PureTech Health plc announced that its founding entity, Vor Bio, has entered an exclusive license agreement with RemeGen Co. to develop and commercialize Telitacicept outside of China, Hong Kong, Macau, and Taiwan. Telitacicept is a dual-target fusion protein already approved in China for generalized myasthenia gravis, systemic lupus erythematosus, and rheumatoid arthritis. Vor Bio will pay RemeGen an initial $125 million, which includes a $45 million upfront payment and $80 million in stock warrants. The agreement also includes potential regulatory and commercial milestone payments exceeding $4 billion, along with tiered royalties on future sales.
In a separate announcement, Vor Bio revealed a $175 million private placement in public equity financing (PIPE). The company will issue prefunded warrants to acquire 700 million shares of common stock at $0.25 per warrant. These warrants carry an exercise price of $0.0001 per share and will become exercisable following stockholder approval. The proceeds will be used to advance Vor Bio’s clinical programs and support general corporate operations. The PIPE is expected to close on June 27, 2025, subject to customary conditions. As of May 8, 2025, PureTech holds approximately 2.1% beneficial ownership in Vor Bio, based on SEC reporting standards.
