Aduro Biotech Gains On BioNovion Acquisition

Aduro Biotech Inc. announced Thursday afternoon that it had struck a deal to acquire privately held BioNovion, and Aduro shares jumped more than 5% in after-hours trading. Berkeley, Calif.-based Aduro said it would pay 14.5 million euros in cash and another 14.5 million euros worth of stock for the Dutch company, which will add to Aduro's line of drugs that attempts to stimulate patients' immune systems. "Having these capabilities provides another dimension to our company and uniquely positions us in the immunotherapy field," Aduro Chief Executive Stephen Isaacs said in Thursday's announcement. Aduro shares hit $22.75 in late trading following the announcement, after closing with a 0.8% gain at $21.63.