Onconova Therapeutics Inc. Logs $50 Million

Onconova Therapeutics Inc. Logs $50 Million

Philadelphia Business Journal by Peter Key, Reporter

Onconova Therapeutics Inc. has raised $1 short of $50 million in a private-equity sale, according to a Form D filing it made Monday with the Securities and Exchange Commission.  The Newtown, Pa., biotechnology company said it will use the money for working capital and general corporate purposes.

Onconova raised a little more than $26.4 million in a two-part private-equity sale earlier this year. It raised $7.05 million in May and the remainder in July. The company is developing new drugs for treatment of cancer and radiation injury.  The Form D filings were provided to the Philadelphia Business Journal by FormDs.com.

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