- Athenex Inc ATNX shares have risen during premarket trading in reaction to acquiring Kuur Therapeutics Inc, a portfolio company of IP Group plc, for $70 million upfront.
- Additionally, Kuur shareholders are eligible to receive up to $115 million of milestone payments.
- Kuur is a clinical-stage biotech company focused on developing off-the-shelf CAR-NKT cell immunotherapies for the treatment of solid and hematological malignancies.
- Johnson Lau, Chief Executive Officer of Athenex, said: "We are excited to add Kuur Therapeutics and its innovative allogeneic CAR-NKT technology to the Athenex platform. Kuur's innovative technology, combined with our TCR program, could propel us into a leadership position in cell therapy."
- Price Action: ATNX shares are up 45.5% at $5.4 during the premarket session on the last check Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
