Biomira, OncoTherapeutics Inc. deal

BIOMF (Edmonton, Alberta) reached an agreement in principle to acquire OncoTherapeutics, a developer of cancer therapies using liposomal technologies and applied immunology, for 3 million common shares. BIOMF, which closed at $4 on Friday, has 29.9 million shares outstanding prior to the acquisition.

OncoTherapeutics's shareholders can receive an additional 450,000 shares upon achievement of certain milestones. ...