WESTPORT, Conn., July 20, 2022 (GLOBE NEWSWIRE) -- Portage Biotech Inc. (NASDAQ: PRTG), a clinical-stage immuno-oncology company developing therapies to improve patient lives and increase survival by avoiding and overcoming cancer treatment resistance, today announced that the Company has acquired the outstanding ownership interest (approximately 22%) of its invariant natural killer T cell (iNKT agonist) platform and now fully owns the worldwide rights to its small molecule iNKT agonists, including lead programs PORT-2 and PORT-3. The platform was acquired through Portage’s iOx Therapeutics Ltd. (iOx) subsidiary from the founding equity holders in exchange for 1,070,000 ordinary shares of Portage. Additionally, a payment of $25,000,000 in Portage ordinary shares or cash would be triggered upon the achievement of a certain clinical milestone in the PORT-2 or PORT-3 programs.
Portage Biotech Acquires Outstanding Minority Interest of Invariant Natural Killer T cell (iNKT) Agonist Platform
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