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Ayala Pharmaceuticals Enters Exclusive Worldwide License Agreement

Bristol-Myers Squibb (BMS) has now in-licensed Ayala Pharmaceuticals, a biopharmaceutical company dedicated to developing targeted cancer therapies, two of its gamma secretase inhibitors in development for the treatment of cancers with altered Notch genes.

Ayala launched in November with investments by the Israel Biotech Fund, aMoon and Harel Insurance.

In connection with the license, BMS received an upfront payment, became a shareholder of Ayala, and is eligible to receive certain development, regulatory, and sales-based milestones, as well as tiered annual net sales royalties.

Under the terms of the license agreement, Ayala will have exclusive worldwide development and commercialization rights for BMS-906024 and BMS-986115, two gamma secretase inhibitors previously developed by BMS as a Notch inhibitor for oncology indications.

Ayala is responsible for all future development and commercialization of BMS-906024 and BMS-986115.

We believe BMS-906024 is the best in class gamma secretase inhibitor,” said Ayala’s Chairman of the Board of Directors, David Sidransky, MD. “Although most Notch targeted clinical trials have traditionally recruited non-selected populations, our approach is to target patients with specific Notch alterations whose tumors are expected to respond directly to this treatment.

This is an exciting opportunity in personalized therapy for Oncology, bringing new hope to cancer patients with no approved treatment options,

” said Roni Mamluk, PhD, CEO at Ayala. “We plan to initiate phase 2 clinical trials in 2018.” Roni Mamluk, is the former CEO of Chiasma and a member of its board of directors.

Partnering with Ayala allows for the continued development of BMS-906024 and BMS-986115 and demonstrates our commitment to seeking opportunities that enable the continued development of drug candidates that might benefit certain patients,” said Tim Reilly, Vice President, Head of Early Oncology Development at BMS. “Dr. Sidransky and Ayala are strategically positioned to focus their resources on the targeted development of these candidates for the treatment of cancers with altered Notch genes.”

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