Oruka Therapeutics Inc. (NASDAQ: ORKA) amended its IL-23 license agreement with Paragon Therapeutics Inc. on May 29, 2026, expanding the therapeutic field to include inflammatory bowel disease.

The amendment modifies the original license agreement dated December 17, 2024, broadening the definition of "Field" to encompass all therapeutic, prophylactic, palliative and diagnostic uses. The expanded rights come with timing restrictions on clinical development for inflammatory bowel disease applications.

Under the amended terms, Oruka cannot dose human patients in clinical trials of ORKA-001 for inflammatory bowel disease as part of a combination therapy until June 1, 2028, or as monotherapy until June 1, 2030.

The agreement includes provisions for early termination of certain restrictions. If Oruka or a licensee of Paragon's retained rights completes a material transaction, including a change of control, the remaining restrictions beyond the initial field definition would terminate on June 1, 2028, rather than extending to the 2030 date for monotherapy applications.

The information is based on the company's press release statement regarding the license agreement amendment.