Recent biotech deals involving reverse mergers and BTK inhibitors advancing in immune and inflammatory (I&I) disease programs include Processa Pharmaceuticals' acquisition of Vidya Therapeutics via an all‑stock reverse‑merger style transaction, and Caldera Therapeutics’ reverse merger with Synlogic to advance its IBD‑focused pipeline. Processa’s deal centers on a differentiated clinical‑stage BTK inhibitor with broad potential in immune‑mediated disorders, supported by a $200 million private placement that gives the combined company a multi‑year runway; prior to the merger, Processa itself had gone public in 2017 via a reverse merger with an asphalt‑equipment company. Caldera Therapeutics, an inflammatory bowel disease (IBD) startup, struck a reverse merger with Nasdaq‑listed Synlogic, valuing the combined company at roughly $500 million and including a $278 million private placement to fund its IBD pipeline development. Separately, Travere Therapeutics has licensed the c...
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