Oruka Therapeutics licenses IL-17A/F antibodies from Paragon; up to $22M in milestones

Oruka Therapeutics, Inc.

Exclusive worldwide license to develop and commercialize Paragon's anti-IL-17A/F antibodies.
Milestone payments up to $22M, including $1.5M for candidate nomination and $2.5M for first Phase 1 dosing.
Low single-digit royalty on antibody products; royalty term up to 12 years after first sale.
Paragon agrees not to conduct new anti-IL-17A/F campaigns in the field for at least 5 years.
Company may terminate agreement on 60 days' notice; termination for breach or insolvency.

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