Oncolytics Biotech completes US$3.7M offering of units

On August 16, 2019, Oncolytics Biotech completed its previously announced public offering of 4,619,773 units at a price of US$0.71 per unit for gross proceeds of approximately US$3.7 million. Oncolytics plans to use the net proceeds of the offering for research and development activities and working capital purposes.

Oncolytics is a biotechnology company with offices in Calgary and San Diego. Its focus is the development of pelareorep, an immuno-oncolytic virus for the treatment of solid tumors and hematological malignancies.

McCarthy Tétrault LLP advised Oncolytics with a team led by Michael Bennett that included Robert Nearing and Steve Marshall (Tax).