On March 26, 2024 Ayala Pharmaceuticals, Inc. (OTCQX: ADXS), a clinical-stage oncology company, reported the completion of the previously announced sale of AL102, and related drug candidate AL101, to Immunome, Inc. (Nasdaq: IMNM) (Press release, Ayala Pharmaceuticals, MAR 26, 2024, View Source [SID1234641437]).

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As per the terms of the sale, Ayala received from Immunome $20 million in cash and 2,175,489 shares of Immunome common stock, and Immunome assumed specified liabilities related to AL102. Ayala may also receive up to an additional $37.5 million in development and commercial milestone payments.

"We are pleased that AL102 will now be advanced by the highly experienced team at Immunome," said Ken Berlin, President and CEO of Ayala Pharmaceuticals. "I am deeply grateful to the team at Ayala for the work they have done over the last several years to assemble compelling clinical data and reach this point."

A.G.P./Alliance Global Partners acted as strategic advisor to Ayala Pharmaceuticals, Inc. in connection with the transaction.