VOR-33/VCAR-33 is a gene-modified cell therapy commercialized by Vor BioPharma, with a leading Phase II program in Acute Myelocytic Leukemia (AML, Acute Myeloblastic Leukemia). According to Globaldata, it is involved in 3 clinical trials, which are ongoing. GlobalData uses proprietary data and analytics to provide a complete picture of VOR-33/VCAR-33’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.

The revenue for VOR-33/VCAR-33 is expected to reach an annual total of $95 mn by 2038 in the US based off GlobalData’s Expiry Model. The drug’s revenue forecasts along with estimated costs are used to measure the value of an investment opportunity in that drug, otherwise known as net present value (NPV). Applying the drug’s phase transition success rate to remaining R&D costs and likelihood of approval (LoA) to sales related costs provides a risk-adjusted NPV model (rNPV). The rNPV model is a more conservative valuation measure that accounts for the risk of a drug in clinical development failing to progress.

VOR-33/VCAR-33 Overview

VCAR-33 is under development for the treatment of relapsed and refractory acute myeloid leukemia (AML) in children and adolescents/young adults. It is administered via parenteral route. It is developed based on eHSC technology. The drug candidate constitutes of autologous T cells genetically engineered to express chimeric antigen receptor targeting CD33. It acts by targeting cells expressing CD33.

Vor BioPharma Overview

Vor BioPharma is a clinical stage cell therapy company that develops therapies for treatment of hematological malignancies. The company’s pipeline products include VOR33, an engineered hematopoietic stem cells (eHSC) designed to replace the standard of care in transplant settings; and VCAR33, a CD33-directed chimeric antigen receptor T cell (CAR-T) therapy. It is investigating VCAR33 for relapsed or refractory acute myelogenous leukemia (AML). Vor BioPharma’s multi-targeted treatment system is comprised of VCAR33-CLL1 multi-specific CAR-T therapy and VOR33-CLL1 multiplex-edited eHSC therapy to treat patients with AML using eHSC platform. Vor BioPharma is headquartered Cambridge, Massachusetts, the US.

The operating loss of the company was US$69 million in FY2021, compared to an operating loss of US$43.4 million in FY2020. The net loss of the company was US$68.9 million in FY2021, compared to a net loss of US$43.3 million in FY2020.

For a complete picture of VOR-33/VCAR-33’s valuation, buy the drug’s risk-adjusted NPV model (rNPV) here.


GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

To create this model, GlobalData takes into account factors including patent law, known and projected regulatory approval processes, cash flows, drug margins and company expenses. Combining these data points with GlobalData’s world class analysis creates high value models that companies can use to help in evaluation processes for each drug or company.

The rNPV method integrates the probability of a drug reaching a clinical stage into the cash flow at that time, which provides a more accurate valuation, as it considers the probability that the drug never makes it through the clinical pathway to commercialization. GlobalData’s rNPV model uses proprietary likelihood of approval (LoA) and phase transition success rate (PTSR) data for the indication in the highest development stage, which can be found on GlobalData’s Pharmaceutical Intelligence Center.