VarmX, a Leiden, Netherlands-based biotech company focusing on the development of therapies in the field of hemostasis and thrombosis, closed its seed financing round.
Backers included BioGeneration Ventures (BGV) and InnovationQuarter.
The funds will enable VarmX to advance its lead compound PseudoXa, a modified factor X as a safe and effective factor Xa inhibitor reversal agent.
Led by CSO Pieter Reitsma, Professor emeritus of Molecular and Experimental Medicine at LUMC, and chairman Oskar Slotboom, partner at BGV, VarmX is a pharmaceutical spin-off from the Leiden University Medical Center (LUMC), advancing PseudoXa, a new therapeutic protein to stop acute bleeding in patients taking factor Xa inhibitors, such as the commonly used apixaban.
The company previously received a pre-seed investment from Leiden University and UNIIQ, the early-stage proof-of-concept investment fund for the South-Holland province.