# 89bio

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/89bio

- Industry: Pharmaceuticals
- Headquarters: San Francisco, US
- Website: www.89bio.com/
- Total disclosed funding: $60M
- Latest round: Series A (Oct 25, 2018)
- Investors on record: 4

## About

89bio, Inc., founded in 2018 and headquartered in San Francisco, US, is a clinical-stage biopharmaceutical company that specializes in the development of therapies for liver and cardiometabolic diseases. In September 2025, Roche, a portfolio company of Softbank, agreed to fully acquire 89bio, Inc. from Longitude Capital, OrbiMed Advisors, Pontifax Venture Capital, and RA Capital for approximately USD 2.5 billion or USD 14.50 per share in cash. As part of the transaction 89bio, Inc. stockholders would also receive a non-tradeable contingent value right (CVR) for up to an aggregate of US$6.00 per share in cash, subject to achieving certain milestones. The deal was completed in October 2025. Following the transaction, the company was delisted from the NASDAQ.

89bio, Inc. is a clinical-stage biopharmaceutical company focused on the development of innovative therapies to address liver and cardiometabolic diseases. The company’s primary product, Pegozafermin (BIO89-100), leverages an understanding of FGF21, a master metabolic regulator, to provide potential treatment options for patients suffering from various metabolic disorders. This therapy aims to fill a critical gap in the market for patients who have limited or no approved treatment options available to them. The end-users of these therapies include patients with liver diseases and cardiometabolic conditions, with the company's products primarily marketed across North America and select international markets, targeting healthcare providers, hospitals, and specialty clinics that treat these conditions.
89bio generates revenue through strategic partnerships and collaborations with healthcare institutions and pharmaceutical companies, focusing on B2B transactions. Revenue streams are derived from milestone payments, royalties, and potential licensing agreements related to their flagship product, Pegozafermin, as it progresses through clinical trials and prepares for market entry. The transaction structure involves upfront payments upon entering partnerships, followed by performance-based payments tied to developmental milestones, and financial returns from product sales post-commercialization. The specific pricing models for their therapies are tailored to the healthcare market, aligning with the value provided to patients and healthcare providers, ensuring accessibility while supporting the company's financial sustainability.

## Funding rounds

- Series A, Oct 25, 2018, $60M — OrbiMed Advisors, Longitude Capital, Pontifax Venture Capital, RA Capital Management

## Investors

- OrbiMed Advisors (https://capitalatlas.ai/funds/orbimed-advisors) — Series A
- Longitude Capital (https://capitalatlas.ai/funds/longitude-capital) — Series A
- Pontifax Venture Capital (https://capitalatlas.ai/funds/pontifax-venture-capital) — Series A
- RA Capital Management (https://capitalatlas.ai/funds/ra-capital-management) — Series A