Brief: Portage Biotech Announces Acquisition Of Four Candidates Targeting The Adenosine Pathway

Alpha Compute

06/07/2022 21:19

July 6 (Reuters) - Portage Biotech Inc  PRTG.O :
    * PORTAGE BIOTECH BOLSTERS PIPELINE WITH ACQUISITION OF FOUR
CANDIDATES TARGETING THE ADENOSINE PATHWAY
    * PORTAGE BIOTECH - ACQUIRES 2 CLINICAL-STAGE, BEST IN CLASS
ADENOSINE COMPOUNDS, 2 PRECLINICAL ASSETS FOR APPROXIMATELY $21
MILLION UPFRONT CONSIDERATION
    * PORTAGE BIOTECH INC - ROB GLASSMAN, M.D., PH.D., DIRECTOR
OF
TARUS AND FORMER VENTURE PARTNER AT ORBIMED, TO JOIN PORTAGE
BOARD
    * PORTAGE BIOTECH INC - ENTERS INTO COMMITTED SHARE PURCHASE
AGREEMENT WITH LINCOLN PARK CAPITALTO PURCHASE ORDINARY SHARES
OF PORTAGE FOR UP TO $30 MILLION
    * PORTAGE BIOTECH - COMMITTED SHARE PURCHASE AGREEMENT WITH
LINCOLN PARK CAPITAL TO POTENTIALLY EXTEND CASH RUNWAY FOR
CURRENT PROJECTS INTO 2024
    * PORTAGE BIOTECH INC - SIGNED AN AGREEMENT TO ACQUIRE TARUS
THERAPEUTICS, A PRIVATE COMPANY DEVELOPING ADENOSINE RECEPTOR
ANTAGONISTS
    * PORTAGE BIOTECH INC - WILL ACQUIRE TARUS IN EXCHANGE FOR
2.4
MILLION PRTG SHARES ALONG WITH ASSUMPTION OF $3 MILLION OF
LIABILITIES
    * PORTAGE BIOTECH -UNDER DEAL TO ACQUIRE TAURUS, PAYMENTS OF
UP TO
$32 MILLION IN CO'S SHARES OR CASH TO BE TRIGGERED UPON
ACHIEVEMENT OF FUTURE MILESTONES

Source text for Eikon:  ID:nGNX1qCqcP 
Further company coverage:  PRTG.O 

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