XORTX Provides Update on Acquisition of Renal Anti-Fibrotic Therapeutic Program from Vectus Biosystems

Executive Summary

• XORTX Therapeutics entered into an amendment to its October 17, 2025 term sheet with Vectus Biosystems, extending the deadline for closing the acquisition of the VB4‑P5 renal anti‑fibrotic therapeutic program to on or before March 31, 2026.
• The extension provides additional time to complete transfer of intellectual property, satisfy regulatory approvals and meet stock‑exchange requirements.
• XORTX scheduled its Annual and Special Shareholder Meeting for March 24, 2026, and granted 20,000 stock options (exercise price CAD $0.69) to newly appointed director Krysta Davies Foss under the company’s stock option plan.

Key Details

• Acquisition Extension Agreement
• Parties: XORTX Therapeutics Inc. and Vectus Biosystems Limited.
• Original term sheet (Oct 17, 2025) required closing within 90 days of execution.
• Amendment now sets the final closing date on or before March 31, 2026.

• Extension intended to allow additional time for transfer of VB4‑P5 intellectual property, regulatory approvals, and compliance with exchange/ securities law requirements.

• VB4‑P5 Program

• Novel chemical entity (VB4‑P5) plus associated IP, regulatory documentation, and manufacturing data are the subject of the acquisition.

• Early preclinical data suggest potential to inhibit or reverse kidney fibrosis; patent protection covers composition‑of‑matter and method‑of‑use claims in >30 jurisdictions.

• Shareholder Meeting

• Annual and Special Meeting scheduled for Tuesday, March 24, 2026.

• Record date for voting: February 20, 2026.

• Option Grant to New Director

• Krysta Davies Foss appointed to the board of directors.
• Granted 20,000 stock options to purchase common shares at an exercise price of CAD $0.69 per share.
• Options have a five‑year term under XORTX’s stock option plan.

Notable Quotes

• “The extension ensures we can complete the VB4‑P5 acquisition in a manner that safeguards the integrity of the IP transfer and meets all regulatory requirements, positioning us to advance this promising anti‑fibrotic program.” – Allen Davidoff, CEO, XORTX Therapeutics.