Posted: 10 February 2025
AdAlta Limited (ASX:1AD) (“AdAlta” or “the Company”) is pleased to announce the acceleration of its “East to West” cellular immunotherapy growth strategy with the execution of two further non-binding term sheets to in-license clinical stage CAR-T products, bringing total products in advanced due diligence to three. This growing opportunity pipeline is expected to quickly re-shape AdAlta into a leader in cellular immunotherapy for solid cancer patients, enhancing the Company’s value creation opportunities. This strategy is aligned with a global biopharma trend: biopharma innovation emerging from China and Asia is reshaping the global biopharma landscape.
Following a strategic review of its pipeline, AdAlta has determined that it will continue to advance its first in class antifibrotic drug, AD-214, being developed for fatal diseases such as Idiopathic Pulmonary Fibrosis (IPF), only through external partners and investors and it will cease internal discovery R&D to focus resources on its now validated “East to West” growth strategy.
AdAlta CEO and Managing Director, Tim Oldham said:
“Our decision to accelerate AdAlta’s “East to West” strategy represents a substantial opportunity for the Company. This strategy is already providing us access to “Eastern” advances in cellular immunotherapies and will, in turn, help drug candidates flowing from biotech innovation in that region reach “Western” regulated markets.
We believe AdAlta can make a series of modest investments, leveraged with third party capital and focused on single clinical trials per asset, that could see value realisation in relatively short time periods. The strategy is already receiving positive feedback from strategic and financial investors who are potential sources of non-dilutive funding and from our Asian in-licensing partners. The alignment of the strategy with industry growth trends was validated at JPMorgan Week and by the signing of these two new term sheets.
We are streamlining and simplifying the rest of our business to create focus. We’ll continue to seek transactions to advance AD-214 however we will cease internal R&D: we can develop a diverse clinical stage pipeline that is important for shareholder value creation much faster and more efficiently with our “East to West” strategy.
I am very excited about the potential of our “East to West” strategy and look forward to providing investors with further updates as we finalise selection and acquisition of the first assets.”
