Processa Pharmaceuticals Announces Corporate and Pipeline Progress Following Acquisition of Vidya Therapeutics
Key Highlights
- ➤FDA clears Phase 2 CSU IND for VT-7208 in approximately 120 adults
- ➤Processa adds oral macrocyclic peptide FcRn antagonist through Generian collaboration
- ➤Approximately $200 million private placement accompanied Vidya acquisition
- ➤Cash resources expected to fund operations into the second half of 2029
- ➤Sheila Gujrathi appointed Executive Chair of Processa’s Board
Expert Statements
Sheila Gujrathi, Executive Chair of Processa’s Board of Directors
“Since the Vidya transaction, we have made great progress in executing our strategy.”
Sheila Gujrathi, Executive Chair of Processa’s Board of Directors
“The FDA clearance of the CSU IND is an exciting step toward advancing VT-7208 across three planned Phase 2 programs.”
Sheila Gujrathi, Executive Chair of Processa’s Board of Directors
“At the same time, the Generian collaboration expands our pipeline around another high-value, clinically validated immune target.”
Sheila Gujrathi, Executive Chair of Processa’s Board of Directors
“With funding in place to support these programs, our focus is on disciplined execution and generating the data needed to demonstrate the potential of the portfolio.”
Justin Yorke, Former Chair of the Processa Board of Directors
“Sheila has been an invaluable partner to the Board since the Vidya transaction, and her experience building biotechnology companies, advancing clinical programs and creating long-term value makes her well suited to lead the Board through this next phase.”
Justin Yorke, Former Chair of the Processa Board of Directors
“We are pleased to have her step into the Executive Chair role as Processa advances its clinical strategy and broader pipeline.”
* U.S. FDA clears IND for Phase 2 study of VT-7208 in chronic spontaneous urticaria; additional Phase 2 studies planned in food allergy and relapsing multiple sclerosis
* Company expands pipeline through research collaboration of a novel, oral macrocyclic peptide-based neonatal Fc receptor antagonist program from Generian Pharmaceuticals
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