About Engage Bio
Engage Bio is a Healthcare company based in Santa Clara (United States) founded in 2021 by Kathryn Strobel Kwant and Will Olsen, and was acquired by Lilly in May 2026. Developer of immunotherapies for the treatment of cancer. Engage Bio has raised $125 thousand across 1 funding round from investors including Lilly and Y Combinator. Engage Bio offers products and services including Tethosomes. Its focus areas include Life Sciences, Oncology, Drugs and Diversified. Its competitors include Moderna, Strand Therapeutics and ReviR Therapeutics; 3 of its 3 listed competitors have raised funding.
Company details
Engage Bio was founded in 2021 and is headquartered in Santa Clara, United States. The company operates in the biotechnology sector, where mRNA-based drugs are developed as immunotherapies. These therapies are designed to redirect the immune system toward cancer targets. Focus is placed on advancing treatments for various cancers through immune engagement mechanisms. Co-founders include Kathryn Strobel Kwant and Will Olsen.
- Headquarters Santa Clara, United States
- Founders Kathryn Strobel Kwant, Will Olsen
- Stage Acquired
- SectorsHealthcare
- Email••••••••
- Website engagebio.com
- Social LinkedIn
- Acquired by Lilly (May 2026)
Products & Services of Engage Bio
Engage Bio offers a comprehensive portfolio of products and services, including Tethosomes.
Delivers therapeutic DNA with enhanced expression and reduced toxicity.
Funding Insights of Engage Bio
Engage Bio has successfully raised a total of $125K through 1 strategic funding round. The most recent funding activity was a Seed round of $125 thousand completed in March 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $125,000
- Total Rounds 1
- Last Round Seed — $125,000
- First Round $125,000
(Mar 2022)
- Investors Count 1
All 1 funding rounds of Engage Bio with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar 2022 | $125,000 | Seed | – | – |
2 investors in total: 2 institutional.
Investors in Engage Bio
Engage Bio has secured backing from 2 investors, including venture fund and institutional investors. Prominent investors backing the company include Lilly and Y Combinator.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Early-stage startups are accelerated via funding and educational programs. | ycombinator.com | Mountain View, United States | ||
Traditional pharmaceutical medicines are developed for multiple health fields. | 1876 | lilly.com | United States |
Investor details for Engage Bio
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
People of Engage Bio
5 people are tracked at Engage Bio (2 in leadership, 3 in team).
| Name | Role | Group |
|---|---|---|
Kathryn Strobel Kwant | Co-Founder | Leadership |
Will Olsen | Co-Founder | Leadership |
Ben Hawley | Senior Scientist | Team |
Vaasu Patel | Researcher | Team |
Tarek Jakoush | Senior Research Associate | Team |
Complete people profiles for Engage Bio
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Timeline of Engage Bio
3 dated milestones of Engage Bio across 5 years, from founding to its latest funding, stage changes and deals.
- Founded Engage Bio is founded.
- Funding First funding round of $125K.
- Exit Acquired by Lilly.
Competitors of Engage Bio
Engage Bio has 3 listed competitors in our database, 3 of them funded. They include Moderna, Strand Therapeutics and ReviR Therapeutics.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| modernatx.com | 2010 | Cambridge, United States | $2.78B | 1,312 | mRNA-based therapeutics for diseases including cancer and infections are developed. | |
| strandtx.com | 2017 | Cambridge, United States | $103.14M | 47 | mRNA therapeutics platform is provided for multi-functional treatments. | |
| revirtx.com | 2021 | San Francisco, United States | $50M | RNA-based therapeutics for multiple diseases are developed using machine learning. |
Detailed competitors of Engage Bio
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
Verified entity values are shown only after access is granted.
Web traffic of Engage Bio
The website of Engage Bio (engagebio.com) receives about 1.4K visits a month.
- Monthly visits1.4K
▼ 51.2% vs previous month
Top companies in Oncology
3 companies that operate in the same segment as Engage Bio (Oncology) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
mRNA-based therapeutics for diseases including cancer and infections are developed. | 2010 | Cambridge, Massachusetts, United States | USD 2.78 B | USD 1.94 B | 5,800 | |
Digital sequencing technology for cancer detection is developed. | 2012 | Redwood City, California, United States | USD 557.5 M | USD 982.02 M | 4,867 | |
Circulating tumor DNA is screened for early cancer detection. | 2016 | Menlo Park, California, United States | USD 2 B | USD 147.17 M | 1,141 |
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Frequently Asked Questions about Engage Bio
Engage Bio was founded in 2021 and raised its 1st funding round 1 year after it was founded.
Engage Bio is headquartered in Santa Clara, United States. It is registered at Santa Clara, California, United States.
Engage Bio is a funded company, having raised a total of $125K across 1 funding round to date. The company's 1st funding round was a Seed of $125K, raised on Mar 2022.
Engage Bio was founded in 2021 and is headquartered in Santa Clara, United States. The company operates in the biotechnology sector, where mRNA-based drugs are developed as immunotherapies. These therapies are designed to redirect the immune system toward cancer targets. Focus is placed on advancing treatments for various cancers through immune engagement mechanisms. Co-founders include Kathryn Strobel Kwant and Will Olsen.
Engage Bio's top competitors include Moderna, Strand Therapeutics and ReviR Therapeutics.
Engage Bio offers Tethosomes.
Engage Bio has 2 investors. Key investors include Lilly, and Y Combinator.
Yes. Engage Bio was acquired by Lilly in May 2026.