Cadrenal Therapeutics Acquires Phase 2 Asset VLX-1005 from Veralox Therapeutics

Cadrenal Therapeutics has acquired VLX-1005 and related 12-lipoxygenase (12-LOX) assets from Veralox Therapeutics. This acquisition provides Cadrenal with a late-stage, first-in-class drug candidate for heparin-induced thrombocytopenia (HIT), a market estimated to be around $1 billion in the US and EU. The terms of the deal include upfront and milestone payments, as well as royalties on future global sales.