VIII is not an obligate component of the coagulation cascade, eg, it can be bypassed (thus FEIBA: Factor Eight Inhibitor Bypassing Activity).
On the other hand thrombin (IIa) is absolutely necessary for coagulation, as is Xa.
Think of it like a tree with coagulation initiators at the top and the coagulation event at the base of the trunk. Inhibiting VIII is like cutting off one of the branches; inhibiting IIa is like cutting down the entire tree.
>If you wanted to promote anticoagulation, you might think of partially inhibiting FVIII.<
This is exactly what BioInvent and ThromboGenics are trying to do with TB-402, but it’s a novel—and high-risk—approach. It’s tantamount to inducing a mild, artificial state of hemophilia-A while hoping to avert the major-bleeding events typical of more severe manifestations of the disorder.