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Ignyta Acquires Teva Oncology Assets

Gains four targeted oncology development programs in exchange for 1.5 million shares

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By: Kristin Brooks

Managing Editor, Contract Pharma

Ignyta, an oncology focused biopharma company, has acquired worldwide rights and assets to four of Teva Pharmaceutical’s targeted oncology development programs in exchange for 1.5 million shares (6%) of Ignyta’s stock. Ignyta has entered into stock purchase agreements with Teva and selected additional healthcare investors, with the offering valued at approximately $41.6 million.   “Teva has committed to finding novel ways for the ongoing development of early clinical stage and pre-clinical oncol...

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