By Fineline Cube 
China-based RemeGen Co., Ltd. (SHA: 688331, HKG: 9995) announced an exclusive licensing agreement with U.S.-based Vor Biopharmaceuticals for the global development and commercialization of telitacicept (RC18), excluding Greater China. The agreement covers the first-in-class BLyS/APRIL dual-target fusion protein.
Financial Terms
Under the terms of the agreement, RemeGen will receive an upfront payment of USD 45 million and USD 80 million in warrants. If fully exercised, the warrants represent 23% of Vor Bio’s enlarged share capital. Additionally, RemeGen is eligible for up to USD 4.105 billion in clinical development and commercial milestone payments, along with royalties ranging from high single-digit to low double-digit percentages of annual net sales.
Drug Profile
Telitacicept is the world’s first BLyS/APRIL dual-target biologic. It has been approved in China for the treatment of myasthenia gravis (MG), systemic lupus erythematosus (SLE), and rheumatoid arthritis (RA). The drug is currently the subject of a global Phase III study in myasthenia gravis (MG), an indication that has been awarded fast-track designation in the U.S. and orphan drug designations in both the U.S. and Europe.-Fineline Info & Tech