Beren Therapeutics Raises $300M in Combined Equity and Debt Financing

The financing included a $135 million equity investment from Wellington Partners, JIC Venture Growth Investments, Founders Fund, Narya Capital, and Eisai Co., Ltd., along with a $165 million non-dilutive credit and royalty facility provided by Hercules Capital, bringing the total funding to $300 million.

The company plans to use the funding to prepare its lead therapy for commercialization ahead of its expected regulatory milestone, expand its network of diagnostic partners, and develop long-term patient access and family support programs.

I-NPC is the most severe, and rapidly progressing form of Niemann-Pick disease type C (NPC), a rare, and fatal neurological disorder that affects children. The disease is caused by the body's inability to properly transport cholesterol within cells, leading to its harmful buildup.

If approved, adrabetadex could become the first disease modifying treatment for I-NPC and the only therapy designed to target the cholesterol accumulation that drives the disease directly. The US Food and Drug Administration (FDA) has accepted Beren's New Drug Application for adrabetadex and granted it Priority Review, with a decision expected by November 17, 2026.

“I-NPC reshapes family life. Families have consistently told us that their burden extends far beyond the availability of therapies, and that there remains a substantial unmet need for long-term support as families navigate diagnosis, treatment decisions, specialist care, reimbursement, and changing needs over a multi-decade journey with this disease,” said Jason Camm, Founder and Chief Executive Officer at Beren. “Our vision is not only to develop new treatment options, but also to help address the broader challenges families face throughout their journey. We are pleased to be joined by a world-class group of investors who share that vision and our conviction in what may now be possible for this community.”

“Hercules is proud to partner with Beren as they prepare for the potential launch of adrabetadex for children with infantile-onset NPC. Jason and the Beren team have built a company with deep conviction in the science and a clear-eyed plan to ensure this therapy reaches all families who need it. We are pleased to provide the capital to support that work, and Beren’s continued evolution over the coming years,” said Cristy Barnes, Managing Director at Hercules Capital.

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“Infantile-onset NPC is a disease that takes children from their families faster than almost any parent can comprehend. For decades, families in our community have lived with the day-to-day complexity of caring for a child with a progressive neurodegenerative disease – coordinating across specialists, navigating insurance, and managing care that touches every part of family life,” noted Garland Alvey, Executive Director and Founder of ‘AbbyStrong Fights NPC,’ Board Member of the National Niemann-Pick Disease Foundation, and Trustee of the International Niemann-Pick Disease Registry.

About Beren Therapeutics

Founded by Jason Camm, Beren Therapeutics P.B.C. is a biotechnology company focused on developing and commercializing cyclodextrin-based therapies for diseases caused by impaired cholesterol transport in cells. The company is committed to creating treatments that deliver meaningful benefits to patients by incorporating the needs of patients, caregivers, healthcare providers, and health systems throughout the development process, while maintaining a long-term focus on improving access to innovative therapies.

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