Roquefort Therapeutics PLC (LSE:ROQ) says its $10.8 million sale of Lyramid to Pleiades Pharma is on track.
Pleiades has secured exclusive rights to key immunotherapy assets, meeting a key condition.
Fundraising is progressing, with completion expected by June 30.
Roquefort will update shareholders as the deal advances.
"We look forward to progressing the Transaction to completion and remain focused on executing further transactions for our other programs in the future," said CEO Ajan Reginald.