Roquefort Therapeutics (LON: ROQ) Announced its second acquisition in seven months. Oncogeni Ltd, a cancer drug company, has been acquired to issue 50 million shares and is in a position to raise £ 1.01 million at 14p per share.
This is the second acquisition since Roquefort emerged as a shell on the standard list in March 2021. The initial ranking was 5p per share. Last November, Lyramid was acquired for cash and shares, with sales of £ 3m per share at 10p.
The focus of the group is the early stage biotechnology business. The latest contract means that we have a portfolio of four cancer programs.
Two preclinical families of innovative cell and RNA oncology drugs include Oncogeni and the Stratford-upon-Avon laboratory.
Sir Martin Evans, founder and Nobel laureate of Oncogeni, will join the board of directors as well as his new CEO, Agen Reginald.
New shareholders such as Daiichi Sankyo, a global pharmaceutical company, and CH Health, a biotechnology investor, will expand our shareholder base.
The one-year financial statements to May 2022 show net worth of £ 14,556. More information should be released when the proposed acquisition is finalized.
There are programs for two existing techniques being developed by Roquefort Therapeutics. Potential antibody programs for ROQA1 and ROQA2 showed significant anticancer activity in an in vivo model of metastatic tumors. Other technical programs have shown that lead oligonucleotide drug candidates significantly reduce midkine mRNA levels in human cancer cells.
Proposal to acquire Roquefort Therapeutics
Source link Proposal to acquire Roquefort Therapeutics