Oncimmune acquires Protagen Diagnostics for up to £4.1m
Source - SMW
Cancer diagnostics group Oncimmune Holdings said it had acquired Protagen Diagnostics for up to £4.1m.
The deal would be funded by the allotment of up to around 2.6m Oncimmune shares 156p per share, a premium of 71% to their closing price on Monday.
'The acquisition of Protagen will accelerate Oncimmune's product discovery process, will grow our library of known and novel immunogenic proteins, and will underpin the group's ability to deliver value through the development of complementary diagnostics, a key component of our three-year forward strategy,' chief executive Adam M Hill said.
At 8:20am: (LON:ONC) Oncimmune Holdings Plc share price was 0p at 91p