Vor Bio licenses telitacicept from RemeGen for $125M upfront, raises $175M PIPE, appoints new CEO

Vor Biopharma Inc.

License deal: Vor Bio gets ex-China rights to telitacicept (global Phase 3 for gMG) for $125M upfront ($45M cash + $80M warrants); up to $4B+ milestones plus royalties.
Private Placement: $175M gross from pre-funded warrants to buy 700M shares at $0.25/warrant; closing expected June 27, 2025.
CEO change: Robert Ang resigned; Jean-Paul Kress (ex-MorphoSys CEO) appointed CEO and Chairman. Dr. Ang stays as advisor through October.
Cambridge lease terminated: $8.5M termination fee paid; $2.4M letter of credit to be returned. Lease was set to expire in 2030.
Stockholders representing ~63% voting power signed support agreements to approve share issuance and charter amendment.

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