Trillium Therapeutics acquires Fluorinov Pharma for up to $32 million

Trillium Therapeutics (TSX:TR) has acquired all of the outstanding shares of fellow Canada-based privately-held Fluorinov Pharma, an independent business trust FACIT portfolio company, in a deal worth up to C$45 million ($32 million).

Trillium ), a clinical immuno-oncology company, agreed to acquire all outstanding shares of Fluorinov for C$10 million in upfront cash, plus up to C$35 million in future payments tied to Trillium achieving clinical and regulatory milestones with an undisclosed existing Fluorinov compound.

The transaction combines Fluorinov's pipeline of oncology therapeutics and risk-reduced drug discovery engine, with Trillium's pool of innovative immuno-oncology therapies. The resulting impressive arsenal of clinical and near-clinical stage products is positioned to benefit greatly from the capital and development resources available to Trillium. The acquisition also reflects the strength of innovation within the province, as well as the current momentum behind biotechnology and product development expertise in Ontario.