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United States

Kitov boosts ownership in Tyrnovo and Oncology platform


Friday, 6 Oct 2017 08:21am EDT 

Oct 6 (Reuters) - Kitov Pharmaceuticals Holdings Ltd :Kitov boosts ownership in Tyrnovo and Oncology platform through exchange of shares for stock.Kitov Pharmaceuticals Holdings Ltd - ‍Acquires an additional 27% ownership stake in Tyrnovo and NT219, its oncology therapeutic candidate​.Kitov Pharmaceuticals Holdings-‍After closing of transaction, Kitov will hold approximately 92% of Tyrnovo's issued and outstanding ordinary shares​.Kitov - ‍Acquires additional ownership stake in Tyrnovo and NT219 in exchange for Kitov stock at a value of $2.50 per ads​.Kitov - To acquire Tyrnovo shares from unaffiliated minority shareholders​ based on agreed upon Tyrnovo valuation of $7 million.