Clavis, majority owned by rig investor Oystein Stray Spetalen’s investment outfit Ferncliff, has inked a letter of intent to acquire Aqualis for Nkr70 million ($11.9 million) to be paid in company shares valued at Nkr1.60 each.
Oslo-listed Clavis has been working to develop new chemotherapy drugs to combat cancer using so-called lipid vector technology but acting chief executive Gunnar Manum told Upstream recent tests of the treatment had failed to deliver satisfactory results.
“As
