Business
XORTX Announces Closing of Acquisition of Vectus Kidney Anti-fibrotic Asset
• VB4-P5 – novel new chemical entity with potential to address significant unmet ...
About this update from Xortx Therapeutics, Inc.
[{"type":"text","content":"XORTX Announces Closing of Acquisition of Vectus Kidney Anti-fibrotic Asset\n• VB4-P5 – novel new chemical entity with potential to address significant unmet need in rare and large-market chronic kidney disease • CALGARY, Alberta, April 13, 2026 (GLOBE NEWSWIRE) -- XORTX Therapeutics Inc. (\"XORTX\" or the “Company”) (NASDAQ: XRTX | TSXV: XRTX | Frankfurt: ANU), a late-stage clinical pharmaceutical company focused on developing innovative therapies to treat gout and progressive kidney disease, is pleased to announce the closing of the acquisition of the Vectus kidney anti-fibrotic asset (the “Acquisition”). The Company announced that it entered a binding term sheet on October 17, 2025 to acquire a Renal Anti-Fibrotic Therapeutic Program (the “Program”) from Vectus Biosystems Limited, an Australian Securities Exchange listed company (“Vectus”) and provided timing updates on December 31, 2025 and February 4, 2026.    The Program includes a novel new chemical entity, VB4-P5, along with its associated intellectual property, regulatory documentation, and manufacturing data. The Program is currently at the pre-IND (Investigational New Drug) stage of development and targets both rare and prevalent forms of kidney disease — areas with substantial unmet medical need. Assets included with the Acquisition are the patent family specifically related to the VB4-P5 compound and its use to treat kidney fibrosis, as well as the data generated by Vectus from its work on the VB4-P5 small molecule and related assets. As consideration for the Acquisition, XORTX has issued 154,544 common shares (the “Common Shares”) at a deemed issue price of US$3.5432 (CAD$4.9668) and 692,150 pre-funded warrants (the “Pre-Funded Warrants”) at a deemed issue price of US$3.5431 (CAD$4.9667) exercisable at US$0.0001, representing in the aggregate an acquisition price of US$3.0 million. The Pre-Funded Warrants contain conditions limiting Vectus from exercising same if such exercise would result in Vectus’ Common Share ownership being greater than 9.99% of the issued and outstanding Common Shares of XORTX. The Pre-Funded Warrants expire April 13, 2031. The Common Shares are issued in reliance on Section 4 of Alberta Securities Commission Rule 7...