Full Press Release Details
Completes Acquisition of AL102, a Phase 3 Asset for the Treatment of Desmoid Tumors, From Ayala
(Nasdaq: IMNM), a biotechnology company focused on developing first-in-class and best-in-class targeted cancer therapies, today
announced the successful completion of its purchase of AL102 and related drug
candidate AL101 from Ayala Pharmaceuticals, Inc.
is a high-quality asset that complements our existing pipeline of targeted cancer therapies," said Clay B. Siegall, Ph.D., President
and Chief Executive Officer of Immunome. "We believe that AL102 can establish a new standard of care for the treatment of desmoid
tumors. In parallel, we are excited to advance our preclinical programs towards Phase 1 trials."
AL102 is an investigational
small molecule gamma secretase inhibitor currently being evaluated in the randomized Phase 3 RINGSIDE international trial for the treatment
of desmoid tumors - a debilitating soft tissue malignancy. AL102 is a potential once-daily oral treatment for desmoid tumors. Data
from clinical trials have shown AL102 may be more effective in treating desmoid tumors than OGSIVEO (nirogacestat), which recently
became the first treatment approved for desmoid tumors by the U.S. Food and Drug Administration in November 2023.
About Immunome, Inc.
Immunome is a biotechnology company dedicated to developing
first-in-class and best-in-class targeted cancer therapies. Our portfolio pursues each target with a modality appropriate to its biology,
including immunotherapies, radioligand therapies and ADCs. We believe that pursuing underexplored targets with appropriate drug modalities
leads to transformative therapies. Our proprietary memory B cell hybridoma technology allows for the rapid screening and functional characterization
of novel antibodies and targets.
For more information,
Cautionary Statement Regarding
Forward-Looking Statements
Certain statements contained
in this communication regarding matters that are not historical facts, are forward-looking statements within the meaning of Section 21E
of the Securities and Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995 (the "PSLRA").
We use words such as "may," "could," "potential," "will," "plan," "believe,"
and similar expressions to identify these forward-looking statements that are intended to be covered by the safe-harbor provisions of
the PSLRA. These forward-looking statements include, but are not limited to, statements regarding Immunome's belief that AL102 can
establish a new standard of care for the treatment of desmoid tumors; the potential for AL102 to be a once-daily oral treatment; and other
statements regarding management's intentions, plans, beliefs, expectations or forecasts for the future. No forward-looking statement
can be guaranteed, and actual results may differ materially from those projected. Such forward-looking statements are based on Immunome's
expectations and involve risks and uncertainties; consequently, actual results may differ materially from those expressed or implied in
the statements due to a number of factors, including, but not limited to, the potential benefit of the transaction and whether Immunome
will realize the intended value from the transaction, if at all; possible disruptions from the proposed transaction that could harm Immunome's
businesses; Immunome's ability to grow and successfully execute on its business plan, including the development and commercialization
of its pipeline; changes in the applicable laws or regulations; the possibility that Immunome may be adversely affected by other economic,
business, and/or competitive factors; the risk that regulatory approvals for Immunome's programs and product candidates are not
obtained, are delayed or are subject to unanticipated conditions; the risk that pre-clinical data may not be predictive of clinical data;
the risk that interim results of a clinical trial do not necessarily predict final results; potential delays in the commencement, enrollment
and completion of clinical trials and the reporting of data therefrom; the complexity of numerous regulatory and legal requirements that
Immunome needs to comply with to operate its business; the reliance on Immunome's management; the prior experience and successes
of the Immunome's management team not being indicative of any future success; uncertainties related to Immunome's capital
requirements and Immunome's expected cash runway; the failure to obtain, adequately protect, maintain or enforce Immunome's
intellectual property rights; and other risks and uncertainties indicated from time to time described in Immunome's Annual Report
on Form 10-K for the year ended December 31, 2022 filed with Securities and Exchange Commission ("SEC") on March 16,
2023, Immunome's Quarterly Report on Form 10-Q for the quarter ended September 30, 2023 filed with the SEC on November 9,
2023, and in Immunome's other filings with the SEC. Immunome cautions that the foregoing list of factors is not exclusive and not
to place undue reliance upon any forward-looking statements which speak only as of the date made. Moreover, Immunome operates in
a very competitive and rapidly changing environment. New risks emerge from time to time. Except as required by law, Immunome does
not undertake any obligation to update publicly any forward-looking statements for any reason after the date of this press release to
conform these statements to actual results or to changes in their expectations.
Interim Chief Financial Officer