On March 2, 2025 Oqory reported its planned reverse merger with fellow antibody-drug conjugate company Vincerx Pharma has fallen apart at the last minute, leaving Vincerx to size up its remaining options in the final months before its cash runs dry (Press release, Oqory, MAR 2, 2025, View Source [SID1234650810]).

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The deal, which was expected to include a minimum fully diluted equity value of $13.66 million, would have seen 95% of the merged business owned by Oqory’s current equity holders while making use of Vincerx’s Nasdaq listing. When it announced the agreement in late December, Vincerx also initiated a C-suite clear-out that saw Ahmed Hamdy, M.D., stepping down as CEO and Chief Financial Officer Alexander Seelenberger leaving his role, alongside a wider "workforce reduction."

At the time, Vincerx’s Chief Operations Officer Raquel Izumi, Ph.D., who was moved into the acting CEO role, described being acquired by Oqory as "highlight[ing] Vincerx’s commitment to develop ADCs with improved safety profiles that allow patients to thrive on—rather than endure—their cancer therapies."