Portage Biotech Inc.will expand its clinical stage immuno-oncology pipeline with the addition of two adenosine receptor antagonists through the acquisition of Tarus Therapeutics. Publicly traded Portage, a company led by former immuno-oncology specialists who previously worked at Bristol Myers Squibb Company, will buy privately held Tarus in a stock transaction valued at around $21m upfront.
Tarus investors will also be able eligible to receive up to $32m in potential future development and sales milestone payments...