LUND, Sweden, Oct. 22, 2020 /PRNewswire/ -- Alligator Bioscience (Nasdaq Stockholm: ATORX) today announced the decision to focus its resources on the two proprietary candidate drugs, ATOR-1017 and mitazalimab. Positive safety and strong Proof of Mechanism data support moving both into clinical efficacy (Phase Ib/II) studies in 2021. Due to this prioritization, Alligator will complete the ongoing dose-escalation study with the bispecific ATOR-1015 as planned during Q4 2020, after which it will be partnered for further development.
"ATOR-1017 and mitazalimab are frontrunners worldwide and Alligator must prioritize and focus investments on these assets to maximize their value. They both have potential in large cancer indications with high medical need and billion-dollar markets. They also target important immune mechanisms where clinical validation is now emerging and has attracted significant interest already. Under the revised plan, resources will be concentrated to the upcoming phase Ib/II efficacy studies for ATOR-1017 and mitazalimab", said Per Norlén, CEO at Alligator Bioscience.
The decision to focus the clinical resources to ATOR-1017 and mitazalimab is further explored in the Q3 interim report, published today October 22 at 8:00 a.m.
Alligator will host a conference call today at 2:00 p.m. CEST for investors, analysts and media, where CEO Per Norlén will present and comment on the Q3 interim report and the focus of the clinical operations. The conference will be held in English. All necessary information to listen-in and ask questions are available on the following link: https://financialhearings.com/event/12459
For further information, please contact:
Director Investor Relations & Communications
Phone +46 46 540 82 06
E-mail: [email protected]
This information is such information as Alligator Bioscience AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 7:00 a.m. CEST on October 22, 2020.
About Alligator Bioscience
Alligator Bioscience AB is a clinical-stage biotechnology company developing tumor-directed immuno-oncology antibody drugs. Alligator's pipeline includes the two key assets ATOR-1017 and mitazalimab. Furthermore, there are two partnered assets; ALG.APV-527 in co-development with Aptevo Therapeutics Inc. and AC101 in clinical development by Shanghai Henlius Biotech Inc.). In addition, the company has developed a novel concept for more patient-specific immuno-therapy: Neo-X-Prime. Alligator's shares are listed on Nasdaq Stockholm (ATORX). The Company is headquartered in Lund, Sweden. For more information, please visit www.alligatorbioscience.com.
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Alligator Bioscience focuses on ATOR-1017 and mitazalimab
SOURCE Alligator Bioscience