Shots:
Portage to acquire Tarus in exchange for 2.4M PRTG shares along with the $3M of liabilities, ~$32M in Portage shares or cash upon achievement of future development and sales milestones
In return, Portage will acquire two clinical-stage and two preclinical assets for ~$21M up front & also bolsters its pipeline with an acquisition of 4 candidates (PORT-6/7/8/9) each targeting different parts of the adenosine pathway
Portage has entered into a share purchase agreement with LPC for ~$30M to provide financing flexibility to Portage. Additionally, Portage to get the right to sell ~$30 million of its ordinary shares to LPC over the 36mos. term of the agreement while LPC received 94,508 ordinary shares
Ref: Globenewswire | Image: Tarus
