Oncothyreon Raises $15M

8/4/09

Oncothyreon (NASDAQ: ONTY), the Seattle-based developer of cancer drugs, said today it has raised $15 million by securing commitments from investors to buy new shares and warrants. The financing came one day after demand surged for Oncothyreon sales when it said a small group of lung cancer patients had long-lasting responses after taking Stimuvax, the immune-boosting vaccine therapy Oncothyreon is co-developing with Merck KGaA. Oncothyreon’s main business these days is actually in developing cancer drugs, not vaccines, as described in this March profile on Xconomy.

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