MONMOUTH JUNCTION, N.J., March 26, 2024 (GLOBE NEWSWIRE) — Ayala Pharmaceuticals, Inc. (OTCQX: ADXS), a clinical-stage oncology company, today announced the completion of the previously announced sale of AL102, and related drug candidate AL101, to Immunome, Inc. (Nasdaq: IMNM).
As per the terms of the sale, Ayala received from Immunome $20 million in cash and 2,175,489 shares of Immunome common stock, and Immunome assumed specified liabilities related to AL102. Ayala may also receive up to an additional $37.5 million in development and commercial milestone payments.
“We are pleased that AL102 will now be advanced by the highly experienced team at Immunome,” said Ken Berlin, President and CEO of Ayala Pharmaceuticals. “I am deeply grateful to the team at Ayala for the work they have done over the last several years to assemble compelling clinical data and reach this point.”
A.G.P./Alliance Global Partners acted as strategic advisor to Ayala Pharmaceuticals, Inc. in connection with the transaction.
About Ayala Pharmaceuticals, Inc.
Ayala Pharmaceuticals, Inc. is a clinical-stage oncology company with expertise in developing small molecule therapeutics for rare tumors and aggressive cancers. Following the completed sale of AL102, an oral gamma secretase inhibitor in Phase 3 clinical development, and AL 101 to Immunome, Inc., Ayala’s clinical assets include aspacytarabine (BST-236), a novel proprietary anti-metabolite for first line treatment in unfit acute myeloid leukemia (AML). For more information, visit www.ayalapharma.com.
