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Velan Capital Investment Management LP

CIK 1848809 · latest 13F filed 14 August 2026 · Read the filing on EDGAR

Velan Capital Investment Management LP reported 50 US-listed holdings worth $163.2 million in its 13F for the quarter ended 30 June 2026, filed 14 August 2026. Its largest: Praxis Precision Medicines I (18.2%), Maplight Therapeutics Inc. (10.8%) and Sutro Biopharma Inc. (10.4%). Against the quarter before, it opened 6 positions, added to 10, trimmed 11 and sold out of 5.

Reported holdings$163.2M+2.2% on Q1 2026
Positions50+1 on Q1 2026
The largest ten75.2%of its reported holdings
Latest 13FQ2 2026filed 14 August 2026
Where the money is
Added toHeldTrimmed
PRAX18.2%MPLT10.8%STRO10.4%IMMX6.9%TARA6.7%ABVX5.4%TENX4.9%AVR4.2%EDSA4.1%EVMN3.7%AVTX3.7%XNCR2.5%RZLT2.4%HRTX2.3%36 more13.9%

The 14 largest of its 50 positions, each sized by its share of the reported holdings, coloured by the change in shares against Q1 2026.

Reported holdings, quarter by quarter
Q3 2024: $92.1 million in 17 positions$92.1MQ3 24Q4 2024: $115.9 million in 45 positions$116MQ4 24Q1 2025: $97.2 million in 47 positions$97.2MQ1 25Q2 2025: $99.9 million in 49 positions$99.9MQ2 25Q3 2025: $106.5 million in 49 positions$106MQ3 25Q4 2025: $171.9 million in 45 positions$172MQ4 25Q1 2026: $159.6 million in 49 positions$160MQ1 26Q2 2026: $163.2 million in 50 positions$163MQ2 26

What the fund reported holding at each quarter's end; hover a bar for the number of positions

What its reported holdings returned

Held through each quarter, the holdings it reported returned +62.6% over the 7 quarters to 30 June 2026, against +30.2% for the S&P 500.

Its reported holdingsThe S&P 500
90120150Q3 24Q4 24Q1 25Q2 25Q3 25Q4 25Q1 26Q2 26Its holdings +62.6%S&P 500 +30.2%

Not the fund's own return: each 13F's holdings are kept unchanged until the next one, so trades inside a quarter, dividends, cash and fees are left out. A rough guide to how its picks have done over time.

What it did on the quarter

Opened 6Added 10Held 23Trimmed 11Sold out 5
Opened: 6Added: 10Held: 23Trimmed: 11Sold out: 5

Its positions against its 13F for the quarter to 31 March 2026; a change under 0.1% of a position counts as held

Opened 6

  1. C4 Therapeutics Inc. CCCC$2.7 million
  2. Adma Biologics, Inc. ADMA$2.1 million
  3. Aileron Therapeutics Inc. RNTX$1.8 million
  4. Tectonic Therapeutic Inc. TECX$206,250
  5. AN2 Therapeutics Inc. ANTX$193,600
  6. Scynexis Inc. SCYX$162,800

Added to 10

  1. Immix Biopharma Inc. IMMX+345,000 shares · +47%
  2. Avalo Therapeutics Inc. AVTX+139,330 shares · +75%
  3. Neumora Therapeutics Inc. NMRA+150,000 shares · +188%
  4. Macrogenics Inc. MGNX+30,000 shares · +100%
  5. Xencor Inc. XNCR+5,000 shares · +2%
  6. Evommune Inc. EVMN+5,000 shares · +1%
  7. Karyopharm Therapeutics Inc. KPTI+5,000 shares · +33%
  8. Lyell Immunopharma Inc. LYEL+3,000 shares · +3%

and 2 more in the table below

Trimmed 11

  1. Praxis Precision Medicines I PRAX-12,000 shares · -12%
  2. Cytomx Therapeutics Inc. CTMX-420,000 shares · -78%
  3. Abivax SA ABVX-11,370 shares · -15%
  4. Viridian Therapeutics, Inc. VRDN-81,123 shares · -89%
  5. Inspiremd Inc. NSPR-2.0 million shares · -93%
  6. Rocket Pharmaceuticals Inc. RCKT-234,643 shares · -80%
  7. Profound Med Corp. Com New PROF-115,432 shares · -40%
  8. Tenax Therapeutics Inc. TENX-33,348 shares · -6%

and 3 more in the table below

Sold out of 5

  1. Esperion Therapeutics Inc. Ne ESPR$4.7 million last quarter
  2. Kazia Therapeutics Ltd KZIA$1.0 million last quarter
  3. Arrowhead Pharmaceuticals, Inc. ARWR$407,550 last quarter
  4. Design Therapeutics Inc. DSGN$212,800 last quarter
  5. PMV Pharmaceuticals Inc. PMVP$90,520 last quarter

What it holds

CompanySharesValueOf its bookChange in shares
Praxis Precision Medicines I PRAX88.8K$29.7 million18.21%-12.0K
Maplight Therapeutics Inc. MPLT492.9K$17.7 million10.82%no change
Sutro Biopharma Inc. STRO512.2K$17.0 million10.42%no change
Immix Biopharma Inc. IMMX1.1M$11.2 million6.85%+345.0K
Protara Therapeutics Inc. TARA2.8M$10.9 million6.66%+10.0K
Abivax SA ABVX65.6K$8.7 million5.36%-11.4K
Tenax Therapeutics Inc. TENX550.0K$8.0 million4.90%-33.3K
Anteris Technologies Global AVR700.0K$6.9 million4.22%no change
Edesa Biotech Inc. EDSA827.5K$6.7 million4.12%no change
Evommune Inc. EVMN451.3K$6.0 million3.67%+5.0K
Avalo Therapeutics Inc. AVTX324.5K$6.0 million3.67%+139.3K
Xencor Inc. XNCR255.0K$4.1 million2.52%+5.0K
Rezolute Inc. RZLT750.0K$3.9 million2.39%no change
Heron Therapeutics Inc. HRTX8.8M$3.7 million2.29%no change
Verrica Pharmaceuticals Inc. VRCA471.6K$2.9 million1.77%no change
C4 Therapeutics Inc. CCCC570.0K$2.7 million1.63%new
Eupraxia Pharmaceuticals Inc. EPRX352.0K$2.3 million1.43%no change
Adma Biologics, Inc. ADMA250.0K$2.1 million1.28%new
Aileron Therapeutics Inc. RNTX1.7M$1.8 million1.08%new
Lyell Immunopharma Inc. LYEL105.0K$1.5 million0.90%+3.0K
Nasus Pharma Ltd NSRX359.4K$1.3 million0.77%no change
Profound Med Corp. Com New PROF170.3K$1.1 million0.69%-115.4K
Jasper Therapeutics Inc. JSPR2.7M$1.1 million0.69%no change
Protagonist Therapeutics, Inc. PTGX3.7K$453,5460.28%no change
Cytomx Therapeutics Inc. CTMX120.0K$450,0000.28%-420.0K
Neumora Therapeutics Inc. NMRA230.0K$391,0000.24%+150.0K
Nurix Therapeutics, Inc. NRIX16.0K$388,1600.24%no change
Ovid Therapeutics Inc. OVID130.0K$349,7000.21%-30.0K
Precision Biosciences Inc. DTIL40.0K$314,4000.19%no change
Mineralys Therapeutics Inc. MLYS11.0K$296,7800.18%no change
Macrogenics Inc. MGNX60.0K$277,2000.17%+30.0K
Corbus Pharmaceuticals Hldgs CRBP26.0K$243,8800.15%no change
Artiva Biotherapeutics Inc. ARTV25.0K$242,5000.15%no change
Replimune Group, Inc. REPL20.0K$221,4000.14%no change
Syndax Pharmaceuticals Inc. SNDX10.0K$218,6000.13%no change
Immunome Inc. IMNM10.0K$211,9000.13%no change
Tectonic Therapeutic Inc. TECX6.0K$206,2500.13%new
Rocket Pharmaceuticals Inc. RCKT60.0K$205,2000.13%-234.6K
Karyopharm Therapeutics Inc. KPTI20.0K$195,4000.12%+5.0K
AN2 Therapeutics Inc. ANTX40.0K$193,6000.12%new
Viridian Therapeutics, Inc. VRDN10.0K$183,7000.11%-81.1K
Scynexis Inc. SCYX40.0K$162,8000.10%new
Quoin Pharmaceuticals Ltd ADR QNRX32.4K$156,6800.10%-52.5K
Xilio Therapeutics Inc. XLO14.3K$136,8500.08%no change
Inspiremd Inc. NSPR148.1K$103,7110.06%-2.0M
Kalaris Therapeutics Inc KLRS25.0K$101,7500.06%+7.0K
Larimar Therapeutics Inc. LRMR33.0K$100,6500.06%no change
Proqr Thrapeutics N V PRQR45.0K$83,7000.05%no change
Context Therapeutics Inc. CNTX59.7K$33,0680.02%-40.3K
Gossamer Bio, Inc. GOSS70.0K$11,5220.01%no change
Every US-listed position in the fund's 13F for the quarter ended 30 June 2026, by the value it reported.
Read moreChange is shares against its 13F for the quarter before; the 5 it sold out of are in the box above.

Options it reported

CompanyOptionShares under the optionsValue of those shares
Tenax Therapeutics Inc. TENXCalls68.7K$999,585

1 option lines. A 13F lists calls and puts by the shares they cover and what those shares were worth at the quarter's end, not what the options cost; they are not counted in the holdings above.