Onconova Therapeutics, Inc. And Trawsfynydd Therapeutics, Inc. Announce All-Stock Business Combination, Under Agreement, Onconova Acquired 100% Of Trawsfynydd's Outstanding Equity Shares With A Combined Fully Diluted Equity Value Of $132M; In Connection, Traws Will Raise $14M In Committed Private Placement Financing
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Onconova Therapeutics, Inc. (ONTX) has completed an all-stock acquisition of Trawsfynydd Therapeutics, Inc., with a combined equity value of $132M. Additionally, Trawsfynydd will raise $14M through committed private placement financing.
April 02, 2024 | 11:13 am
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Onconova Therapeutics, Inc. has acquired Trawsfynydd Therapeutics, Inc. in an all-stock transaction valued at $132M, with Trawsfynydd raising an additional $14M in financing.
The acquisition of Trawsfynydd Therapeutics by Onconova Therapeutics represents a significant strategic move, likely to enhance Onconova's product portfolio and market position. The all-stock nature of the deal preserves cash, while the additional $14M financing for Trawsfynydd could support further development and integration activities. This news is likely to be viewed positively by investors, potentially leading to a short-term uptick in ONTX's stock price.
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