Oncology Venture A/S has secured the remaining 16% ownership in its priority PARP inhibitor (2X-121) program along with its 2X-111 program, by acquiring all outstanding shares in Oncology Venture US Inc. for $1.75 million. The company now has full ownership of 2X-121, which is being clinically developed as an anti-cancer therapeutic, as well as being tested as an anti-viral agent against COVID-19. Also, 2X-111 is being clinically developed as an anti-cancer therapeutic via a recently announced license agreement with Smerud Medical Research International.
Steve Carchedi, CEO of Oncology Venture, said, “We are excited to gain full ownership of our priority 2X-121 program, along with full ownership of our 2X-111 program. Our acquisition of the remaining commercial rights in these programs now provides our Company and our shareholders with the full potential upside of these promising therapeutics, as we bring them towards the market and to cancer patients.”