VarmX, a biotechnology company based at the Leiden Bio Science Park (LBSP), has entered into a strategic collaboration and option agreement with global biotechnology leader CSL Limited (ASX:CSL) to advance its lead asset, VMX-C001. The investigational therapy is designed to restore blood coagulation in patients on Factor Xa (FXa) inhibitors who require urgent surgery or experience severe bleeding.
Under the agreement, CSL will fully fund VarmX’s global Phase 3 EquilibriX-S trial, covering late-stage product development, manufacturing, and pre-launch activities. VarmX shareholders receive an upfront payment of USD 117 million for an exclusive option for CSL to acquire the company, contingent on Phase 3 results. Following milestones and commercial launch, shareholders could receive up to USD 2.1 billion in total potential payments, including acquisition, development, and sales-based success milestones.
VMX-C001 is a recombinant modified Factor X protein that bypasses FXa anticoagulant activity, swiftly restoring coagulation in emergency situations. It is compatible with all FXa DOACs and other anticoagulants like heparin, with no additional thrombotic risk. Currently, no fully approved therapies exist in the EU or U.S. for treating acute major bleeding in patients on FXa inhibitors. VMX-C001 recently received FDA Fast Track Designation, underscoring its life-saving potential.
Founded in 2016 as a spin-off from the Leiden University Medical Center (LUMC), VarmX exemplifies innovation emerging from LBSP, a leading life sciences cluster in the Netherlands. The park fosters collaboration between research institutes, start-ups, and international pharmaceutical companies, enabling companies like VarmX to translate science into global impact.
“This collaboration represents a transformative step for VarmX,” said John Glasspool, CEO of VarmX. “With full funding and CSL’s expertise, we are poised to bring VMX-C001 to patients worldwide. This partnership not only has the potential to change urgent care for thousands of patients but also demonstrates the global reach and investment potential of LBSP-based innovation.”
With a potential total deal value of USD 2.1 billion, VarmX’s journey highlights how groundbreaking therapies can emerge from the Netherlands and reach patients on a global scale. Commercial launch of VMX-C001 is anticipated in 2029
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