Funding profile · Preclinical drug discovery
Arpeggio Bio
Five SEC Form D filings from 2019 to 2025 show a company that kept raising money, including a large offering that opened months before it wound down in 2026.
$46.4MTotal sold across five SEC Form D filings, 2019 to 2025
$20.2MSold in the 2022 offering the company called a $17M Series A
$20.0MSold of a $35.3M target in the filing opened Nov 12, 2025
$30M+Company-reported total raised, as of the 2026 wind down
Data as of September 25, 2026. Company-reported figures are labeled.
Rounds at a glance
| When | Round | Amount | Investors | Source |
|---|---|---|---|---|
| Aug 2019 | SAFE | $125,000 sold of $500,000 offered | 1 investor | Form D |
| Aug 2019 | SAFE, reported as the $3.2M seed closed Jan 2020 | $1,970,000 sold of $3,000,000 offered | 5 investors | Form D |
| Sep 2022 | Series A, announced as $17 million, led by Builders VC | $20,248,534 sold of $20,279,156 offered | 28 investors; Khosla Ventures, TechU Ventures, FundersClub, Tencent, ATEM Capital, Formic Ventures, Tau Ventures and others named in press | Form D exceeds press figure |
| Mar 2025 | Offering, equity and warrants | $4,026,774 new money sold of $4,593,397 offered, plus $93,396 from warrant exercise | 14 investors | Form D |
| Nov 2025 | Offering opened Nov 12, 2025, filed Nov 24, 2025 | $20,037,075 sold of $35,318,765 offered | 12 investors | Form D |
What the filings show
Arpeggio Biosciences, Inc. · Form D · filed Nov 24, 2025
- First sale
- Nov 12, 2025
- Offered
- $35,318,765 equity
- Sold
- $20,037,075 · $15,281,690 remaining
- Investors
- 12 · average about $1,669,756
- Exemption
- Rule 506(b)
- Related persons
- Joseph G. Azofeifa (executive officer, director); Laura Norris (executive officer); Timothy Read (executive officer); Samuel Kintz (director); David Allison (director); Mira Chaurushiya (director); Aaron Royston (director)
- Filing
- SEC EDGAR, CIK 0001786698
Arpeggio Biosciences, Inc. · Form D · filed Mar 27, 2025
- First sale
- Mar 19, 2025
- Offered
- $4,593,397, equity, options and securities to be acquired
- Sold
- $4,026,774 · $566,623 remaining. Filing notes $4,026,773.70 new money plus $93,396.15 from warrant exercise
- Investors
- 14 · average about $287,626
- Exemption
- Rule 506(b)
- Related persons
- Joseph G. Azofeifa (executive officer, director); Timothy Read (executive officer, director); Amit Mehta (director); Laura Norris (executive officer, director)
- Filing
- SEC EDGAR, CIK 0001786698
Arpeggio Biosciences, Inc. · Form D · filed Sep 23, 2022
- First sale
- Aug 3, 2022
- Offered
- $20,279,156 equity
- Sold
- $20,248,534 · $30,622 remaining
- Investors
- 28 · average about $723,162
- Exemption
- Rule 506(b)
- Related persons
- Joseph G. Azofeifa (executive officer, director); Timothy Read (executive officer, director); Amit Mehta (director); Eric Martin (executive officer); Laura Norris (executive officer, director)
- Filing
- SEC EDGAR, CIK 0001786698
Arpeggio Biosciences, Inc. · two Form D SAFEs · filed Aug 29 and Sep 6, 2019
- First sales
- Aug 16, 2019 and Aug 22, 2019
- Offered
- $500,000 and $3,000,000, Simple Agreement for Future Equity
- Sold
- $125,000 (1 investor) and $1,970,000 (5 investors); $2,095,000 combined
- Exemption
- Rule 506(b)
- Related persons
- Joseph G. Azofeifa (executive officer, director, promoter); Timothy Read (director, promoter); Joe McMahon (director); Daniel Weaver (promoter); Robin D. Dowell-Deen (promoter); Laura Norris (executive officer)
- Filing
- SEC EDGAR, CIK 0001786698
Reading the filings
- The Series A filing sold more than the press release.Press called it a $17 million round led by Builders VC. The Form D shows $20,248,534 sold from 28 investors, about $3.2 million more than the announced figure, unexplained by the company.
- The 2019 SAFEs sold less than the reported seed.Two SAFE filings from August 2019 sold $2,095,000 combined. The company announced a $3.2 million seed closed in January 2020, oversubscribed by more than $2 million. No amendment was filed, so the gap is unresolved in the public record.
- A large new offering landed eight months before the shutdown.The filing opened November 12, 2025 for up to $35,318,765 and had $20,037,075 sold from 12 investors when filed, “about two-thirds” of target per CU Boulder. By August 2026 the company had decided to wind down.
- March 2025 blended new cash with warrant exercises.The filing breaks the $4,026,774 sold into $4,026,773.70 new money and $93,396.15 from warrant exercise, unusually granular for a Form D.
- The board turned over investor seats.Amit Mehta of Builders VC is a director on the March 2025 filing but not the November 2025 filing, which instead lists Samuel Kintz, David Allison, Mira Chaurushiya and Aaron Royston. The change was not disclosed.
- Public totals for money raised do not agree.Press in 2022 cited “more than $20 million.” CU’s portfolio page, updated after the wind down, says “over $30 million.” One trade blog said “over $60 million,” uncorroborated elsewhere. Summing all five Form D filings gives $46,407,383.
Commercial signals
| Signal | Detail | Source type |
|---|---|---|
| Forma Therapeutics | Collaboration announced by both firms, March 2018, applying Arpeggio’s platform to Forma’s candidates. | Independent |
| Pharma partner count | Company said in 2022 it worked with 40 plus biotech firms. No independent confirmation found. | Company-stated |
| Johnson & Johnson | Claimed only on Arpeggio’s Y Combinator listing. No independent report of this deal or any Arpeggio trial found. | Unconfirmed claim |
| Clinical stage | Preclinical through its final Form D filing. No registered trial found. | Public record |
| Federal grants | No NIH, NSF or SBIR award tied to Arpeggio was found; capital appears entirely private. | Not found |
| Wind down | CEO announced the wind down, reported August 2026, after the lead NRF2 program could not separate efficacy from an off target liability. | Independent |
What to watch
- Whether the $15.3 million left unsold in the November 2025 offering was ever raised, or the filing amended.
- Any disclosure of what happens to the roughly $46 million invested, or to the GRETA platform data.
- Whether Azofeifa, Read or Norris file a new Form D under a successor entity.
The Arpeggio Bio story on Healthcare DiscoveryHealthcare Discovery
Related companies
Sources
- Public recordForm D, Arpeggio Biosciences, Inc.
- Public recordForm D, Arpeggio Biosciences, Inc.
- Public recordForm D, Arpeggio Biosciences, Inc.
- Public recordForm D, Arpeggio Biosciences, Inc.
- Public recordForm D, Arpeggio Biosciences, Inc.
- IndependentArpeggio Bioscience raises $17M Series A to bolster drug trials
- CompanyArpeggio Biosciences raises $20M in latest offering
- CompanyArpeggio Biosciences Inc. startup portfolio page
- IndependentArpeggio plays final chord as biotech disbands on poor prospects for Nrf2 program
Compiled from SEC public records and published reports as of September 25, 2026. Form D notices report offerings under Regulation D; amounts reflect the filing date and may not capture later sales. Healthcare Venture Capital Fund holds no position in Arpeggio Bio. This page is not an offer to sell or a recommendation to buy any security.
