Vera Therapeutics (VERA) said Monday it has secured an exclusive license deal with Stanford University for fusion protein targeting BAFF and APRIL, known as VT-109, with therapeutic potential across the spectrum of B cell mediated diseases.
Vera said it will develop and market VT-109 in exchange for undisclosed upfront and milestone payments as part of the agreement.
Vera's lead product candidate is atacicept, a fusion protein that blocks both B-cell Activating Factor (BAFF) and A PRoliferation-Inducing Ligand (APRIL), which stimulate B cells to produce autoantibodies contributing to certain autoimmune diseases, including Berger's disease and lupus nephritis.
The company's shares were down over 10% in recent trading.
Price: 33.26, Change: -3.77, Percent Change: -10.17
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