Diligence memo · auto-generated · as of July 2, 2026
Hepanova, Inc.
Hepanova, Inc. looks fair against its niche peers and is dormant on financing cadence.
Businessfiled
Hepanova, Inc. operates in Pharmaceuticals, based in GAITHERSBURG.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Hepanova, Inc. has raised $1.4M in disclosed capital across 2 recorded rounds, aggregated from public filings. Its latest round is modeled as Pre-Seed (a round under $1.0M).
Largest single filing: $1.0M on 2019-10-05.
Most recent recorded round closed around 2021-01-01.
Valuation (modeled)modeled
Provath models Hepanova, Inc. at approximately $16M (range $252K–$154M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Fair. Modeled value is 1.19× the median modeled value of Pre-Seed Pharmaceuticals companies in 2019–2021 (46 peers) — value vs value, same stage and era. Within the normal band (119% of peer median) for its niche.
Financing rhythm & timingmixed
Historic cadence: a new round about every 15 months.
Last raise 5.5 yr ago; this sector typically re-raises about every 13 months.
Silent for over 3× the sector's normal cadence.
The last round was 2.2× smaller than the prior — a bridge or down round.
Comparablesmixed
Capital scale ranks ahead of 23% of Pharmaceuticals peers (1613 compared).
Modeled value ranks above 24% of those peers.
Closest niche peers: Elion Oncology, Inc., Cyclone Therapeutics, Inc., Sonnet Biotherapeutics, Inc., Fastball Capital Group, Llc, TamRx, LLC.
Peoplefiled
7 named people on file across officers, directors and signatories.
Risks & flagsmixed
Financing has been silent well beyond sector cadence — possibly defunct, acquired, or paused.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.