# Dawn Biopharma

> Dawn Biopharma is a VC fund in Wilmington backing Biotechnology and Health Care. See 14 investments, check sizes, portfolio. Updated Aug 2026.

- Type: VC Fund
- Location: Wilmington, United States
- Total investments: 14
- Last investment: Aug 2026
- Lead investor: 21%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/dawn-biopharma/

Dawn Biopharma is a global investment firm of KKR.

## Round sizes

| Stage | Round size |
| --- | --- |
| Seed | $15M–$32M |
| Series A | $17M–$165M |
| Series B | $115M–$135M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Biotechnology | 8 | 57% |
| Health Care | 4 | 29% |
| Therapeutics | 3 | 21% |
| Medical | 2 | 14% |
| Oncology | 1 | 7% |

9 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Series A | 6 | 43% |
| Seed | 2 | 14% |
| Series B | 2 | 14% |
| Series C | 2 | 14% |
| Post-IPO Equity | 1 | 7% |

### Country

| Country | Investments | Share |
| --- | --- | --- |
| United States | 3 | 21% |
| Denmark | 2 | 14% |
| France | 1 | 7% |
| Belgium | 1 | 7% |
| Germany | 1 | 7% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Expedition Therapeutics | Expedition Therapeutics operates as an unincorporated association. | $115M | Series B | Aug 05, 2026 |  |
| Vedana Therapeutics | Vedana Therapeutics is a Seattle biotechnology company developing next-generation antibody therapies for migraine prevention. | $46M | Series A | Jun 17, 2026 |  |
| ADCendo | ADCendo ApS is a biotech company dedicated to developing new types of anti-cancer drugs. We focus on antibody-drug conjugates (ADCs) directed at novel targets, that have been found to be overexpressed by several cancer forms, that are all characterized by a significant unmet need for novel treatment. | $75M | Series C | Apr 14, 2026 |  |
| Bambusa Therapeutics | Bambusa Therapeutics operates as biotechnology company, that focuses on developing bispecific antibodies. |  | Series A | Nov 17, 2025 |  |
| Adcytherix | Adcytherix is a biopharmaceutical firm that specializes in the development of new antibody drug conjugates (ADC) to treat diseases with a high unmet need, including cancer. | $122.8M | Series A | Oct 16, 2025 |  |
| Expedition Therapeutics | Expedition Therapeutics operates as an unincorporated association. | $165M | Series A | Oct 09, 2025 |  |
| Antag Therapeutics | Antag Therapeutics operator of a biotechnology company intended to develop metabolic and anti-obesity therapeutic drugs.The company specializes in the development of peptide-based GIP receptor antagonist in order to monitor dietary-related metabolic diseases through the infusion, enabling the healthcare industry to decrease blood flow and lipiduptake in adipose tissue in an efficient manner. | $84.1M | Series A | Dec 04, 2024 |  |
| ADCendo | ADCendo ApS is a biotech company dedicated to developing new types of anti-cancer drugs. We focus on antibody-drug conjugates (ADCs) directed at novel targets, that have been found to be overexpressed by several cancer forms, that are all characterized by a significant unmet need for novel treatment. | $135M | Series B | Nov 25, 2024 |  |
| Bambusa Therapeutics | Bambusa Therapeutics operates as biotechnology company, that focuses on developing bispecific antibodies. | $15M | Seed | Sep 09, 2024 |  |
| Adcytherix | Adcytherix is a biopharmaceutical firm that specializes in the development of new antibody drug conjugates (ADC) to treat diseases with a high unmet need, including cancer. | $32.2M | Seed | Jun 11, 2024 |  |

10 of 14 investments shown.

## Co-investors
- [Pontifax](https://shizune.co/investors/profile/pontifax) — VC Fund, 9 deals together
- [RA Capital Management](https://shizune.co/investors/profile/ra-capital-management) — VC Fund, 8 deals together
- [Novo Holdings](https://shizune.co/investors/profile/novo-a-s) — VC Fund, 7 deals together
- [HealthCap](https://shizune.co/investors/profile/healthcap) — VC Fund, 4 deals together
- [Ysios Capital](https://shizune.co/investors/profile/ysios-capital) — VC Fund, 4 deals together
- [Biotechnology Value Fund](https://shizune.co/investors/profile/biotechnology-value-fund) — VC Fund, 3 deals together

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### Similar country
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## Featured in investor lists
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## FAQ

### What does Dawn Biopharma invest in?

Dawn Biopharma invests primarily in Biotechnology, Health Care and Therapeutics startups, most often at Series A and Seed stage. Most of the 14 investments tracked by Shizune back companies in United States. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Dawn Biopharma's check size?

Dawn Biopharma typically joins rounds of $15M–$32M at Seed, $17M–$165M at Series A and $115M–$135M at Series B. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Dawn Biopharma participates in.

### When did Dawn Biopharma last invest?

The most recent investment recorded for Dawn Biopharma closed in Aug 2026. Shizune tracks 14 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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