Belhaven Biopharma, a clinical-stage biopharmaceutical company, announced the successful completion of an oversubscribed Series A financing round on August 19, 2025. The round, which exceeded its initial $10 million target, was completed in just six weeks and drew strong interest from both new and existing investors, marking the company's fifth successful capital raise since its founding.
The proceeds will enable Belhaven to complete the clinical development and commercial manufacturing of Nasdepi®, its lead therapeutic candidate, and prepare for a New Drug Application (NDA) submission to the U.S. Food and Drug Administration (FDA). Nasdepi® is positioned to become the first dry powder, needle-free, and heat-stable epinephrine therapy designed for the emergency treatment of anaphylaxis to reach the market.
Revolutionary Approach to Anaphylaxis Treatment
Nasdepi® is engineered to address the key limitations of current autoinjector-based epinephrine delivery systems. These limitations include needle phobia, temperature sensitivity, and complex device instructions that can complicate emergency treatment scenarios. The innovative dry powder intranasal technology offers rapid, reliable absorption regardless of patient orientation and functions effectively even when patients are experiencing nasal congestion during an anaphylactic reaction.
"Completing this round so quickly highlights growing investor confidence in Nasdepi® and our vision to reshape emergency medicine for severe allergy patients," said Scott Lyman, CEO of Belhaven Biopharma. "With our latest successful round, we are well-positioned to reach the regulatory finish line while actively engaging with potential commercial partners for launch."
Strategic Positioning for Market Entry
The accelerated completion of the Series A round positions Belhaven Biopharma for both regulatory submission and commercial launch partnerships. The company is actively engaging with potential commercial partners as it prepares for the market introduction of what could be a transformative therapy for anaphylaxis treatment.
Belhaven Biopharma specializes in developing life-saving medications delivered through simple, dry powder, single-use nasal devices. The company is at the forefront of developing nasal dry powder epinephrine technology, which aims to revolutionize emergency-use epinephrine delivery and expand global access to this critical treatment.
The successful funding round demonstrates significant investor confidence in the company's innovative approach to addressing unmet medical needs in emergency allergy treatment, particularly for patients who may struggle with traditional autoinjector devices due to needle phobia or other limitations.
