Funding profile · Regenerative medicine

inSoma Bio

Twelve Regulation D filings across four offerings, eight federal SBIR and STTR awards, and two state loans. Nearly half the traceable capital never diluted anyone.

$6.89MEquity sold across four Regulation D offerings, as filed
$5.32MFederal SBIR and STTR awards, eight awards, 2019 to 2024
$2.69MSold of $4.0M offered, latest filing, Jan 22, 2026
12Form D and Form D/A filings under CIK 0001814250

Data as of September 22, 2026. Company-reported figures are labeled.

Rounds at a glance

When Round Amount Investors Source
Jun to Jul 2020 First offering, before the YC batch closed $202,000 of $202,000 7 Form D
Aug to Dec 2020 Seed, launched after Y Combinator Summer 2020 $1,273,675 of $1,500,000 31 Form D, six filings
2020 to 2023 NCBiotech research loan and strategic growth loan $750,000 NCBiotech State agency
Apr 2023 to May 2024 Seed, announced as $2.5 million $2,720,749 of $3,000,000 16 Form D plus release
Sep 2025 to present Current offering, target raised once $2,689,372 of $4,000,000 15 Form D/A
2019 to 2024 Federal SBIR and STTR awards $5,316,655 NIH, NSF NIH, NSF, SBIR.gov

What the filings show

inSoma Bio, Inc. · Form D/A · filed Jan 22, 2026

First sale
Sep 24, 2025
Offered
$4,000,000, raised from $3,000,000 in the original filing
Sold
$2,689,372 · $1,310,628 remaining
Investors
15 · average about $179,000
Exemption
Rule 506(b)
Related persons
Stefan Roberts (executive officer, director); Ashutosh Chilkoti (executive officer, director); Juliana Blum, Heather Brennan, June S. Almenoff (directors)
Filing
SEC EDGAR, CIK 0001814250

inSoma Bio, Inc. · Form D/A · filed May 6, 2024

First sale
Apr 17, 2023
Offered
$3,000,000, equity and other
Sold
$2,720,749 · $279,251 remaining
Investors
16 · average about $170,000
Chain
Original D May 1, 2023 at $1,105,000 and 3 investors; D/A Jun 29, 2023 at $2,114,547 and 9 investors
Related persons
Roberts, Chilkoti, Almenoff, Blum, Brennan
Filing
SEC EDGAR, CIK 0001814250

inSoma Bio, Inc. · Form D/A · filed Dec 1, 2020

First sale
Aug 20, 2020
Offered
$1,500,000, raised from $1,000,000 during the raise
Sold
$1,273,675 · $226,325 remaining
Investors
31 · average about $41,000
Chain
Six filings in under three months: $50,000 and 1 investor on Sep 3, 2020, then $110,000 and 4, $310,000 and 5, $385,000 and 8, $1,180,000 and 29, $1,273,675 and 31
Related persons
Roberts, Chilkoti
Filing
SEC EDGAR, CIK 0001814250

inSoma Bio, Inc. · Form D · filed Jul 9, 2020

First sale
Jun 24, 2020
Offered
$202,000
Sold
$202,000 · nothing remaining
Investors
7 · average about $29,000
Related persons
Ashutosh Chilkoti, Stefan E. Roberts
Filing
SEC EDGAR, CIK 0001814250

Reading the filings

  1. The average check grew about four times.In the 2020 seed, 31 investors put in $1,273,675, about $41,000 each. In the current offering, 15 investors have put in $2,689,372, about $179,000 each. The company traded a crowd for a shorter list.
  2. The announcement sits between two filings.On November 1, 2023 the company said it had raised $2.5 million in 2023. The Form D on file at that date reported $2,114,547 sold, and NCBiotech logged the quarter’s raise as $2.1 million. The filed total did not reach $2,720,749 until the amendment of May 6, 2024. No filing reports exactly $2.5 million.
  3. The current round is open and short.The target went up from $3.0 million to $4.0 million between October 2025 and January 2026 while sold rose $763,800 and the investor count went from 8 to 15. As filed, $1,310,628 is still unsold. No amendment has been filed since.
  4. The money landed before the trial stopped.First sale in the current offering was September 24, 2025, six weeks after the first human dose. The registry moved the study to suspended in an update posted June 26, 2026. Nothing has been filed with the SEC since that update.
  5. The board grew with the capital.The 2020 filings list two related persons. The May 2023 filing adds June S. Almenoff, who a Duke publication says was introduced by Duke Capital Partners. By 2024 the list runs to five, adding Juliana Blum and Heather Brennan, both with breast reconstruction and regenerative tissue backgrounds.
  6. Nearly half the capital is non-dilutive.Federal awards of about $5,316,655 plus $750,000 in NCBiotech loans come to $6,066,655 against $6,885,796 in equity sold, about 47% of a traceable total near $13.0 million. SBIR.gov puts the award total at $4,622,787; the higher figure counts NSF’s own $1,673,065 obligated on award 2304430.

Commercial signals

Signal Detail Source type
Regulatory No FDA 510(k) and no PMA on record. The trial record lists the product as an FDA regulated device that is not approved. Public record
Clinical NCT07151638, first in human, 2 enrolled, suspended pending an investigation into mild to moderate delayed reactions. Public record
Accelerators Y Combinator Summer 2020. MedTech Innovator 2025 cohort and a Value Award finalist in November 2025. Independent
Partner work A 2024 NIH Phase I funds testing Fractomer combined with Renuva, the adipose allograft sold by MTF Biologics. Public record
Total raised claim A 2026 conference biography cites over $15 million raised, including $6 million in SBIR and STTR. Records account for about $13.0 million and about $5.3 million. Claim above the record
Revenue None found. No named customers, no product on the market. Not found

What to watch

  • An amended Form D on the current offering, which would show whether investors kept funding through the suspension.
  • A registry update on NCT07151638. A resumption or a withdrawal changes the financing story more than any filing.
  • Whether federal awards continue. Six of the eight are Phase I, so the Phase II conversion rate is the thing to track.
  • Any named lead investor. No Form D to date identifies one.

The inSoma Bio story on Healthcare DiscoveryHealthcare Discovery

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Sources

  1. Public recordForm D and Form D/A filings, inSoma Bio, Inc., CIK 0001814250SEC EDGAR · Jul 9, 2020 to Jan 22, 2026
  2. Public recordSBIR.gov company portfolio, inSoma Bio, Inc.SBIR.gov · accessed Sep 22, 2026
  3. Public recordNIH RePORTER, seven projects under inSoma Bio, Inc.NIH · FY2019 to FY2024
  4. Public recordNSF SBIR Phase II award 2304430NSF · Sep 2023 to Feb 2027
  5. Public recordClinicalTrials.gov NCT07151638ClinicalTrials.gov · updated Jun 26, 2026
  6. IndependentThree Triangle MedTech startups score big with key acceleratorNorth Carolina Biotechnology Center · Jul 15, 2025
  7. IndependentNCBiotech Awards $2.75 Million in Grants, Loans in Latest QuarterNorth Carolina Biotechnology Center · Aug 21, 2023
  8. IndependentDurham biotech startup inSoma Bio raises $202,000 in securityWRAL TechWire, via Business Telegraph · Jul 2020
  9. InterviewHow Stefan Roberts and inSoma Bio are upgrading fat grafting with Duke technology and supportDuke Capital Partners · Feb 19, 2024
  10. CompanyinSoma Raises $2.5M in Seed Round, and board appointment noticesinSoma Bio · Nov 2023 to Jun 2024
  11. CompanyStefan Roberts speaker biographyTechConnect World 2026

Compiled from SEC, NIH, NSF and ClinicalTrials.gov public records and published reports as of September 22, 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 inSoma Bio. This page is not an offer to sell or a recommendation to buy any security.