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Alveron Pharma BV raises a further EUR 3.9 million to progress first in class drug

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”.

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