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
