Early Stage

Developing a novel, safe drug to prevent heart attacks, strokes, and liver transplants from NASH

Developing a novel, safe drug to prevent heart attacks, strokes, and liver transplants from NASH


Raised to Date: Raised: $650

Total Commitments ($USD)



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RegCF    Open SEC Filing

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Year Founded



Healthcare & Pharmaceuticals

Tech Sector


Distribution Model




Capital Intensity



Brooklyn, New York

Business Type


Corvidane, with a valuation of $21 million, is raising funds on Wefunder. The company is developing a novel drug to prevent heart attacks, strokes, and liver transplants from NASH. Corvidane’s drug Corvida is an innovative approach to treating heart and liver diseases and is built on strong preclinical science. It is safe, contains Omega-7 and Omega-9, and works by improving lipid metabolism. Paresh Soni and Damion Boyer founded Corvidane in July 2014. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $618,000. The campaign proceeds will be used for operations, toxicology study, market research, manufacturing, and legal expenses.

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Financials as of: 08/14/2023
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Corvidane 04/29/2024 Wefunder $21,000,000 $650 SAFE Active RegCF
Corvidane 04/30/2022 Wefunder $20,000,000 $371,284 SAFE Funded RegCF
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Analyst Report



Heart disease and stroke are the leading causes of death worldwide, with heart disease alone accounting for nearly one in four deaths in the United States. Non-alcoholic fatty liver disease (NAFLD) and its more severe form, non-alcoholic steatohepatitis (NASH), are also growing health concerns. NAFLD affects about 25% of people globally, and NASH is now the US's leading cause of liver transplants. Both conditions are linked to obesity and type 2 diabetes, which are rising.

Corvidane is developing a new drug, Corvida™, to address these significant health issues. Corvida™ is a novel approach to treating heart and liver diseases, and it's based on preclinical solid science. The drug contains Omega-7 and Omega-9 fatty acids, known to improve lipid metabolism and have anti-inflammatory properties. These characteristics make Corvida™ a promising candidate for treating diseases linked to lipid metabolism and inflammation, such as atherosclerosis (the buildup of fats, cholesterol, and other substances in and on artery walls) and NAFLD/NASH.

Next Section: Price


Corvidane is raising funds on Wefunder at a valuation of $21 million. This valuation is not overly ambitious as early-stage pharma companies tend to have higher valuations due to the high capital expenditures required to get the company off the ground. 

The company is still in the preclinical phase and has not generated any revenue. Additionally, no notable partnerships or investors are mentioned, which could impact the company's growth potential and market penetration.

Investors should carefully consider the risks of investing in an early-stage pharmaceutical company. Developing new drugs is a complex and lengthy process, requiring significant investments in research, clinical trials, and regulatory approvals. There is no guarantee of success, and the road to commercialization can be challenging.

Overall, while Corvidane's mission and product offering show promise, investors should carefully assess the valuation and associated risks before making an investment decision.

Next Section: Market


Corvidane operates in the medical sector, explicitly targeting diseases associated with lipid metabolism and inflammation, such as Atherosclerosis and Non-Alcoholic Fatty Liver Disease (NAFLD)/Non-Alcoholic Steatohepatitis (NASH). According to a report from BioSpace, the Atherosclerosis Drugs Market is set to expand at a rate of 2.5% from 2019 to 2027, with the market size anticipated to reach $14.05 billion. Since atherosclerosis is a crucial risk factor for heart disease and stroke, two leading causes of death worldwide, the demand for effective treatments is expected to remain high.

The prevalence of NAFLD/NASH is also on the rise due to increasing rates of obesity and type 2 diabetes, further amplifying the potential market for Corvida™. NASH has become the leading cause of liver transplants in the United States. A drug that effectively prevents liver transplants from NASH would have a significant market demand.

While the company is in the early stages of development, and the path to market for pharmaceuticals is notoriously long and complex, the potential market size and current healthcare landscape suggest a substantial market opportunity for Corvidane.

Next Section: Team


Damion Boyer and John Burke co-founded Corvidane. Boyer, the COO of the company, has a significant amount of industry experience, with 16 years in the healthcare and pharmaceutical sector. He has demonstrated strong managerial skills and has been dedicated to the success of Corvidane since its founding in 2014. The other co-founder is John Burke, with 46 years of Chemical Engineering experience. However, he only serves as an advisor to Corvidane. 

The Corvidane team is relatively small, with a total of five members. However, the team has complementary skill sets, ranging from chemistry, pharmaceutical to operations and management. 

Overall, the Corvidane team, led by experienced co-founder Damion Boyer, is dedicated to developing innovative solutions for heart and liver diseases. With Boyer's industry experience and the guidance of advisor John Burke, the team is well-positioned to advance the development of Corvida and make a significant impact in the healthcare and pharmaceutical industry.

Next Section: Differentiation


Corvidane is entering a competitive landscape in the healthcare and pharmaceutical industry with its development of Corvida. This novel drug prevents heart attacks, strokes, and liver transplants caused by NASH. While the company claims its drug is better than others in the market, it does not provide specific details on how it surpasses established solutions. Additionally, Corvidane does not highlight any unique differentiators that set it apart from its competitors.

Corvidane's drug, Corvida, is built on preclinical solid science and contains Omega-7 and Omega-9 fatty acids known for improving lipid metabolism and possessing anti-inflammatory properties. However, without further information on clinical trials or proven efficacy in humans, it isn't easy to assess the proper differentiation and effectiveness of Corvida compared to existing treatments.

While Corvidane has patents to protect its intellectual property, it lacks solid medical or pharmaceutical partnerships. This may indicate that the company is still in the early stages of development and has yet to establish credibility and trust within the industry.

Next Section: Performance


Although Corvidane has made progress in securing grants totaling $700,000, the company has not yet generated any revenue. It had cash and cash equivalents of $58,779 at the end of its most recent fiscal year. Corvidane has also raised $391,884 in prior funding rounds, indicating investor interest in its potential.

Product development progress has been limited, with no significant advancements since the last funding round. The team has not experienced any growth, and there has been no increase in the user base. 

Overall, Corvidane is still in the early stages of development and faces significant challenges in bringing its drug to market. The company's success will rely on its ability to make progress in product development, secure partnerships, and navigate the competitive landscape of the healthcare and pharmaceutical industry.

Next Section: Risk


Investing in Corvidane carries some inherent risks. One of the significant risks is the company's early stage of development. Corvidane is in the preclinical phase, meaning its drug, Corvida, has not yet undergone human trials. The success of the drug in animal trials does not guarantee its efficacy and safety in humans. Another risk is the healthcare and pharmaceutical industry's high market approval and license regulations. Obtaining regulatory approvals for new drugs can be a lengthy and costly process. Delays or failures in obtaining necessary approvals could significantly impact Corvidane's timeline and financials.

Furthermore, Corvidane has a relatively small cash position and has incurred net losses in recent fiscal years. The company's monthly burn rate is also a consideration. This financial situation may necessitate additional funding in the future, which could dilute the ownership of existing shareholders. Lastly, the likelihood of facing legal issues in the highly regulated healthcare industry is considered high. Compliance with all applicable laws, regulations, and intellectual property rights is crucial for Corvidane's success. Any legal challenges or disputes could have a detrimental impact on the company's operations and financials. It's essential for potential investors to carefully evaluate these risks and consider their risk tolerance before investing in Corvidane.

Next Section: Bullish Outlook

Bullish Outlook

Corvidane is at the forefront of developing a novel drug, Corvida, to address serious health concerns such as heart attacks, strokes, and liver transplants resulting from NASH. The potential market for atherosclerosis drugs in the US is substantial, presenting a significant opportunity for Corvidane to make a meaningful impact in the healthcare industry.

Corvida stands out due to its unique formulation, combining Omega-7 and Omega-9 fatty acids to improve lipid metabolism and leverage their anti-inflammatory properties. The company's drug is based on preclinical solid science and can potentially revolutionize the treatment of heart and liver diseases. With its emphasis on safety and efficacy, Corvidane is well-positioned to disrupt the current landscape of lipid metabolism and inflammation therapies.

The company has already secured grants totaling $700,000, demonstrating recognition and support for its innovative approach. Additionally, Corvidane has filed patents to protect its intellectual property, establishing a barrier to entry for potential competitors.

While Corvidane is still in the early stages of development, its valuation of $21 million reflects the potential value investors see in its groundbreaking drug. The current crowdfunding campaign on Wefunder aims to raise funds for critical operations, toxicology studies, market research, manufacturing, and legal expenses. These funds will be instrumental in advancing Corvidane's research and development efforts, bringing them closer to potential commercialization.

Overall, Corvidane's focus on addressing major health issues and its unique approach to drug development position it for significant growth and impact within the healthcare and pharmaceutical industry.

Next Section: Bearish Outlook

Bearish Outlook

Corvidane is still in the early stages of development and has yet to bring a product to market. While the company's drug, Corvida, shows promise in treating heart and liver diseases, it is essential to note that it is still preclinical. This means that it has not undergone human trials or received regulatory approval. As a result, there is a significant risk associated with the success of Corvida and its ability to effectively prevent heart attacks, strokes, and liver transplants from NASH. Additionally, early-stage pharma companies require a lot of capital to get through clinical trials. This means that Cordivane will likely need to continue raising money before any revenue is generated.

Given the early stage of development and the high degree of capital required to sustain operations, investors should approach Corvidane with caution. Its drug's success and ability to bring it to market remain uncertain until the company can show positive results in humans.

Next Section: Executive Summary

Executive Summary

Corvidane is a healthcare and pharmaceutical company developing a novel drug, Corvida™, to prevent heart attacks, strokes, and liver transplants resulting from Non-alcoholic steatohepatitis (NASH). The drug leverages the anti-inflammatory properties and lipid metabolism improvement capabilities of Omega-7 and Omega-9 fatty acids. This innovative approach to treating heart and liver diseases is based on robust preclinical science, although no human trials have been conducted yet.

Despite being in the pre-product development phase, Corvidane shows promise due to the high market potential of the US Atherosclerosis Drugs sector. The company has dedicated founders and has already raised $391,884 in prior rounds. Additionally, it has received $700,000 in grants, further bolstering its financial position. The company has a moderate burn rate of $15,188.92 per month and has not yet generated revenue.

Corvidane's current crowdfunding campaign on Wefunder, with a valuation of $21 million, aims to raise funds between $50,000 and $618,000. The funds will be allocated toward operations, toxicology studies, market research, manufacturing, and legal expenses. Although the company operates in a slightly competitive landscape and requires high capital intensity, it has secured patents for its innovative drug, which may prevent further entrants into the space.

Overall, Corvidane presents an intriguing investment opportunity due to its innovative drug development, preclinical solid science backing, and the high market potential of the drug. However, investors should know the risks of investing in a pre-product development phase company in the pharmaceutical industry.


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Corvidane on Wefunder 2023
Platform: Wefunder
Security Type: SAFE
Valuation: $21,000,000

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