Alveron Pharma Secures €5 Million to Advance Hemorrhage Treatment
Amsterdam, Tuesday, 10 December 2024.
Alveron Pharma raised €5 million to accelerate the development of its drug OKL-1111 for cerebral hemorrhages, led by Broadview Ventures, enhancing stroke treatment in the Netherlands.
Breakthrough in Medical Technology
This healthtech innovation represents a significant advancement in treating cerebral hemorrhages. Alveron Pharma, founded in 2019 and based in Nijmegen, Netherlands [1][2], has developed OKL-1111, a synthetic compound that can neutralize both anticoagulants and platelet inhibitors [1]. The company’s breakthrough is particularly notable as current treatment options for intracranial hemorrhage (ICH) patients often involve complex protocols with treatment delays exceeding two hours [1][2].
Revolutionary Treatment Approach
OKL-1111’s innovative mechanism allows for administration within 10 minutes following a CT scan [1][2], marking a dramatic improvement over existing protocols. Significantly, it’s the first treatment to neutralize clopidogrel, a widely-used blood platelet inhibitor that currently has no antidote [1]. This development addresses a critical gap in medical treatment, offering hope for improved outcomes in hemorrhage patients.
Investment Details and Strategic Support
The €5 million (approximately $5.28 million USD) seed extension financing [2] was secured through a consortium of investors. The round was led by Broadview Ventures, a specialized American investor focusing on cardiovascular diseases and strokes, with participation from existing investors including Sanquin, Thuja Capital, Waterman Ventures, and Oost NL [1][2]. This funding will accelerate the development of OKL-1111, particularly in advancing crucial steps toward clinical studies [1].
Growing Market Need and Future Impact
The development comes at a crucial time as the aging population and changing lifestyles have led to an increase in blood thinner usage [1]. According to Hester Tak, investment manager at Oost NL, this demographic shift has resulted in a rising number of acute bleeding incidents, making innovative solutions like OKL-1111 increasingly important [1]. The treatment promises not only to improve patient outcomes but also to potentially reduce healthcare costs through more effective and efficient treatment protocols [1].