What this index holds, how it is built, and what its record does not cover. Morningstar Indexes, built with PitchBook.
The Morningstar PitchBook Global BioPharma Unicorn Index tracks the largest privately held, venture capital-backed companies in the BioPharma industry vertical with valuations of at least $1 billion. BioPharma companies exploit cellular and biomolecular processes to develop innovative therapeutics and technologies.
One industry vertical, biopharma, rather than the whole market.
Run by Morningstar Indexes, built with PitchBook. PrePost has no relationship with the provider and is not paid to list this index.
The index began on 2023-10-25. Its performance record starts 2021-03-22, so the years before 2023-10-25 are backfilled rather than live. A long-run return quoted for this index is mostly a backtest.
The provider's own reporting notes that where transactions are infrequent, secondary-market marks can stay unchanged even as new information emerges.
| Field | Value |
|---|---|
| Provider | Morningstar Indexes, built with PitchBook |
| Inception | October 25, 2023 |
| Performance record starts | March 22, 2021 |
| Constituents | 24 |
| Weighting | Market Capitalization |
| Rebalance | Quarterly (next September 21, 2026) |
| Currency | USD |
| How constituents are priced | Not published as a rule. The provider's quarterly reporting on this family sources its secondary-market marks to Caplight, alongside Morningstar and PitchBook data. |
| Published methodology | None that we could find. The index page, the family page and the provider's screener all link no rulebook or factsheet. |
| Variants | Morningstar PitchBook Global BioPharma Unicorn PR USD Morningstar PitchBook Global BioPharma Unicorn GR USD |
| Identifiers | FS0000IE7R (Morningstar fund ID) |
Named constituents as of August 31, 2026.
Membership as the index provider published it on this date. PrePost shows which companies are in the index, not their weights.
| Company | PrePost | Estimate | Confidence |
|---|---|---|---|
| Biosplice Therapeutics | Listed | No PrePost figure yet | |
| Altos Labs | Listed | No PrePost figure yet | |
| AbogenBio | Listed | No PrePost figure yet | |
| Xaira Therapeutics | Listed | No PrePost figure yet | |
| insitro | Listed | No PrePost figure yet | |
| ArsenalBio | Listed | No PrePost figure yet | |
| Pathos | Listed | No PrePost figure yet | |
| Sironax | Listed | No PrePost figure yet | |
| Isomorphic Labs | Listed | No PrePost figure yet | |
| Trialspark | Listed | No PrePost figure yet | |
| NewLimit | Listed | No PrePost figure yet | |
| Valo | Listed | No PrePost figure yet | |
| RefleXion | Listed | No PrePost figure yet | |
| Belief BioMed | Listed | No PrePost figure yet | |
| Shanghai Cell Therapy Group | Listed | No PrePost figure yet | |
| Mammoth Biosciences | Listed | No PrePost figure yet | |
| Pharmaron Ningbo | Listed | No PrePost figure yet | |
| Orca Bio | Listed | No PrePost figure yet | |
| Treeline Biosciences | Listed | No PrePost figure yet | |
| Kallyope | Listed | No PrePost figure yet | |
| Adimab | Listed | No PrePost figure yet | |
| Enveda Biosciences | Listed | No PrePost figure yet | |
| TrueBinding | Listed | No PrePost figure yet | |
| Accutar Biotech | Listed | No PrePost figure yet | |
Verified means a full PrePost profile with sourced figures. Listed means the company is named here because a benchmark we track names it; PrePost has published no figure for it and does not rank it.
None that PrePost tracks. That does not mean none exists: a product can track an index without PrePost having verified it, and PrePost lists a vehicle only once it can source what the vehicle is and what it holds.
An index is not an investment. Tracking one costs money and the product that tracks it may not hold what the index holds. This page describes the index, not any product, and is not investment advice.
Last updated 2026-09-12. See also how we verify and our disclaimer.