‘Best-In-Class Virology And Oncology’: Onconova Therapeutics, Inc. and Trawsfynydd Therapeutics, Inc. Combine to Form Traws Pharma, Inc.

Onconova Therapeutics and Trawsfynydd Therapeutics have entered into a definitive merger agreement to combine in an all-stock transaction.

Orrick advised Onconova Therapeutics, which acquired 100% of Trawsfynydd’s outstanding equity interests.

The combined company is known as Traws Pharma, Inc.

THE COMPANIES

Onconova is a clinical-stage biopharmaceutical company focused on discovering and developing novel products for patients with cancer.

Trawsfynydd Therapeutics is an antiviral drug development company committed to reducing disease and death among people with respiratory viral diseases including Influenza and COVID19.

THE IMPACT

In connection with the merger, Traws announced that it raised $14 million in a committed private placement financing by OrbiMed and Torrey Pines.

The new company expects to advance development of three potential best-in-class/class leading assets:

• Viroksavir, a cap-dependent endonuclease inhibitor for influenza.
• Travaltrelvir, a protease inhibitor for COVID19.
• Narazaciclib, a next generation CDK4/6 inhibitor for low grade endometriod endometrial cancer.

“With a shared focus on developing best-in-class medicines for patients with unmet needs, we look forward to Traws’ continued progress with its anti-viral programs and narazaciclib,” said Dr. Steven Fruchtman, president and CEO of Onconova and President and CSO, Oncology, of the combined company.

THE TEAM 

David Schulman led the Orrick team advising Onconova. The team also included Kayla Z. X. Southworth, Eric Citizen, Tiffany Chiu Leung, Daniel Kadin and Eric Wall.

LEARN MORE

Onconova Therapeutics news release

Read More Orrick Client Results