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Portage Buys Tarus, Gaining Cancer Assets Targeting Immune Evasion

 
• By Jessica Merrill

Acquisition valued at roughly $21m upfront for two clinical and two preclinical adenosine receptor antagonists.

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Portage picked up Tarus in a stock-based acquisition. • Source: Shutterstock

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.

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