VOR Bio reshapes itself into autoimmune biotechnology and reshapes with 3-stage assets and $175 million in funding
VOR BIO, a cancer cell therapy developer that reduced nearly all of its employees in operations last month, reappeared with new management, an approved major drug candidate and $175 million in financing to support its new focus on autoimmune diseases.
Cambridge, Massachusetts-based VOR said Thursday it reached an agreement with Telitacicept, a drug from Remegen that has approved generalized muscle weakness, GMG GRAVIS (GMG), systemic lupus red eRERYTHEMATOSUS and Rheumatoid arthritis. China-based Remegen retains the drug’s home country. The drug is currently in a global Phase 3 study at GMG and can support FDA submissions.
In GMG, autoantibodies attack proteins that are important for the communication between nerves and muscles. Rare diseases lead to problems such as difficulty swallowing and muscle weakness. The progression of GMG is mediated by an immune cell called B cells. VOR’s new drug is a fusion protein designed to selectively inhibit B-cell activator or BAFF (also known as Blys), while April is the two signaling proteins for B-cell survival.
VOR isn’t the only company that follows one or two goals, but its focus on GMG can help it separate. Novartis’ Zigakibart is a blockade monoclonal antibody that is testing immunoglobulin A nephropathy (IGAN) in phase 3. Vera Therapeutics blocks Baff and April with a fusion protein called Atacicept. In early June, Vera announced that the drug reached Igan’s Phase 3 goal. It is planned to submit FDA submissions in the fourth quarter of this year. Vertex Pharmaceuticals is following Baff and April along with Povetacicept, a fusion protein that is at the heart of last year’s $4.9 billion acquisition of Alpine Immune Sciences. Povetacicept has reached a phase 3 test in IGAN and a phase 2/3 clinical trial in primary membranous nephropathy.
GMG treatment has welcomed new therapies in recent years, but has not yet addressed Baff and April. Available therapies include drugs that block proteins associated with the disease (Ultomiris of Astrazeneca and Zilbrysq of UCB) and FCRN inhibitors (Vyvgart and Vyvgart Hytrulo of Argenx; Rystiggo of UCB). GMG’s latest FCRN inhibitor is Johnson & Johnson’s Imaavy, which received FDA approval in May. VOR said Telitacicept’s Phase 3 study is patient recruitment in the United States, Europe and South America. Preliminary results are expected in the first half of 2027.
VOR Biopharma, co-founded by oncologist Siddhartha Mukherjee and Startup Creator Puretech Health, is developing stem cell-derived cell therapies for blood cancers that can provide alternatives to currently available cancer CAR Therapies, which are manufactured by harvesting and engineering patients’ own T cells that are provided for cancer. The biotechnology went public in 2021, raising nearly $177 million. Despite progress in the clinical phase planning, VOR’s cash is low. In May, the company ceased its clinical and manufacturing operations and put about 95% of its employees abandoned strategic alternatives to the business.
VOR CEO Robert Ang resigned on Thursday, the company said. The board has appointed Jean-Paul Kress as the new CEO. Kress is the former CEO of Morphosys, which was acquired by Novartis last year. He is also the former CEO of Syntimmune, the director was acquired by Alexion Pharmaceuticals, now a rare disease subsidiary of Astrazeneca.
“Using Telitacicept localization for BAFF/APRIN signaling is a significant advance in addressing autoantibodies that is highly distinct from other ways in the field,” Cres said in a prepared statement. “With clinically advanced assets, we are in a unique state of development of this innovative therapies with the goal of having a meaningful impact on patients with autoimmune diseases around the world.”
VOR reported in its second quarter 2025 financial report that its cash position was approximately $60 million. The company announced a $175 million private placement Thursday, bringing its financial position to a financial position. Participants in the new financing include existing VOR shareholder RA Capital Management. Other investors disclosed are Mingxin Capital, Forbion, Venrock Healthcare Capital Partners, Caligan Partners and Nextbio. VOR said it will use the proceeds to advance its pipeline and for general corporate purposes.
Under VOR’s agreement with Remegen, VOR will pay $125 million to biotech, including $45 million in upfront payments and warrant purchases of about $80 million in VOR stock. VOR said Remegen could receive up to $330 million in regulatory milestone payments, compared with $3.7 billion associated with sales milestones. If the drug reaches the market, Remgen will also receive royalties from the sale.
Photo: Marchmeena29, Getty Images
