Oasmia Pharmaceutical buys cancer project from Karo Pharma
Tuesday, October 25, 2016
Oasmia Pharmaceutical and Karo Pharma have entered into an agreement concerning Karo Pharma's cancer project KB9520, which has shown promising results in pre-clinical models for a number of different types of cancer.
Oasmia acquires the project and strengthens its oncology project portfolio.
Karo Pharma receives 3,080,000 newly issued shares as a down payment corresponding to a value of MSEK 25.
Additionally, Oasmia will pay Karo Pharma 20% of all future revenues generated by the project for Oasmia.
Oasmia will continue the development process and will be responsible for all project expenses.
Source : reuters.com
