Alveron Pharma has secured €5 million in a seed extension financing round to propel the development of OKL-1111, a novel therapy targeting intracranial hemorrhage (ICH). The funding round was led by Broadview Ventures, with participation from existing investors including Sanquin, Thuja Capital, Waterman Ventures, and Oost NL.
The investment will enable Alveron to advance OKL-1111 through critical development stages, paving the way for clinical trials to assess its safety and efficacy in ICH patients. Ben Nichols, CEO of Alveron, expressed enthusiasm for advancing their therapeutic approach to improve patient outcomes with the support of specialist life science investors and a scientific advisory board.
Addressing ICH Treatment Gaps
ICH poses a significant medical challenge, particularly for patients on anticoagulants. Current therapies often involve complex regimens, leading to delays in treatment administration. These delays, often exceeding two hours from diagnosis to treatment, can exacerbate poor patient outcomes. Alveron's OKL-1111 is designed to overcome these limitations.
OKL-1111 features a universal mechanism of action, binding to a downstream clotting factor. Alveron claims it can be administered within 10 minutes of a CT scan diagnosis. Notably, the drug also reverses the effects of clopidogrel, a widely used platelet inhibitor for which there is currently no specific antidote.
OKL-1111: A Potential Breakthrough
OKL-1111's unique profile as both an anticoagulant and platelet inhibitor reversal agent holds promise for preventing hematoma expansion and improving clinical outcomes in ICH patients. Benjamin Kreitman, Principal at Broadview Ventures, highlighted the significant unmet medical need in ICH treatment and the potential of OKL-1111 to deliver meaningful improvements in patient outcomes. Broadview's investment aligns with their focus on improving human health in cardiovascular disease and stroke, marking a commitment to advancing innovative approaches in areas of significant unmet need.
