secwatch.observer — SEC 8-K summary
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Issuer:     Oruka Therapeutics, Inc. (ORKA)
CIK:        0000907654
Form:       8-K
Filed at:   2024-12-19T23:59:59+00:00
Accession:  0001213900-24-110303
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01
LLM model:  deepseek-v4-flash:cloud@v2

Oruka Therapeutics enters exclusive IL-23 license with Paragon; up to $22M milestones
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- Oruka grants exclusive worldwide license for anti-IL-23 antibodies (ORKA-001) from Paragon, excluding inflammatory bowel disease.
- Milestone payments up to $22M including $1.5M for development candidate nomination and $2.5M for first Phase 1 dosing.
- Low single-digit royalty on antibody products; royalty term ends 12 years after first sale or last-to-expire patent.
- Paragon will not conduct new anti-IL-23 monospecific antibody campaigns in Field for at least 5 years.
- Company may terminate on 60 days notice; agreement also subject to material breach and insolvency provisions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/907654/000121390024110303/0001213900-24-110303-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/907654/000121390024110303/ea0225145-8k_oruka.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-110303

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer