Nuvation inks all-stock deal for US-China oncology biotech AnHeart

Nu­va­tion Bio plans to buy An­Heart Ther­a­peu­tics in an all-stock deal, the can­cer drug de­vel­op­ers said Mon­day morn­ing, in a move that could turn Nu­va­tion in­to a com­mer­cial drug­mak­er next year.

Cur­rent An­Heart share­hold­ers will own about 33% of the com­bined Nu­va­tion as part of the deal, which is an­tic­i­pat­ed to close in the sec­ond quar­ter, the com­pa­nies said.

An­Heart, a US and Chi­na biotech, was like­ly in need of cash. The biotech last dis­closed a $61 mil­lion Se­ries B in De­cem­ber 2021, and that round was ex­pect­ed to last the biotech on­ly 12 to 18 months, co-founder and then-busi­ness chief Li­hua Zheng told End­points News at the time.

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