MabVax in merger talks with Oncotelic

|By:, SA News Editor

MabVax Therapeutics Holdings (OTCPK:MBVX) is in negotiations with privately held Oncotelic, a cancer immunotherapy developer, about a possible merger.

The companies inked a non-binding letter of intents yesterday. The proposed tie-up will be an all-stock transaction in which Oncotelic will become a wholly owned subsidiary of MabVax. The combined company, 75% owned by MabVax shareholders and 25% owned by Oncotelic shareholders, will do business as Oncotelic.

The deal may include at least $10M in new financing.

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