Processa Pharmaceuticals Acquires Vidya Therapeutics and Raises ~$200M for VT-7208 Phase 2 Programs

Processa Pharmaceuticals acquired Vidya Therapeutics in a stock-for-stock transaction to bring Vidya’s CNS-penetrant, once-daily BTK inhibitor VT-7208 into Processa’s pipeline. Concurrently, Processa entered into a definitive agreement for an approximately $200 million private placement, with proceeds intended to fund VT-7208’s parallel Phase 2 proof-of-concept studies across food allergy, chronic spontaneous urticaria (CSU), and relapsing multiple sclerosis (RMS).