XORTX extends closing of therapeutic program buy

Executive Summary

• XORTX Therapeutics has entered into an extension agreement with Vectus Biosystems to delay the closing of its acquisition of the renal anti-fibrotic therapeutic program (VB4-P5) and associated intellectual property until on or before March 31, 2026.
• The company has scheduled its Annual and Special Meeting of Shareholders for March 24, 2026, with a record date of February 20, 2026.
• In connection with the appointment of Krysta Davies Foss to the board of directors, XORTX granted her 20,000 stock options at an exercise price of $0.69.

Key Details

• Acquisition Extension: The original term sheet dated October 17, 2025, required closing within 90 days. The new amendment extends the closing deadline to on or before March 31, 2026.
• Target Asset: The acquisition involves the novel new chemical entity VB4-P5, along with associated intellectual property, regulatory documentation, and manufacturing data.
• Closing Conditions: The transaction remains subject to finalization of closing documentation, satisfaction of typical conditions (including regulatory approvals), and compliance with stock exchange and securities laws.
• Shareholder Meeting: The Annual and Special Meeting of Shareholders is set for Tuesday, March 24, 2026.
• Record Date: Shareholders of record on February 20, 2026, are entitled to vote.
• Director Option Grant: Krysta Davies Foss was granted 20,000 options to purchase common shares.
• Option Terms: The options have an exercise price of $0.69 and a term of five years, granted in accordance with the company's stock option plan.