Immunome, Inc. completed the acquisition of Assets from Ayala Pharmaceuticals, Inc..
March 24, 2024
Share
Immunome, Inc. (NasdaqCM:IMNM) entered into a definitive asset purchase agreement to acquire Assets from Ayala Pharmaceuticals, Inc. (OTCPK:ADXS) for $94.2 million on February 5, 2024. Based on the terms of the agreement, Immunome will pay Ayala $20 million in cash and $30 million in Immunome common stock (valued at 30-day VWAP as of February 1, 2024) at the closing and will pay up to an additional $37.5 million in development and commercial milestone payments. Completion of the transaction is subject to customary conditions including Ayala obtaining the requisite stockholder approval. A.G.P./Alliance Global Partners is acting as Financial advisor to Ayala Pharmaceuticals, Inc. in connection with the transaction.
Immunome, Inc. (NasdaqCM:IMNM) completed the acquisition of Assets from Ayala Pharmaceuticals, Inc. (OTCPK:ADXS) on March 25, 2024. At the Ayala Closing, the Company (i) paid Ayala $20.0 million, less certain adjustments, (ii) issued Ayala 2,175,489 shares of Company common stock, or the Ayala Shares, with the shares valued at the trailing 30-day volume-weighted average price and (iii) assumed specified liabilities. The Company is obligated to pay Ayala up to $37.5 million in development and commercial milestones.
Immunome, Inc. is a biotechnology company engaged in developing targeted cancer therapies. The Company's portfolio pursues each target with a modality appropriate to its biology, including immunotherapies, radioligand therapies and Antibody-Drug Conjugates (ADCs). Its memory B cell hybridoma technology allows for the screening and functional characterization of novel antibodies and targets. Its programs include Oncology (IMM-ONC-01), LU FAP, and SARS-CoV-2 (IMM-BCP-01). The oncology program is an antibody (IMM-ONC-01) against interleukin-38 (IL-38) a novel immune modulator for the treatment of various solid tumors. Its Targeted Effector platform uses small molecule ligands to selectively deliver drug payloads to diseased cells. It also operates AL102 and related drug candidate AL101. AL102 is an investigational small molecule gamma secretase inhibitor being evaluated in the Phase III for the treatment of desmoid tumors. AL102 is a potential once-daily oral treatment for desmoid tumors.