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
What is TwoStep Therapeutics worth?
$14.5Mlast reported valuation · Oct 2026

TwoStep Therapeutics's last reported valuation, Mar 2024. 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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TwoStep Therapeutics funding history

2 rounds
DateRoundRaisedPost-money
Jan 2026Early Stage VC$21.1M▮
Mar 2024Early Stage VC$6.5M▮
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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).

How TwoStep Therapeutics'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 TwoStep Therapeutics, 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 TwoStep Therapeutics

What is TwoStep Therapeutics worth?
TwoStep Therapeutics is valued at $14.5M as of Oct 2026. TwoStep Therapeutics's last reported valuation, Mar 2024. Nothing priced has surfaced since.
How much has TwoStep Therapeutics raised?
TwoStep Therapeutics has raised $51.5M in total funding across 2 recorded rounds.
When did TwoStep Therapeutics last raise?
TwoStep Therapeutics last raised in Jan 2026 (Early Stage VC), raising $21.1M.