Transaction valued at €3.5 million
The partners have enjoyed a successful discovery collaboration since 2021
LUND, SWEDEN / ACCESSWIRE / November 19, 2024 / Alligator Bioscience (STO:ATORX) today announced that the Company has entered into an agreement under which Orion Corporation has settled all future contractual milestones, royalty and any other commitments towards Alligator in relation to two preclinical bispecific antibodies resulting from the discovery collaboration between the companies. No further development activities will be conducted under the collaboration agreement.
"I am pleased that our successful collaboration has grown to this logical outcome. This divestiture sharpens our focus on our lead candidate mitazalimab, and this non-dilutive income constitutes an important element in advancing mitazalimab towards Phase 3" says Søren Bregenholt, CEO of Alligator Bioscience. "Following the unprecedented 18-month survival data announced earlier this year we expect several value inflection points on mitazalimab in the coming months. Notably among them, 24-months follow-up, as well as key progress in Phase 3 preparations in pancreatic cancer, which we are expected to further facilitate partnership discussions."
Van Lanschot Kempen acted as financial adviser to Alligator on the transaction.
For further information, please contact:
Søren Bregenholt, CEO
E-mail: soren.bregenholt@alligatorbioscience.com
Phone: +46 (0) 46 540 82 00
Johan Giléus, CFO
E-mail: johan.gileus@alligatorbioscience.com
Phone: +46 (0) 46 540 82 00
This information is information that Alligator Bioscience is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-11-19 17:30 CET.
About Alligator Bioscience
Alligator is a clinical-stage biotechnology company developing tumor-directed immuno-oncology antibody drugs focused on the CD40 receptor. This validated approach promotes priming of tumor-specific T cells and reversing the immunosuppressive nature of the tumor microenvironment, with significant potential benefits for cancer patients across multiple types of cancer. Its portfolio includes lead drug candidate mitazalimab, for which the company reported unprecedented survival data at 18-months follow up in first-line metastatic pancreatic cancer patients in Phase 2 testing and is in preparation for Phase 3 development. The follow-on bispecific antibody ATOR-4066 is in preclinical testing. Alligator has a proprietary technology platform, comprised of two antibody libraries, ALLIGATOR-GOLD® and ALLIGATOR-FAB, the powerful protein optimization strategy FIND® and the bispecific antibody format RUBY, which drives rapid design and development of innovative drugs.
Alligator is listed on Nasdaq Stockholm (ATORX) and headquartered in Lund, Sweden.
For more information, please visit alligatorbioscience.com.
Attachments
Alligator announces sale of future financial commitments for two bispecific antibodies to Orion Corporation
SOURCE: Alligator Bioscience
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