-- $135 million equity financing with participation from leading specialist investors, corporate investors, and long-term growth partners, including Wellington Partners, JIC Venture Growth Investments (JIC VGI), Founders Fund, Narya Capital, Eisai Co., Ltd., and other select institutional investors

-- Up to $165 million in flexible, non-dilutive capital, including $110 million senior-secured debt facility and $55 million of royalty financing with Hercules Capital, Inc.

-- Financing will support investments in commercial readiness activities for adrabetadex ahead of its November 17, 2026, Prescription Drug User Fee Act (PDUFA) target action date. This will include the development of a long-term patient access and family support program designed to reduce the burden for those living with infantile-onset Niemann-Pick disease, type C (I-NPC) throughout their treatment journey.

-- This transaction positions Beren to become financially self-sustaining through the potential commercialization of adrabetadex, while providing the flexibility to invest in long-term growth initiatives

Beren Therapeutics P.B.C., the parent company of Mandos LLC and a leader in cholesterol trafficking biology and cyclodextrin-based therapeutics, today announced it has secured $300 million in combined financing.

The financing includes a $135 million equity financing alongside up to $165 million in a strategic financing facility with Hercules Capital, Inc. (NYSE:HTGC) across a senior secured debt and royalty structure. Capital will support Beren's growth strategies, including the potential U.S. commercial launch for adrabetadex to treat I-NPC and investments in patient access infrastructure and family support resources.