Snell & Wilmer Advises Biotechnology Company Trawsfynydd Therapeutics, Inc. in Merger with Onconova Therapeutics, Inc.

SAN DIEGO – Snell & Wilmer represented Maryland-based client Trawsfynydd Therapeutics, Inc., a privately-held biotechnology company developing next-generation, best-in-class antivirals for influenza, COVID and other infectious diseases, in its merger with Onconova Therapeutics, Inc., a clinical-stage biopharmaceutical company focused on discovering and developing novel products for patients with cancer. Under the terms of the agreement, Onconova acquired 100% of Trawsfynydd’s outstanding equity interests. In connection with the transaction and concurrent with the merger, the combined company which has been renamed “Traws Pharma, Inc.” (“Traws”) will trade on NASDAQ under the new ticker symbol “TRAW”, commencing prior to the opening of trading Wednesday, April 3, 2024.

Traws will be led by incoming Chief Executive Officer, Werner Cautreels, Ph.D. In a recent press release, Dr. Cautreels stated “I am pleased to announce the combination of Onconova and Trawsfynydd at this important time, as Trawsfynydd readies to initiate Phase 2 studies in H2 2024 for its lead antiviral programs for influenza and COVID19, supported by advisors with unparalleled expertise in viral disease, and Onconova is preparing to finalize the recommended Phase 2 dose (RP2D) for narazaciclib.” 

Partner Bardia Moayedi led the Snell & Wilmer team advising Trawsfynydd Therapeutics, Inc. in the deal. The diverse team included Sarah Hibbard, Eileen Vernon, Katherine McKitterick Nessan, Monique Torres, Brook Barnes, Eli Mansour, Christopher Franich, Bahar Schippel, and Greg Gautam.

Snell & Wilmer's corporate and securities attorneys have served as counsel to a substantial number of clients ranging from Fortune 100 companies to smaller emerging businesses. Our attorneys have provided sophisticated legal representation to biotech companies, health care and financial institutions, public utilities, homebuilders, transportation companies, restaurant and hospitality providers, athletic complexes, fitness facilities and many other types of businesses. Snell & Wilmer’s venture capital and private equity practice covers multiple aspects of the transactional arena involving public and private companies, including the structuring and execution of majority buyouts and minority investments, acquisitions (including buy- and sell-side deals, as well as negotiated and auction deals), financings (including 144A transactions and PIPEs), going-private transactions, and spin-off transactions. Our venture capital and private equity attorneys advise both domestic and international funds, including venture capital, private equity, hedge, mezzanine, real estate opportunity, fund-of-funds, exchange, and other private investment funds.

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