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Oncothyreon privately raises $9.8mm to fund alliance with Array

Executive Summary

Oncothyreon Inc. (small molecules and vaccines for cancer) netted $9.8mm through the sale of 5mm common shares at $2 apiece (a slight discount) to Biotechnology Value Fund (BVF) and other BVF affiliates. Investors also received five-year warrants to purchase 5mm shares at $5. Oncothyreon will use the proceeds to fund the $10mm up-front payment on its concurrent alliance with Array BioPharma surrounding the development and US co-promotion of Array's breast cancer candidate ARRY380.
Deal Industry
  • Biotechnology
  • Pharmaceuticals
    • Vaccines
Deal Status
  • Final
Deal Type
  • Financing
    • Private Investment in Public Equity
    • Private Placement

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