Roquefort to stretch itself with Oncogeni buy

UK-based biotech Roquefort Therapeutics (LSE: ROQ) is to acquire Oncogeni in an all-share transaction which sources value at around £4 million ($4.9 million).

Privately-held Oncogeni is also a UK biotech company. It was founded by Nobel Laureate, Sir Martin Evans in 2019, with an experienced leadership team that is developing cell- and RNA-based cancer medicines, which Roquefort’s board believes is very complementary to its own existing pre-clinical drug development business.

"A transformational, value enhancing transaction for shareholders"Oncogeni has developed two families of innovative cell and RNA oncology medicines, both in pre-clinical development, which are protected by nine patents. The firm’s chief executive is Ajan Reginald, an experienced biotech boss who will take on the top job at the enlarged company.