OS Therapies Incorporated (NYSEAM:OSTX) agreed to acquire Immuno-Oncology Programs and IP Assets from Ayala Pharmaceuticals, Inc. (OTCPK:ADXS) for $8 million on January 28, 2025. A cash consideration of $0.5 million will be paid by OS Therapies Incorporated. Under the terms of the agreement, OS Therapies has agreed to pay $0.5 million in cash and issue $7.5 million worth of OS Therapies?
common shares to Ayala. OS Therapies previously completed a $7.1 million financing, priced at $4.00 per share primarily with existing shareholders, that provides the Company with sufficient cash runway into 2026 inclusive of payments to Ayala. As part of the financing agreement, OS Therapies agreed to appoint Karim Galzahr to the Company?s Board of Directors.
The transaction is expected to close 60 days from execution of the agreement, subject to customary closing conditions.
