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Genesis Biopharma Inc Announces Completion Of Merger With Lion Biotechnologies

Thursday, 25 Jul 2013 08:30am EDT 

Genesis Biopharma Inc announced that it has completed a merger with Lion Biotechnologies Inc., a privately held biotechnology company based in Los Angeles. The merger will create a publicly traded biotechnology company, to be called Lion Biotechnologies, focused on developing T-cell based immunotherapy products for the treatment of cancer. Developed by Steven A. Rosenberg, chief of surgery at the National Cancer Institute (NCI), the Company's core technology has demonstrated robust efficacy in Phase II clinical trials, indicating 50-72% response rates in Stage IV metastatic melanoma. Under the terms of the merger agreement, Genesis shareholders will continue to hold 83.6% of the combined company and Lion shareholders will initially receive 8.2%, and may receive up to 16.4% of the combined company based on achievement of certain milestones. The stock will continue trading under the ticker symbol GNBP until further notice. 

Company Quote

29 Oct 2014