Alveron Pharma BV raises a further EUR 3.9 million to progress first in class drug to treat life-threatening anticoagulant-related bleeds
Alveron Pharma BV (Nijmegen, The Netherlands) has raised a further EUR 3.9 million to fund the continued development of OKL-1111, a first-in-class drug to treat anticoagulant related bleeds. Investors Thuja Capital, Waterman Ventures and Oost NL participated in the fund raising alongside a loan from Rijksdienst Voor Ondernemend Nederland (RVO). The round follows seed financing of EUR 6.5 million in 2019.
The additional funding will finance the OKL-1111 program including a first in man study which is anticipated to start in Q3 2022.
Alveron’s drug is unique as it reverses the effects of all the major anticoagulants (including all DOACs and vitamin K antagonists) and platelet aggregation inhibitors like clopidogrel. This enables clinicians to intervene in emergencies without prior knowledge of the type of anticoagulant used and potentially simplifies treatment protocols. The drug, in contrast to leading competitors, is not a biologic nor a blood derived material, providing both cost and safety advantages.
Alveron’s CEO, Dr Ben Nichols, commented “anticoagulant-related bleeding is a significant issue and poorly served by either selective reversal agents or off label use of blood derived products; with 2-3% of all anti-coagulated patients suffering bleeding events, some of which are life threatening, this is an area that needs better therapies”.
For further information contact CEO Ben Nichols (ben.nichols@alveron.com)
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RVO
Innovation Credit (Innovatie Krediet) is a loan from Rijksdienst voor Ondernemend Nederland (RVO, part of the Ministry of Economic Affairs and Climate Policy) for co-financing of a part of the project costs. Innovation Credit supports the development of promising and challenging innovations with an excellent market perspective. More about the Innovation Credit is available on: https://www.rvo.nl/subsidie-en-financieringswijzer/innovatiekrediet
Thuja Capital
Thuja Capital Management (Thuja) manages several venture capital funds aimed at building and scaling companies in the fields of (bio)pharmaceuticals, medtech and digital health. In addition to generating a financial return for its investors, Thuja’s investments positively impact the health and well-being of patients. Thuja serves physicians and patients worldwide by providing capital to daring entrepreneurs with ground-breaking product concepts locally. For more information visit www.thujacapital.com
Waterman Ventures
Waterman Ventures invests in ambitious technology companies that combine a positive impact on society with a healthy financial return. Over the last 30 years, we have been a long term partner to many successful businesses. Our team, based in the Netherlands, shares a passion for technology and a hands-on mindset to support growth in our portfolio companies.
Oost NL
Oost NL (East Netherlands Development Agency) is an agency that focuses its activities and projects on strengthening and stimulating the economy of the provinces of Gelderland and Overijssel, the Netherlands. Oost NL supports starting and growth-phase SMEs. We do this partly with risk capital from various revolving innovation funds, and partly through our knowledge, networks and personal contacts. Through the revolving funds we provide for direct as well as indirect investment and take care of the fund management.
Alveron Pharma BV
Alveron Pharma was founded in 2019. The Company is developing a unique coagulation platform technology with the world's first cyclodextrin-based anticoagulant reversal drug. The share-holders of Alveron are Thuja Capital, Waterman Ventures, OostNL, Okklo Life Sciences BV & Sanquin Innovatie BV.