Velan Capital Investment Management LP — 13F Holdings & Portfolio
CIK 1848809 · latest 13F-HR filed 2026-05-15
Velan Capital Investment Management LP manages $159.6M in 13F-reported U.S. long-equity assets across 50 reported positions as of its 2026-03-31 13F-HR filing. Its largest disclosed positions are PRAX (20.34%), TARA (9.25%), STRO (7.99%). Quarter over quarter (versus its 2025-12-31 filing) the fund opened 12 new positions, exited 8, added to 18, and trimmed 15.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
$159.6M
Long-equity book
50
Distinct positions
2026-03-31
Filed 2026-05-15
+12 / −8 / ↑18 / ↓15
vs 2025-12-31
| Name | Title / Status | Ownership | Type |
|---|
Top Adds (vs prior quarter)
- SUTRO BIOPHARMA INC$9.1M +253.4%
- TENAX THERAPEUTICS INC$8.3M +818.2%
- IMMIX BIOPHARMA INC$6.6M +3582.8%
- EDESA BIOTECH INC$3.4M +343.3%
- PRAXIS PRECISION MEDICINES I$2.8M +9.3%
Top Trims
- MINERALYS THERAPEUTICS INC-$5.2M -94.6%
- HERON THERAPEUTICS INC-$4.4M -38.5%
- JASPER THERAPEUTICS INC-$2.5M -52.1%
- SYNDAX PHARMACEUTICALS INC-$2.5M -91.4%
- AVALO THERAPEUTICS INC-$2.0M -42.3%
New Positions
- ANTERIS TECHNOLOGIES GLOBAL$3.9M
- XENCOR INC$3.0M
- LYELL IMMUNOPHARMA INC$2.0M
- ROCKET PHARMACEUTICALS INC$1.1M
- NASUS PHARMA LTD$797.8K
Exited Positions
- CIDARA THERAPEUTICS INC$23.9M
- LANTHEUS HLDGS INC$5.0M
- RAPT THERAPEUTICS INC$3.7M
- TERNS PHARMACEUTICALS INC$2.8M
- TREVI THERAPEUTICS INC$2.6M
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | PRAXIS PRECISION MEDICINES I | PRAX | 74006W207 | $32.5M | 20.34% | 100,781 | SH |
| 2 | PROTARA THERAPEUTICS INC | TARA | 74365U107 | $14.8M | 9.25% | 2,834,652 | SH |
| 3 | SUTRO BIOPHARMA INC | STRO | 869367201 | $12.8M | 7.99% | 512,160 | SH |
| 4 | EVOMMUNE INC | EVMN | 30054Y107 | $10.3M | 6.43% | 446,255 | SH |
| 5 | MAPLIGHT THERAPEUTICS INC | MPLT | 56565P103 | $10.0M | 6.28% | 492,893 | SH |
| 6 | TENAX THERAPEUTICS INC | TENX | 88032L605 | $9.3M | 5.84% | 583,333 | SH |
| 7 | ABIVAX SA | ABVX | 00370M103 | $8.6M | 5.37% | 77,000 | SH |
| 8 | HERON THERAPEUTICS INC | HRTX | 427746102 | $7.0M | 4.39% | 8,753,290 | SH |
| 9 | IMMIX BIOPHARMA INC | IMMX | 45258H106 | $6.7M | 4.22% | 740,000 | SH |
| 10 | ESPERION THERAPEUTICS INC NE | ESPR | 29664W105 | $4.7M | 2.95% | 1,720,000 | SH |
| 11 | EDESA BIOTECH INC | EDSA | 27966L306 | $4.3M | 2.71% | 827,500 | SH |
| 12 | ANTERIS TECHNOLOGIES GLOBAL | AVR | 03675P102 | $3.9M | 2.43% | 700,000 | SH |
| 13 | INSPIREMD INC | NSPR | 45779A846 | $3.4M | 2.14% | 2,099,652 | SH |
| 14 | XENCOR INC | XNCR | 98401F105 | $3.0M | 1.89% | 250,000 | SH |
| 15 | AVALO THERAPEUTICS INC | AVTX | 05338F306 | $2.8M | 1.73% | 185,122 | SH |
| 16 | EUPRAXIA PHARMACEUTICALS INC | EPRX | 29842P105 | $2.5M | 1.60% | 352,000 | SH |
| 17 | CYTOMX THERAPEUTICS INC. | CTMX | 23284F105 | $2.5M | 1.59% | 540,000 | SH |
| 18 | VERRICA PHARMACEUTICALS INC | VRCA | 92511W207 | $2.5M | 1.56% | 471,559 | SH |
| 19 | REZOLUTE INC | RZLT | 76200L309 | $2.3M | 1.43% | 750,000 | SH |
| 20 | JASPER THERAPEUTICS INC | JSPR | 471871202 | $2.1M | 1.33% | 2,423,067 | SH |
| 21 | LYELL IMMUNOPHARMA INC | LYEL | 55083R203 | $2.0M | 1.28% | 102,000 | SH |
| 22 | PROFOUND MED CORP | PROF | 74319B502 | $1.9M | 1.16% | 285,710 | SH |
| 23 | VIRIDIAN THERAPEUTICS INC | VRDN | 92790C104 | $1.8M | 1.12% | 91,123 | SH |
| 24 | ROCKET PHARMACEUTICALS INC | RCKT | 77313F106 | $1.1M | 0.66% | 294,643 | SH |
| 25 | KAZIA THERAPEUTICS LTD | KZIA | 48669G303 | $1.0M | 0.63% | 135,315 | SH |
| 26 | NASUS PHARMA LTD | NSRX | M7071P109 | $797.8K | 0.50% | 359,390 | SH |
| 27 | QUOIN PHARMACEUTICALS LTD | QNRX | 74907L409 | $560.0K | 0.35% | 84,849 | SH |
| 28 | ARROWHEAD PHARMACEUTICALS IN | ARWR | 04280A100 | $407.6K | 0.26% | 6,500 | SH |
| 29 | PROTAGONIST THERAPEUTICS INC | PTGX | 74366E102 | $390.0K | 0.24% | 3,700 | SH |
| 30 | OVID THERAPEUTICS INC | OVID | 690469101 | $355.2K | 0.22% | 160,000 | SH |
| 31 | MINERALYS THERAPEUTICS INC | MLYS | 603170101 | $298.0K | 0.19% | 11,000 | SH |
| 32 | CONTEXT THERAPEUTICS INC | CNTX | 21077P108 | $262.0K | 0.16% | 100,000 | SH |
| 33 | NURIX THERAPEUTICS INC | NRIX | 67080M103 | $248.0K | 0.16% | 16,000 | SH |
| 34 | CORBUS PHARMACEUTICALS HLDGS | CRBP | 21833P301 | $244.1K | 0.15% | 26,000 | SH |
| 35 | SYNDAX PHARMACEUTICALS INC | SNDX | 87164F105 | $233.6K | 0.15% | 10,000 | SH |
| 36 | PRECISION BIOSCIENCES INC | DTIL | 74019P207 | $220.0K | 0.14% | 40,000 | SH |
| 37 | IMMUNOME INC | IMNM | 45257U108 | $218.7K | 0.14% | 10,000 | SH |
| 38 | JASPER THERAPEUTICS INC | JSPR | 471871202 | $215.0K | 0.13% | 245,328 | SH |
| 39 | DESIGN THERAPEUTICS INC | DSGN | 25056L103 | $212.8K | 0.13% | 20,000 | SH |
| 40 | ARTIVA BIOTHERAPEUTICS INC | ARTV | 04317A107 | $161.0K | 0.10% | 25,000 | SH |
| 41 | NEUMORA THERAPEUTICS INC. | NMRA | 640979100 | $156.0K | 0.10% | 80,000 | SH |
| 42 | REPLIMUNE GROUP INC | REPL | 76029N106 | $153.0K | 0.10% | 20,000 | SH |
| 43 | LARIMAR THERAPEUTICS INC | LRMR | 517125100 | $148.5K | 0.09% | 33,000 | SH |
| 44 | XILIO THERAPEUTICS INC | XLO | 98422T209 | $120.1K | 0.08% | 14,285 | SH |
| 45 | KALARIS THERAPEUTICS INC | KLRS | 482929106 | $103.9K | 0.07% | 18,000 | SH |
| 46 | PMV PHARMACEUTICALS INC | PMVP | 69353Y103 | $90.5K | 0.06% | 73,000 | SH |
| 47 | MACROGENICS INC | MGNX | 556099109 | $86.7K | 0.05% | 30,000 | SH |
| 48 | KARYOPHARM THERAPEUTICS INC | KPTI | 48576U205 | $83.5K | 0.05% | 15,000 | SH |
| 49 | PROQR THRAPEUTICS N V | PRQR | N71542109 | $72.9K | 0.05% | 45,000 | SH |
| 50 | GOSSAMER BIO INC | GOSS | 38341P102 | $23.0K | 0.01% | 70,000 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-03-31 | 2026-05-15 | $159.6M | 50 | 0001848809-26-000002 |
| 2025-12-31 | 2026-02-13 | $172.4M | 48 | 0001848809-26-000001 |
| 2025-09-30 | 2025-11-14 | $106.5M | 51 | 0001848809-25-000008 |