in total; 2 of its rounds are on record. The largest on record was a $6.5 million early-stage round in Mar 2024; the most recent was a $21.1 million early-stage round in Jan 2026.

TwoStep Therapeutics has filed 1 Form D with the SEC, most recently in Mar 2024 ($6.5 million sold to 6 investors).

TwoStep Therapeutics investors

7 investors are on record for TwoStep Therapeutics, including Insight Partners (New York), NFX, Alexandria Venture Investments and 2048 Ventures. The early-stage round in Jan 2026 drew 8 investors.

About TwoStep Therapeutics

Operator of a biotechnology company intended to develop novel tumor-targeting therapeutics for solid tumors. The company is developing a diverse pipeline of targeted cancer therapies using a unique integrin-binding agent that enables delivery of various payloads to virtually any solid tumor, enabling clients to deliver to virtually any solid tumor using a unique and modular delivery system.

Sector
Healthcare
HQ
San Carlos, CA, United States
Founded
2023
Employees
7
Ownership
Privately Held (backing)

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