Companies · Pharmaceuticals

Aeovian Pharmaceuticals, Inc.

Berkeley · Pharmaceuticals

Diligence memoA one-page analyst read on Aeovian Pharmaceuticals, Inc. — recommendation, valuation, rhythm, risks.
$125.0M
Total raised · real
4
Rounds
1.1×
Latest step-up
Top 8%
Sector rank · raised
Series C
Latest stage · inferred · Tue Nov 18 2025 00:00:00 GMT+0000 (Coordinated Universal Time)

Aeovian Pharmaceuticals, Inc. looks over-valued against its niche peers and is active on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the pharma sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Over-valued
  • Modeled value is 1.99× the median modeled value of Series C Pharmaceuticals companies in 2025–2027 (26 peers) — value vs value, same stage and era.
Active
  • Last raise 7 mo ago; this sector typically re-raises about every 13 months.
  • Raising on or ahead of the sector's normal rhythm.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Pharmaceuticals

Aeovian Pharmaceuticals, Inc. is one of 1613 Pharmaceuticals companies tracked from Berkeley. By capital raised it ranks among the largest (ahead of 93% of sector peers), and in the upper tier by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
13
Investors (latest)
2025-11-18
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$250M$500M$750M$1.0BPre-Seed · 2017-06-14 Raised $786K (real) Modeled valuation $37M (est)$786K$37MPre-Seed2017Series B · 2019-09-24 Raised $19M (real) Modeled valuation $639M (est)$19M$639MSeries B2019Series C · 2023-12-22 Raised $50M (real) Modeled valuation $530M (est)$50M$530MSeries C2023Series C · 2025-11-18 Raised $55M (real) Modeled valuation $298M (est)$55M$298MSeries C2025+$19M+$50M+$55MCumulative $125M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Pre-Seed$786K · 2017
Series B$18.8M · 2019no Seed / Series A on file
Series C$50.4M · 2023
Series C extension$55.0M · 2025

Stages are modeled from round size (public records carry no series label). No record for: Seed, Series A — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 60%.

Modeled valuation trajectory
$297.8M
Base estimate est.
$178.6M
Conservative case
$374.2M
Upside case
$366.7M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Ca $40M–$100M round). Valuation is modeled from stage benchmarks scaled by the pharma sector profile. Directional, not a quoted figure.

Pre-Seed · modeled $37.2M · 2017-06-142017Series B · modeled $639.3M · 2019-09-24Series C · modeled $529.6M · 2023-12-22Series C · modeled $297.8M · 2025-11-182025
Model inputs · modeled:benchmark-stage-stepup-v1
15%
Dilution assumption
Implied ownership sold in the financing.
66%
Survival probability
49% low · 76% high
1.42×/yr
Annual markup
1.62×/yr upside case
0.6 yr
Elapsed time used
0.6 yr actual, capped for stale marks
pharma
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
34 mo
Avg between rounds
$14.8M/yr
Capital velocity
9.1 yr
On record since
2017
First round
4
Rounds on file
How it compares to the market

Benchmarked against 1613 companies in Pharmaceuticals. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 15× above median
This company$125.0M
Sector median$8.1M
Latest round — vs other Series C rounds in sector (real $, this stage) 1.2× above median
This company$55.0M
Sector median$46.4M
Modeled value — vs sector median (estimate, all stages) 3.9× above median
This company$297.8M
Sector median$76.1M

Raised more than 93% of sector peers (real $). Modeled value above 74% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series C) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #9 of 26.

This companyCohort peer
$100.0M$1.0B$10.0M$100.0M$1.0BCapital raised (log)BlossomHill Therapeutics, Inc. · Series C Raised $245.8M · modeled $452.7M (est)Rivus Pharmaceuticals, Inc. · Series C Raised $223.5M · modeled $416.3M (est)Sparrow Pharmaceuticals, Inc. · Series C Raised $73.3M · modeled $386.6M (est)Arthrosi Therapeutics, Inc. · Series C Raised $132.9M · modeled $385.6M (est)Altesa BioSciences, Inc. · Series C Raised $110.0M · modeled $373.9M (est)Mirum Pharmaceuticals, Inc. · Series C Raised $138.5M · modeled $348.3M (est)Eyenovia, Inc. · Series C Raised $66.0M · modeled $312.6M (est)Alveus Therapeutics, Inc. · Series C Raised $56.9M · modeled $298.1M (est)Curevo, Inc. · Series C Raised $110.0M · modeled $293.2M (est)Neuropathix, Inc. · Series C Raised $51.3M · modeled $271.0M (est)Verrica Pharmaceuticals Inc. · Series C Raised $77.5M · modeled $269.0M (est)Aeovian Pharmaceuticals, Inc. (this company) Raised $125.0M · modeled $297.8M (est)Aeovian Pharmaceuticals, Inc.
CompanyStageRaised · realValue · estvs peer med.
BlossomHill Therapeutics, Inc.Series C$245.8M$452.7M3.02×
Rivus Pharmaceuticals, Inc.Series C$223.5M$416.3M2.78×
Sparrow Pharmaceuticals, Inc.Series C$73.3M$386.6M2.58×
Arthrosi Therapeutics, Inc.Series C$132.9M$385.6M2.57×
Altesa BioSciences, Inc.Series C$110.0M$373.9M2.49×
Mirum Pharmaceuticals, Inc.Series C$138.5M$348.3M2.32×
Eyenovia, Inc.Series C$66.0M$312.6M2.08×
Alveus Therapeutics, Inc.Series C$56.9M$298.1M1.99×
Aeovian Pharmaceuticals, Inc. this companySeries C$125.0M$297.8M1.99×
Curevo, Inc.Series C$110.0M$293.2M1.96×
Neuropathix, Inc.Series C$51.3M$271.0M1.81×
Verrica Pharmaceuticals Inc.Series C$77.5M$269.0M1.79×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Pre-Seed$786K2017-06-14$4.4M$37.2M90%
Series B$18.8M2019-09-24$104.4M$639.3M90%
Series C$50.4M2023-12-22$336.1M$529.6M90%
Series C$55.0M2025-11-18$366.7M$297.8M90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Pre-Seed$786K2017-06-14
    • First recorded raise — entered as Pre-Seed.
    • 4 investors on this round.
  2. Series B$18.8M2019-09-24
    • Raised again after 27 mo — slower than the ~13 mo sector norm.
    • Round 23.9× larger than the prior — scaling up.
    • 5 investors on this round.
  3. Series C$50.4M2023-12-22
    • Raised again after 51 mo — slower than the ~13 mo sector norm.
    • Round 2.7× larger than the prior — scaling up.
    • 5 investors on this round.
  4. Series C$55.0M2025-11-18
    • Raised again after 23 mo — slower than the ~13 mo sector norm.
    • Round roughly the size of the prior one.
    • 13 investors on this round.
Intelligence
2028 ~Q3
Modeled next raise · ~34mo cadence
$60.0M
Modeled next size est.range $55.0M$96.0M
1.1×
Last step-up
$14.8M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
Michael Powell13 other2019-09
Jens Eckstein7 other2019-09
Richard Gaster6 other2019-09
Ben Zadik5 other2017-06
David Lowe4 other2017-06
James Peyer2 other2017-06
Ian Massey1 other2017-06
Matthew J. Plunkett1 other2023-12
Allison J. Hulme2023-12
Davis C. Ryman2023-12
Davis J. Ryman2025-11
John F. Kincaid2023-12
John J. Kincaid2025-11
Justin J. Gover2025-11
Lars C. Ekm2023-12
Lars J. Ekman2025-11
Micah J. Zajic2025-11
Nils C. Regge2023-12
Nils J. Regge2025-11
Richard C. Gaster2023-12
Richard J. Gaster2025-11
Stelios Tzannis2017-06
Themasap J. Khan2025-11
William C. Greene2023-12
Registry & provenance

Aeovian Pharmaceuticals, Inc. is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1710088
SEC CIK
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
Alios Biopharma IncPharmaceuticalsSeries C$82.3M$1.4Bnetwork1 shared operator · same sector · same stage
Biotie Therapies Corp.PharmaceuticalsSeries D+$149.8M$214.0Mnetwork1 shared operator · same sector
Aro Biotherapeutics CoPharmaceuticalsSeries C$122.9M$360.3Msame sector · same stage
Tocagen IncPharmaceuticalsSeries C$119.5M$301.3Msame sector · same stage
QurAlis CorpPharmaceuticalsSeries C$118.2M$117.6Msame sector · same stage
Arthrosi Therapeutics, Inc.PharmaceuticalsSeries C$132.9M$385.6Msame sector · same stage
Mirum Pharmaceuticals, Inc.PharmaceuticalsSeries C$138.5M$348.3Msame sector · same stage
iPierian, Inc.PharmaceuticalsSeries B$87.3M$985.1Mnetwork1 shared operator · same sector
Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
Innovus Pharmaceuticals, Inc.PharmaceuticalsSeries A$98.2M86%
Etheros Pharmaceuticals Corp.PharmaceuticalsPre-Seed$1.9M82%
Alitair Pharmaceuticals, Inc.PharmaceuticalsSeries A$3.6M82%
Eleos Pharmaceuticals, Inc.PharmaceuticalsPre-Seed$12.1M81%
Avitide, Inc.PharmaceuticalsSeries A$309.7M81%
Evogene Ltd.PharmaceuticalsSeries A$8.5M81%
Avicanna Inc.PharmaceuticalsSeries A$24.3M81%
Amylyx Pharmaceuticals, Inc.PharmaceuticalsSeries B$1.0B81%
Frequently asked
How much funding has Aeovian Pharmaceuticals, Inc. raised?
Aeovian Pharmaceuticals, Inc. has raised approximately $125.0M in disclosed capital across 4 recorded financing rounds, aggregated from public filings.
What is Aeovian Pharmaceuticals, Inc.'s estimated valuation?
Provath's modeled valuation for Aeovian Pharmaceuticals, Inc. is approximately $297.8M (modeled range $178.6M–$374.2M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Aeovian Pharmaceuticals, Inc. at?
Aeovian Pharmaceuticals, Inc.'s latest modeled financing stage is Series C. Its most recent recorded round closed around Tue Nov 18.
What does Aeovian Pharmaceuticals, Inc. do and where is it based?
Aeovian Pharmaceuticals, Inc. operates in the Pharmaceuticals sector, based in Berkeley.
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