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LOW-PROFILE BIOTECH LED BY BRISTOL MYERS VETS GRABS A SUITE OF ADENOSINE RECEPTOR ANTAGONISTS VIA TINY BUYOUT

Portage Biotech — which is led by two Bristol Myers Squibb vets, CEO Ian Walters and CSO Robert Kramer — is buying out New York’s Tarus Therapeutics in a $21 million all-stock deal that gives it $3 million worth of liabilities on top of four adenosine receptor antagonists, two of which are already in Phase I/II trials.