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Highlights

  • Vor Bio enters global licensing deal with RemeGen for telitacicept valued at USD125 million upfront.
  • PIPE financing expected to generate USD175 million in gross proceeds before expenses.
  • PureTech holds approximately 2.1% stake in Vor Bio as of May 8, 2025.

PureTech Health plc (Nasdaq: PRTC, LSE: PRTC) announced updates related to its Founded Entity, Vor Bio (Nasdaq: VOR), following two major financial transactions. Vor Bio has entered an exclusive global license agreement with RemeGen Co., Ltd. (HKEX: 9995, SHA: 688331), excluding China, Hong Kong, Macau, and Taiwan, to develop and commercialize telitacicept—a dual-target fusion protein approved in China for autoimmune diseases including generalized myasthenia gravis (gMG), systemic lupus erythematosus (SLE), and rheumatoid arthritis (RA).

Under the terms of the deal, Vor Bio will make an initial payment of USD125 million to RemeGen, consisting of a USD45 million cash upfront and USD80 million in stock warrants exercisable at USD0.0001 per share. The agreement also includes milestone payments potentially exceeding USD4 billion and tiered royalties based on future product sales.

Separately, Vor Bio announced a private placement in public equity (PIPE) financing agreement expected to generate approximately USD175 million in gross proceeds. As part of the PIPE, the company will issue prefunded warrants to acquire 700 million shares of common stock at USD 0.25 per warrant. These warrants, with an exercise price of USD0.0001 per share, will become exercisable pending shareholder approval at an upcoming special meeting.

Vor Bio stated that net proceeds from the PIPE will be directed toward advancing its clinical-stage pipeline and general corporate operations. The financing is expected to close on June 27, 2025, subject to standard closing conditions.

As of May 8, 2025, PureTech Health holds an approximate 2.1% beneficial ownership in Vor Bio, in accordance with SEC reporting rules. These recent developments are anticipated to impact PureTech’s portfolio performance as Vor Bio progresses its autoimmune disease programs with new capital and expanded rights to telitacicept.