Vor Biopharma Inc. ( VOR ) saw its stock climb Thursday following a strategic licensing agreement and a major capital raise to support its push into autoimmune therapies.

The developments mark a pivotal evolution for the Cambridge-based biotech, which was originally launched by PureTech Health plc ( PRTC ) .

Vor Bio signed an exclusive global licensing deal with RemeGen Co., Ltd., giving it rights outside Greater China to develop and commercialize telitacicept, a dual-action fusion protein already approved in China for multiple autoimmune disorders.

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Under the agreement, Vor will pay $125 million upfront, $45 million in cash, and $80 million in stock warrants, along with potential milestone payments exceeding $4 billion and tiered royalties.

Alongside the licensing news, Vor announced on Wednesday a private placement in public equity, which is expected to raise roughly $175 million in gross proceeds.

The financing involves the issuance of 700 million pre-funded warrants at $0.25 each, with shares exercisable at $0.0001 upon shareholder approval. The transaction is anticipated to close on June 27, pending standard conditions.

On Thursday, Wedbush analyst David Nierengarten reiterated a Neutral rating on the company, and maintained a 40 cents price forecast.

Meanwhile, biotech veteran Jean-Paul Kress, M.D. has stepped in as CEO and Chairman of the company, replacing Dr. Robert Ang, who will stay on as a strategic advisor through October.

Kress brings decades of executive experience, including past roles at MorphoSys, Syntimmune, and current board service at Sanofi ( SNY ) .

He expressed enthusiasm for leading Vor through its transition into a leading autoimmune innovator. As of May 8, PureTech held a 2.1% beneficial ownership stake in Vor Bio, reflecting its founding role in the company.

According to Benzinga Pro, VOR stock has lost over 30% in the past year.

Price Action: VOR shares are trading higher by 112.8% to $1.18 at last check Thursday.

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