XORTX Therapeutics Acquires Renal Anti-Fibrotic Therapeutic Program

XORTX Therapeutics Inc. has announced the acquisition of a Renal Anti-Fibrotic Therapeutic Program from Vectus Biosystems Limited. The program includes a novel new chemical entity, VB4-P5, which is at the pre-IND stage of development and targets both rare and prevalent forms of kidney disease. The acquisition is valued at USD $3.0 million, payable in common shares or common share equivalents of XORTX. The VB4-P5 program has robust global patent protection and strong preclinical evidence, aligning with XORTX's strategic focus on developing innovative therapies for progressive kidney disease. The acquisition is subject to finalization of closing documentation, regulatory approvals, and compliance with applicable stock exchange requirements and securities laws. The closing is expected to occur within 90 days from the execution of the Term Sheet.