Dutch-based Alveron Pharma raises €5M to advance therapy for intracranial haemorrhage

Nijmegen, The Netherlands-based Alveron Pharma, a clinical-stage company, announced on Monday that it has secured €5M in a Series Seed extension funding round led by Broadview Ventures.

Others, including existing investors like Sanquin (the Dutch Blood Foundation), Thuja Capital, Waterman Ventures, and Oost NL, also participated.

Fund utilisation

The Dutch company will use the funds to advance the development of its innovative drug, OKL-1111, to treat intracranial haemorrhage (ICH).

Additionally, the company will use the funds to accelerate important development activities supporting OKL-1111’s readiness for further clinical studies to demonstrate patient safety and proof-of-concept efficacy.

“With the support from our syndicate of specialist life science investors, alongside the expertise of our Scientific Advisory Board, we are eager to advance our innovative therapeutic approach and improve patient outcomes,” says Ben Nichols, CEO of Alveron Pharma.

Alveron Pharma: Therapy for intracranial haemorrhage

Founded in 2019, Alveron Pharma is working on a synthetic drug that can reverse the effects of anticoagulants and platelet inhibitors.

This drug aims to prevent hematoma expansion and improve outcomes for patients with intracerebral haemorrhage (ICH).

Current treatments for ICH patients taking anticoagulants are complicated and often take too long to administer, sometimes more than two hours. This delay can lead to worse results for patients.

OKL-1111 has a universal action by binding to a specific clotting factor and can be given within 10 minutes of a CT scan diagnosis. It also reverses the effects of clopidogrel, a common platelet inhibitor that currently has no antidote.

The investor

Broadview Ventures is a mission-driven investment organisation that makes targeted investments in early-stage companies to accelerate the development of innovative therapeutics, devices, and diagnostics for cardiovascular disease and stroke.

Benjamin Kreitman, Principal at Broadview Ventures, Inc., comments, “Intracranial haemorrhage remains a severe unmet medical need, and the development of novel treatments to reverse both anticoagulants and platelet inhibitors could deliver a meaningful improvement in the long-term outcomes of ICH patients. As Broadview’s investment strategy is focused on the improvement of human health in the areas of cardiovascular disease and stroke, we are delighted to accelerate this highly innovative approach in this indication of significant unmet need.”