Knight Therapeutics makes strategic investment in Advaxis
Knight Therapeutics Inc (TSX: GUD), a Canadian specialty pharmaceutical company, has joined Sectoral Asset Management in an investment in Advaxis Inc (NASDAQ: ADXS), a U.S. clinical-stage biotechnology company developing cancer immunotherapies. Knight and Sectoral are purchasing shares in the company, the combined gross proceeds of which will be about US$25 million. The deal is linked to a licensing agreement that will give Knight the Canadian commercial rights to Advaxis's product portfolio, which includes three lead drug candidates. Sectoral manages a life sciences venture fund that recently received commitments from Knight.
26 August 2015•7 mins read
