Ciraparantag Drug Asset Due Diligence Report 2026

This Ciraparantag Drug Asset Due Diligence Report was built with PatSnap Life Sciences MCP workflows. Drug & Asset MCP establishes identity, ownership and stage; Clinical Trials MCP checks design, endpoints and readouts; Company & Deal Intelligence MCP reconstructs transaction precedent. Explore the MCP servers used in this report.

Decision date: 18 September 2026. Currency fields are presented in US$ millions as returned by the deal dataset. This is a screening memorandum, not legal, medical, patent or investment advice.

Phase 2

Highest phase

Registered trials

Result records

Matched deals

Executive recommendation: CONDITIONAL GO

Decision memo

Advance with milestone-based economics while efficacy durability, safety differentiation, patent scope, and market positioning are validated.

The central underwriting question is whether Ciraparantag can convert its Small molecule drug profile and factor Xa biology into clinically meaningful differentiation while preserving an investable safety, IP and commercial position.

1. Asset identity and development status

Asset	Ciraparantag (query alias: Ciraparantag)
Modality / target	Small molecule drug; factor Xa; factor Xa inhibitors
Highest global status	Phase 2
Originator	Perosphere, Inc.
Active developers	AMAG Pharmaceuticals, Inc., Perosphere, Inc.

The MCP disease footprint includes Hemorrhagic Disorders. The highest-phase flag is a useful orientation point, but the licensing case depends on indication-level evidence and rights, not the global label alone.

2. Clinical program: design and endpoint audit

Registry	Phase	Status	Enrollment	Lead primary endpoint
ISRCTN28849775	Phase 1	Stopped	126	Primary endpoint not disclosed in English source
NCT04593784	Phase 2	Terminated	41	Primary endpoint not disclosed in English source
NCT03288454	Phase 2	Completed	60	Primary endpoint not disclosed in English source

The trial set should be diligenced for randomization, comparator relevance, endpoint hierarchy, analysis population, multiplicity, geographic mix and readout timing. For early-stage studies, safety and dose selection can be as decision-critical as response rate.

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3. Clinical readouts: what is known

A Phase 2 Randomized, Double-blind, Placebo-Controlled Study to Assess the Efficacy and Safety of Ciraparantag for Reversal of Anticoagulation in Healthy Adults

Phase 2; n=41; evaluation: Not stated in English source. Reported fields: Subjects Achieving WBCT ≤120% of Baseline = 0 Pts ; Subjects Achieving WBCT ≤120% of Baseline = 1 Pts

Phase 2 Placebo-Controlled, Single-Site, Single-Blind Study of Rivaroxaban Reversal by Ciraparantag as Measured by WBCT

Phase 2; n=69; evaluation: Not stated in English source. Reported fields: Subjects Achieving Complete Reversal of Anticoagulation (WBCT is ≤ 110% of Baseline) = 3 Pts

Phase 2 Placebo-Controlled, Single-Site, Single-Blind Study of Apixaban Reversal by Ciraparantag as Measured by WBCT

Phase 2; n=60; evaluation: Not stated in English source. Reported fields: Subjects Achieving Complete Reversal of Anticoagulation (WBCT is ≤ 110% of Baseline) = 2 Pts

These fields are structured evidence signals, not a substitute for statistical review. The next diligence pass should reconcile denominators, confidence intervals, follow-up, censoring, dose cohorts and treatment-emergent toxicity against the original abstract, registry and protocol.

4. Market and competitive position

Ciraparantag addresses Hemorrhagic Disorders. Commercial attractiveness rests on addressable patients, treatment-line placement, duration, administration burden, pricing and displacement of entrenched standards. The modality—Small molecule drug—must demonstrate a benefit large enough to offset class-specific safety and operational costs.

The MCP screen returned 1 matched transaction record(s) under the scope “asset-specific.” Partner activity is a market-validation signal, but it does not establish net present value.

5. Transaction precedent and economics

Date	Transaction	Phase at deal	Disclosed economics
2020-07-23	AMAG Pharma inks deal with Dutch drugmaker Norgine to develop bleeding medicine	Phase 2	US$30.0M upfront; US$260.0M milestones; US$290.0M stated total

Headline values are not directly comparable. Diligence should normalize upfront cash, equity, development and sales milestones, tiered royalties, opt-in mechanics, cost sharing, change-of-control clauses and geography.

6. IP and freedom-to-operate screen

The milestone feed surfaced a patent-application signal described as “Labeled compounds and methods of imaging, diagnosing cartilage disorders and diseases, and monitoring cartilage health using labeled and unlabeled compounds”. The milestone feed surfaced a patent-application signal described as “Stable glucagon formulations”. The milestone feed surfaced a patent-application signal described as “Anticoagulant reversal agents”.

The claim chart should separately test composition or sequence coverage, formulation and dosing, indication and biomarker claims, combinations, manufacturing know-how, prosecution history, term extensions and third-party blocking rights.

7. Principal risks and diligence gates

Therapeutic index and off-target toxicity
Resistance biology and biomarker-defined patient selection
Differentiation from established and emerging standards

Cross-functional diligence should also test CMC comparability, supply chain, pharmacovigilance, regulatory correspondence, data integrity, investigator concentration, partner obligations and change-of-control restrictions.

8. Final go/no-go memorandum

CONDITIONAL GO