Immunome To Acquire AL102, AL101 Drug Candidates From Ayala Pharma

(RTTNews) - Immunome, Inc. (IMNM) announced on Tuesday that it has signed a definitive asset purchase agreement to acquire AL102 and its related drug candidate AL101 from Ayala Pharmaceuticals, Inc.

According to the agreement, Ayala will receive $20 million in cash and $30 million in Immunome common stock. Immunome will also make further payments of up to $37.5 million for development and commercial milestones. The transaction is subject to customary conditions.

Immunome's President and Chief Executive Officer, Clay Siegall, said "AL102 will complement our existing portfolio of targeted cancer agents that are approaching Phase 1 trials. As we complete the work required to advance AL102 to NDA submission, we also plan to investigate other populations of cancer patients that could benefit from treatment with AL102."

AL102 is a promising once-daily oral treatment for desmoid tumors that is currently being evaluated in the randomized Phase 3 RINGSIDE international trial.