XORTX Provides Update on Acquisition of Renal Anti-Fibrotic Therapeutic Program from Vectus Biosystems
XORTX (NASDAQ: XRTX) said it amended its October 17, 2025 term sheet with Vectus to extend the deadline to close the acquisition of the renal anti-fibrotic program, including the novel chemical entity VB4-P5, to on or before March 31, 2026.
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Rhea-AI Summary
XORTX (NASDAQ: XRTX) said it amended its October 17, 2025 term sheet with Vectus to extend the deadline to close the acquisition of the renal anti-fibrotic program, including the novel chemical entity VB4-P5, to on or before March 31, 2026.
The acquisition remains subject to finalized closing documents, regulatory approvals, stock exchange requirements and applicable securities laws. XORTX also scheduled its Annual and Special Meeting for March 24, 2026 (record date Feb 20, 2026) and granted 20,000 stock options at CAD 0.69 for five years to new director Krysta Davies Foss.
Positive
- Acquisition deadline extended to March 31, 2026
- Adds novel chemical entity VB4-P5 with IP and manufacturing data
- Annual meeting scheduled for March 24, 2026 (record date Feb 20, 2026)
Negative
- Closing remains subject to regulatory approvals and exchange compliance
- Extension delays closing beyond the original 90-day term sheet timeline
- 20,000 option grant could cause modest shareholder dilution if exercised
Details
News Market Reaction – XRTX
On Feb 5, the first trading day after this news, XRTX closed 17.71% below the previous close.
Data tracked by StockTitan Argus for the Feb 5 session.
Key Figures
- Original closing window
- 90 days
- Closing deadline from Oct 17, 2025 term sheet
- New acquisition deadline
- March 31, 2026
- Extended closing date for Vectus renal anti-fibrotic program acquisition
- Shareholder meeting date
- March 24, 2026
- Scheduled Annual and Special Meeting of Shareholders
- Record date
- February 20, 2026
- Shareholders of record entitled to vote at the meeting
- Director stock options
- 20,000 options
- Granted to new director under stock option plan
- Option exercise price
- CAD $0.69
- Exercise price for options granted to new director
- Option term
- 5 years
- Duration of granted director stock options
Previous Acquisition Reports
-
Signed binding term sheet to acquire Vectus renal anti-fibrotic program.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
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CALGARY, Alberta, Feb. 04, 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, announces that further to its press release of October 17, 2025 and an update on December 31, 2025, the Company has entered into an extension agreement with Vectus Biosystems Limited (“Vectus”) to allow further time to complete the acquisition of the Renal Anti-Fibrotic Therapeutic Program from Vectus (the “Acquisition”). The term sheet entered into October 17th (the “Term Sheet”) to acquire the novel new chemical entity, VB4-P5, along with its associated intellectual property, regulatory documentation, and manufacturing data, provided for closing the Acquisition no more than 90 days from the execution of the Term Sheet. The Company has entered into an amendment that provides for closing of the Acquisition on or before March 31, 2026 to provide additional time for transfer of intellectual property.
The Term Sheet is subject to finalization of closing documentation, satisfaction of conditions that are typical for a transaction of this type including receipt of all regulatory approvals, and compliance with applicable stock exchange requirements and applicable securities laws.
In other news, XORTX confirms it has scheduled its Annual and Special Meeting of Shareholders for Tuesday, March 24, 2026 (the “Meeting”). Shareholders of record on February 20, 2026 will be entitled to vote at the Meeting.
The Company also confirms that in connection with the appointment of Krysta Davies Foss to the board of directors, XORTX has granted, in accordance with the Company’s stock option plan, 20,000 options to purchase common shares of the Company at an exercise price of CAD
About Kidney Disease and Fibrosis
Chronic kidney disease (CKD) affects an estimated
Kidney fibrosis — characterized by excessive accumulation of extracellular matrix following renal injury — is a hallmark of CKD progression, leading to organ dysfunction, high morbidity, and mortality2 Rare kidney diseases such as autosomal dominant polycystic kidney disease (ADPKD)3 and lupus nephritis4 also manifest fibrosis, contributing to the deterioration of kidney and cardiovascular function. Currently, available treatments for kidney fibrosis focus primarily on blood pressure control and dietary interventions. No approved therapies specifically target or reverse kidney fibrosis.
About the VB4-P5 Program
Early preclinical data from the VB4-P5 program demonstrate the potential of this potent small molecule to inhibit and possibly reverse kidney fibrosis. Patent protection for VB4-P5 includes composition-of-matter and method-of-use claims across more than 30 global jurisdictions, positioning the program for broad development and commercialization opportunities.
References
- National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK). Kidney Disease Statistics for the United States.
- Panizo S. Fibrosis in Chronic Kidney Disease. Int J Mol Sci 22(1):408, 2021.
- Xue C. Polycystic Kidney Disease and Renal Fibrosis. Adv Exp Med Biol, 2019.
- Sciascia S. Renal Fibrosis in Lupus Nephritis. Int J Mol Sci 23(22):14317, 2022.
About XORTX Therapeutics Inc.
XORTX is a pharmaceutical company with three clinically advanced products in development: 1) our lead program XRx-026 program for the treatment of gout; 2) XRx-008 program for ADPKD; and 3) XRx-101 for acute kidney and other acute organ injury associated with respiratory virus infections. In addition, the Company is developing XRx-225, a pre-clinical stage program for Type 2 diabetic nephropathy. XORTX is working to advance products that target aberrant purine metabolism and xanthine oxidase to decrease or inhibit production of uric acid. At XORTX, we are dedicated to developing medications that improve the quality of life and health of individuals with gout and other important diseases. Additional information on XORTX is available at www.xortx.com.
| For more information, please contact: | |
| Allen Davidoff, CEO | Nick Rigopulos, Director of Communications |
| adavidoff@xortx.com or +1 403 455 7727 | nick@alpineequityadv.com or +1 617 901 0785 |
Neither the TSX Venture Exchange nor Nasdaq has approved or disapproved the contents of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Forward Looking Statements
This press release contains express or implied forward-looking statements pursuant to applicable securities laws. These forward-looking statements include, but are not limited to, the Company's beliefs, plans, goals, objectives, expectations, assumptions, estimates, intentions, future performance, other statements that are not historical facts and statements identified by words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “seeks”, “estimates” or words of similar meaning. These forward-looking statements and their implications are based on the current expectations of the management of XORTX only, and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Such risks, uncertainties, and other factors include, but are not limited toour ability to obtain additional financing; the accuracy of our estimates regarding expenses, future revenues and capital requirements; the success and timing of our preclinical studies and clinical trials; the performance of third-party manufacturers and contract research organizations; our plans to develop and commercialize our product candidates; our plans to advance research in other kidney disease applications; and, our ability to obtain and maintain intellectual property protection for our product candidates. Except as otherwise required by applicable law and stock exchange rules, XORTX undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. More detailed information about the risks and uncertainties affecting XORTX is contained under the heading “Risk Factors” in XORTX’s Annual Report on Form 20-F filed with the SEC, which is available on the SEC's website, www.sec.gov (including any documents forming a part thereof or incorporated by reference therein), as well as in our reports, public disclosure documents and other filings with the securities commissions and other regulatory bodies in Canada, which are available on www.sedarplus.ca.
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