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HilleVax

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uuid0000faf

Namestring
HilleVax
Legal namestring
HilleVax, Inc.
Websiteurl
hillevax.com
Company typeenum
Public
Founded yearint
2017
Descriptiontext

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.

Short descriptiontext

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.

Operating statusenum
Acquired
Ownership categoryenum
Headcount rangeband
51–100
akta.pro rankint
HeadquartersBoston, United States
HQ citystring
Boston
HQ countrystring
United States
HQ regionstring
North America
Markets served

Serves global market

Keyword5 values
vaccine development, biopharmaceutical research, clinical stage vaccines, vaccine candidates, biologics development
Industry1 code
1Vaccine Technology Platforms (mRNA, viral vector, protein subunit, inactivated/live-attenuated, VLP, DNA)
CodeHLAAAEADPrimaryYes
Product category
Vaccines
Social media profiles1 record
Revenue model1 record
1Clinical Development Funding
TypeOne Time License
Description

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.

ir.hillevax.com
Cost components4 values
Technology or R&D, Personnel, Operations, Marketing or Sales
GTM typeB2B
B2B
Offering typeHardware or Manufacturing
Hardware or Manufacturing
Core offering1 text field

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.

Differentiator
Functional benefit
Problem solved
Product overview1 text field

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.

Scale indicator2 records

Each record includes

Type, Value, Description, Source

Recent move3 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight2 records

Each record includes

Type, Description

Peers8 records
1CureVac
TypeDirect peer
Description

Clinical-stage mRNA vaccine and therapeutics developer with multiple infectious disease vaccine candidates. Comparable as a vaccine-focused biotech at similar stage and scale.

2Icosavax
TypeDirect peer
Description

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.

3Novavax
TypeDirect peer
Description

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.

4Moderna
TypeBroad incumbent
Description

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.

5VBI Vaccines
TypeEmerging player
Description

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.

6BioNTech
TypeBroad incumbent
Description

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.

7Codagenix
TypeEmerging player
Description

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.

8GSK
TypeBroad incumbent
Description

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.

Market position
Strengths3 records

Each record includes

Headline, Details, Source

Weaknesses3 records

Each record includes

Headline, Details, Source

Competitive moat2 records

Each record includes

Type, Details

Key risks4 records

Each record includes

Headline, Details, Source

Key highlights4 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Ideal customer profile2 records

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
Yes
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Core technology
Revenue estimate
Valuation estimate
Number of profiles
Profiles3 records

Each record includes

Name, Designation, Designation category, Overview, Profile commentary, Source

No data
No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds2 records

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors14 records

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

HilleVax

Vaccineshillevax.com

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.

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

  • Vaccine development
  • Biopharmaceutical research
  • Clinical stage vaccines
  • Vaccine candidates
  • Biologics development

Where HilleVax is headquartered

Location

Headquarters

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

  1. 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 offering

Core 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 profile

Ideal customer profiles2 records

HilleVax technology and API

Technology

Technology focussed Yes

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

HilleVax partnerships and signals

Strategic signal

Scale indicators2 records

Recent moves3 records

Expansion highlights2 records

HilleVax competitors and assessment

Company assessment

Direct 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 presence

HilleVax financial estimates

Financial estimate

Revenue estimate

Valuation estimate

HilleVax leadership team

Management profile

Number of profiles

Profiles3 records

HilleVax funding detail

Funding detail

Funding 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 investment

M&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).

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Live signals
GlobeNewswireXOMA Royalty Announces Closing of Tender Offer for HilleVax, Inc.XOMA Royalty completed its tender offer to acquire all outstanding HilleVax shares at $1.95 per share in cash plus a contingent value right. Approximately 39.2 million shares, representing 77.48% of outstanding shares, were validly tendered, meeting the minimum tender condition. HilleVax will cease Nasdaq trading and become a wholly owned subsidiary.PR NewswireSHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates ARIS, HLVX, AMWD on Behalf of ShareholdersLaw firm Halper Sadeh LLC announced shareholder investigations into three companies—Aris Water Solutions, HilleVax, and American Woodmark—regarding potential violations of federal securities laws and breaches of fiduciary duties in connection with proposed acquisitions. The investigations concern Aris Water's sale of Western Midstream Partners, HilleVax's sale to XOMA Royalty Corporation for $1.95 per share plus contingent value rights, and American Woodmark's sale to MasterBrand, Inc. The firm may seek increased shareholder consideration, additional disclosures, or other relief on behalf of shareholders.PR Newswire$HAREHOLDER ALERT: The M&A Class Action Firm Announces An Investigation of HilleVax, Inc. (NASDAQ: HLVX)Monteverde & Associates PC, a class action securities law firm, announced an investigation into the proposed acquisition of HilleVax, Inc. by XOMA Royalty Corporation. Under the deal terms, HilleVax stockholders would receive $1.95 in cash per share plus one non-transferable contingent value right tied to post-closing financial conditions. The law firm is seeking to determine whether the transaction is fair to HilleVax shareholders and is offering free consultations to affected stockholders.PR NewswireALERT: Rowley Law PLLC is Investigating Proposed Acquisition of HilleVax, Inc.Rowley Law PLLC announced it is investigating potential securities law violations by HilleVax, Inc. and its board of directors regarding the proposed acquisition by XOMA Royalty Corporation. Under the deal terms, HilleVax stockholders will receive $1.95 in cash plus one contingent value right per share, with the transaction expected to close in September 2025.PR NewswireShareholder Alert: The Ademi Firm investigates whether HilleVax, Inc. is obtaining a Fair Price for its Public ShareholdersThe Ademi Firm announced an investigation into HilleVax, Inc. regarding its transaction with XOMA Royalty Corporation, alleging possible breaches of fiduciary duty and other violations of law by the company's board of directors. Under the deal terms, HilleVax shareholders will receive $1.95 per share in cash plus contingent value rights tied to the company's remaining cash, lease savings, and potential norovirus vaccine program sale proceeds. The law firm claims the transaction agreement unreasonably limits competing bids by imposing significant penalties on HilleVax if it accepts an alternate offer, and is investigating whether the board is fulfilling its fiduciary duties to all shareholders.GlobeNewswireHilleVax Enters into a Definitive Agreement to be Acquired by XOMA Royalty for $1.95 in Cash per Share Plus a Contingent Value RightXOMA Royalty agreed to acquire HilleVax for $1.95 in cash per share plus a contingent value right. The tender offer begins August 18, 2025, with closing expected in September 2025. The CVR may pay from excess cash, lease savings, or vaccine program proceeds.PR NewswireSHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of HilleVax, Inc. - HLVXPomerantz LLP announced an investigation into potential securities fraud by HilleVax, Inc. following the company's July 8, 2024 disclosure that its Phase 2b clinical trial NEST-IN1 for HIL-214 vaccine candidate failed to meet its primary endpoint in infants, with no clinical benefit observed across secondary endpoints. The announcement caused HilleVax's stock to collapse 88.3%, falling $12.42 per share to close at $1.64. The investigation concerns whether HilleVax and certain of its officers and/or directors engaged in securities fraud or other unlawful business practices.BenzingaStocks Hold Steady, Small Caps Rise, French Equities Slip After Surprise Win By Left-Wing Bloc: What's DrU.S. stock markets opened the week with minimal movement, as the S&P 500 and Nasdaq 100 held near flatline after reaching record highs last Friday, while small-cap stocks outperformed with the Russell 2000 gaining 0.8%. French legislative elections delivered a surprise left-wing victory without securing an absolute majority, triggering a 1% decline in French equities as investors concerns grew over potential tax hikes and fiscal pressures. Notable individual movers included Morphic Holding surging 75% on news of a $3.2 billion Eli Lilly acquisition offer and HilleVax plummeting over 80% after abandoning its infant vaccine candidate.BenzingaWhy Is HilleVax Stock Trading Lower On Monday? - (HLVX)HilleVax Inc released topline data from the NEST-IN1 Phase 2b trial of its investigational HIL-214 norovirus vaccine in infants, which showed only 5% vaccine efficacy against moderate-to-severe acute gastroenteritis, failing to meet the primary endpoint. The company announced it will discontinue further development of HIL-214 in infants and is exploring continued development of HIL-214 and HIL-216 in adults. HLVX shares dropped 86.3% to $1.93 on Monday following the announcement.BenzingaWhy HilleVax Shares Are Trading Lower - (HLVX)HilleVax Inc announced the pricing of its previously-announced public offering of 8 million shares of common stock at $12.50 per share, expecting to raise approximately $100 million in gross proceeds before offering expenses. The company's shares are trading lower by 8.5% to $13.20 following the announcement, likely due to dilution concerns from the secondary offering. The proceeds will fund clinical development of HIL-214, including certain manufacturing activities, as well as working capital and general corporate purposes.