Companies · Pharmaceuticals

Belhaven Biopharma Inc.New on the radar

Chapel Hill · Pharmaceuticals

Diligence memoA one-page analyst read on Belhaven Biopharma Inc. — recommendation, valuation, rhythm, risks.
$32.3M
Total raised · real
1
Rounds
Latest step-up
Top 26%
Sector rank · raised
Series B
Latest stage · inferred · Mon Aug 04 2025 00:00:00 GMT+0000 (Coordinated Universal Time)

Belhaven Biopharma Inc. looks fair 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.

Fair
  • Modeled value is 1.32× the median modeled value of Series B Pharmaceuticals companies in 2025–2027 (17 peers) — value vs value, same stage and era.
  • Within the normal band (132% of peer median) for its niche.
Active
  • Last raise 11 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

Belhaven Biopharma Inc. is one of 1613 Pharmaceuticals companies tracked from Chapel Hill. By capital raised it ranks in the upper tier (ahead of 75% of sector peers), and mid-pack by modeled valuation est..

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

pharma

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
222
Investors (latest)
2020
Year incorporated
2025-08-04
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$50M$100M$150M$200MSeries B · 2025-08-04 Raised $32M (real) Modeled valuation $147M (est)$32M$147MSeries B2025

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
Series B$32.3M · 2025

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series A — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 25%.

Modeled valuation trajectory
$146.8M
Base estimate est.
$67.8M
Conservative case
$213.2M
Upside case
$179.4M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Ba $15M–$40M round). Valuation is modeled from stage benchmarks scaled by the pharma sector profile. Directional, not a quoted figure.

Not enough modeled valuation points to chart a trajectory.

Model inputs · modeled:benchmark-stage-stepup-v1
18%
Dilution assumption
Implied ownership sold in the financing.
57%
Survival probability
38% low · 70% high
1.49×/yr
Annual markup
1.80×/yr upside case
0.9 yr
Elapsed time used
0.9 yr actual, capped for stale marks
pharma
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
Avg between rounds
Capital velocity
0.9 yr
On record since
2025
First round
New
First-time filer
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) 4.0× above median
This company$32.3M
Sector median$8.1M
Latest round — vs other Series B rounds in sector (real $, this stage) 1.8× above median
This company$32.3M
Sector median$18.0M
Modeled value — vs sector median (estimate, all stages) 1.9× above median
This company$146.8M
Sector median$76.1M

Raised more than 75% of sector peers (real $). Modeled value above 62% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series B) 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 #5 of 17.

This companyCohort peer
$10.0M$100.0M$1.0B$10.0M$100.0M$1.0BCapital raised (log)Phlow Corp. · Series B Raised $82.8M · modeled $169.5M (est)AlphaTON Capital Corp · Series B Raised $70.7M · modeled $158.9M (est)Triton Therapeutics, Inc. · Series B Raised $36.4M · modeled $152.5M (est)Sensorium Therapeutics, Inc. · Series B Raised $60.5M · modeled $149.1M (est)AN2 Therapeutics, Inc. · Series B Raised $40.0M · modeled $143.6M (est)Renthera Corp · Series B Raised $25.0M · modeled $137.2M (est)VST BIO Corp · Series B Raised $28.9M · modeled $118.7M (est)Immuneering Corp · Series B Raised $82.2M · modeled $111.0M (est)Axial Biotherapeutics, Inc. · Series B Raised $109.8M · modeled $108.0M (est)Nocion Therapeutics, Inc. · Series B Raised $76.1M · modeled $90.5M (est)Paulex Bio Inc. · Series B Raised $18.5M · modeled $74.8M (est)Belhaven Biopharma Inc. (this company) Raised $32.3M · modeled $146.8M (est)Belhaven Biopharma Inc.
CompanyStageRaised · realValue · estvs peer med.
Phlow Corp.Series B$82.8M$169.5M1.53×
AlphaTON Capital CorpSeries B$70.7M$158.9M1.43×
Triton Therapeutics, Inc.Series B$36.4M$152.5M1.37×
Sensorium Therapeutics, Inc.Series B$60.5M$149.1M1.34×
Belhaven Biopharma Inc. this companySeries B$32.3M$146.8M1.32×
AN2 Therapeutics, Inc.Series B$40.0M$143.6M1.29×
Renthera CorpSeries B$25.0M$137.2M1.24×
VST BIO CorpSeries B$28.9M$118.7M1.07×
Immuneering CorpSeries B$82.2M$111.0M1.00×
Axial Biotherapeutics, Inc.Series B$109.8M$108.0M0.97×
Nocion Therapeutics, Inc.Series B$76.1M$90.5M0.82×
Paulex Bio Inc.Series B$18.5M$74.8M0.67×
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.
Series B$32.3M2025-08-04$179.4M$146.8M90%
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. Series B$32.3M2025-08-04
    • First recorded raise — entered as Series B.
    • 222 investors on this round.
Intelligence
Modeled next raise
$51.7M
Modeled next size est.range $33.6M$82.7M
Last step-up
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
David Algon Neal2025-08
Derek Algon Winstanly2025-08
Scott David Lyman2025-08
Wes Algon Wheeler2025-08
Registry & provenance

Belhaven Biopharma 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
1873965
SEC CIK
2020
Incorporated
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
Promentis Pharmaceuticals, Inc.PharmaceuticalsSeries B$32.1M$85.0Msame sector · same stage
Silvergate Pharmaceuticals, Inc.PharmaceuticalsSeries B$30.8M$156.4Msame sector · same stage
Spectrum Pharmaceuticals IncPharmaceuticalsSeries B$30.5M$102.0Msame sector · same stage
OC Pharma LLCPharmaceuticalsSeries B$30.0M$95.2Msame sector · same stage
Plethora Solutions Holdings plcPharmaceuticalsSeries B$30.0M$95.2Msame sector · same stage
Evergreen Theragnostics Inc.PharmaceuticalsSeries B$34.9M$199.3Msame sector · same stage
Potenza Therapeutics, Inc.PharmaceuticalsSeries B$35.0M$170.0Msame sector · same stage
Verismo Therapeutics, Inc.PharmaceuticalsSeries B$35.2M$197.9Msame sector · same stage
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
Biohaven Pharmaceutical Holding Co Ltd.PharmaceuticalsSeries C$1.4B91%
Boston Biopharma, Inc.PharmaceuticalsSeed$57.6M81%
BioQ Pharma IncPharmaceuticalsSeries B$157.7M80%
Arbutus Biopharma CorpPharmaceuticalsSeries A$464.6M80%
PharmAbbie, Inc.PharmaceuticalsSeries A$282.0M79%
Cutispharma Holdings, Inc.PharmaceuticalsSeries C$2.5B78%
Vor Biopharma Inc.PharmaSeries D+$3.9B78%
Spine BioPharma, Inc.PharmaceuticalsSeries A$63.9M78%
Frequently asked
How much funding has Belhaven Biopharma Inc. raised?
Belhaven Biopharma Inc. has raised approximately $32.3M in disclosed capital across 1 recorded financing round, aggregated from public filings.
What is Belhaven Biopharma Inc.'s estimated valuation?
Provath's modeled valuation for Belhaven Biopharma Inc. is approximately $146.8M (modeled range $67.8M–$213.2M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Belhaven Biopharma Inc. at?
Belhaven Biopharma Inc.'s latest modeled financing stage is Series B. Its most recent recorded round closed around Mon Aug 04.
What does Belhaven Biopharma Inc. do and where is it based?
Belhaven Biopharma Inc. operates in the Pharmaceuticals sector, based in Chapel Hill.
Explore related

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