PureTech Health (PRTC) noted that its founded entity, Vor Bio (VOR) and RemeGen announced entry into an exclusive license agreement granting Vor Bio global rights to develop and commercialize telitacicept, a novel dual-target fusion protein approved in China for generalized myasthenia gravis, systemic lupus erythematosus, and rheumatoid arthritis. Under the terms of the agreement, Vor Bio will pay RemeGen an initial payment of $125M consisting of an upfront payment of $45M as well as $80M 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 $4B, in addition to tiered royalties.
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