About Us | ScientistAYLA Ayala Pharmaceuticals Inc.
Upcoming Catalysts
| Drug | Stage | Catalyst Date |
|---|---|---|
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AL101 (ACCURACY)
Adenoid cystic carcinoma
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Phase 2
Phase 2
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AL101 (TENACITY)
Triple negative breast cancer
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Phase 2
Phase 2
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AL102 - (RINGSIDE)
Desmoid tumors
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Phase 2
Phase 2
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Drug Pipeline
| Drug | Stage | Notes |
|---|---|---|
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AL102 and WVT078
Multiple Myeloma
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Phase 1
Phase 1
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Phase 1 initiation of dosing announced April 21, 2021.
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AL101
T-cell acute lymphoblastic leukemia
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Phase 2
Phase 2
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Phase 2 trial to commence 2H 2021.
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Latest News
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REHOVOT, Israel & WILMINGTON, Del., July 06, 2021 (GLOBE NEWSWIRE) -- Ayala Pharmaceuticals, Inc. (NASDAQ:AYLA), a clinical-stage oncology company focused on developing and commercializing small molecule therapeutics for patients suffering from rare and aggressive cancers, today announced that Roni Mamluk, Ph.D., Chief Executive Officer of Ayala, will present at the Ladenburg Thalmann Healthcare Conference on Tuesday, July 13, 2021 at 9:00 am ET.
A live webcast of each event may be accessed by visiting the Events & Presentations section of Ayala's website at ir.ayalapharma.com. An archived replay of the webcast will be available on the website for approximately 90 days following the presentations.
About Ayala Pharmaceuticals
Ayala Pharmaceuticals, Inc. is a clinical-stage oncology company focused on developing and commercializing small molecule therapeutics for patients suffering from rare and aggressive cancers, primarily in genetically defined patient populations. Ayala's approach is focused on predicating, identifying and addressing tumorigenic drivers of cancer through a combination of its bioinformatics platform and next-generation sequencing to deliver targeted therapies to underserved patient populations. The company has two product candidates under development, AL101 and AL102, targeting the aberrant activation of the Notch pathway with gamma secretase inhibitors to treat a variety of tumors including Adenoid Cystic Carcinoma, Triple Negative Breast Cancer (TNBC), T-cell Acute Lymphoblastic Leukemia (T-ALL), Desmoid Tumors and Multiple Myeloma (MM) (in collaboration with Novartis). AL101, has received Fast Track Designation and Orphan Drug Designation from the U.S. FDA and is currently in a Phase 2 clinical trial for patients with ACC (ACCURACY) bearing Notch activating mutations and in a Phase 2 clinical trial for patients with TNBC (TENACITY) bearing Notch activating mutations and other gene rearrangements. AL102 is currently being advanced to a Phase 2/3 clinical trials for patients with desmoid tumors (RINGSIDE) and is being evaluated in a Phase 1 clinical trial in combination with Novartis' BMCA targeting agent, WVT078, in Patients with relapsed/refractory Multiple Myeloma. For more information, visit www.ayalapharma.com.Contacts:
Investors:
Julie Seidel
Stern Investor Relations, Inc.
+1-212-362-1200
[email protected]Ayala Pharmaceuticals:
+1-857-444-0553
[email protected]
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REHOVOT, Israel and WILMINGTON, Del., May 27, 2021 (GLOBE NEWSWIRE) -- Ayala Pharmaceuticals, Inc. (NASDAQ:AYLA), a clinical-stage oncology company focused on developing and commercializing small molecule therapeutics for patients suffering from rare and aggressive cancers, today announced that Roni Mamluk, Ph.D., Chief Executive Officer of Ayala, will participate in two upcoming virtual investor conferences:
- Jefferies Virtual Healthcare Conference: Fireside Chat – Wednesday, June 2, 2021 at 3:00 pm ET.
- Raymond James Human Health Innovation Conference: Corporate Presentation – Monday, June 21, 2021 at 10:00 am ET.
A live webcast of each event may be accessed by visiting the Events & Presentations section of Ayala's website at ir.ayalapharma.com. An archived replay of each webcast will be available on the website for approximately 90 days following the presentations.
About Ayala Pharmaceuticals
Ayala Pharmaceuticals, Inc. is a clinical-stage oncology company focused on developing and commercializing small molecule therapeutics for patients suffering from rare and aggressive cancers, primarily in genetically defined patient populations. Ayala's approach is focused on predicating, identifying and addressing tumorigenic drivers of cancer through a combination of its bioinformatics platform and next-generation sequencing to deliver targeted therapies to underserved patient populations. The company has two product candidates under development, AL101 and AL102, targeting the aberrant activation of the Notch pathway with gamma secretase inhibitors to treat a variety of tumors including Adenoid Cystic Carcinoma, Triple Negative Breast Cancer (TNBC), T-cell Acute Lymphoblastic Leukemia (T-ALL), Desmoid Tumors and Multiple Myeloma (MM) (in collaboration with Novartis). AL101, has received Fast Track Designation and Orphan Drug Designation from the U.S. FDA and is currently in a Phase 2 clinical trial for patients with ACC (ACCURACY) bearing Notch activating mutations and in a Phase 2 clinical trial for patients with TNBC (TENACITY) bearing Notch activating mutations and other gene rearrangements. AL102 is currently being advanced to a Phase 2/3 clinical trials for patients with desmoid tumors (RINGSIDE) and is being evaluated in a Phase 1 clinical trial in combination with Novartis' BMCA targeting agent, WVT078, in Patients with relapsed/refractory Multiple Myeloma. For more information, visit www.ayalapharma.com.Contacts:
Investors:
Julie Seidel
Stern Investor Relations, Inc.
+1-212-362-1200
[email protected]Ayala Pharmaceuticals:
+1-857-444-0553
[email protected] -
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- First Patient Dosed in Phase 1 AL102 Combination Trial with Novartis' Anti-BCMA Agent for the Treatment of Multiple Myeloma -
- On Track to Initiate AL102 Phase 2/3 Pivotal Trial for the Treatment of Desmoid Tumors in 1H21-
- Multiple Near-Term Milestones Expected Across Clinical-Stage Pipeline -
REHOVOT, Israel and WILMINGTON, Del., May 14, 2021 (GLOBE NEWSWIRE) -- Ayala Pharmaceuticals, Inc. (NASDAQ:AYLA), a clinical-stage oncology company focused on developing and commercializing small molecule therapeutics for patients suffering from rare and aggressive cancers, primarily in genetically defined patient populations, today reported financial results for the first quarter ended March 31, 2021 and highlighted recent progress and upcoming milestones for its pipeline programs.
"Continuing on the strong momentum set in 2020, we are pleased with our progress through the first quarter of 2021. With a strengthened balance sheet and extended cash runway into 2023, we are well positioned to further progress our innovative pipeline of assets targeting the inhibition of gamma secretase through key pathways implicated in rare and aggressive cancers, including adenoid cystic carcinoma, multiple myeloma, triple negative breast cancer and desmoid tumors," said Roni Mamluk, Ph.D., Chief Executive Officer of Ayala. "We have made great strides to advance our pipeline programs in 2021 with the first patients dosed in both the Phase 2 TENACITY trial in triple negative breast cancer and the Phase 1 combination trial with Novartis in multiple myeloma. We also remain on track to report additional data from the 6mg cohort of our Phase 2 ACCURACY trial of AL101 for the treatment of adenoid cystic carcinoma in the second half of this year."
Recent Business Highlights and Upcoming Milestones:
- First Patient was dosed in Phase 1 Clinical Trial of AL102 in Combination with Novartis' BCMA Targeting Agent, WVT087 for the Treatment of Relapsed/Refractory Multiple Myeloma: In April 2021, Ayala announced that the first patient was dosed in its Phase 1 combination trial of AL102 with Novartis' investigational anti-B-cell maturation antigen (BCMA) agent, WVT078, for the treatment of relapsed and/or refractory multiple myeloma (MM).
- Completed $25 million Strategic Financing: In February 2021, Ayala announced a $25 million strategic financing with investors including Redmile Group and SIO Capital Management, extending its cash runway into 2023.
- Phase 2 TENACITY Clinical Trial Continues to Progress: In January 2021, Ayala announced the dosing of the first patient in the Phase 2 TENACITY clinical trial of its potent, selective small molecule, AL101, for the treatment of patients with Notch-activated recurrent or metastatic (R/M) triple negative breast cancer (TNBC). Ayala expects to report preliminary data from this ongoing trial by the end of 2021.
- Accelerated Development of AL102 for the Treatment of Desmoid Tumors with Pivotal Trial; First site opened in the US for the Phase 2/3 RINGSIDE Trial: In January 2021, Ayala announced that based on its end-of-Phase 1 meeting with the U.S. Food and Drug Administration (FDA) on AL102 for the treatment of desmoid tumors, and data from AL101 and AL102 Phase 1 studies including durable responses observed in patients with desmoid tumors, the FDA agreed to advance the program into a Phase 2/3 pivotal trial. Ayala expects to initiate the pivotal RINGSIDE clinical trial of AL102 in adult and adolescent patients with desmoid tumors in the first half of 2021. Ayala expects an initial interim data read-out from part A of the study and dose selection by mid-2022 with part B of the study commencing immediately thereafter.
- On Track to Report Additional ACCURACY Phase 2 Data; Patient Enrollment in 6mg Cohort of Phase 2 ACCURACY Study Ongoing: Ayala continues to enroll patients in the 6mg cohort of the Phase 2 ACCURACY study of AL101 for the treatment of recurrent/metastatic adenoid cystic carcinoma (R/M ACC), which will include up to 42 subjects. Further trial progress updates, including additional data, are expected in the second half of 2021.
First Quarter 2021 Financial Results
- Cash Position: Cash and cash equivalents totaled $56.0 million as of March 31, 2021.
- Collaboration Revenue: Collaboration revenue was $1.0 million for the first quarter of 2021 and 2020.
- R&D Expenses: Research and development expenses were $6.9 million for the first quarter of 2021, compared to $5.1 million for the same period in 2020. The increase was primarily driven by additional costs in connection with the advancement of the Desmoids, TNBC and ACC clinical trials.
- G&A Expenses: General and administrative expenses were $2.3 million for the first quarter of 2021, compared to $1.3 million for the same period in 2020. This increase was primarily due to higher expenses in connection with becoming a public company, including director and officers insurance and stock-based compensation.
- Net Loss: Net loss was $9.6 million for the first quarter of 2021, resulting in a basic and diluted net loss per share of $0.74. Net loss was $6.6 million for the same period in 2020, resulting in a basic and diluted net loss per share of $1.32.
Financial Guidance
Ayala expects its existing cash balance to fund operating expenses and capital expenditure requirements through multiple potential key clinical and development milestones into 2023.
About Ayala Pharmaceuticals
Ayala Pharmaceuticals, Inc. is a clinical-stage oncology company focused on developing and commercializing small molecule therapeutics for patients suffering from rare and aggressive cancers, primarily in genetically defined patient populations. Ayala's approach is focused on predicating, identifying and addressing tumorigenic drivers of cancer through a combination of its bioinformatics platform and next-generation sequencing to deliver targeted therapies to underserved patient populations. The company has two product candidates under development, AL101 and AL102, targeting the aberrant activation of the Notch pathway with gamma secretase inhibitors to treat a variety of tumors including Adenoid Cystic Carcinoma, Triple Negative Breast Cancer (TNBC), T-cell Acute Lymphoblastic Leukemia (T-ALL), Desmoid Tumors and Multiple Myeloma (MM) (in collaboration with Novartis). AL101, has received Fast Track Designation and Orphan Drug Designation from the U.S. FDA and is currently in a Phase 2 clinical trial for patients with ACC (ACCURACY) bearing Notch activating mutations and in a Phase 2 clinical trial for patients with TNBC (TENACITY) bearing Notch activating mutations and other gene rearrangements. AL102 is currently being advanced to a Phase 2/3 clinical trials for patients with desmoid tumors (RINGSIDE) and is being evaluated in a Phase 1 clinical trial in combination with Novartis' BMCA targeting agent, WVT078, in Patients with relapsed/refractory Multiple Myeloma. For more information, visit www.ayalapharma.com.
Contacts:
Investors:
Julie Seidel
Stern Investor Relations, Inc.
+1-212-362-1200
[email protected]Ayala Pharmaceuticals:
+1-857-444-0553
[email protected]Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including statements relating to our development of AL101 and AL102, the promise and potential impact of our preclinical or clinical trial data, the timing of and plans to initiate additional clinical trials of AL101 and AL102, upcoming milestones, including without limitation the timing and results of any clinical trials or readouts, patient enrollment and the sufficiency of cash to fund operations. These forward-looking statements are based on management's current expectations. The words "may," "will," "should," "expect," "plan," "anticipate," "could," "intend," "target," "project," "estimate," "believe," "predict," "potential" or "continue" or the negative of these terms or other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: the impact of the COVID-19 pandemic on our operations, including our preclinical studies and clinical trials, and the continuity of our business; we have incurred significant losses, are not currently profitable and may never become profitable; our need for additional funding; our cash runway; our limited operating history and the prospects for our future viability; the lengthy, expensive, and uncertain process of clinical drug development, including potential delays in regulatory approval; our requirement to pay significant payments under product candidate licenses; the approach we are taking to discover and develop product candidates and whether it will lead to marketable products; the expense, time-consuming nature and uncertainty of clinical trials; enrollment and retention of patients; potential side effects of our product candidates; our ability to develop or to collaborate with others to develop appropriate diagnostic tests; protection of our proprietary technology and the confidentiality of our trade secrets; potential lawsuits for, or claims of, infringement of third-party intellectual property or challenges to the ownership of our intellectual property; risks associated with international operations; our ability to retain key personnel and to manage our growth; the potential volatility of our common stock; costs and resources of operating as a public company; unfavorable or no analyst research or reports; and securities class action litigation against us. These and other important factors discussed under the caption "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2020 filed with the U.S. Securities and Exchange Commission (SEC) on March 24, 2021 and our other filings with the SEC could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management's estimates as of the date of this press release. New risk factors and uncertainties may emerge from time to time, and it is not possible to predict all risk factors and uncertainties. While we may elect to update such forward-looking statements at some point in the future, except as required by law, we disclaim any obligation to do so, even if subsequent events cause our views to change. Although we believe the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.
AYALA PHARMACEUTICALS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share and per share amounts) March 31, December 31 2021 2020 (Unaudited) CURRENT ASSETS: Cash and Cash Equivalents $ 56,030 $ 42,025 Short-term Restricted Bank Deposits 117 90 Trade Receivables 169 681 Prepaid Expenses and other Current Assets 1,534 1,444 Total Current Assets 57,850 44,240 LONG-TERM ASSETS: Other Assets $ 264 $ 305 Property and Equipment, Net 1,119 1,283 Total Long-Term Assets 1,383 1,588 Total Assets $ 59,233 $ 45,828 LIABILITIES, CONVERTIBLE PREFERRED STOCK, AND STOCKHOLDERS' EQUITY: CURRENT LIABILITIES: Trade Payables $ 3,004 $ 3,726 Other Accounts Payables 2,690 3,151 Total Current Liabilities 5,694 6,877 LONG TERM LIABILITIES: Long-term Rent Liability 505 553 Total Long-Term Liabilities $ 505 $ 553 STOCKHOLDERS' DEFICIT: Common Stock of $0.01 par value per share; 200,000,000 shares authorized at March 31, 2021 and December 31, 2020; 13,240,961 and 12,824,463 shares issued at March 31, 2021 and, respectively December 31, 2020; 13,072,213 and 12,728,446 shares outstanding at March 31, 2021 and December 31, 2020, respectively $ 131 $ 128 Additional Paid-in Capital 133,358 109,157 Accumulated Deficit (80,455 ) (70,887 ) Total Stockholders' Equity 53,034 38,398 Total Liabilities, Convertible Preferred Stock, and Stockholders' Equity $ 59,233 $ 45,828 AYALA PHARMACEUTICALS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (In thousands, except share & per share amounts) For the Three Months Ended March 31, 2021 2020 Revenues from licensing agreement $ 974 $ 1,001 Cost of Revenues (974 ) (1,001 ) Gross profit — — Operating expenses: Research and development 6,925 5,128 General and administrative 2,303 1,311 Operating loss (9,228 ) (6,439 ) Financial loss, net (92 ) (38 ) Loss before income tax (9,320 ) (6,477 ) Taxes on income (248 ) (121 ) Net loss attributable to common stockholders (9,568 ) (6,598 ) Net Loss per share attributable to common stockholders, basic and diluted $ (0.74 ) $ (1.32 ) Weighted average common shares outstanding, basic and diluted 12,888,340 4,999,563 - First Patient was dosed in Phase 1 Clinical Trial of AL102 in Combination with Novartis' BCMA Targeting Agent, WVT087 for the Treatment of Relapsed/Refractory Multiple Myeloma: In April 2021, Ayala announced that the first patient was dosed in its Phase 1 combination trial of AL102 with Novartis' investigational anti-B-cell maturation antigen (BCMA) agent, WVT078, for the treatment of relapsed and/or refractory multiple myeloma (MM).
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REHOVOT, Israel and WILMINGTON, Del., April 21, 2021 (GLOBE NEWSWIRE) -- Ayala Pharmaceuticals, Inc. (NASDAQ:AYLA), a clinical-stage oncology company focused on developing and commercializing small molecule therapeutics for patients suffering from rare and aggressive cancers, today announced the dosing of the first patient in the ongoing Phase 1 clinical trial evaluating its potent investigational gamma secretase inhibitor (GSI), AL102, in combination with Novartis' investigational anti-B-cell maturation antigen (BCMA) agent, WVT078, for the treatment of patients with relapsed and/or refractory multiple myeloma (MM).
AL102 is an oral small molecule that inhibits gamma secretase. Inhibition of gamma secretase prevents the cleavage and shedding of BCMA, which are ubiquitously expressed on MM cells. Preclinical data have demonstrated that treatment with AL102 increases expression of membrane-bound BCMA on the surface of MM cells and could enhance activity of WVT078.
"The dosing of the first patient in this Phase 1 trial marks an important milestone in our collaboration with Novartis. We view this trial, not only as a significant opportunity to explore the clinical viability of enhancing BCMA-targeting agents with GSIs such as AL102, but also as an important step forward in bringing a novel treatment option to patients with MM," said Roni Mamluk, Ph.D., Chief Executive Officer of Ayala. "Despite numerous advances in the treatment landscape for MM, the disease remains incurable. BCMA is ubiquitously expressed on myeloma cells. Increasing BCMA expression on target cells and reducing the shedding in circulation is believed to potentially enhance therapies and increase responses. We look forward to further evaluating this potential as we bring this program into the clinic."
The Phase 1, open-label, multicenter trial of AL102 in combination with Novartis' WVT078 is currently enrolling patients with relapsed and/or refractory multiple myeloma who have received two or more standard of care lines of therapy including an IMID, a proteasome inhibitor, and an anti-CD38 agent. The first-in-human dose escalation trial is designed to assess the safety, tolerability and recommended dose regimen(s) of WVT078 alone and in combination with AL102. In addition, the trial will assess preliminary anti-MM response and characterize the pharmacokinetics and immunogenicity of WVT078 alone and in combination with AL102.
Under the terms of the option and license agreement established in December 2018, Novartis is responsible for the conduct and expenses of any trials of AL102 in combination with their BCMA-targeting agents, as well as potential commercialization, in multiple myeloma. Ayala retains worldwide license rights to AL102 in all other indications.
About AL102
AL102 is a potent, selective and oral gamma secretase inhibitor (GSI). AL102 is currently being developed for the treatment of desmoid tumors, as well as in combination with Novartis' BCMA-targeting agents for the treatment of multiple myeloma (MM).About WVT078
WVT078 is a bispecific antibody that engages both BCMA and CD3, resulting in the recruitment of cytotoxic T cells that target BCMA-positive MM cells.About Multiple Myeloma
Multiple myeloma is a rare and aggressive blood cancer that accounts for approximately one percent of all cancers. In the U.S., there are nearly 90,000 people living with, or in remission from, multiple myeloma. Approximately, 26,850 Americans are diagnosed with multiple myeloma each year and 11,240 patient deaths are reported on an annual basis.About Ayala Pharmaceuticals
Ayala Pharmaceuticals, Inc. is a clinical-stage oncology company focused on developing and commercializing small molecule therapeutics for patients suffering from rare and aggressive cancers. Ayala's approach is focused on predicating, identifying and addressing tumorigenic drivers of cancer through a combination of its bioinformatics platform and next-generation sequencing to deliver targeted therapies to underserved patient populations. The company has two product candidates under development, AL101 and AL102, targeting the aberrant activation of the Notch pathway with gamma secretase inhibitors to treat a variety of tumors including Adenoid Cystic Carcinoma, Triple Negative Breast Cancer (TNBC), T-cell Acute Lymphoblastic Leukemia (T-ALL), Desmoid Tumors and Multiple Myeloma (MM) (in collaboration with Novartis). AL101 has received Fast Track Designation and Orphan Drug Designation from the U.S. FDA and is currently in a Phase 2 clinical trial for patients with ACC (ACCURACY) bearing Notch activating mutations and in a Phase 2 clinical trial for patients with TNBC (TENACITY) bearing Notch activating mutations and other gene rearrangements. AL102 is currently being advanced to a Phase 2/3 clinical trial for patients with desmoid tumors (RINGSIDE) and is being evaluated in a Phase 1 clinical trial in combination with Novartis' BMCA targeting agent, WVT078, in Patients with relapsed/refractory Multiple Myeloma. For more information, visit www.ayalapharma.com.Contacts:
Investors:
Julie Seidel
Stern Investor Relations, Inc.
+1-212-362-1200
[email protected]Ayala Pharmaceuticals:
+1-857-444-0553
[email protected] -
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SUZHOU, China and ROCKVILLE, Md., April 2, 2021 /PRNewswire/ -- Ascentage Pharma (6855.HK), a globally focused, clinical-stage biotechnology company engaged in developing novel therapies for cancers, chronic hepatitis B (CHB), and age-related diseases, today announced its appointment of Dr. David Sidransky, MD., a renowned oncologist, to the company's Board of Directors as an independent non-executive director, effective on March 31, 2021.
Known for in research in biomarkers for early detection and therapy and profiled by TIME magazine in 2001 as one of America's best in science and medicine, Dr. Sidransky is a leading expert in oncology and precision medicine widely respected in the biopharmaceutical industry. Dr. Sidransky is currently the Director of the Head and Neck Cancer Research Division at Johns Hopkins University School of Medicine's Department of Otolaryngology; and Professor of Oncology, Cellular & Molecular Medicine, Urology, Genetics, and Pathology at the Johns Hopkins University School of Medicine. Dr. Sidransky is also serving as a member on the Scientific Advisory Boards of numerous professional organizations and institutions, including the American Association for Cancer Research (AACR), the American Society of Clinical Oncology (ASCO), and the National Cancer Institute (NCI) of the U.S. Having authored over 550 peer-reviewed publications, contributed 45 cancer reviews and chapters, and invented 28 biotechnology patents, Dr. Sidransky is one of the world's most highly cited researchers in clinical and medical journals.
Dr. Sidransky has accumulated immense industry experience and exceptional expertise, not only in scientific research, but also in business operations, corporate governance and investment strategies. Dr. Sidransky is a founder of a number of biotechnology companies such as Champions Oncology (Nasdaq; CSBR). Previously, Dr. Sidransky was Vice Chairman of ImClone Systems Inc., a global biopharmaceutical company committed to advancing oncology care, until its acquisition by Eli Lilly. Dr. Sidransky is also a Co-Founder and Managing Partner of the Israel Biotech Fund. Furthermore, Dr. Sidransky is a highly-experienced board member, after having served as a director on the boards of Galmed Pharmaceuticals (NASDAQ:GLMD), Orgenesis (NASDAQ:ORGS), Advaxis (NASDAQ:ADXS), and Ayala (NASDAQ:AYLA).
"It is our great pleasure to welcome Dr. Sidransky join us as an independent non-executive director. Dr. Sidransky is a true expert in science as well as in business operations, corporate governance, and investment management, and has made tremendous contributions to the biopharmaceutical industry," said Dr. Dajun Yang, Chairman & CEO of Ascentage Pharma. "Ascentage Pharma is currently advancing the global clinical development of its assets targeting a range of tumor types, and is gearing up for its first product launch. We are confident that the addition of Dr. Sidransky to our board will help sharpen our strategic focus and better position the company to capture future growth opportunities."
"I am excited to join Ascentage Pharma's board as an independent non-executive director, and to have the opportunity to work with the company's leadership team and board members," commented Dr. Sidransky. "Ascentage Pharma is an emerging global leader in biopharmaceutical innovation. I look forward to supporting the company to realize its founding mission of 'addressing unmet clinical needs in China and around the world'."
About Ascentage Pharma
Ascentage Pharma (6855.HK) is a globally focused, clinical-stage biotechnology company engaged in developing novel therapies for cancers, CHB, and age-related diseases. On October 28, 2019, Ascentage Pharma was listed on the Main Board of the Stock Exchange of Hong Kong Limited with the stock code: 6855.HK.
Ascentage Pharma focuses on developing therapeutics that inhibit protein-protein interactions to restore apoptosis or programmed cell death. The company has built a pipeline of eight clinical drug candidates, including novel, highly potent Bcl-2, and dual Bcl-2/Bcl-xL inhibitors, as well as candidates aimed at IAP and MDM2-p53 pathways, and next-generation tyrosine kinase inhibitors (TKIs). Ascentage Pharma is also the only company in the world with active clinical programs targeting all three known classes of key apoptosis regulators. The company is conducting more than 40 Phase I/II clinical trials in the US, Australia, and China. HQP1351, the company's core drug candidate developed for the treatment of drug-resistant chronic myeloid leukemia (CML), has been granted an Orphan Drug Designation (ODD) and a Fast Track Designation (FTD) by the US FDA, and a New Drug Application (NDA) for the drug candidate has been submitted and subsequently granted Priority Review by the Center for Drug Evaluation (CDE) in China. To date, Ascentage Pharma has obtained a total of 11 ODDs from the US FDA for four of the company's investigational drug candidates.
Forward-Looking Statements
The forward-looking statements made in this article relate only to the events or information as of the date on which the statements are made in this article. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. You should read this article completely and with the understanding that our actual future results or performance may be materially different from what we expect. In this article, statements of, or references to, our intentions or those of any of our Directors or our Company are made as of the date of this article. Any of these intentions may alter in light of future development.
View original content to download multimedia:http://www.prnewswire.com/news-releases/ascentage-pharma-appoints-renowned-oncologist-dr-david-sidransky-md-to-its-board-as-an-independent-non-executive-director-301261367.htmlSOURCE Ascentage Pharma