CSL will invest up to $760 million in Dutch biotech VarmX, marking the healthcare giant’s first major investment since it announced 3000 job cuts and plans to scale back its global research and development network.

CSL, which makes products from vaccines to therapies derived from blood plasma, said it had agreed to an initial upfront payment of $US117 million ($175 million) to fund VarmX’s phase three clinical trial under a deal that gives it an exclusive option to buy the private company. VarmX is developing a new bleeding disorder treatment. Loading...

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