Funding profile · Oncology drug discovery

Talus Bio

One Form D, one led round, and a grant stack that paid for most of the technology. The filing landed eight days before the press release, and it shows less money in the door than the headline.

$19.7MTotal venture funding, company-reported (Aug 2024)
$9.42MSold of $11.3M offered, the only Form D (Aug 2024)
$6.43MFederal SBIR and STTR awards on record
11Investors in the 2024 round, about $857,000 each

Data as of September 23, 2026. Company-reported figures are labeled.

Rounds at a glance

When Round Amount Investors Source
2020 to 2021 Pre-seed $1.5M Led by Fifty Years Founder interview
2021 Y Combinator, Summer 2021 $125,000 Y Combinator Independent
2022 Seed $7.0M Led by NFX; FundersClub, Fifty Years, Boom Capital, BoxOne, Y Combinator, angels Independent
Jul to Aug 2024 Seed+ $11.2M announced; $9.42M sold at filing Led by Two Bear Capital; WRF Capital, NFX, YC Continuity Fund, Funders Club VC, BoxOne Form D and release
2021 to 2028 Federal SBIR and STTR $6.43M NSF, NCI, NCATS, NIGMS SBIR.gov, NIH
Aug 2023 State cancer grants $2.3M Washington State Andy Hill CARE Fund Company release

What the filings show

Talus Bioscience, Inc. · Form D · filed Aug 12, 2024

First sale
Jul 29, 2024
Offered
$11,300,000 equity
Sold
$9,423,516 · $1,876,484 remaining
Investors
11 · average about $856,700
Exemption
Rule 506(b) · no non-accredited investors
Revenue range
Decline to Disclose
Related persons
Alex Federation (executive officer, director, promoter); Lindsay Pino (executive officer, director); Michelle Briscoe (executive officer); Omri Amirav-Drory (director); J. Seth Strattan (director)
Signed
Michelle Briscoe, Chief Operating Officer
Filing
SEC EDGAR, CIK 0002033246

Reading the filings

  1. The filing beat the announcement.First sale was July 29, 2024, the Form D was filed August 12, and the press release came August 20. At filing, $9,423,516 of an $11,300,000 offering had been sold, $1,876,484 short of the $11.2 million headline. No amended Form D has been filed since.
  2. Eleven checks, fund sized.$9,423,516 divided by 11 investors is about $856,700 each, which fits the six named funds plus a few individuals, not an angel crowd.
  3. Everything before 2024 is invisible in EDGAR.The company CIK, 0002033246, was created for this filing. The 2020 pre-seed, the Y Combinator money and the 2022 NFX round have no Form D. An issuer raising under Section 4(a)(2) rather than Regulation D files no notice, so the silence is not evidence that nothing moved.
  4. Close to a third of the capital is non-dilutive.About $6.43 million of federal awards plus $2.3 million of state CARE Fund grants is $8.73 million, against $19.7 million of company-reported venture: roughly 31 percent of about $28.4 million raised.
  5. The board follows the leads.The Form D lists both founders, Omri Amirav-Drory of NFX, which led in 2022, and J. Seth Strattan of Two Bear Capital, which led in 2024 and took a seat with the financing.
  6. Two years of quiet.No round has been announced since August 2024 and no Form D filed since. In the same window a $1,035,634 NCATS Phase II award started, running July 2026 to June 2028, extending the runway without touching the cap table.

Commercial signals

Signal Detail Source type
Regulatory No FDA submission, no product, and no registered trial as of Sep 23, 2026. Public record
Revenue Not disclosed. The Form D reports the revenue range as Decline to Disclose. Public record
Partnership PRISM BioLab, Dec 17, 2025. Shared discovery costs and shared out-licensing profits. No upfront payment disclosed. Partner-stated
Platform access Free regulome profiling for a few academic and industry groups from Jul 2025, with the datasets to be open sourced. Company-stated
Pipeline Preclinical programs against Brachyury, NONO and AR-V7 shown at AACR in Apr 2025. No pipeline page on the website in Sep 2026. Company-stated
Headcount 17 employees reported in Aug 2024, up from 13 in Jun 2022. Independent

What to watch

  • A new Form D, due within 15 days of a first sale. The last one is more than two years old.
  • An amended Form D for the 2024 round, which would show whether the remaining $1,876,484 was ever sold.
  • Whether Ptarmigan-1 is licensed or sold as a service, which would put revenue against the platform work.
  • A candidate nomination or an IND, the point at which a Series A becomes necessary.

The Talus Bio story on Healthcare DiscoveryHealthcare Discovery

Related companies

  • Harmonic Discovery: Shared investor: Boom Capital. A New York company using machine learning to design kinase drugs that engage several targets on purpose while avoiding the ones that cause harm
  • Dorian Therapeutics: Shared investor: Boom Capital. A Stanford spinout that built small molecule blockers of USP16, the enzyme that strips a silencing mark off histone H2A, and pointed them at the arthritic knee
  • Science Exchange: Shared investor: Yc Continuity Fund. A marketplace for ordering experiments that became procurement software for big pharma, and that sourced the laboratories for the largest public test of whether
  • Viosera Therapeutics: Shared investor: Nfx. A Washington University spinout that built a three drug antibiotic for MRSA, then rebuilt itself around cancer drug resistance as resistanceBio

Sources

  1. Public recordForm D, Talus Bioscience, Inc., CIK 0002033246SEC · Aug 12, 2024
  2. Public recordEDGAR full text search, Talus Bioscience, all formsSEC · Sep 23, 2026
  3. Public recordSBIR.gov portfolio, Talus Bioscience IncSBA · Sep 23, 2026
  4. Public recordNIH RePORTER awards to Talus Bioscience, Inc.NIH · FY2022 to FY2026
  5. IndependentSeattle startup lands $9.75M to build up drug discovery platformGeekWire · Jun 6, 2022
  6. IndependentSeattle biotech startup secures $11.2MGeekWire · Aug 20, 2024
  7. CompanyNew funding for the AI platform, with grant and venture totalsTalus Bio · Aug 20, 2024
  8. CompanyNew grants for transcription factor drugs, CARE Fund and NIHTalus Bio · Aug 18, 2023
  9. PartnerCollaboration with PRISM BioLabTalus Bio and PRISM BioLab · Dec 17, 2025

Compiled from SEC, NIH, NSF and SBA public records and published reports as of September 23, 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 Talus Bio. This page is not an offer to sell or a recommendation to buy any security.