Participated · Seed · Sep 2019

Veralox Therapeutics is a clinical-stage biotechnology company developing first-in-class therapeutics that target the 12-lipoxygenase (12-LOX) pathway. Its lead candidate, VLX-1005, is in development for heparin-induced thrombocytopenia (HIT) and has U.S. orphan drug designation and FDA Fast Track designation. The company is preparing a Phase 2a proof-of-concept study in HIT and is also developing second-generation products for type 1 diabetes and other immune-mediated and inflammatory diseases. In June 2023 Veralox announced a $24 million financing that the company said fully funds the Phase 2a clinical program for VLX-1005. In conjunction with the financing the company named Jonathan Mow as CEO and added Peter Young of Pappas Capital to its board, with Meg Wood of NYBC Ventures joining as an observer. Veralox is based in Frederick, Maryland. Veralox Therapeutics is a biotechnology company developing small-molecule therapeutics to treat the underlying causes of diseases with significant unmet medical needs. The company is led by University of Maryland graduate Jeffrey Strovel, PhD, who serves as chief executive officer. Veralox announced the closing of a $16 million Series A financing in June 2021. Investors in the round include Sanofi Ventures, Genesys Capital, Hatteras Venture Partners, JDRF T1D Fund, Point Field Partners, VTC Innovation Fund, the University System of Maryland Momentum Fund, and TEDCO. Veralox was an early portfolio company of the USM Momentum Fund, which made a $500,000 seed investment in 2019. The Momentum Fund has also provided connections to potential partners and strategic counsel, which the company cites as contributing to its growth. Veralox Therapeutics is a preclinical-stage biopharma company focused on developing first-in-class inhibitors of 12‑LOX, an enzyme implicated in platelet activation and cellular stress signaling. Its lead candidate, VLX-1005, was discovered and developed in collaboration with UC Santa Cruz, Thomas Jefferson University, the NIH, and Eastern Virginia Medical School. The company intends to develop VLX-1005 initially for heparin-induced thrombocytopenia and thrombosis (HITT/HIT) and is advancing second-generation products for type 1 diabetes and other immune-mediated and inflammatory diseases. The new capital will be used to support preclinical development and to prepare for clinical studies in patients. Founded in 2017 and headquartered in Maryland, Veralox was founded by Jeffrey Strovel, David Maloney, and Matthew Boxer. No revenues or operating metrics were disclosed in the announcement.