Ikena Oncology, a targeted oncology company forging new territory in patient-directed cancer treatment, and Pionyr Immunotherapeutics, a privately-held, clinical-stage biotechnology company, today announced the closing of Ikena’s acquisition of Pionyr in an all-stock transaction. Ikena acquired all of Pionyr’s assets, including approximately $43 million in net cash, in exchange for shares of IKNA stock, in a combination of common stock and non-voting convertible preferred stock priced at $7.15 per share.
Pionyr is founded by UCSF immunotherapy researcher, Max Krummel, PhD.