About NBO Pharma
NBO Pharma develops a nasal medicine for people with dangerous pressure around the brain. Its candidate repurposes octreotide acetate to treat idiopathic intracranial hypertension, or IIH. The compound already has approval for conditions outside the central nervous system, but current delivery systems are unsuitable for IIH. Six open-label studies run by others found injected octreotide, given as often as three times daily, lowered brain pressure, headaches and vision symptoms. NBO is testing a nasal version that could ease treatment compared with repeated injections.
NBO incorporated in 2021 and is based in Bedford, New York. Fredric Price is chairman and chief executive officer. The company finished Phase 1 in the fourth quarter of 2025. It expects Phase 2 to begin in the third quarter of 2026 and finish in the first quarter of 2027. Its IIHConnect resource combines research, expert videos, patient stories and a searchable specialist directory. Ask Isaiah, an AI chatbot within the resource, answers IIH questions from research and clinical materials.
Funding Rounds (SEC Form D)
| First sale | Filed with SEC | Amount sold | Investors | Avg. check | Terms | Filing |
|---|---|---|---|---|---|---|
| Nov 2, 2026 | Nov 9, 2026 | $238,000of $7.0M target | 5 | $47,600 | Equity, OptionsRule 506(c) | Form D ↗ |
| Jun 12, 2025 | Jan 22, 2026 | $7,640,217fully sold | 93 | $82,153 | Equity, OptionsRule 506(c) | Form D ↗ |
| Total, two offerings | $7,878,217 | |||||
First sale is the date the first investor in the offering committed to invest. Companies must file Form D within 15 days of that date, so filing dates run later.
Why Investors Backed NBO Pharma
NBO Pharma is developing intranasal octreotide for IIH. Its investment case depends on whether nasal delivery can turn established biological evidence into a practical treatment. The program addresses a serious eye and brain disorder with no approved drug. Later trials and regulatory decisions still determine whether it can reach patients.
The problem it targets
Untreated IIH can swell both optic nerves, enlarge blind spots, obscure vision and eventually cause vision loss. The optic-nerve swelling is called papilledema. NBO says no drug is approved for the disease. Existing octreotide delivery systems are difficult or unsuitable for IIH, despite the compound's approval for other conditions. Patients and specialists therefore lack a drug designed for this use.
What the product does
Octreotide acts on receptors in the central nervous system. NBO's candidate delivers it through the nose rather than an injection. In rat studies, repeated nasal dosing exposed both the central nervous system and bloodstream to the compound. NBO expects this route to reduce dosing frequency, required amounts and body-wide side effects. It could also avoid the pain and discomfort of injectable treatment.
Progress so far
Phase 1 enrolled 20 healthy volunteers and assessed safety, doses, drug movement and early uptake signals. NBO reports successful toxicology work in rats and dogs, including three-month studies in each species and a 14-day dog study. U.S. orphan designation arrived in July 2021, followed by European designation that December. NBO filed two U.S. patents that year and two international applications in 2022. Two related patents received Australian approval in 2025; others remain pending. NBO plans applications in both regions and sees possible accelerated U.S. approval.
How the market is moving
NBO estimates more than 25,000 addressable patients in the United States and another 25,000 in Europe. No competing drug is approved or in development for IIH. In NBO's view, this creates room for a first approved therapy across both regions. Its commercial targets are neuro-ophthalmologists, ophthalmologists, neurologists and headache specialists. Those groups match the disease's effects on brain pressure, vision and headaches.
We wrote this summary from public statements by NBO Pharma and its investors. It is not investment advice.
Leadership Team
Executive officers and directors listed on NBO Pharma's Form D filed Nov 9, 2026.
Sources
- SECNBO Pharma Inc. filing history
- CompanyAbout NBO Pharma
- CompanyContact NBO Pharma
- CompanyNBO Pharma terms of use