-59%

est. 2Y upside i

HealthcareSeries D+

Lygos engineers yeast to convert sugar into high-value industrial…

Rank

#3352

Sector

Biotechnology, Specialty Chemicals

Est. Liquidity

~3Y

Data Quality

Data: Medium

Lygos presents a moderate upside opportunity with higher risk.

Last updated: March 10, 2026

Bull (25%)+100%

Lygos successfully scales its partnerships with CJ BIO and BioMADE, leading to significant commercial adoption of its bio-based chemicals and polymers in home care and personal care. Revenue reaches $60-70M by 2028, justifying a $340M valuation (2x current estimate) through an acquisition by a larger chemical or consumer goods company.

Base (35%)+25%

Lygos achieves steady growth in its core markets, leveraging its proprietary technology to secure additional partnerships and expand existing customer relationships. Revenue grows to $20-25M by 2028, maintaining a similar valuation multiple and resulting in a $212.5M valuation, a modest increase from the current estimate.

Bear (40%)-40%

Increased competition from incumbents and well-funded startups, coupled with high capital intensity and slower-than-expected market adoption, leads to revenue stagnation or slow growth to $18-20M. The valuation multiple compresses, resulting in a down round or a lower acquisition price of $102M, significantly eroding common stock value given the preference stack.

Est. time to liquidity~2.5 years

Preference Stack Risk

severe

Investors hold approximately $51.8M in liquidation preferences. In an exit at or below the estimated $170M valuation, common stock holders would see significantly reduced returns, potentially nothing if the exit is below $51.8M.

Dilution Risk

moderate

Despite being a later-stage company, high capital intensity suggests further funding rounds may be required, leading to additional dilution for existing equity holders.

Secondary Liquidity

none

There is no indication of active secondary markets or tender offers for Lygos's equity.

Other — 1 role

View all 1 open roles at Lygos →

Last updated: March 10, 2026

Questions to Ask at the Interview

Strategic questions based on Lygos's data — designed to show you've done your homework.

  • 1

    “How does Lygos plan to differentiate its remaining Soltellus offerings in home and personal care, given the divestiture of the agronomy and water treatment segments to Dober?”

  • 2

    “With a high capital intensity business model, what is the company's strategy for achieving profitability and reducing its burn rate over the next 2-3 years, especially considering the current revenue scale of ~$17M?”

  • 3

    “Given the significant amount of capital raised ($51.8M) and the estimated current valuation, how does Lygos envision a liquidity event for employees, and what are the key milestones to achieve a favorable outcome for common stock holders?”

Community

Valuation Sentiment

Our model estimates -59% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.