OncoSec Medical (NSDQ:ONCS) is embroiled in a lawsuit and proxy war over a $30 million money-raise as it seeks to continue development of its cancer treatment technology.
The company — headquartered in San Diego and Pennington, N.J. — sent a letter to shareholders today in which it countered what it described as false and misleading statements by South Korea–based investor Alpha Holdings, which is seeking to stop a $30 million cash infusion from China Grand Pharmaceutical and Healthcare Holdings and its U.S. affiliate Sirtex Medical Holdings.
Alpha Holdings also has a lawsuit underway in the Eighth Judicial District Court in Las Vegas to halt a scheduled Jan. 17, 2020 shareholder vote on the deal.
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