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Ikena Oncology Acquires Pionyr Immunotherapeutics In All-Stock Transaction

PRIVATEAug 07, 2023

Acquiring Company

Ikena Oncology

Acquired Company

Pionyr Immunotherapeutics

BostonBiotechnologyHealth CareMedicalTherapeuticsBiotechnologyHealth Care

Description

Ikena Oncology, Inc. (Nasdaq: IKNA, “Ikena”), a targeted oncology company forging new territory in patient-directed cancer treatment, and Pionyr Immunotherapeutics, Inc. (Pionyr), a privately-held, clinical-stage biotechnology company, today announced the closing of Ikena’s acquisition of Pionyr in an all-stock transaction. Ikena acquired all of Pionyr’s assets, including approximately $43 million in net cash, in exchange for shares of IKNA stock, in a combination of common stock and non-voting convertible preferred stock priced at $7.15 per share.

Quick answer

Ikena Oncology is acquiring Pionyr Immunotherapeutics, announced August 7, 2023. Ikena Oncology is based in Boston, Massachusetts, United States.

How much did Ikena Oncology pay for Pionyr Immunotherapeutics?
The deal value was not disclosed.
What does Ikena Oncology do?
Ikena OncologyTM is focused on developing differentiated therapies for patients in need that target nodes of cancer growth, spread, and therapeutic resistance in the Hippo and RAS onco-signaling network.
Where are Ikena Oncology and Pionyr Immunotherapeutics based?
Ikena Oncology is based in Boston, Massachusetts, United States.
Who are the decision-makers at Ikena Oncology?
Fundz holds 1 contact at Ikena Oncology. Names and contact details are shown to Fundz members.

Source: Fundz verified event record.

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Company Information

Company

Ikena Oncology

Location

Boston, Massachusetts, United States

About

Ikena OncologyTM is focused on developing differentiated therapies for patients in need that target nodes of cancer growth, spread, and therapeutic resistance in the Hippo and RAS onco-signaling network. The Company’s lead targeted oncology program, IK-930, is a TEAD1 selective Hippo pathway inhibitor, a known tumor suppressor pathway that also drives resistance to multiple targeted therapies. The Company’s additional research spans other targets in the Hippo pathway as well as the RAS signaling pathway, including developing IK-595, a novel MEK-RAF inhibitor. Additionally, IK-175, an AHR antagonist, is being developed in collaboration with Bristol Myers Squibb. Ikena aims to utilize their depth of institutional knowledge and breadth of tools to efficiently develop the right drug using the right modality for the right patient. To learn more, visit www.ikenaoncology.com or follow us on Twitter and LinkedIn.

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Frequently asked

Who acquired Pionyr Immunotherapeutics?

Pionyr Immunotherapeutics was acquired by Ikena Oncology, based in Boston. The deal was reported on August 7, 2023. Ikena OncologyTM is focused on developing differentiated therapies for patients in need that target nodes of cancer growth, spread, and therapeutic resistance in the Hippo and RAS onco-signaling network. Ikena Oncology is privately held and operates in Biotechnology.

When did Ikena Oncology acquire Pionyr Immunotherapeutics?

Ikena Oncology's acquisition of Pionyr Immunotherapeutics was reported on August 7, 2023. Ikena Oncology, Inc. (Nasdaq: IKNA, “Ikena”), a targeted oncology company forging new territory in patient-directed cancer treatment, and Pionyr Immunotherapeutics, Inc. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.

What does Pionyr Immunotherapeutics do?

Pionyr’s programs exploit novel target discovery and antibody generation platform technologies to create the next generation of immuno-oncology therapeutics after checkpoint inhibitors. It is privately held, operating in Biotechnology.

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