VarmX Funding Round

5/25/2023

Venture Equity

$32,192,000

Series B

The company intends to use the funds to obtain investigational new drug (IND) approval for its lead compound VMX-C001 and to complete preparations for the pivotal clinical trial, including large scale manufacturing.

Private & Independent

Biopharmaceutical

Middelweg 38 B
Leiden, 2312 KJ
NL

Undisclosed

VarmX is a spin-off from the Leiden University Medical Center (LUMC). The mission of VarmX is to develop and manufacture therapeutic proteins to restore hemostasis. VarmX's lead compound VMX-COO1 is intended to safely and effectively restore hemostasis in case of bleeding or emergency surgery in patients taking so-called oral factor Xa inhibitors. Synthetic oral factor Xa inhibitors (such as edoxaban, rivaroxaban and apixaban) belong to the latest generation of anticoagulants and their world-wide use by patients at risk of thrombosis and stroke is increasing rapidly. However, usage of factor Xa inhibitors comes at the expense of a risk of uncontrolled and potentially life-threatening bleeding. To stop or prevent - the latter in the case of emergency surgery - these bleedings one needs a reversal agent as an antidote. VarmX has a product in its pipeline called VMX-COO1 that promises safe and effective reversal.