ALLOGENE THERAPEUTICS, INC.

(ALLO)
  Report
Delayed Nasdaq  -  05/24 04:00:00 pm EDT
7.340 USD   -1.61%
10:45aGoldman Sachs Adjusts Allogene Therapeutics' Price Target to $9 from $12, Keeps Neutral Rating
MT
05/19Allogene Therapeutics Announces Oral Presentation of Pre-Clinical Data Highlighting Improved Anti-Tumor Activity of Donor-Derived Allogeneic CAR T Cells at American Society of Gene and Cell Therapy (ASGCT) Annual Meeting
GL
05/19Allogene Therapeutics Announces Oral Presentation of Pre-Clinical Data Highlighting Improved Anti-Tumor Activity of Donor-Derived Allogeneic CAR T Cells at American Society of Gene and Cell Therapy (ASGCT) Annual Meeting
AQ
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Allogene Therapeutics Announces Exclusive Collaboration and Global License Agreement with Antion Biosciences for Multiplex miCAR Technology

01/12/2022 | 10:00am EDT

SOUTH SAN FRANCISCO, Calif. and GENEVA - Allogene Therapeutics, Inc. (Nasdaq: ALLO), a clinical-stage biotechnology company pioneering the development of allogeneic CAR T (AlloCAR T) products for cancer and Antion Biosciences, a Swiss cell and gene engineering company, announced that they have entered into an exclusive collaboration and global license agreement for Antion's miRNA technology (miCAR) to advance multiplex gene silencing as an additional tool to develop next generation allogeneic CAR T products.

Antion is an early-stage research company with foundational miRNA technology. In preclinical studies, Antion has demonstrated proof-of-concept for multiplex gene silencing in an allogeneic CAR T cell model. These studies demonstrated the ability of miCAR technology to silence multiple gene targets in a single step and indicate this technology has broad application within cell and gene engineering. Allogene plans to deploy miCAR with other technologies to develop next-generation strategies for immune evasion and other advances in allogeneic CAR T therapy.

'We believe that Antion has one of the few technology options capable of delivering multiplex gene silencing with a high degree of specificity and potency,' said Rafael Amado, M.D., Executive Vice President of Research and Development and Chief Medical Officer. 'We are excited to be working with Antion to explore how their miCAR technology may advance and accelerate Allogene's research efforts aimed at creating best in class allogeneic cell therapies.'

As part of this agreement, Antion will exclusively collaborate with Allogene on oncology products for a defined period. Allogene will also have exclusive worldwide rights to commercialize products incorporating Antion technology developed during the collaboration. Allogene will provide Antion an upfront cash payment and a preferred equity investment. Allogene will pay Antion developmental and commercial milestones and a single-digit royalty on any product sales. Allogene will also take a seat on Antion's Board of Directors.

'This collaboration represents an exciting validation of the power and flexibility of our miCAR platform,' said Sven Kili, M.D., Chief Executive Officer. 'We are extremely enthusiastic to be working with Allogene, as the world leader in Allogeneic CAR T therapies to bring next-generation life changing therapies to patients.'

About Antion Biosciences

Antion Biosciences SA is a Swiss cell and gene engineering company developing highly innovative multiplexed allogeneic therapies to cure diseases with significant unmet medical needs through ground-breaking cell engineering. Antion's proprietary Tunable Expression Modulators (TEM) and miCAR technologies allow efficient, simultaneous multi-gene silencing and gene addition in a single step, enabling the creation of multimodal treatments that have the ability to substantially enhance clinical safety and efficacy. These technologies are developed using a unique Smart Data approach to construct design and optimization, ensuring maximum efficiency. Antion's pipeline is focused on curing challenging cancer and immunotherapy indications with simple, easy to administer cell therapies.

About Allogene Therapeutics

Allogene Therapeutics, with headquarters in South San Francisco, is a clinical-stage biotechnology company pioneering the development of allogeneic chimeric antigen receptor T cell (AlloCAR T) products for cancer. Led by a management team with significant experience in cell therapy, Allogene is developing a pipeline of 'off-the-shelf' CAR T cell product candidates with the goal of delivering readily available cell therapy on-demand, more reliably, and at greater scale to more patients.

Allogene's Cautionary Note on Forward-Looking Statements

This press release contains forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The press release may, in some cases, use terms such as 'predicts,' 'believes,' 'potential,' 'proposed,' 'continue,' 'estimates,' 'anticipates,' 'expects,' 'plans,' 'intends,' 'may,' 'could,' 'might,' 'will,' 'should' or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Forward-looking statements include statements regarding intentions, beliefs, projections, outlook, analyses or current expectations concerning, among other things: the ability to progress the research collaboration, Antion's ability to develop a next-generation approach to immune evasion, the ability to develop and manufacture new therapies from Antion technology, and the potential benefits of Antion technology and AlloCAR T therapy. Various factors may cause differences between Allogene's expectations and actual results as discussed in greater detail in Allogene's filings with the SEC, including without limitation in its Form 10-Q for the quarter ended September 30, 2021. Any forward-looking statements that are made in this press release speak only as of the date of this press release. Allogene assumes no obligation to update the forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release.

AlloCAR T is a trademark of Allogene Therapeutics, Inc.

miCAR is a trademark of Antion Biosciences SA.

Contact:

Antion Biosciences

Consilium Strategic Communications

Matthew Neal

Chris Gardner

Ashley Tapp

T: +44 (0)20 3709 5700

E: antion@consilium-comms.com

Allogene Media/Investor

Christine Cassiano

Chief Communications Officer

T: (714) 552-0326

E: Christine.Cassiano@allogene.com

(C) 2022 Electronic News Publishing, source ENP Newswire

All news about ALLOGENE THERAPEUTICS, INC.
10:45aGoldman Sachs Adjusts Allogene Therapeutics' Price Target to $9 from $12, Keeps Neutral..
MT
05/19Allogene Therapeutics Announces Oral Presentation of Pre-Clinical Data Highlighting Imp..
GL
05/19Allogene Therapeutics Announces Oral Presentation of Pre-Clinical Data Highlighting Imp..
AQ
05/10TRANSCRIPT : Allogene Therapeutics, Inc. Presents at Bank of America 2022 Healthcare Confe..
CI
05/10Allogene Therapeutics Named 2022 Bay Area 'Best Place to Work' by San Francisco Busines..
AQ
05/09Allogene Therapeutics Named 2022 Bay Area “Best Place to Work” by San Franc..
GL
05/05Raymond James Adjusts Allogene Therapeutics' Price Target to $13 from $36, Keeps Outper..
MT
05/04TRANSCRIPT : Allogene Therapeutics, Inc., Q1 2022 Earnings Call, May 04, 2022
CI
05/04ALLOGENE THERAPEUTICS, INC. Management's Discussion and Analysis of Financial Conditio..
AQ
05/04ALLOGENE THERAPEUTICS : Q1 Earnings Snapshot
AQ
More news
Analyst Recommendations on ALLOGENE THERAPEUTICS, INC.
More recommendations
Financials (USD)
Sales 2022 0,12 M - -
Net income 2022 -366 M - -
Net cash 2022 430 M - -
P/E ratio 2022 -2,85x
Yield 2022 -
Capitalization 1 054 M 1 054 M -
EV / Sales 2022 5 285x
EV / Sales 2023 129x
Nbr of Employees 334
Free-Float 55,9%
Chart ALLOGENE THERAPEUTICS, INC.
Duration : Period :
Allogene Therapeutics, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ALLOGENE THERAPEUTICS, INC.
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 18
Last Close Price 7,34 $
Average target price 26,63 $
Spread / Average Target 263%
EPS Revisions
Managers and Directors
David D. Chang President, Chief Executive Officer & Director
Eric Schmidt Chief Financial Officer
Arie S. Belldegrun Executive Chairman
Alison Moore Chief Technical Officer
Barbra Sasu Chief Scientific Officer
Sector and Competitors
1st jan.Capi. (M$)
ALLOGENE THERAPEUTICS, INC.-50.80%1 071
GILEAD SCIENCES, INC.-12.33%79 850
REGENERON PHARMACEUTICALS, INC.7.98%73 473
VERTEX PHARMACEUTICALS22.20%68 632
WUXI APPTEC CO., LTD.-22.20%42 378
BIONTECH SE-36.69%39 666