M&As this week: Pelican Therapeutics, Thru Pharma

9th March 2017 (Last Updated March 9th, 2017 18:30)

Clinical-stage biopharmaceutical company Heat Biologics has signed a definitive agreement to purchase 80% stake in US-based immuno-oncology company Pelican Therapeutics.

Clinical-stage biopharmaceutical company Heat Biologics has signed a definitive agreement to purchase 80% stake in US-based immuno-oncology company Pelican Therapeutics.

"Kasten and Thru Pharma have announced the completion of their merger."

The acquirer company has agreed to pay $0.5m in cash upfront and issue 1.3 million shares of its common stock to the target company’s shareholders as consideration for the acquisition.

Kasten and Thru Pharma have announced the completion of their merger.

Kasten will continue to operate under the same name following the merger.

Operating as DAKOTA Life Sciences, Thru Pharma expects the merged entity will enable to offer unique and affordable prescription and over-the-counter (OTC) pharmaceutical products to the market.