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Investing.com -- Vor Biopharma Inc (NASDAQ:VOR) stock surged 85% after the company announced an exclusive licensing agreement with China’s RemeGen Co., Ltd. for telitacicept, a novel dual-target fusion protein for autoimmune diseases.
The deal grants Vor Bio global rights to develop and commercialize telitacicept outside of China, Hong Kong, Macau, and Taiwan. Under the agreement terms, Vor Bio will pay RemeGen an initial $125 million, consisting of a $45 million upfront payment and $80 million in warrants to purchase common stock. The agreement also includes potential regulatory and commercial milestones exceeding $4 billion, plus tiered royalties.
Telitacicept is already approved in China for generalized myasthenia gravis, systemic lupus erythematosus, and rheumatoid arthritis. The therapy works by targeting BlyS and APRIL, cytokines critical to B cell survival, thereby reducing autoreactive B cells and autoantibody production. RemeGen is currently conducting a global Phase 3 clinical trial with initial results expected in the first half of 2027.
Alongside the licensing announcement, Vor Bio revealed a leadership change, appointing Jean-Paul Kress, M.D., as Chief Executive Officer and Chairman of the Board, effective immediately. He replaces Robert Ang, who resigned but will remain as a strategic advisor through October 2025.
"I am absolutely thrilled to be leading Vor Bio as we transform the company to become a major player in autoimmune disease treatment," said Dr. Kress. "Targeting BAFF/APRIL signaling with telitacicept represents a significant advancement in addressing autoantibody driven diseases, which is highly differentiated from other modalities in this space."
Dr. Kress previously served as CEO of MorphoSys, where he led the development and commercialization of Monjuvi and guided the company through its acquisition by Novartis (SIX:NOVN) in 2024.
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