Pharma BD Deal Intelligence

Vor Biopharma / RemeGen Co., Ltd.

2025 · Licensing/Option · Complete

Vor Bio entered an exclusive global license agreement with RemeGen on June 25, 2025 for telitacicept, a dual-target BLyS/APRIL fusion protein approved in China for gMG, SLE and RA, covering all territories outside China, Hong Kong, Macau and Taiwan. Vor Bio pays an initial $125 million consisting of $45 million cash upfront plus $80 million of warrants exercisable at $0.0001, with regulatory and commercial milestones stated to exceed $4 billion plus tiered royalties. Announced alongside a $175 million private placement. Total deal value left NULL: the milestone figure was disclosed only as 'exceeding $4 billion', not a precise total.

This deal is too recent to grade. Critic Score and Outcome Score are assigned after the announcement-week coverage settles and, for Outcome, after the 5-year post-close assessment window opens — expected 2030 at the earliest for this deal, once/if it closes.

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