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

  1. 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.
  2. 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.
  3. 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.
  4. 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.
  5. 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.
  6. 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

  • FidoCure: Shared investor: Tau Ventures. A tumor sequencing service that routes dogs with cancer toward human targeted therapy drugs, compounded to canine doses
  • Notable Labs: Shared investor: Builders Vc. A blood cancer company that screened drugs against a patient’s own cells to predict who would respond, in-licensed a shelved Boehringer Ingelheim compound, reached
  • Future Fields: Shared investor: Builders Vc. An Edmonton company that replaced the steel bioreactor with a genetically engineered fruit fly
  • Cairns Health: Shared investor: Tau Ventures. A voice controlled care companion, Luna, that watches over older adults at home using radar instead of cameras

Sources

  1. Public recordForm D, Arpeggio Biosciences, Inc.SEC · filed Aug 29, 2019
  2. Public recordForm D, Arpeggio Biosciences, Inc.SEC · filed Sep 6, 2019
  3. Public recordForm D, Arpeggio Biosciences, Inc.SEC · filed Sep 23, 2022
  4. Public recordForm D, Arpeggio Biosciences, Inc.SEC · filed Mar 27, 2025
  5. Public recordForm D, Arpeggio Biosciences, Inc.SEC · filed Nov 24, 2025
  6. IndependentArpeggio Bioscience raises $17M Series A to bolster drug trialsBoulder Daily Camera, Lucas High · Sep 7, 2022
  7. CompanyArpeggio Biosciences raises $20M in latest offeringVenture Partners at CU Boulder, via BizWest · Nov 25, 2025
  8. CompanyArpeggio Biosciences Inc. startup portfolio pageVenture Partners at CU Boulder · updated May 19, 2026
  9. IndependentArpeggio plays final chord as biotech disbands on poor prospects for Nrf2 programFierce Biotech, James Waldron · Aug 10, 2026

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.