Ne­oleuk­in's quest to shake up the IL-2 space gets a boost via re­verse merg­er with Aquinox

Months af­ter launch­ing out of the Uni­ver­si­ty of Wash­ing­ton, Ne­oleukin Ther­a­peu­tics is mak­ing a swift leap to the Nas­daq and gain­ing mo­men­tum to push its new IL-2 can­cer drug to the clin­ic.

Aquinox Phar­ma­ceu­ti­cals — which had been ex­plor­ing strate­gic al­ter­na­tives af­ter a late-stage dis­as­ter forced the com­pa­ny to ax half its staff — pro­vid­ed the shell for the re­verse merg­er. Their share­hold­ers will own around 61.42% of the com­bined en­ti­ty while Ne­oleukin gets ac­cess to $65 mil­lion in cap­i­tal­iza­tion.

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