Paragon Therapeutics’ Oruka is merging with ARCA biopharma to advance novel treatments for chronic skin diseases.
In support of the all-stock transaction, Oruka has raised $275 million from a syndicate of healthcare investors. Oruka is Paragon’s third offshoot, following Spyre Therapeutics and Apogee Therapeutics.
The combined company, which plans to operate under the name Oruka Therapeutics, Inc., anticipates rapid advancement of Oruka’s pipeline of biologics, with co-lead programs, ORKA-001 and ORKA-002, expected to enter clinical trials in 2025.
ORKA-001 is an IL-23p19 inhibitor under development for psoriasis, and ORKA-002 targets IL-17A/F and is being investigated in psoriasis, psoriatic arthritis and other diseases. Both could potentially be administered once or twice per year.
