# EDGAR Filing Document

**Accession Number:** 0001848809
**File Stem:** 0001848809-25-000007
**Filing Date:** 2025-8
**Character Count:** 29141
**Document Hash:** 02d8254a8b076e8829f4f5d3860f1341
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001848809-25-000007.hdr.sgml**: 20250829

**ACCESSION NUMBER**: 0001848809-25-000007

**CONFORMED SUBMISSION TYPE**: N-PX

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250829

**EFFECTIVENESS DATE**: 20250829

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Velan Capital Investment Management LP
- **CENTRAL INDEX KEY:** 0001848809

**ORGANIZATION NAME:**
- **EIN:** 844706623
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-PX
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-21996
- **FILM NUMBER:** 251277657

**BUSINESS ADDRESS:**
- **STREET 1:** 100 NORTH MAIN STREET
- **STREET 2:** SUITE 301
- **CITY:** ALPHARETTA
- **STATE:** GA
- **ZIP:** 30009
- **BUSINESS PHONE:** 646-844-0037

**MAIL ADDRESS:**
- **STREET 1:** 100 NORTH MAIN STREET
- **STREET 2:** SUITE 301
- **CITY:** ALPHARETTA
- **STATE:** GA
- **ZIP:** 30009

## FORM N-PX
### ANNUAL REPORT OF PROXY VOTING RECORD

## N-PX: Filer Information

**Filer CIK:** 0001848809

**Date of Report:** 06/30/2025

**Are you a Registered Management Investment Company or an Institutional Manager?:** Institutional Manager

**Is this a LIVE or TEST Filing?:** LIVE

**Is this an electronic copy of an official filing submitted in paper format?:** [ ]

### Submission Contact Information
_Not provided in this filing._

### Notification Information
**Notify via Filing Website only?:** [ ]

## N-PX: Cover Page

**Name of reporting person:** Velan Capital Investment Management LP

**Address:** 100 North Main Street, Alpharetta, GA 30009

**Telephone number:** 646-844-0030

**Name of agent for service:** —

**Agent Address:** —, —, — —

**Reporting Period:** Report for the year ended 06/30/2025

**SEC File Number:** 028-21996

**CRD Number (if any):** —

**Other SEC File Number (if any):** —

**LEI (if any):** 254900O0LNRRSI92C739

**Report Type (check only one):**

Institutional Manager.

- [x] Institutional Manager Voting Report

- [ ] Institutional Manager Notice Report

- [ ] Institutional Manager Combination Report

Registered Management Investment Company.

- [ ] Fund Voting Report

- [ ] Fund Notice Report

**Do you wish to provide explanatory information pursuant to Special Instruction B.4?:**

- [x] No

- [ ] Yes

**Additional information:** —

## N-PX: Summary - Included Managers

**Number of Included Institutional Managers:** 0

**Included Institutional Managers:** —

## FORM N-PX PROXY VOTING RECORD

| NAME OF ISSUER                        | CUSIP     | MEETING DATE   | VOTE DESCRIPTION                                                                                                                                                                                                                                                                                                            | VOTE CATEGORY                |     SHARES VOTED |   SHARES ON LOAN | HOW VOTED   |   SHARES VOTED FOR OR AGAINST MANAGEMENT | FOR OR AGAINST MANAGEMENT   | OTHER INFO   |
|:---|:---|:---|:---|:---|---:|---:|:---|---:|:---|:---|
| Alimera Sciences, Inc.                | 016259202 | 09/04/2024     | To approve, by non-binding, advisory vote, the compensation that will or may be paid or become payable to our named executive officers that is based on or otherwise relates to the Merger.                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |      1.36085e+07 |                0 | FOR         |                              1.36085e+07 | FOR                         |  |
| Rezolute, Inc.                        | 76200L309 | 12/05/2024     | To approve, by a non-binding advisory vote, the compensation of the Company's named executive officers as disclosed in the Executive Compensation section of the Proxy Statement.                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES | 400000           |                0 | FOR         |                         400000           | FOR                         |  |
| Arrowhead Pharmaceuticals, Inc.       | 04280A100 | 03/12/2025     | Advisory Vote to Approve Executive Compensation.                                                                                                                                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |   6000           |                0 | FOR         |                           6000           | FOR                         |  |
| Arrowhead Pharmaceuticals, Inc.       | 04280A100 | 03/12/2025     | Advisory Vote on Frequency of Executive Compensation Advisory Votes.                                                                                                                                                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES |   6000           |                0 | ONE YEAR    |                           6000           | FOR                         |  |
| Enanta Pharmaceuticals, Inc.          | 29251M106 | 03/13/2025     | To approve, on an advisory basis, the frequency of holding an advisory vote on the compensation paid to our named executive officers.                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |  14481           |                0 | ONE YEAR    |                          14481           | FOR                         |  |
| Enanta Pharmaceuticals, Inc.          | 29251M106 | 03/13/2025     | To approve, on an advisory basis, the compensation paid to our named executive officers, as disclosed in the proxy statement.                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |  14481           |                0 | FOR         |                          14481           | FOR                         |  |
| Verona Pharma Plc                     | 925050106 | 04/24/2025     | To approve, on an advisory (non-binding) basis, the compensation of the Company's named executive officers.                                                                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |  95000           |                0 | AGAINST     |                          95000           | AGAINST                     |  |
| Larimar Therapeutics, Inc.            | 517125100 | 05/13/2025     | Approval, on an Advisory Basis, of the Compensation of our Named Executive Officers in 2024                                                                                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |  24330           |                0 | FOR         |                          24330           | FOR                         |  |
| SpringWorks Therapeutics, Inc.        | 85205L107 | 05/14/2025     | Non-binding advisory vote on executive compensation                                                                                                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |   2711           |                0 | FOR         |                           2711           | FOR                         |  |
| Corbus Pharmaceuticals Holdings, Inc. | 21833P301 | 05/15/2025     | Approval, on an advisory basis, of the executive compensation of the Company's named executive officers.                                                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |   9000           |                0 | FOR         |                           9000           | FOR                         |  |
| Nurix Therapeutics, Inc.              | 67080M103 | 05/19/2025     | To approve, a non-binding advisory basis, the compensation of the Company's named executive officers as disclosed in the Proxy Statement.                                                                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |   8000           |                0 | FOR         |                           8000           | FOR                         |  |
| Geron Corporation                     | 374163103 | 05/21/2025     | To approve, on an advisory basis, the compensation of our Named Executive Officers, as disclosed in our Proxy Statement.                                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |  60000           |                0 | AGAINST     |                          60000           | AGAINST                     |  |
| Rigel Pharmaceuticals, Inc.           | 766559702 | 05/22/2025     | To approve, on an advisory basis, the compensation of the Company's named executive officers, as disclosed in the accompanying proxy statement.                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |   4500           |                0 | FOR         |                           4500           | FOR                         |  |
| SCHOLAR ROCK HOLDING CORPORATION      | 80706P103 | 05/22/2025     | To approve, on a non-binding, advisory basis, the compensation of the Company's named executive officers.                                                                                                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |   2500           |                0 | FOR         |                           2500           | FOR                         |  |
| Karyopharm Therapeutics Inc.          | 48576U205 | 05/28/2025     | To approve, on an advisory basis, the compensation of our named executive officers, as described in the proxy statement.                                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |   5000           |                0 | FOR         |                           5000           | FOR                         |  |
| Karyopharm Therapeutics Inc.          | 48576U205 | 05/28/2025     | To recommend, on an advisory basis, the frequency of future non-binding advisory votes on the compensation of our named executive officers.                                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |   5000           |                0 | ONE YEAR    |                           5000           | FOR                         |  |
| Perspective Therapeutics, Inc.        | 46489V302 | 05/28/2025     | To consider and vote on a proposal to approve, on a non-binding advisory basis, the compensation of the Company's named executive officers as disclosed in the Proxy Statement.                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES | 500000           |                0 | FOR         |                         500000           | FOR                         |  |
| TELA Bio, Inc.                        | 872381108 | 05/28/2025     | To approve, on a non-binding, advisory basis, the compensation of the Company's named executive officers.                                                                                                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES | 747410           |                0 | AGAINST     |                         747410           | AGAINST                     |  |
| TELA Bio, Inc.                        | 872381108 | 05/28/2025     | To approve, on a non-binding, advisory basis, the preferred frequency of future advisory votes on the compensation of the Company's named executive officers.                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES | 747410           |                0 | ONE YEAR    |                         747410           | FOR                         |  |
| Kiora Pharmaceuticals, Inc.           | 49721T507 | 06/04/2025     | To approve, on a non-binding advisory basis, the compensation of our named executive officers as disclosed in the proxy statement.                                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES | 122223           |                0 | FOR         |                         122223           | FOR                         |  |
| Ventyx Biosciences, Inc.              | 92332V107 | 06/04/2025     | To approve, on an advisory basis, the compensation of the named executive officers identified in the 2024 Summary Compensation Table in the "Executive Compensation" section of the proxy statement (the "Say-on-Pay Vote").                                                                                                | SECTION 14A SAY-ON-PAY VOTES |  40000           |                0 | FOR         |                          40000           | FOR                         |  |
| Aclaris Therapeutics, Inc.            | 00461U105 | 06/05/2025     | To approve, on an advisory basis, the compensation of our named executive officers, as disclosed in the proxy statement accompanying this proxy card.                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |  32700           |                0 | FOR         |                          32700           | FOR                         |  |
| PMV Pharmaceuticals, Inc.             | 69353Y103 | 06/05/2025     | Approval, on a non-binding advisory basis, of the compensation of our named executive officers.                                                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |  35000           |                0 | FOR         |                          35000           | FOR                         |  |
| Sarepta Therapeutics, Inc.            | 803607100 | 06/05/2025     | ADVISORY VOTE TO APPROVE, ON A NON-BINDING BASIS, NAMED EXECUTIVE OFFICER COMPENSATION                                                                                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |   1200           |                0 | FOR         |                           1200           | FOR                         |  |
| Arcturus Therapeutics Holdings Inc.   | 03969T109 | 06/06/2025     | Approval, by non-binding advisory vote, of the resolution approving the Company's Named Executive Officer compensation, as provided in Proposal Number 2 of the Proxy Statement.                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |   6000           |                0 | FOR         |                           6000           | FOR                         |  |
| Sutro Biopharma, Inc.                 | 869367102 | 06/06/2025     | To approve, on a non-binding, advisory basis, the compensation of our named executive officers.                                                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |      1.03e+06    |                0 | FOR         |                              1.03e+06    | FOR                         |  |
| Alector, Inc.                         | 014442107 | 06/11/2025     | Advisory vote on executive compensation.                                                                                                                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |  49970           |                0 | FOR         |                          49970           | FOR                         |  |
| CytomX Therapeutics, Inc.             | 23284F105 | 06/11/2025     | To approve, on a nonbinding advisory basis, the compensation of the Company's named executive officers as disclosed in the Proxy Statement accompanying this Notice of Annual Meeting of Stockholders; and                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES |  75000           |                0 | FOR         |                          75000           | FOR                         |  |
| Disc Medicine, Inc.                   | 254604101 | 06/11/2025     | To approve, on a non-binding, advisory basis, the compensation paid to the Company's named executive officers.                                                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |   1600           |                0 | FOR         |                           1600           | FOR                         |  |
| Disc Medicine, Inc.                   | 254604101 | 06/11/2025     | To recommend, by a non-binding advisory vote, the frequency of future advisory votes on the compensation paid to the Company's named executive officers.                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |   1600           |                0 | ONE YEAR    |                           1600           | FOR                         |  |
| Korro Bio, Inc.                       | 500946108 | 06/11/2025     | Non-Binding Advisory Vote to Approve the Compensation of our Named Executive Officers;                                                                                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |   5000           |                0 | FOR         |                           5000           | FOR                         |  |
| Korro Bio, Inc.                       | 500946108 | 06/11/2025     | Non-Binding Advisory Vote on the Frequency of Future Non-Binding Advisory Votes to Approve the Compensation of our Named Executive Officers                                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |   5000           |                0 | ONE YEAR    |                           5000           | FOR                         |  |
| PROTARA THERAPEUTICS, INC.            | 74365U107 | 06/11/2025     | Approval, on an advisory basis, of the compensation of Protara Therapeutics, Inc.'s named executive officers, as disclosed in the proxy statement                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES | 480000           |                0 | FOR         |                         480000           | FOR                         |  |
| Protara Therapeutics, Inc.            | 74365U107 | 06/11/2025     | Approval, on an advisory basis, of the compensation of Protara Therapeutics, Inc.'s named executive officers, as disclosed in the proxy statement                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |      1.0221e+06  |                0 | FOR         |                              1.0221e+06  | FOR                         |  |
| TENAX THERAPEUTICS, INC.              | 88032L605 | 06/11/2025     | Approval, on an advisory basis, of Tenax Therapeutics, Inc.'s 2024 named executive officer compensation.                                                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |  83333           |                0 | FOR         |                          83333           | FOR                         |  |
| TENAX THERAPEUTICS, INC.              | 88032L605 | 06/11/2025     | Approval, on an advisory basis, on the frequency of future advisory votes on named executive officer compensation.                                                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |  83333           |                0 | 2.0         |                          83333           | FOR                         |  |
| Heron Therapeutics, Inc.              | 427746102 | 06/12/2025     | To approve, on a nonbinding advisory basis, compensation paid to our Named Executive Officers for the fiscal year ended December 31, 2024.                                                                                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES |      6.98574e+06 |                0 | FOR         |                              6.98574e+06 | FOR                         |  |
| Heron Therapeutics, Inc.              | 427746102 | 06/12/2025     | To approve, on a nonbinding advisory basis, the frequency of future advisory votes on the compensation paid to our Named Executive Officers.                                                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES |      6.98574e+06 |                0 | ONE YEAR    |                              6.98574e+06 | FOR                         |  |
| 4D Molecular Therapeutics, Inc.       | 35104E100 | 06/17/2025     | Approval, on an advisory, non-binding basis, of the compensation of the Company's named executive officers ("say-on-pay vote").                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |  12000           |                0 | FOR         |                          12000           | FOR                         |  |
| 4D Molecular Therapeutics, Inc.       | 35104E100 | 06/17/2025     | Approval, on an advisory, non-binding basis, of the frequency of future advisory say-on-pay votes.                                                                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |  12000           |                0 | ONE YEAR    |                          12000           | FOR                         |  |
| Avalo Therapeutics, Inc.              | 05338F306 | 06/17/2025     | To approve, on a nonbinding advisory basis, a "Say-on-Pay" resolution regarding the compensation of our named executive officers;                                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |  12000           |                0 | FOR         |                          12000           | FOR                         |  |
| Liquidia Corporation                  | 53635D202 | 06/17/2025     | To approve, on an advisory basis, the compensation of our named executive officers.                                                                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES | 200000           |                0 | FOR         |                         200000           | FOR                         |  |
| NextCure, Inc.                        | 65343E207 | 06/20/2025     | Approval, on an advisory basis, of the compensation paid by Company to its named executive officers.                                                                                                                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES |  45000           |                0 | FOR         |                          45000           | FOR                         |  |
| NextCure, Inc.                        | 65343E207 | 06/20/2025     | Approval, on an advisory basis, of whether a vote on the compensation of our named executive officers should take place every one year, every two years or every three years.                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |  45000           |                0 | ONE YEAR    |                          45000           | FOR                         |  |
| Protagonist Therapeutics, Inc.        | 74366E102 | 06/20/2025     | To approve, on a non-binding, advisory basis, the compensation of the Company's named executive officers.                                                                                                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |   3700           |                0 | FOR         |                           3700           | FOR                         |  |
| Gossamer Bio, Inc.                    | 38341P102 | 06/25/2025     | Approval, on an advisory basis, of the compensation of the Company's named executive officers as disclosed in the proxy statement.                                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |  74942           |                0 | FOR         |                          74942           | FOR                         |  |
| Praxis Precision Medicines, Inc.      | 74006W207 | 06/26/2025     | To approve, on an advisory (non-binding) basis, the compensation of the named executive officers as disclosed in the Company's proxy statement for the 2025 Annual Meeting of Stockholders pursuant to the applicable compensation disclosure rules of the SEC, including the compensation tables and narrative discussion. | SECTION 14A SAY-ON-PAY VOTES |  35666           |                0 | AGAINST     |                          35666           | AGAINST                     |  |

## N-PX: Signature Block

**Reporting Person:** Velan Capital Investment Management LP

**By (Signature):** Alyssa Romano

**By (Printed Signature):** Alyssa Romano

**By (Title):** Chief Financial Officer

**Date:** 08/29/2025