Funding profile · Gastrointestinal therapeutics

Intact Therapeutics

A 2015 Stanford spinout, Y Combinator Winter 2019, funded mainly by grants. Public agencies have put $2.46 million in. No Form D has ever been filed under the company name, and no priced round is confirmed by a primary source.

$2.46MPublic grants on record: NSF, NIH and CIRM
$1.52MSBIR awards, two Phase I and one Phase II, per SBIR.gov
$942KCIRM Quest award DISC2-13232, the single largest item
0Form D notices filed under Intact Therapeutics, Inc.

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

Rounds at a glance

When Round Amount Investors Source
Winter 2019 Y Combinator batch Not disclosed Y Combinator YC listing
Aug 2020 NSF SBIR Phase I $224,999 National Science Foundation Public record
2022 CIRM Quest, DISC2-13232 $942,050 California Institute for Regenerative Medicine Public record
Dec 2021 Reported Series A $250,000 reported Not named in any primary record Database report
Jun 2023 to May 2025 NIH SBIR Phase I, 1R43DK136359-01 $296,475 NIDDK Public record
2024 NSF SBIR Phase II, contract 2307164 $999,783 National Science Foundation Public record
Named, undated Equity investors named in a partner release Not disclosed Y Combinator, Encube Ethicals, Brightstone Capital Partner release
Jun 2025 to Feb 2026 Processa option, equity component 3.5% stake on closing Processa Pharmaceuticals Lapsed

What the filings show

Intact Therapeutics, Inc. · Form D · none on file

Filings found
None under the company name, as of Sep 23, 2026
Name collisions
13 Form D filings mention the word Intact. All belong to Intact Vascular, Inc., Intact Vascular, LLC, Intact Medical Corp. or Iona Energy Inc.
What that means
Regulation D notices are required only for offerings made under that exemption. A company raising under Section 4(a)(2), or on convertible instruments never reported, files nothing.
Effect
Every equity figure comes from a database, an accelerator listing or a partner press release, not from a filing

Federal and state awards · on record · 2020 to 2025

NSF Phase I
$224,999, award year 2020, upper GI bleeding thermogel
NSF Phase II
$999,783, contract 2307164, solicitation NSF 22-552, award year 2024
NIH Phase I
$296,475, 1R43DK136359-01, NIDDK, Jun 1, 2023 to May 31, 2025, PI Jeffrey Linhardt
CIRM
$942,050, DISC2-13232, Quest Discovery Stage, status closed
Total
$2,463,307
Registrant
UEI ZYZ1FU7HBU73, 3 employees at the time of the SBIR portfolio record

Reading the filings

  1. The public sector is the lead investor.$2,463,307 of non-dilutive money is documented to the dollar across four awards. No equity round is documented anywhere but in databases. On the evidence available, grants are the majority of the capital that has entered this company.
  2. The databases undercount, and they disagree with each other.CB Insights puts total raised at $1.37 million and lists the stage as a grant, with the last raise of about $1 million roughly two years before mid 2025. That is the NSF Phase II award of $999,783, counted as a funding round. Tracxn reports $150,000 across four rounds from Y Combinator. Neither figure reaches the grant total on the public record.
  3. The $250,000 Series A has no primary source.A December 17, 2021 Series A of that size appears in Crunchbase-derived database records. No Form D, no press release and no investor announcement corroborates it. A round of that size is angel scale, not institutional, and it is a quarter of what the NSF alone paid in 2024.
  4. The largest deal on the table was never cash.The June 2025 Processa term sheet was worth $452.5 million in stated milestones, of which $432.5 million sat in commercial milestones payable only on product sales. The near-term cash was $2.5 million, and Processa owed 60 percent of any cash to its own licensor, leaving about $1 million net to Processa on exercise. Intact would have paid partly in paper: a 3.5 percent equity stake. The option expired on February 12, 2026 with nothing executed.
  5. Grant cadence is the signal to track.Awards landed in 2020, 2022, 2023 and 2024, close to one a year. The NIH award ended May 31, 2025 and no new federal award appears after the 2024 NSF Phase II. For a company funded mostly by grants, the next award, or its absence, is the clearest read available.
  6. Headcount stays small.SBIR.gov records 3 employees, the Y Combinator listing 4, and Tracxn 7 as of August 2026. This is a handful of people running four programs against three disease areas.

Commercial signals

Signal Detail Source type
Regulatory No FDA approval, clearance or marketing record under Intact Therapeutics. NIH aims place GLP IND-enabling studies in a future phase. Public record
Clinical No study registered with Intact Therapeutics as sponsor. GlobalData listed INT-102 as Phase I in January 2025. Not found
Company label The website describes a “clinical-stage biopharmaceutical company.” Differs from the registry
Intellectual property Four published patent applications, filed 2020 to 2023, covering dosing methods for inflammatory bowel conditions, GI bleeding compositions and mesalamine formulations. Public record
Partnering One announced in-licensing option, June 2025, expired February 2026. No product or distribution agreement announced. Public record
Revenue None reported by any source reviewed. Not found

What to watch

  • A first Form D. It would be the first primary evidence of an equity raise in the company’s eleven-year history.
  • A new federal or state award after the NSF Phase II, or a Phase IIB extension on contract 2307164.
  • A registered trial for INT-102 or INT-201, which would reconcile the clinical-stage description with the registry.
  • Whether the PCS12852 option is revived, replaced or dropped now that the term sheet has lapsed.
  • Any named equity investor beyond Y Combinator, Encube Ethicals and Brightstone Capital, all three of which come from a partner’s press release rather than a filing.

The Intact Therapeutics story on Healthcare DiscoveryHealthcare Discovery

Related companies

  • Promakhos Therapeutics: Also in Therapeutics. A two-person Boston biotech building an oral small molecule meant to switch the innate immune system back on in Crohn’s disease
  • SFA Therapeutics: Also in Therapeutics. A Temple University spinout turning short chain fatty acids from the human gut into oral pills
  • Origami Therapeutics: Also in Therapeutics. A small San Diego company designing oral pills that strip the mutant huntingtin protein out of brain cells while leaving the normal protein alone
  • Eugit Therapeutics: Also in Therapeutics. A San Francisco Bay Area biotech building a T cell receptor based delivery platform meant to steer drugs to diseased tissue

Sources

  1. Public recordSBIR.gov company portfolio, Intact Therapeutics, $1,521,257 across three awardsSBIR.gov · accessed Sep 23, 2026
  2. Public recordNSF SBIR Phase II award 207816, contract 2307164, $999,783SBIR.gov · award year 2024
  3. Public recordNIH RePORTER 1R43DK136359-01, NIDDK, $296,475NIH · FY2023
  4. Public recordCIRM award DISC2-13232 and institution page, $942,050California Institute for Regenerative Medicine
  5. Public recordSEC EDGAR Form D search, 13 filings mentioning Intact, none by Intact TherapeuticsSEC · Sep 2026
  6. Public recordGoogle Patents query, four published applications assigned to Intact Therapeutics, Inc.Google Patents · Sep 23, 2026
  7. IndependentProcessa Ends PCS12852 Licensing Pact With Intact TherapeuticsThe Globe and Mail, TipRanks · Feb 2026
  8. Independent$452M Deal: Processa’s Phase 2 Gastroparesis Drug Shows Promise, Attracts Major Licensing InterestStock Titan · Jun 17, 2025
  9. IndependentIntact Therapeutics company profile, total raised and patent countCB Insights · accessed Jun 2025
  10. IndependentIntact Therapeutics company profile, funding rounds and headcountTracxn · accessed Sep 2026
  11. CompanyProcessa Pharmaceuticals Signs Binding Term Sheet Granting Intact Therapeutics Exclusive Option to License Phase 2 Gastroparesis Drug CandidateGlobeNewswire, via BioSpace · Jun 17, 2025
  12. CompanyIntact Therapeutics website and Y Combinator company listingAccessed Sep 23, 2026

Compiled from SEC, NSF, NIH, CIRM, FDA and patent records and published reports as of September 23, 2026. Form D notices report offerings under Regulation D; the absence of a notice does not mean no money was raised. Healthcare Venture Capital Fund holds no position in Intact Therapeutics. This page is not an offer to sell or a recommendation to buy any security.