Vor Biopharma (VOR) said Friday it has agreed to sell more than 5.3 million shares of common stock at $14.05 per share in a private placement expected to raise about $75 million in gross proceeds.

The financing was led by new investor TCGX and is expected to close around Monday, the company said.

Vor Biopharma said it plans to use the proceeds to advance development of telitacicept, including ongoing phase 3 trials in Myasthenia Gravis and Sjogren's Syndrome, as well as for business development and general corporate purposes.