Hemab Therapeutics IPO Raises $346.7M for Bleeding Disorder Pipeline

Hemab’s lead candidate, sutacimig, is expected to enter Phase III testing in Glanzmann thrombasthenia in the second half of 2026. 

Hemab Therapeutics went public in May 2026, closing an upsized IPO that raised approximately $346.7 million in gross proceeds. 

Now trading on the Nasdaq Global Select Market under the ticker symbol COAG, the company is advancing a pipeline focused on rare and underserved bleeding disorders that can cause serious, recurring bleeds and a high treatment burden. 

Hemab is developing medicines that are meant to help prevent bleeding episodes before they happen. This type of preventive treatment is known as prophylactic care.

The company is starting with three inherited bleeding disorders where patients still face a high treatment burden, namely, Glanzmann thrombasthenia, factor VII deficiency and von Willebrand disease.

Glanzmann thrombasthenia affects the ability of platelets, the blood cells that help form clots, to stick together properly. Factor VII deficiency involves low levels of factor VII, a protein that helps start the clotting process. 

Von Willebrand disease, the most common inherited bleeding disorder, is linked to low levels or poor function of von Willebrand factor, a protein that helps platelets attach to damaged blood vessels. 

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Hemab’s lead drug candidate is sutacimig, also known as HMB-001. It is an engineered bispecific antibody designed to bind to two different targets at the same time, the body’s own factor VII and a receptor found on activated platelets. It acts like a bridge to concentrate clotting activity at the site of a damaged blood vessel.

The treatment is being developed as a subcutaneous, or under-the-skin, injection. That could make it easier to use than treatments that require intravenous administration or are given only after bleeding has already started. 

Hemab has completed parts of a Phase I/II trial of sutacimig in Glanzmann thrombasthenia, with a long-term extension still ongoing. In the study, sutacimig reduced the annualized treated bleed rate, a measure of bleeding episodes that required treatment, by up to 87% across tested dosing regimens.

While these results must be confirmed in larger studies, Hemab plans to launch a Phase III trial in Glanzmann thrombasthenia in the second half of 2026. The company is also running a Phase II trial in factor VII deficiency, with data expected in late 2026 or early 2027. 

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Hemab is also progressing HMB-002, a monovalent antibody for von Willebrand disease designed to boost the body’s levels of both von Willebrand factor and Factor VIII. 

The candidate is being studied in a Phase I/II trial called Velora Pioneer, where early single-dose data showed increases in these clotting proteins. Initial results from the multi-dose portion of the trial are expected in late 2026 or early 2027.

Von Willebrand disease already has approved treatment options, including Takeda’s Vonvendi, which received an expanded FDA approval in 2025 for routine preventive use in adults with all types of the disease and certain uses in children.

Beyond sutacimig and HMB-002, Hemab is also working on earlier-stage candidates for other coagulation disorders. The company expects one of its earlier-stage programs to enter clinical testing in the second half of 2026, pending regulatory clearance. 

Recent FDA approvals in hemophilia, including Pfizer’s Hympavzi, Novo Nordisk’s Alhemo and Sanofi’s Qfitlia, show interest in treatments that can prevent or reduce bleeding episodes without frequent IV infusions.

The sector has also seen recent dealmaking. In June 2026, Incyte agreed to acquire Vega Therapeutics for up to $2 billion, adding VGA039, a Phase III investigational antibody for von Willebrand disease, to its hematology pipeline.