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Roquefort Therapeutics to acquire cancer drug licence in £32m RTO deal and raise £8.5m
Roquefort Therapeutics PLC (LSE:ROQ),a biotech company currently valued at less than £1.5 million, is set to be transformed into a clinical-stage oncology business after announcing the £32 million acquisition of an exclusive worldwide licence to a promising cancer drug alongside a £8.5 million fundraise. The company is acquiring the rights to AO-252, an orally administered small molecule drug targeting TACC3, a protein that is over-expressed in many aggressive tumours, from Coiled Therapeutics, a spin-out of A2A Pharma Pharmaceuticals.
