Portage Adds Four Adenosine Candidates to Pipeline in Tarus Buyout

Clinical-stage immuno-oncology company Portage Biotech announced Wednesday that it has inked an acquisition agreement with New York-based Tarus Therapeutics.

The deal will see Portage hand over nearly 2.5 million shares, assume $3 million of Tarus’ outstanding liabilities and commit up to $32 million in milestones, payable in cash or shares. The transaction also adds four best-in-class compounds to Portage’s already-healthy pipeline, each targeting different parts of the adenosine pathway.