HilleVax
HilleVax was a clinical-stage biopharmaceutical company based in Boston that developed novel vaccine candidates. Pre-commercial and funded by equity, it was acquired by XOMA Royalty in 2025 for $1.95 per share plus contingent value rights.
- Company typePublic
- Founded2017
- HeadquartersBoston, United States
- Headcount51–100
- GTM typeB2B
- OfferingHardware or Manufacturing
What HilleVax does
HilleVax, Inc. was a clinical-stage biopharmaceutical company headquartered in Boston, Massachusetts and incorporated in Delaware. The company focused on the development and commercialization of novel vaccines, operating as a pre-commercial entity that funded its clinical pipeline through equity capital rather than product sales. Its business model centered on advancing therapeutic vaccine candidates through clinical development, with proceeds from a 2021 private financing of $135 million led by Frazier Healthcare Partners and a September 2023 public offering of approximately $100 million (8 million shares at $12.50 per share) directed toward clinical programs and working capital.
HilleVax had no approved products and generated no product revenue. Its headcount was reported in the 51–100 range, consistent with a small-cap clinical biotech. The company was led by co-founder and CEO Robert Hershberg, with co-founder David Socks serving as CFO and CBO, and Sean McLoughlin as COO. No customer segments, distribution channels, or commercial partnerships are documented in the available source material, consistent with its pre-commercial status.
In August 2025, HilleVax entered into a definitive merger agreement to be acquired by XOMA Royalty Corporation, a biotech royalty aggregator holding 120+ assets, for $1.95 per share in cash plus contingent value rights tied to future pipeline milestones. The transaction was expected to close in September 2025, making HilleVax a wholly-owned subsidiary of XOMA Royalty.
HilleVax firmographics
Firmographics- Name
- HilleVax
- Legal name
- HilleVax, Inc.
- Website
- https://hillevax.com
- Company type
- Public
- Founded year
- 2017
- Operating status
- Acquired
- Headcount range
- 51–100 employees
- Short description
- HilleVax was a clinical-stage biopharmaceutical company based in Boston that developed novel vaccine candidates. Pre-commercial and funded by equity, it was acquired by XOMA Royalty in 2025 for $1.95 per share plus contingent value rights.
- Ownership category
- akta.pro rank
HilleVax industry classification
Industry- Product category
- Vaccines
- akta.pro primary industry
- Vaccine Technology Platforms (mRNA, viral vector, protein subunit, inactivated/live-attenuated, VLP, DNA) (HLAAAEAD)
Keywords
Where HilleVax is headquartered
LocationHeadquarters
- HQ city
- Boston
- HQ country
- United States
- HQ region
- North America
Markets served
HilleVax business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales
Revenue model
- Clinical Development Funding: HilleVax was a clinical-stage company raising capital to fund clinical development of its therapeutic candidates and general working capital needs. The company was pre-commercial and not yet generating revenue from product sales.
HilleVax product offering
Product offeringCore offering
HilleVax is a clinical-stage biopharmaceutical company developing novel vaccines for unmet medical needs in human health. The company advanced therapeutic vaccine candidates through clinical development and intended to commercialize them upon regulatory approval. HilleVax was pre-commercial and had not yet generated revenue from product sales at the time of its acquisition.
Product overview
HilleVax was a clinical-stage biotech company focused on developing vaccines and biologic therapeutics. The company operated as an independent entity prior to being acquired by XOMA Royalty in 2025. No standalone product, platform, or service offerings are described in the available source material.
Differentiator
Problem solved
Functional benefit
Companies that use HilleVax
Customer profileIdeal customer profiles2 records
HilleVax technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
HilleVax partnerships and signals
Strategic signalScale indicators2 records
Recent moves3 records
Expansion highlights2 records
HilleVax competitors and assessment
Company assessmentDirect peers
- CureVac: Clinical-stage mRNA vaccine and therapeutics developer with multiple infectious disease vaccine candidates. Comparable as a vaccine-focused biotech at similar stage and scale.
- Icosavax: Clinical-stage biotech developing VLP-based vaccines for infectious diseases including RSV and hMPV. Highly comparable to HilleVax in vaccine modality (VLP), clinical stage, and target indications in viral infectious disease.
- Novavax: Clinical-to-commercial vaccine developer using recombinant protein and nanoparticle vaccine technology. Directly comparable as a vaccine-focused biotech targeting infectious diseases with similar platform-based approach.
Broad incumbents
- Moderna: Major mRNA vaccine developer with multiple approved and clinical-stage vaccine programs. Comparable as a vaccine technology platform company, though significantly larger and more commercially advanced than HilleVax.
- BioNTech: Major mRNA-based vaccine and therapeutics company with a broad infectious disease vaccine pipeline. Comparable as a vaccine technology platform, though substantially larger and more diversified than HilleVax.
- GSK: Global vaccine manufacturer with a broad commercial vaccine portfolio including shingles, influenza, and HPV vaccines. Broadly comparable as a major vaccine industry incumbent, though much larger and commercially mature versus HilleVax.
Emerging players
- VBI Vaccines: Clinical-stage vaccine developer using enveloped virus-like particle (eVLP) and other vaccine technologies targeting infectious diseases and immuno-oncology. Comparable as a small-cap vaccine platform peer.
- Codagenix: Clinical-stage vaccine developer using live-attenuated and codon-deoptimization vaccine platforms for infectious diseases including norovirus and RSV. Partially comparable as an early-stage vaccine platform peer.
Market position
Strengths3 records
Weaknesses3 records
Competitive moat2 records
Key risks4 records
Key highlights4 records
Customer concentration
HilleVax social profiles
Digital presenceHilleVax financial estimates
Financial estimateRevenue estimate
Valuation estimate
HilleVax leadership team
Management profileNumber of profiles
Profiles3 records
HilleVax funding detail
Funding detailFunding overview
Funding rounds2 records
Investors14 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
HilleVax M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about HilleVax
What does HilleVax do?
HilleVax is a clinical-stage biopharmaceutical company developing novel vaccines for unmet medical needs in human health. The company advanced therapeutic vaccine candidates through clinical development and intended to commercialize them upon regulatory approval. HilleVax was pre-commercial and had not yet generated revenue from product sales at the time of its acquisition.
Is HilleVax a public or private company?
HilleVax is a public company. It is classified as corporate owned and is currently acquired.
When was HilleVax founded?
HilleVax was founded in 2017. It employs 51 to 100 people.
Where is HilleVax based?
HilleVax is headquartered in Boston, United States, in the North America region.
How does HilleVax make money?
One revenue line is on record: clinical Development Funding.
Who are HilleVax's main competitors?
Direct peers on record are CureVac, Icosavax and Novavax. Broad incumbents are Moderna, BioNTech and GSK. Emerging players are VBI Vaccines and Codagenix.
Does HilleVax have an API?
No public API is recorded for HilleVax.
What industry is HilleVax in?
HilleVax's product category is Vaccines. Its primary akta.pro industry code is HLAAAEAD, Vaccine Technology Platforms (mRNA, viral vector, protein subunit, inactivated/live-attenuated, VLP, DNA).