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Processa buys Vydia and funds immune research
Processa Pharmaceuticals announced its acquisition of Vedia Therapeutics through a share exchange, granting it rights to develop a leading treatment for immune patients in T-7208. The company also issued shares to raise approximately $200 million to fund drug development and support operations through the second half of 2029. Processa plans to initiate mid-stage trials for T-7208 to treat food allergy and chronic hives in the second half of 2026, multiple sclerosis in the first half of 2027, with preliminary results expected between 2027 and 2028. The drug has shown effectiveness at low doses and was described as well-tolerated with no serious side effects. Shares of the company dropped over 40% following the announcement, and it aims to complete the funding by July 30.
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