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Oncothyreon Raises $15M

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.

Luke Timmerman is the National Biotechnology Editor for Xconomy. You can e-mail him at ltimmerman@xconomy.com, call 206-624-2374, or follow him on Twitter at http://twitter.com/ldtimmerman.

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