# Upstream Bio

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

- Industry: Biotechnology
- Headquarters: Waltham, US
- Website: www.upstreambio.com/
- Total disclosed funding: $409M
- Latest round: Series B (Jun 19, 2023)
- Investors on record: 13

## About

Based in Massachusetts, US, and founded in 2021, Upstream Bio, Inc. operates as a Biotechnology research company that offers inflammation antibody therapy for the treatment of severe asthma, inflammatory, and allergic diseases. The company was Co-founded by Oren M. Becker and others. As of 2023, the company is led by its CEO Samantha Truex. The biotechnology firm’s lead program is at the clinical stage of a monoclonal antibody that inhibits the TSLP receptor. Thymic Stromal Lymphopoietin (TSLP) is a cytokine that is the key driver for allergic and inflammatory disease. In June 2023, Upstream Bio, Inc. raised USD 200 million in series B funding co-led by new investors Patient Square Capital and Venrock, with participation from returning investors OrbiMed Advisors, Access Industries, Decheng Capital, Altshuler Shaham, TCG Crossover Management, HBM Partners, Omega Funds and Samsara BioCapital. New investors Bain Capital and Wellington Management also participated in the round. In October 2024, Upstream Bio, Inc. raised USD 255 million in an IPO, selling 15 million shares at USD 17 per share, within the expected USD 15-17 range, on the Nasdaq Global Select Market under the ticker symbol "UPB." Upstream Bio, Inc. has granted the underwriters a 30-day option to purchase up to an additional 1.87 million shares of common stock as part of the listing. Following the transaction, OrbiMed Advisors retained a 9.48% minority stake, Altshuler Shaham retained a 6.61% minority stake, and Decheng Capital retained a 6.01% minority stake in Upstream Bio, Inc., respectively.

## Funding rounds

- Series B, Jun 19, 2023, $200M — OrbiMed Advisors, Bain Capital, HBM Partners, Venrock, Access Industries, Wellington Management, Omega Funds, Altshuler Shaham, Decheng Capital, Samsara BioCapital, Patient Square Capital, TCG Crossover Management
- Series A, Feb 10, 2023, $8M — HBM Partners
- Series A, Dec 5, 2022, $1M — HBM Partners
- Series A, Oct 21, 2021, $200M — OrbiMed Advisors, HBM Partners, Access Industries, Omega Funds, Altshuler Shaham, Decheng Capital, Maruho Co., Ltd., Samsara BioCapital, TCG Crossover Management

## Investors

- OrbiMed Advisors (https://capitalatlas.ai/funds/orbimed-advisors) — Series A, Series B
- HBM Partners (https://capitalatlas.ai/funds/hbm-partners) — Series A, Series B
- Access Industries (https://capitalatlas.ai/funds/access-industries) — Series A, Series B
- Omega Funds (https://capitalatlas.ai/funds/omega-funds) — Series A, Series B
- Altshuler Shaham — Series A, Series B
- Decheng Capital (https://capitalatlas.ai/funds/decheng-capital) — Series A, Series B
- Maruho Co., Ltd. — Series A
- Samsara BioCapital (https://capitalatlas.ai/funds/samsara-biocapital) — Series A, Series B
- TCG Crossover Management (https://capitalatlas.ai/funds/tcg-crossover-management) — Series A, Series B
- Bain Capital (https://capitalatlas.ai/funds/bain-capital) — Series B
- Venrock (https://capitalatlas.ai/funds/venrock) — Series B
- Wellington Management (https://capitalatlas.ai/funds/wellington-management) — Series B
- Patient Square Capital (https://capitalatlas.ai/funds/patient-square-capital) — Series B