Hemab Therapeutics Files for NASDAQ IPO to Advance Bleeding Disorder Therapies
Key Insights
Hemab Therapeutics (search), a clinical-stage biotech developing subcutaneous prophylactic therapies for serious bleeding disorders, filed for an initial public offering on NASDAQ under ticker "COAG."
The company's lead asset sutacimig (search) (HMB-001) is a bispecific antibody in Phase 1/2 development for Glanzmann thrombasthenia (search) and Phase 2 for Factor VII deficiency (search), with Phase 3 planned.
IPO proceeds will fund late-stage development of sutacimig (search) and HMB-002 for Von Willebrand Disease (search), targeting approximately 130,000 patients across key global markets.
Hemab Therapeutics (search) Holdings, Inc., a clinical-stage biotechnology company developing subcutaneous prophylactic therapies for serious bleeding disorders, filed for an initial public offering on April 10, 2026. The company plans to list on the Nasdaq Global Select Market under the ticker "COAG," with proceeds supporting late-stage development of its lead assets for Glanzmann thrombasthenia (search), Factor VII deficiency (search), and Von Willebrand Disease (search).
Lead Asset Shows Promise Across Multiple Indications
Hemab's flagship therapy, sutacimig (search) (HMB-001), represents a novel approach to treating bleeding disorders through a bispecific antibody designed to direct endogenous Factor VII/VIIa to activated platelets to enhance local thrombin generation at bleeding sites. The therapy is currently in Phase 1/2 development for Glanzmann thrombasthenia (search) and in Phase 2 for Factor VII deficiency (search), with plans for a Phase 3 study in Glanzmann thrombasthenia.
The company has secured multiple regulatory designations for sutacimig (search), including FDA Fast Track and Breakthrough Therapy status, as well as FDA and EMA Orphan Drug designations and UK ILAP designation specifically for Glanzmann thrombasthenia (search) treatment.
Expanding Pipeline Targets Von Willebrand Disease
Hemab's second asset, HMB-002, is a monovalent antibody targeting the VWF CK domain (search) to stabilize endogenous von Willebrand factor and increase Factor VIII (search) levels. This therapy is being developed as a subcutaneous prophylactic option for Von Willebrand Disease (search) and is currently in Phase 1/2 development.
The company estimates a total addressable market of approximately 10,000 patients across Glanzmann thrombasthenia (search) and Factor VII deficiency (search), plus around 120,000 Von Willebrand Disease (search) patients in target geographies including the U.S., EU, Japan, GCC countries, and select regions.
Strategic Partnerships and Commercial Plans
Hemab maintains global economic rights for its therapies and has established partnerships with Novo Nordisk for TLT-1/Factor VII bispecific intellectual property and with Genmab for DuoBody platform technology. The company operates from locations in Cambridge, Massachusetts, and Copenhagen, Denmark, with plans to commercialize products in the U.S., EU, Japan, GCC countries, and select regions.
The shift toward prophylactic therapies is expanding the treated population as awareness and access improve, positioning Hemab to build a leading coagulation franchise with multiple clinical-stage assets and potential label expansions.
Financial Position and Leadership
Since inception, Hemab has raised approximately $346 million in funding. The company reported a net loss of $63.9 million in 2025, with operating losses of $70.1 million, reflecting its pre-commercial status with no product revenue to date.
The company is led by President and CEO Benny Sørensen, M.D., Ph.D., who brings over 25 years of experience in coagulation medicine from previous roles at Codiak, Alnylam, and Baxter. The leadership team includes CFO Mads Behrndt, CMO Catherine Madigan, M.D., and COO Ananthram Murthy, Ph.D., with John M. Maraganore, Ph.D., founding CEO of Alnylam, serving as Board Chair.
IPO Details and Future Plans
Goldman Sachs & Co. LLC, Jefferies, and Evercore ISI serve as lead underwriters for the offering, with Wedbush PacGrow as lead manager. The company plans to use IPO proceeds to fund clinical development of sutacimig (search) for Glanzmann thrombasthenia (search) and Factor VII deficiency (search), advance HMB-002 for Von Willebrand Disease (search), support discovery and preclinical programs, and provide working capital for general corporate purposes.
Hemab expects to advance its first preclinical program to clinic in the second half of 2026, further expanding its pipeline of coagulation therapies targeting serious bleeding disorders with significant unmet medical needs.