Alveron Pharma Closes €5M Seed Extension to Advance Intracranial Hemorrhage Therapy

NIJMEGEN, Netherlands--Alveron Pharma has successfully secured €5 million in a Series Seed extension round to further the development of its groundbreaking drug, OKL-1111, designed for the treatment of intracranial haemorrhage (ICH). This funding round was led by Broadview Ventures and saw participation from all existing investors, including Sanquin, Thuja Capital, Waterman Ventures, and Oost NL.

Since its establishment in 2019, Alveron Pharma has been committed to developing an innovative synthetic anticoagulant and platelet inhibitor reversal agent. This agent aims to prevent the expansion of haematomas and improve clinical outcomes for ICH patients. Existing therapies for these patients have complex regimens that lead to lengthy door-to-needle times, often exceeding two hours, worsening the prognosis. In contrast, OKL-1111 offers a universal mode of action by binding to a downstream clotting factor, allowing it to be administered within 10 minutes of a diagnostic CT scan. Additionally, OKL-1111 can reverse the effects of clopidogrel, a prominent platelet inhibitor for which no antidote currently exists. The newly acquired capital will enable Alveron Pharma to expedite crucial development activities, ensuring OKL-1111 is ready for further clinical studies to demonstrate its safety and efficacy.

Ben Nichols, CEO of Alveron Pharma, expressed his enthusiasm for the support from their specialized life science investors and the expertise of their Scientific Advisory Board, emphasizing their eagerness to advance this innovative treatment and improve patient outcomes. Benjamin Kreitman, Principal at Broadview Ventures, highlighted the severe unmet medical need that intracranial haemorrhage represents. He noted that novel treatments to reverse both anticoagulants and platelet inhibitors could significantly enhance long-term outcomes for ICH patients. Kreitman also pointed out that Broadview Ventures' investment strategy focuses on improving human health in the areas of cardiovascular disease and stroke, making this a fitting investment to accelerate such an innovative approach in a crucial area of need.

Alveron Pharma's drug, OKL-1111, serves as a first-line intravenously-administered therapy for treating ICH associated with anticoagulant and/or platelet inhibitor use. The drug's novel mechanism and unique product profile could significantly reduce the time needed to stop bleeding compared to other reversal approaches, thereby limiting hematoma expansion and improving clinical outcomes, including mortality and morbidity.

Broadview Ventures is an investment organization driven by a mission to accelerate the development of innovative therapeutics, devices, and diagnostics for cardiovascular disease and stroke. Funded by the Leducq Charitable Trust, Broadview makes focused investments in early-stage companies.

Thuja Capital Management manages several venture capital funds aimed at building and expanding companies in the fields of biopharmaceuticals, MedTech, and digital health. By providing capital to innovative entrepreneurs with groundbreaking product concepts, Thuja positively impacts the health and well-being of patients globally.

Waterman Ventures, with over three decades of experience, specializes in transforming promising innovations into successful companies, supporting them in building teams, finding product-market fit, scaling production, and growing revenues.

Oost NL, the East Netherlands Development Agency, focuses on strengthening and stimulating the economy of Gelderland and Overijssel provinces. Supporting SMEs in their starting and growth phases, Oost NL provides risk capital from various revolving innovation funds and offers knowledge, networks, and personal contacts to bolster economic development.

Sanquinnovate focuses on transforming Sanquin's knowledge and expertise into practical solutions that enhance healthcare and the quality of life for patients and donors. By supporting the valorization process, participation, and securing licensing agreements, Sanquinnovate helps translate laboratory knowledge into real-world applications, creating societal value.

The combined efforts of these organizations and the continued development of OKL-1111 by Alveron Pharma mark a significant step forward in addressing the critical medical needs of patients suffering from intracranial haemorrhage.