Norwegian Targovax acquires Finnish pharmaceutical startup
Norwegian Targovax has entered into an agreement with the shareholders of Finnish clinical-stage biotechnology company Oncos Therapeutics to acquire the shares of Oncos with settlement in Targovax shares. After the transaction, the shareholders of Oncos will own 50 per cent of Targovax.
The combined company is aiming to be a Nordic leader within immuno-oncology.
The new company has already received indications from leading institutional investors for a substantial amount, including but not limited to a 26 million Norwegian krones (2,9 million euros) commitment from Health Cap, 25 million Norwegian krones (around 2,8 million euros) from Datum Invest AS and 5 million Norwegian krones (around 600 000) from the Norwegian Radium Hospital Research Foundation
Oncos Therapeutics was founded in 2009 to further develop and commercialise a treatment that had initially been developed at the University of Helsinki.