Oncothyreon Raises $11M
Luke Timmerman5/20/09
Oncothyreon, the Seattle-based developer of cancer drugs, said today it has received commitments from several investors to buy new shares and warrants for $11.1 million. The deal, underwritten by Boenning & Scattergood, is expected to close May 26. Oncothyreon (NASDAQ: ONTY) has been diversifying its pipeline toward an emphasis on cancer drugs, and has seen renewed interest from investors in its cancer immunotherapy program since Seattle-based Dendreon has has success in that field.
Luke Timmerman is the National Biotech Editor of Xconomy, and the Editor of Xconomy Seattle. E-mail him at ltimmerman@xconomy.com or follow him on Twitter at twitter.com/ldtimmerman.
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5/20/09 11:43 am
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