XORTX Therapeutics Inc. (XRTX), a late-stage clinical pharmaceutical company focused on developing innovative therapies to treat gout and progressive kidney disease, announced the closing of the acquisition of the Vectus kidney anti-fibrotic asset from Vectus Biosystems Limited (VBS.AX).
For XORTX, the Program includes the acquisition of a new chemical candidate, VB4-P5, which is currently at the pre-IND or Investigational New Drug stage of development and targets both rare and prevalent forms of kidney disease.
As consideration for the Acquisition, XORTX has issued 0.15 million common shares at a deemed issue price of $3.54 or CAD$4.97 and 0.69 million pre-funded warrants at a deemed issue price of $3.54 or CAD$4.97 exercisable at $0.0001, representing in the aggregate an acquisition price of $3.0 million. The Pre-Funded Warrants expire April 13, 2031.
The firm entered into the initial binding agreement on October 17,205 to acquire the program from Vectus Biosystems and provided timing updates in December 2025 and February 2026.
"We believe this novel agent has the potential to be a new treatment for mid-late stage chronic kidney disease, slow kidney disease progression and accompanying fibrosis." Allen Davidoff, Chief Executive Officer of XORTX.
Chronic kidney disease affects an estimated 14% of adults globally, including approximately 35-37 million individuals in the United States alone the company noted.
The firm also estimated the addressable market for kidney disease treatment to exceed 10 million individuals.
XORTX engages in the development and commercialisation of therapies for the treatment of hyperuricemia-related diseases in Canada.
The company develops XRx-026, for the treatment of gout; XRx-008, for autosomal dominant polycystic kidney disease; XRx-101, for acute kidney injury associated with respiratory virus infection, including sepsis and coronavirus; and XRX-225, for the treatment of type 2 diabetic nephropathy, as well as VB4-P5, a program for the treatment and prevention of fibrosis in the kidney.
XRTX has traded between $1.72 and $7.0 over the last year. The stock closed Monday's trade at $2.21, down 11.25%.
In the overnight market, XRTX went down further by 3.17% to $2.14.
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