Friday, July 28, 2023
Ayala Pharmaceuticals announced they have entered into a definitive merger agreement forming a new combined company that will operate under the name Ayala Pharmaceuticals.
According to the merger agreement, Biosight stockholders will hold 55 percent of the ownership in the combined company, while Ayala stockholders will retain the remaining 45 percent. The focus of the new combined company will be to advance a portfolio of oncology assets, with particular emphasis on two drugs: AL102 and Aspacytarabine (BST-236).
Ayala Pharmaceuticals and Biosight are merging to harness their assets and expertise in oncology, accelerating the development of promising drugs, including AL102 and Aspacytarabine (BST-236). The combined effort aims to bring these innovative treatments to the market swiftly, improving the outlook for those in need of effective therapies.
AL102 is an investigational small molecule gamma-secretase inhibitor (GSI) developed by Ayala Pharmaceuticals. It is designed to selectively inhibit Notch 1, 2, 3, and 4. The drug works by blocking the final cleavage step by the gamma-secretase, which is required for Notch activation. AL102 is currently being evaluated in the Phase 2/3 RINGSIDE clinical studies in patients with progressing desmoid tumours. Desmoid tumours are a rare type of soft tissue tumour.