AdAlta (ASX:1AD) is abandoning internal research activities for the AD-214 antifibrotic drug to focus on its "East to West" strategy for cellular immunotherapy, according to a Thursday filing with the Australian bourse.
Following a strategic review, the company decided to cease internal discovery research and development activities for AD-214. It will still pursue the drug but only through third parties, per the filing.
Instead, AdAlta will focus on accelerating its cellular immunotherapy strategy, with two new non-binding term sheets to in-license clinical-stage CAR-T products, the filing said.
Under the agreements, AdAlta will in-license highly differentiated cell therapies for solid cancers from Asian originators and conduct Phase I clinical trials, giving it a pathway to access Western markets, the filing said.
The clinical-stage biotechnology firm's shares fell 6% in recent trade.
免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。