10:48 AM EST, 01/29/2025 (MT Newswires) -- OS Therapies ( OSTX ) said Wednesday it agreed to acquire Ayala Pharmaceuticals' listeria monocytogenes-based immuno-oncology programs and related intellectual property assets.

OS Therapies ( OSTX ) said it agreed to pay $500,000 in cash and issue $7.5 million worth of its common shares to Ayala under the deal, which is expected to close 60 days from the agreement's execution.

The asset purchase deal includes a phase 2 lung cancer and phase 1 prostate cancer program, on top of gaining direct ownership of the underlying IP related to OS Therapies' ( OSTX ) OST-HER2 for osteosarcoma and other HER2-related indications, the company said.

Shares of OS Therapies ( OSTX ) rose 9.3% in recent Wednesday trading.

Price: 2.84, Change: +0.24, Percent Change: +9.27