Oncothyreon, the Seattle-based developer of cancer drugs, said today it has received commitments from several investors to buy new shares and warrants for $11.1 million. The deal, underwritten by Boenning & Scattergood, is expected to close May 26. Oncothyreon (NASDAQ: [[ticker:ONTY]]) has been diversifying its pipeline toward an emphasis on cancer drugs, and has seen renewed interest from investors in its cancer immunotherapy program since Seattle-based Dendreon has has success in that field.
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
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