Avidity Boosts Oruka Stake by $3.4M

Avidity Partners boosts stake in Oruka Therapeutics, now holding 12% of the company, following a 500% stock surge. Oruka, a clinical-stage biotech, is developing monoclonal antibodies for psoriasis and immune disorders. Their lead candidate, ORKA-zero zero one, showed promising Phase IIa results, with 63.5% of patients achieving full skin clearance. Oruka plans a $500 million public offering to fund larger trials, potentially positioning ORKA-zero zero one as a best-in-class treatment. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/64508d0d27c0fb06