Roquefort Therapeutics completes Oncogeni deal for £5.5 million

Published by

Peter Davison

Roquefort Therapeutics PLC has completed its acquisition of Stratford-Upon-Avon-based cancer-focused biotech firm Oncogeni Ltd for £5.5 million.

The London-based biotech company, which focuses on developing cancer treatments, issued 50 million new ordinary shares to the shareholders of Oncogeni.

The acquisition was funded through the placing of 7.2 million shares announced in June which raised a little over £1 million.

“We are extremely pleased to have completed the fundraise and the acquisition of Oncogeni, which pivots Roquefort Therapeutics into a material oncology biotech company with a pre-clinical anti-cancer portfolio that is patent protected and fully funded to clinical trial submission," said Stephen West, executive chairman of Roquefort Therapeutics.

"In addition to the exciting portfolio, Roquefort Therapeutics now has a state-of-the-art laboratory and manufacturing facility which provides the group with major cost saving and time advantages as we progress through the pre-clinical stage of development.

"The acquisition also strengthens our Board and senior management with complementary skills and expertise, and I am very excited with the team we have in place to drive our programs forward and to realise value."

Peter Davison

Peter Davison is deputy editor of The Business Magazine. He has spent his life in journalism – doing work experience in newsrooms in and around Bristol while still at school, and landing his first job on a local newspaper aged 19. By 28 he was the youngest newspaper editor in the country. An early advocate of online news, he spent the first years of the 2000s telling his bosses that the internet posed both the biggest opportunity and greatest threat to the newspaper industry and the art of journalism. He was right on both counts. Since 2006 he has enjoyed a career as a freelance journalist. He lives in rural Wiltshire with one wife, two children, and three cats.