XORTX Closes Vectus VB4-P5 Kidney Asset Buy

XORTX Therapeutics has closed its acquisition of the Vectus kidney anti-fibrotic asset, a renal anti-fibrotic therapeutic program centered on VB4-P5. The program includes VB4-P5's novel new chemical entity, associated intellectual property, regulatory documentation, and manufacturing data.

As consideration, XORTX issued 154,544 common shares at a deemed issue price of US$3.5432 and 692,150 pre-funded warrants at a deemed issue price of US$3.5431, for an aggregate acquisition price of US$3.0 million. The VB4-P5 program is currently at the pre-IND stage and targets kidney fibrosis across rare and prevalent kidney disease forms.