Drug hunter biotech continues to acquire immunotherapy loot

US clinical-stage immuno-oncology company Portage Biotech (Nasdaq: PRTG) says it has acquired the outstanding ownership interest (approximately 22%) of its invariant natural killer T cell (iNKT agonist) platform and now fully owns the worldwide rights to its small molecule iNKT agonists, including lead programs PORT-2 and PORT-3.

This follows Portage Biotech’s recent acquisition of Tarus Therapeutics and the addition of adenosine antagonists to its roster of immuno-oncology assets,

The platform was acquired through Portage’s iOx Therapeutics (iOx) subsidiary from the founding equity holders in exchange for 1,070,000 ordinary shares of Portage. Additionally, a payment of $25,000,000 in Portage ordinary shares or cash would be triggered upon the achievement of a certain clinical milestone in the PORT-2 or PORT-3 programs.