Thursday, May 30, 2013

Oncothyreon Gets $10M In PIPE

Seattle-based biotechnology developer Oncothyreon disclosed this morning that it has raised $10M in a registered direct offering. The publicly held firm said it has agreed to sell 5,000,000 shares of its common stock and warrants to purchase 5,000,000 shares of common stock to Biotechnology Value Fund, L.P. and affiliates of BVF Partners L.P. The company said it will use the funding to pay for the upfront fee under its development and commercialization agreement with Array BioPharma, as well as research and development and other corporate purposes. Oncothyreon is developing treatments for cancer. More information »