REMEGEN (09995.HK): Amends Vor Bio Licence to Add RC298 with US$56m Upfront

NewTimeSpace News: On 12 November 2026, after trading hours, RemeGen Co., Ltd. (stock code: 9995) signed an amendment to its 25 June 2025 licence agreement with Vor Biopharma Inc., adding its proprietary RC298 to the collaboration, with Vor Bio obtaining exclusive rights to develop and commercialise RC298 in the licensed territory, being the world excluding Greater China, where RemeGen retains all rights.

RemeGen will receive upfront consideration worth about US$56 million, comprising US$10 million in cash and warrants to subscribe for 2.3 million Vor Bio shares at an exercise price of US$0.0001 per share, valued at about US$46 million based on Vor Bio's closing price on 11 November 2026. RemeGen is also eligible for up to US$300 million in development milestone payments, of which US$20 million is payable on achieving early clinical development and technology transfer milestones; the existing sales milestones and royalties continue to apply and are calculated on aggregate sales of all licensed products.

RC298 is a next-generation long-acting dual BAFF/APRIL inhibitor, an engineered TACI-Fc fusion protein that blocks both signalling pathways to prevent the differentiation and survival of pathogenic B cells and plasma cells. Preclinical studies showed potent inhibition and significantly prolonged systemic exposure, supporting best-in-class potential. RemeGen will continue to lead preclinical and Phase I development in China, after which Vor Bio will handle later-stage development, regulatory filings and commercialisation in the licensed territory.

The transaction is revenue in nature and in the ordinary course of business and does not constitute a discloseable transaction under Chapter 14. RC298 is at the preclinical stage ahead of an IND filing, and clinical outcomes and regulatory approval remain uncertain.