Vor Biopharma, after recently laying off 95% of its workforce and exploring strategic alternatives, announced a $4.23 billion global licensing deal for RemeGen’s telitacicept, a dual-target fusion protein drug already approved in China for multiple autoimmune indications123.
Vor paid RemeGen $45 million upfront and granted warrants for about $80 million in Vor stock, with up to $330 million in regulatory milestones and $3.7 billion in sales milestones possible, plus royalties, if telitacicept is approved outside China2.
The asset, telitacicept, inhibits the immune signals BAFF and APRIL, tackling the survival of B cells implicated in diseases like generalized myasthenia gravis. A global Phase 3 trial is ongoing, with results expected in H1 20273.
The deal, announced June 26, 2025, coincided with Vor Bio raising $175 million in private placement PIPE financing and appointing Jean-Paul Kress, M.D., as new CEO while the prior CEO became a strategic advisor135.
Vor Bio’s shares rose 60.5% on the news to $0.89 following several days of gains, reflecting optimism from some investors, even as the company had recently been in distress due to layoffs and uncertainty1.
The partnership and reorientation toward autoimmune diseases mark a dramatic shift in Vor Bio’s corporate direction, with market reactions diverging as the company bets its future on telitacicept’s clinical and commercial success15.
Sources:
1. https://www.bioworld.com/articles/721517-after-axing-95-workforce-vor-bets-4b-on-remegens-telitacicept
2. https://medcitynews.com/2025/06/vor-bio-autoimmune-disease-remegen-myasthenia-gravis-gmg-baff-april-fusion-protein/
3. https://www.biospace.com/press-releases/puretech-founded-entity-vor-bio-announces-exclusive-global-license-agreement-with-remegen-for-late-stage-autoimmune-asset-and-175-million-private-placement
5. https://www.biopharmadive.com/news/vor-remegen-new-ceo-pipe-financing/751757/