Virax to acquire AKTivate and deep AKT inhibitor portfolio

17 October 2014

Australian biotechnology company Virax Holdings (ASX: VHL) willacquire US oncology companyAKTivateTherapeuticsand itsnovelTCN-P cancerdrugpendingshareholderapproval. The news has impressed investors, with Virax shares closing 40% higher to finish the week at A$0.01.

AKTivate’stechnology inhibitsthehighlypromisingdrugtargetAKTandincludestwoactive clinicaltrials–aPhase Ib/IIinbreastcancerandanactivePhase Ibinovariancancer.These trialsarefully fundedbyUSgovernmentauthoritiesincludinggrantsfromtheDepartmentof Defenseand the National CancerInstitute.

Terms of the acquisition

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