Heat Biologics acquires Texas biotech Pelican Therapeutics
Durham-based biotechnology company Heat Biologics Inc. agreed on Wednesday to acquire a controlling interest in the Austin, Texas-based biotech company Pelican Therapeutics Inc., the company said in a release. Heat Biologics, which is focused on the field of cancer immunotherapy, said it had agreed to pay participating Pelican Therapeutics stockholders an upfront cash payment not to exceed $500,000 and will issue more than $1.3 million shares of Heat Biologics common stock for an 80 percent controlling interest in Pelican Therapeutics.
from Biotech News
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