Oncotelic Forms $50 Million Hong Kong JV to Develop Antisense Candidate
publication date: May 27, 2022
Oncotelic Therapeutics, a South San Francisco company, formed a Hong Kong JV with Dragon Overseas Capital to develop TGF-β therapeutics. Oncotelic’s OT-101 is an antisense candidate that targets TGF-β2 to treat solid tumors, especially brain cancer in adults and DIPG, a rare form of childhood brain cancer. Oncotelic said the JV would assume financial support for clinical development of OT-101. Dragon Overseas will invest $27.6 million in cash (and other assets) for a 55% stake in the JV, implying a $50 million valuation for the JV. Oncotelic licensed OT-101 to the JV for the remaining 45%. More details....
Stock Symbol: (OTCQB: OTLC)
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