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By Ben Glickman
Shares of Oragenics rose after the company announced a partnership with Lantern Bioworks.
The stock was up 20% to $3.57 in after-hours trading Friday, after rising 1% at the close. Shares are down 53% this year.
The Tampa, Fla.-based company said it would transfer assets to Lantern Bioworks in exchange for a cash payment of $50,000 and the right to acquire 1 million shares of Lantern equity.
Lantern will also give Oragenics a 10% royalty on profit from the assets over 10 years.
Write to Ben Glickman at [email protected]
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