UW-founded cancer immunotherapy developer Neoleukin Therapeutics will merge with Aquinox in an all-share deal giving the spinout's shareholders roughly 38.6% equity in the new company.

Neoleukin Therapeutics, a US-based cancer immunotherapy developer spun out of University of Washington, is to merge with US-listed biopharmaceutical company Aquinox in an all-stock transaction. Aquinox will pay for Neoleukin’s outstanding equity with 14.8 million new common and preferred shares, equating to a value of $43.5m as of their opening price today. It plans to…

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