On December 11, 2025, Cadrenal Therapeutics, Inc. (CVKD) announced the acquisition of VLX-1005 and related assets from Veralox Therapeutics, Inc. The 8-K filing disclosed a closing date payment of $200,000 for the transaction, which includes a Phase 2-ready asset for heparin-induced thrombocytopenia (HIT).

VLX-1005, which received both Orphan Drug and Fast Track Designations from the FDA for HIT, demonstrated dose-dependent prevention of platelet aggregation in murine models without increasing bleeding risk. According to the filing, the drug also showed significant inhibition of pulmonary embolism in HIT models, supporting its unique mechanism addressing the condition's pathogenesis.

"Our mission is to develop novel, differentiated products that bridge critical gaps in current acute and chronic anticoagulation management for rare and high-risk patient populations." — Quang X. Pham, CEO & Founder, Cadrenal Therapeutics

The company's pipeline includes two additional assets with regulatory designations: tecarfarin received Orphan Drug Designation for end-stage kidney disease patients with atrial fibrillation and LVAD patients, while frunexian received both Orphan Drug and Fast Track Designations for complex cardiac surgery and continuous renal replacement therapy patients.

Cadrenal Therapeutics reported a cash position of $3.9 million as of September 30, 2025, and entered into a collaboration with Abbott for LVAD patients. The company's leadership team includes CEO Quang X. Pham, CFO Matthew Szot, COO Jeff Cole, and CMO James Ferguson, according to the filing.

The asset purchase agreement, executed on December 10, 2025, transfers exclusive worldwide license rights from Eastern Virginia Medical School (EVMS) through Veralox to Cadrenal. The company noted timelines extending into 2026 and 2027 for VLX-1005 development.