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Advaxis To Seek New Life In Merger With Ayala

 
• By Joseph Haas

The new company will focus mainly on Ayala’s lead candidate for desmoid tumors, but minority owner Advaxis will take over management.

Mismatch
Advaxis and Ayala plan a merger of dissimilar cancer companies • Source: Shutterstock

Troubled Advaxis, Inc. may be getting a second lease on life by merging with cash-poor Ayala Pharmaceuticals, Inc., which has a late-stage candidate for desmoid tumors, a condition with no approved drug therapy, although it appears to trail competitor SpringWorks Therapeutics Inc. on both efficacy data and timeline for reaching the market in that indication.

The two companies announced their planned merger on 19 October, though it still requires approval by Ayala shareholders. An all-stock transaction, the deal is structured so that Ayala will own...

Desmoid Tumors

Also known as aggressive fibromatosis, desmoid tumors are soft-tissue growths that are considered benign because they do not metastasize, but can cause long-lasting pain and disfigurement, lead...

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