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CAMBRIDGE, Mass. - Vor Bio (NASDAQ:VOR) has entered into an exclusive license agreement with RemeGen Co., Ltd. (HKEX:9995, SHA:688331) for global rights to telitacicept, a dual-target fusion protein approved in China for multiple autoimmune conditions, according to a press release statement.
The agreement grants Vor Bio rights to develop and commercialize telitacicept outside China, Hong Kong, Macau and Taiwan. Under the terms, Vor Bio will pay RemeGen an initial $125 million, consisting of a $45 million upfront payment plus $80 million in warrants. The deal includes potential regulatory and commercial milestones exceeding $4 billion, plus tiered royalties.
Telitacicept is currently in global Phase 3 development for generalized myasthenia gravis, with initial results expected in the first half of 2027. The drug is already approved in China for systemic lupus erythematosus, rheumatoid arthritis, and generalized myasthenia gravis.
Separately, Vor Bio announced a $175 million private placement financing through the issuance of prefunded warrants to purchase 700 million shares at $0.25 per warrant. The PIPE financing is expected to close on June 27, 2025, subject to customary closing conditions.
The company also appointed Jean-Paul Kress, M.D., as Chief Executive Officer and Chairman of the Board, replacing Robert Ang, who will remain as a strategic advisor through October 2025.
PureTech Health plc (NASDAQ:PRTC, LSE:PRTC), which founded Vor Bio, currently holds approximately 2.1% ownership in the company as of May 8, 2025.
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