Ayala Pharmaceuticals announced preliminary results from its ongoing Phase 2 ACCURACY study of lead investigational new drug candidate, AL101, in patients with recurrent/metastatic adenoid cystic carcinoma (ACC) with progressing disease and Notch activating mutations.
On the back of the positive preclinical results and the recent $30 million financing round, Ayala is ready to start a phase 2 study of AL101 in TNBC. Separately, the drug is in a phase 2 trial in adenoid cystic carcinoma, with an FDA orphan drug designation.
Novartis has powered Ayala Pharmaceuticals to a $30 million series B round. Ayala will use the cash to fund mid-phase development of pan-Notch inhibitor AL101 in adenoid cystic carcinoma (ACC).
Ayala is looking to lead the way for the country’s burgeoning biotech sector and take its gamma secretase inhibitors all the way through to Phase III.
Ayala entered into an option to license agreement with Novartis for its investigational agent AL102 in multiple myeloma.
The financing and due diligence were led by Israel Biotech Fund and Harel Insurance & Finance Group, with participation of Celgene Corporation, (NASDAQ: CELG), the Japanese-Israeli fund, SBI JI Innovation Fund and existing investors.
Israel Biotech Fund identified the opportunity, led the due diligence and syndicated with aMoon and Harel Insurance in 2017 to form Ayala. Read the full Article
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A $30MM funding round in Pharma Two B was led by Israel Biotech Fund, which syndicated the investment with leading US and Israeli investors. Read the full Article