Portage Biotech Announces Letter of Intent With Immunova for an Option To Acquire iOx Therapeutics, Ltd

UF startup Immunova, LLC, a private Connecticut-based biotechnology company, has entered into a Letter of Intent(LOI) with Portage Biotech, Inc. to advance its novel immuno-oncology therapies for cancer treatment.

Under the terms of the LOI, Portage and Immunova have agreed to negotiate a definitive option agreement for Immunova or an affiliate to acquire the entire share capital of iOx Therapeutics, Ltd, a wholly owned subsidiary of Portage. iOx is focused on developing liposomal iNKT agonists, and its lead candidate, PORT-2, has demonstrated promising preliminary clinical activity.

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