Vor Bio back from brink with autoimmune drug deal rising to $4bn
A month and a half after winding operations and laying off almost all its staff, Vor Bio has emerged from the brink with a licensing deal potentially rising to $4bn for an autoimmune drug developed by Chinese biotech RemeGen.
According to the deal, Vor Bio – previously a cell and gene therapy specialist – will gain global rights to develop and commercialise telitacicept, a drug already approved in China for a range of autoimmune conditions.
Vor Bio is immediately paying $125m via an upfront payment and common stock purchases. Further regulatory and commercial milestones mean the deal could surpass $4bn in total.
Shares in Vor Bio opened 45% higher on 26 June following the announcement the day prior. The biotech has a market cap of $144m.
RemeGen will keep rights to the dual-target fusion protein in China, Hong Kong, Macau and Taiwan.
In China, telitacicept is already approved for generalised myasthenia gravis, systemic lupus erythematosus, and rheumatoid arthritis. Telitacicept reduces B-cell activity by inhibiting two types of cytokines and is tipped to challenge existing autoimmune drugs.
RemeGen is conducting a global Phase III clinical trial with telitacicept for the treatment of generalised myasthenia gravis. The study, which is expected to produce initial results in the first half of 2027, will support potential approval in the US and Europe.
The deal signals an abrupt turnaround for Vor Bio. Once an incumbent in the cell and gene therapy space, the company became a casualty of the sector's poor performance. The biotech wound down clinical and manufacturing operations in May, along with firing 95% of its staff. The eight that were left were tasked with strategic alternatives.
A Vor Bio spokesperson told Pharmaceutical Technology: 'At the time, the company announced it would be initiating a process to pursue strategic alternatives, and this transaction is part of that process.'
The company's high-value licensing deal reflects the company's transition away from advanced therapies and into autoimmune indications.
Sanofi's blockbuster autoimmune drug Dupixent (dupilumab) is one of the best-selling drugs in the world, representing the lucrative nature of the sector. For example, the rheumatoid arthritis drug market across the eight major global markets is forecast to reach $29.1bn by 2029, according to analysis by GlobalData.
GlobalData is the parent company of Pharmaceutical Technology.
While announcing the RemeGen deal, Vor Bio revealed that a new CEO will lead the company going forward. Dr Jean-Paul Kress will be at the helm following Dr Robert Ang's resignation on 26 June. Kress most recently served as CEO of MorphoSys, helping roll out Monjuvi (tafasitamab) – a drug acquired for $25m by Incyte.
In his first statement as CEO, Kress said he was 'thrilled' to help transform the company into a 'major player in autoimmune disease treatment'.
He added: 'With a clinically advanced asset, we are uniquely positioned to develop this innovative therapy, with the goal of making a meaningful impact for patients living with autoimmune diseases around the world.'
"Vor Bio back from brink with autoimmune drug deal rising to $4bn" was originally created and published by Pharmaceutical Technology, a GlobalData owned brand.
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