Mergers & Acquisitions ·
Processa acquires Vidya Therapeutics and raises $200M in private placement to advance BTK inhibitor VT7208
PCSAProcessa Pharmaceuticals, Inc.
Processa Pharmaceuticals completed its acquisition of Vidya Therapeutics, bringing the lead asset VT7208 into its pipeline. In connection with the transaction, Processa raised $200 million in gross proceeds from a private placement of non-voting convertible preferred stock to institutional investors including Bain Capital Life Sciences and Janus Henderson Investors. The company plans to advance VT7208, an oral BTK inhibitor, in Phase 2 trials for food allergy, chronic spontaneous urticaria, and multiple sclerosis. Processa Pharmaceuticals is a clinical-stage biotechnology company focused on developing treatments for autoimmune conditions.