PureTech Heath (Nasdaq: PRTC) founded clinical-stage biotech Vor Bio (Nasdaq: VOR) has entered into an exclusive license agreement with RemeGen (HKEX: 9995) to develop and commercialize telitacicept, a novel dual-target fusion protein approved in China for generalized myasthenia gravis (gMG), systemic lupus erythematosus (SLE), and rheumatoid arthritis (RA).
A global Phase III clinical trial in gMG is currently underway across the USA, Europe, and South America to support potential approval in the USA and Europe.
In return, Vor Bio will pay RemeGen an initial payment of $125 million consisting of an upfront payment of $45 million as well as $80 million of warrants to purchase common stock with an exercise price of $0.0001 per share. The agreement also provides for potential regulatory and commercial milestones exceeding $4 billion, in addition to tiered royalties.
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