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3d ago

CSL Pays $117 Million for VarmX Buyout Option, Funding Phase 3 of Clotting Drug

The move follows a restructuring that refocuses spending on deals to strengthen CSL’s bleeding-disorder portfolio.

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The Phase III EquilibriX-S study will test the therapy in those on FXa DOACs. Credit: Gorodenkoff / Shutterstock.com.
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Overview

  • CSL secured an exclusive option to acquire Netherlands-based VarmX after reviewing Phase 3 results for VMX-C001.
  • VMX-C001 is intended to reverse the effects of Factor Xa blood thinners such as Eliquis and Xarelto for patients who need rapid restoration of clotting.
  • CSL will fully fund the Phase 3 trial as well as manufacturing and other pre-launch activities for the program.
  • If the option is exercised and regulatory milestones are met, VarmX could receive up to $388 million through a potential 2029 launch.
  • VarmX shareholders may earn as much as $1.7 billion in additional commercial milestones tied to sales if the drug reaches the market.