Immunome (IMNM) has released an update to notify the public and investors about an entry into a material definitive agreement.
Immunome, Inc. has entered into an agreement to acquire AL101 and AL102 programs from Ayala Pharmaceuticals, Inc., in a strategic move that involves an initial payment of $20 million, the issuance of over 2 million shares, and the assumption of certain liabilities. The deal, expected to close upon stockholder approval and other customary conditions, also includes up to $37.5 million in potential milestone payments. Ayala has agreed to various covenants restricting its business activities post-closing and will retain a portion of the shares for a specified period. This acquisition is seen as a significant step for Immunome in expanding its portfolio and marks an important event for those tracking developments in the pharmaceutical industry.
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For a comprehensive understanding of the announcement, you can read the full document here.
